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The Shanghai High Court recognizes Bitcoin.

BINANCE:BTCUSD   Биткоин
The Second People's Intermediate Court of Shanghai has officially recognized Bitcoin as a unique digital asset that cannot be replicated, characterized by its scarcity and intrinsic value.

On September 25th, the court issued a discussion report on the development of internet technology. The report highlights that, with the advancement of internet technology, digital assets like Bitcoin have become unique and non-replicable. It emphasizes that among a multitude of cryptocurrencies, Bitcoin stands out as distinctive and one-of-a-kind.

The document also outlines several distinctive features of Bitcoin, including its scarcity and property as an asset. Furthermore, the court asserts that Bitcoin exhibits characteristics of a currency, such as its ability to scale, ease of transfer, storage capabilities, and use as a means of payment. Bitcoin continues to be utilized globally without central oversight.

In 2021, Beijing imposed a comprehensive ban on cryptocurrencies, including mining activities. However, recent court rulings have recognized Bitcoin, along with numerous other digital assets, as legitimate assets protected by the law.
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