Chinese businesses can legally receive payments in BTC

It has been over a year since China banned buying and selling cryptocurrencies, including the exchange of individual coins for goods or services. Chinese legislators seem to be starting to release these bans. According to the latest news published by CnLedger, it is still possible to accept Bitcoin as a form of payment.  Szanzhen Court from the International Arbitration, Bitcoin officially recognized it as a property, while legalizing the transactions of this digital currency. 

"The Chinese court has confirmed that Bitcoin is protected by law, which does not forbid his / her posting. Bitcoin is officially recognized as an asset."

 

Bitcoin transactions are not illegal! 

Crypto-scientist Katherine Wu translated and analyzed all the documents. She explained that the decentralized nature of Bitcoin's owner provides financial and economic freedom, so Bitcoin can be recognized as an asset. 

"The party asserts that Bitcoin has property characteristics - it is controlled by its owner and provides him with value (which, of course, determines the market). It does not violate any laws, and Chinese legislators agree. " 

The Chinese courts emphasize that, regardless of the legality of Bitcoin himself in the country, Bitcoin and other large crypts, their circulation and payment by these names, are illegal. This also means that businesses can take these forms of money without fear.