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China’s controversial cryptocurrency landscape has taken a new twist after the Shanghai High People’s Court ruled that Bitcoin has a ‘certain economic value’ and is a virtual asset protected by the country’s laws.

The court’s decision is the first ruling on Bitcoin by the country’s legal system. Notably, China’s high people’s court ranks as the highest local court within provinces. However, it is unclear if other higher courts can adopt a similar stand on Bitcoin. Read more…https://finbold.com/chinese-high-court-rules-bitcoin-has-economic-value-and-is-legally-protected/

Chinese high court rules Bitcoin has economic value and is legally protected The Shanghai High People's Court ruled that Bitcoin has a ‘certain economic value' and is a virtual asset protected by the country's laws.

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NEW: “It’s our central bank that is financially illiterate. Restore sound money.” - Canada’s Poilievre on

Despite all the uncertainties around the mass adoption and regulations of cryptocurrency coupled with unprecedented macro/geopolitical uncertainties, has been holding up pretty well on a relative basis.

PayLot FX Foundation on Twitter “Year to date performance: Netflix -62% Shopify -61% PayPal -51.32% Facebook -40.8% ARKK -40% Nasdaq -14% Bitcoin -13% Bitcoin is holding up quite well on a relative basis despite the huge macro/geopolitical uncertainty. ”

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Quick summary of the week’s events in the crypto space.

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