Bitcoin Is a Digital Asset Says Intermediate People’s Court in China

The Shanghai No. 1 Intermediate People’s Court publicly announced an appeal for a Bitcoin foreign property damage compensation dispute on May 6, according to Baidu news. 

The second Court trial’s findings indicated that Bitcoin is a digital asset and should be protected by the law. All Bitcoin obtained through illegal means should be returned or compensated at a discount, says the local news.  

All started with a robbery

According to the report, an international married couple in Shanghai, Pete and Xiaoli Wang, were robbed at their apartment by four people in 2018. The robbers forced the couple to transfer their crypto currencies to the attacker’s accounts. The reporter said: 

“These four used methods of controlling the couple’s mobile phones, restricting their freedom, beating and threatening them and forcing the two to transfer all the 18.88 bitcoins and 6466 sky coins they own.” 

During the first court hearing, the group of four expressed their willingness to return…