RATE Group | China Adds Cryptocurrency to Inheritable Assets
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China Adds Cryptocurrency to Inheritable Assets

30 May China Adds Cryptocurrency to Inheritable Assets

Posted at 16:34h in Cryptocurrency News by

May 30, 2020 at 08:39 // News

Cryptocurrency can be inherited in China

According to the new Chinese civil code, the government has included cryptocurrencies such as Bitcoin (BTC) in its legally inheritable list of assets.


As per the report by Xinhua News Agency in China, a new civil law was passed at the 13th National People’s Delegation’s Conference, protecting inheritance, marriage, contracts, property, and citizenship.


Giving tokens a chance to thrive


The passed bill revised the civil law enacted in 1985. With this revision, China has extended the range of inheritable assets prescribed by the Inheritance Law to assets on the Internet, including cryptocurrencies such as Bitcoin, Ethereum, Ripple, Litecoin, etc. The measure will go into effect on January 1, 2021.


This revision of the civil law in China is interpreted as a result of…

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