Chinese arbitration court rules Bitcoin is legally protected as property
A Chinese arbitration court has ruled that despite the countrys central banks ban on cryptocurrency trading, Bitcoin should still be legally protected as a property with economic values. The Shenzhen Court of International Arbitration published a case analysis via WeChat, detailing its ruling on a recent economic dispute that involved a business contract relating to possession and transfer of crypto assets.
The arbitrator stated that there is no law in China currently that prohibits the possession of Bitcoin and its transactions between individuals. Hoko atu, it said there should be no technical difficulties in sending Bitcoin as long as one has a Bitcoin address and private key. The court concluded that, tatau ai pe pe ko e Bitcoin ha pa'anga fakalao pe 'ikai, 'Oku 'ikai ma'u ha ola 'i he fo'i mo'oni ko ia Bitcoin 'oku totonu ke malu'i 'a e tokotaha 'oku 'a'ana fakalao 'o makatu'unga 'i he fono 'o e aleapau Chinas, tanaki: “Bitcoin ai e natula 'o ha koloa, 'a ia 'e lava ke ke ma'u mo pule'i ia 'e he ngaahi fakafiefia, pea 'oku lava ke 'omi 'a e ngaahi tu'unga 'ulungaanga mahu'inga faka'ekonomika mo e ngaahi monu'ia.”
'Oku faka'ata 'e he Blockchains fo'ou hono ualeta ko hono fetongi 'aki crypto ki he crypto
Blockchain, Ko e taha ia 'o e lahi taha e polokalama fakakomipiuta ualeta ha kau tauhi 'i he fa'a ngaue cryptocurrency launching 'a e hono 'uluaki koloa 'o e naunau. 'Oku ngaue fakataha Ledger, they started taking orders for a new handheld device called Lockbox, which begins shipping next month. Blockchain CEO and co-founder Peter Smith said that in addition to storing funds offline like other devices, it will facilitate crypto-to-crypto trades through Swap, the companys native brokerage, which is launching next week.
The Blockchain CEO went on to say “For us, whats really important right now is to get the product to a point where you don’t need other places to complete your user actions in crypto.” Ledger president Pascal Gauthier said “With our products, you can go from cold to hot storage in a heartbeat and the device will never reveal the key, so it means that it opens many avenues, especially for traders.”
Sony develops contactless crypto hardware wallet
Electronics giant Sony has developed technology to help cryptocurrency users store their assets more securely, and this technology might be coming soon to store near you. The Japanese tech conglomerate announced that its Computer Science Laboratories division (Sony CSL) had developed a cryptocurrency hardware wallet that could be used to store Bitcoin and other digital assets in a secure offline environment while retaining the convenience of less-secure online crypto storage systems.
Unlike conventional cryptocurrency hardware wallets like the Trezor One and Ledger Nano S, which connect to the users PC or mobile device using a USB cord, Sony CSLs wallet would store the users private keys on a contactless IC card, enabling the user to easily sign transactions from an NFC-enabled mobile device.
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