An arbitration body in China has ruled that despite the country's central bank's ban on cryptocurrency trading, bitcoin should still be legally protected as a property with economic values.
The Shenzhen Court of International Arbitration published a case analysis on Thursday via WeChat, detailing its ruling on a recent economic dispute that involved a business contract relating to possession and transfer of crypto assets.
According to the case analysis, the unnamed plaintiff signed a contract agreement with the defendant, which allowed the latter to trade and manage a pool of cryptocurrencies on the plaintiff's behalf.