A recent ruling by the Shanghai Songjiang People’s Court in China has clarified that owning cryptocurrencies is not illegal in the country. The judgment on Nov. 18 stated that digital assets have 'property attributes' under Chinese law, but their use is limited to personal ownership and as commodities, not as legal tender or investment tools. While individuals can legally possess cryptocurrencies, businesses face restrictions on engaging in crypto investments, trading, or token issuance. This ruling marks a potential shift in China's stance on cryptocurrencies, with some in the crypto community viewing it positively. Despite this, commercial crypto-related activities remain banned in China. The market continues to show signs of growth, with Bitcoin's value trading above $97,000. Various industry experts and leaders have shared their perspectives on the evolving landscape of cryptocurrencies in China and globally. Read more AI-generated news on: https://app.chaingpt.org/news