BTCKan also reported the new General Provisions Draft could give bitcoin users new legal channels in case of theft ? treating them as similar to personal data stolen in an information leak or hack. The same rule would apply to non-blockchain-based digital assets such as tokens earned in games.I think the law indeed gives Bitcoin fans a new confidential atmosphere to go further on blockchain technology.
“Bitcoin is not published by monetary authorities, hence it lacks currency nature such as law-enforced-compensation and enforceability, and concludes that bitcoin is not a true currency. By its nature, bitcoin is a certain type of virtual commodity. It does not enjoy the same status of a currency in law. It cannot and should not be circulated and used in the market like a currency. But, bitcoin transactions is an online transaction of commodities, ordinary citizen enjoy the freedom of participation on their own risks.”The proposed new law will alter this perception, though it still does not define Bitcoin as a currency. To date, no national government has dared to bestow that status on a cryptocurrency.
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