Litecoin Gains Extra Footing in China as Beijing Court Finds It Protected by Property Law

Litecoin gains legitimacy in China as Beijing court says it is protected by property law LTC Cryptocurrency $LTC Crypto

The judgment was made by the court as the result of an appeal about a Litecoin repayment issue. In this case, the appellant Ding Hao refused to comply with a ruling from the preliminary hearing ordering him to repay a large amount of Litecoin borrowed from the plaintiff Zhai Wenjie.

The appellant claimed that Chinese law does not provide legal protection for cryptocurrency trading. The first trial mandated that Ding pay Zhai back 33,000 LTC for the initial borrowed sum. Zhai refused, maintaining that since cryptocurrencies are fundamentally virtual assets and their Litecoin transactions were loans between friends that did not include investment or funding, they should be protected by property law.The appeal was denied by the court, which confirmed the initial decision requiring Ding to refund 33,000 Litecoin to Zhai based on property law on the protection of data and virtual property.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Utoday_en /  🏆 295. in US

Ireland Latest News, Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Harris County investigators say they're looking for who buried an unmarked casket in Barrett StationThe casket was found buried on private property near the original Barrett Station...
Read more »

2023 Chevy Tahoe RST Adds a Performance Package with More PowerThe 6.2-liter V-8 gains 13 horsepower and 7 pound-feet of torque thanks to an upgraded exhaust, and the chassis and brakes are tweaked as well.
Read more »

Source: Search of Delaware County property linked to 2014 disappearance of Amanda DeGuioAuthorities executed a search warrant at a Delaware County property in connection to the 2014 disappearance of Amanda DeGuio, according to law enforcement sources.
Read more »

Source: Search of Chester County property linked to 2014 disappearance of Amanda DeGuioAuthorities executed a search warrant at a Chester County property in connection to the 2014 disappearance of Amanda DeGuio, according to law enforcement sources.
Read more »