Which chinese city accepted Bitcoin? Shanghai is one of the Chinese Citiyes that has accepted Bitcoin as an unrepeatable currency.
The the Shanghai people’s court recognized bitcoin as a unique and inimitable asset by publishing a report on the development of internet technology.
Pointing to some of Bitcoin’s characteristics, including its rarity and inherent value, the report notes that it has key features of a currency, such as scalability, ease of circulation, storage and payment. By endorsing Bitcoin as an asset class, the Shanghai People’s Court report will further legitimize it and other digital currencies in China. Despite the ban on digital currencies in China, legal arguments to define Bitcoin as personal property seem to have caught the attention of the country’s local courts.
This news may indicate the return of the Chinese government and the creation of new laws for digital currencies.
The Chinese government has banned activities in this field following the laws it created in the past for digital currencies and the cryptocurrency industry, these laws forced large exchanges such as Binance to leave China. They accept Kevin
The city of Shanghai, China is one of the most important cities where Bitcoin faces the new laws of the Chinese government and is recognized.