RATE Group | French Court Recognises Crypto as Money – Cryptocurrency Regulation
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French Court Recognises Crypto as Money – Cryptocurrency Regulation

09 Mar French Court Recognises Crypto as Money – Cryptocurrency Regulation

Posted at 16:48h in Cryptocurrency News by

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crypto capital operator in court

Bitcoin has just received another awareness boost as a French court has recently referred to it as a currency.

The French court has agreed that Bitcoin loans can stand in as customer loans, giving digital currency the same status as fiat currency.

Late February 2020, an Australian court also referred to cryptocurrency as a legal form of investment.

According to French news outlet Les Echos, the French Commercial Court of Nanterre ruled that Bitcoin has the same standing as fiat money. The court in a Feb 26 ruling referred to Bitcoin as a “fungible interchangeable asset that is not individualized”. In other words, classifying digital assets and fiat currency as equal.

The court ruling stemmed from a prolonged dispute between French crypto exchange Paymium and English investment company BitSpread. Over a 1,000 Bitcoin Loan worth approximately $9.1 million. The conflict transpired between 2014 and 2018. BitSpread took a 1,000 BTC loan on Paymium shortly before Bitcoin hard fork….

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