China court doubles down on crypto FUD. Says sector ‘not protected by law’

A regional high court in China’s Northern Shandong province’s high court said yesterday that crypto trades or investments are not “protected by law,” after reviewing a case involving the asset class, a report on SCMP stated. Local authorities feel the ruling could set a precedent for other courts in China. As such, the case marks the latest proceeding against cryptocurrencies from the historically crypto-adverse Chinese government.
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