China’s Supreme Court Calls For Better Digital Currency Protection

China’s Supreme Court calls for better digital currency protection. A new guideline published from the supreme court on Wednesday, specifies that the legal system should enhance protections over new types of ownership rights such as digital currencies, online virtual assets and data. This comes under the section “Strengthening judicial protection for property and equity rights.” 

The court did not elaborate on details or provide a definition of “digital currencies.” However, the guideline arrives at a time when there are rising numbers of legal disputes in China over the ownership of digital assets. This includes major cryptocurrencies like bitcoin and ether.

The guideline was published by the Supreme People’s Court, together with the National Development and Reform Commission (NDRC).

There were legal decisions made by provincial and municipal courts in China in which digital currencies like bitcoin were treated as virtual properties. However, until now, the country’s top judicial body has apparently not addressed the issue.

[image: Alejandro Luengo]

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