The BTC has been recognized by China as “virtual property”
This is phenomenal as it is, but China, being quite strict about cryptocurrencies and preferring blockchain technology, just recently recognized Bitcoin as “virtual property”. The Chinese court stated in this regard in Hangzhou.
Henceforth, BTC is a legal entity for possession within the country, so that all holders of this cryptocurrency will be protected by law. This is a legal precedent that has given additional priority to possible decisions on ownership of cryptocurrencies.
Is it possible that the PRC will soon have plans to legalize the exchanges and mining that are still outlawed by now? Anyway, legalization of BTC in one of the largest markets of cryptocurrency and investments in blockchain (15% of the world index) is a piece of excellent news!