Viewpoint: Bitcoin is A Virtual Commodity in China

[ChainDD report] July 31 (ChainDD) According to the Beijing Arbitration Commission, Wang Jin, an arbitrator of the Beijing Arbitration Commission, wrote an article on July 22 — "Discuss the Decision Ideas of Bitcoin Disputes in terms of the Legal Nature of Bitcoin."

The article believes that China's current regulatory attitude towards bitcoin mainly includes the following three aspects:

1. Bitcoin is not legal tender;

2. Bitcoin is a virtual commodity;

3. China prohibits token-financing and trading platforms from engaging in exchanging activities between legal currency and tokens, and among virtual currencies.

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