Asia Gaming Brief
A recent legal opinion from a Shanghai court has provided significant clarity on the status of cryptocurrencies under Chinese law, confirming that personal ownership of crypto assets is not illegal. This comes even as the country’s digital currency head is accused of bribery.
The ongoing cryptocurrency boom has been offering notable benefits to the iGaming sector by providing fast and cost-effective payment solutions. In this context, China’s position as one of the world’s largest players in the crypto market could be crucial for future developments.
In an article published this week on the Shanghai High People’s Court’s official WeChat account, Sun Jie, a judge at the Shanghai Songjiang People’s Court, addressed a lawsuit involving disputes between two companies over an initial coin offering (ICO), a form of fundraising that China deems illicit. Sun’s opinion affirms that, while business-related crypto activities remain prohibited—including cryptocurrency investment and token issuance, individuals can legally hold digital currencies such as Bitcoin.
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China court rules crypto ownership legal, as digital currency head accused of bribery
