The Commercial Court of Nanterre’s Feb. 26 ruling that Bitcoin (BTC) is a fungible, intangible asset sent some ripples through the French crypto community, and beyond. This may seem surprising, given that this was a lower court decision and, moreover, one that did not declare BTC a currency or fiat money — as some news stories reported — but just a fungible asset like money.
The ruling is “an important milestone for further development of the crypto market, particularly in France,” Roman Matkovskyy — associate professor at the Rennes School of Business — told Cointelegraph.