Bitcoin "enters the room"

According to the report, a U.S. court ruled on Friday that it refused to allow legal action against the ground-based trading platform Bitcoin because Bitcoin is a "currency" subject to "senders" in Washington DC. The court also ruled that while it was not strictly defined as "money," it was also used under Washington DC law.

In the past, our National Supreme People's Court and the National Development and Reform Commission jointly declared "the concept of decision-making and service accountability to improve economic development." businesses in the new era. There is a perception that the protection of new policies such as digital assets and online virtual assets should be strengthened.

Suddenly there is a heated debate in the financial world, leading to despair.

Hu Dinghe, chairman of the Economic and Social Council of China and expert advisor, said, "In terms of change, it is different for digital assets to enter the historical phase," said Hu Dinghe, chairman of the Economic and Social Council and social of China. Legacy and intellectual theory and theocratic thought. In the age of digital commerce, the issue of intellectual property rights is more important than any other issue.

Bitcoin cases taken over by the courts

Earlier this year, security blockchain company PeckShield announced the 2019 Global Electronic Data Protection Money Laundering (AML) Research Report. This report identifies the major climate change emergencies and disasters of recent years, as well as emerging markets for the use of digital assets in global markets.

According to the data, there were 11 major security incidents in 2017, worth an estimated US $ 294 million, and a total of 46 major security incidents in 2018, resulting in a decrease of approximately US $ 4.758 billion . In 2019, there were a total of 63 major security events. The incident resulted in losses of approximately $ 294 million and $ 7.679 million.

In 2017, the total digital asset outflow from China was $ 10.1 billion, $ 17.9 billion in 2018, and $ 11.4 billion in 2019.

According to the data, various security issues such as personal property security, group evacuation, and asset swapping occur frequently. Stress is everywhere for owners of digital assets. At the same time, the situation regarding Bitcoin has increased year by year.

According to a study by the China Judicial Information Network, incidents involving Bitcoin increased from 12 in 2014 to 618 in 2019, mainly related to theft, fraud and hacking of market orders.

On July 25, a U.S. court ruled that Larry Dean Harmon, of Bitcoin's underground trading platform, had not taken legal action, claiming Harmon was operating illegally and was fined.

And Harmon believes that Bitcoin is not a "currency" and that its platform is not a "money transfer business" under US law.

However, the court ruled that Bitcoin was a "currency" used by the Washington DC "Remittance Transactions Act" and used under Washington DC law, although it was not strictly defined as "Money". .

According to Washington D.C. Attorney General Beryl A. Howell, rewards are usually a trade, payment, or asset. The judge therefore thinks that Bitcoin is just that.

In contrast, a court ruling in the Bitcoin case before the Shanghai First Intermediate People's Court in May this year ruled that Bitcoin is a digital asset that requires legal protection and urges violators to return digital assets.

During the hearing, the Justice Department explained that according to data provided by the People's Bank of China (PBOC), Bitcoin is an asset and Chinese law. The bridge does not prevent the public from holding Bitcoin.

In this regard, many countries have different laws on digital assets such as Bitcoin, but they all explicitly and unequivocally protect the ownership of digital assets.

From Hu Dinghe's perspective, Bitcoin still plays a small role in today's market. However, the court decided to recognize the legitimacy of Bitcoin's privacy, legal and export rights, and its right to be protected as property.

Bitcoin is a legally protected “winner”.

Many countries around the world recognize and license the Bitcoin market, such as the United States, Japan, South Korea, Switzerland, and Singapore, but their attitudes and results are persistent.

Hu Dinghe said, “China is one of the most active regions for the Bitcoin market, but there have been disagreements over Bitcoin legislation and risk management. Internet devices are protected by law. , and there are blind laws to protect cryptocurrencies like Bitcoin.

In its 2013 "Notice of Secure Protection of Bitcoin", Bitcoin and other cryptocurrencies were identified as riskier, and in its 2017 "Notice of Security Securities in Token Currency", "Love" Western Europe " It is an illegal financial policy that eliminates all domestic token financial transactions and closes all cryptocurrency exchanges the last time around.

In a recent Korean court ruling, membership in cryptocurrencies was defended in a controversy over cryptocurrencies such as Bitcoin, and it has become increasingly important for legal protection.

On May 28, the 3rd session of the 13th National People's Congress (NPC) was voted on "Chinese Constitution Parties" and it will take effect on January 1, 2021. It should be noted that "civil law" recognizes the legacy of Bitcoin.

Xiao Sa, director of the Financial Institutions Company law firm, stressed that it is important to investigate to determine whether an asset contains "proprietary properties." As a result of the decision-making process, he said, there are important data such as “Measures for price management” and “Rules for self-esteem”.

“From a civil law perspective, general rules have been developed for new forms of devices, such as digital data and virtual devices,” he said. Strict rules are allowed for court decisions.

"At this time, the legal status of Bitcoin and Ethereum has been confirmed by a court order." It refers to the Nuclear Financing APP.

No other virtual tokens have yet been confirmed in court.

However, as long as it meets the requirements of "behavior of property" and does not violate tokens provided by other laws of our country, it can be recognized as required by a court order and includes the area of ​​the domain. It should be noted that tokens illegally associated with "ISIOU" cannot be obtained as "legal devices" under the new rules.

On July 22, the Korean Supreme Court and the Ministry of National Development and Reconciliation jointly declared "the concept of judgment of service and accountability." »Focuses on the acceleration of economic development in the new era. There is a perception that the protection of the order of assets should be strengthened, such as strengthening the protection of new policies and benefits such as digital assets, virtual network goods and information, and the basis of the voucher. operation of the industrial system must be observed. must be assembled and used frequently. Role of litigation in the protection of property

Liu Changyong, founder of FreeCash and lawyer for the crypto industry, believes that sharing ideas conveys four aspects of information. The digital age, on the other hand, with the rapid development of digital resources, the promotion of policies and regulations related to digital resources has started. Third, market value and information sovereignty protection needs are very important. Fourth, as public crime and cryptocurrency related crime increase, it is advisable to provide advice on this. However, there is no significant change in the behavior of cryptocurrency countries, which is indicated in the data and should not be overestimated.