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China's Supreme Court Approves Use of Cryptocurrency for Debt Settlement

China's Supreme Court has released guidelines regarding cryptocurrency-related disputes, stating that settling a debt using a small amount of digital assets would be considered legal if both parties agree, according to Wu Blockchain. The court recognized that cryptocurrencies have network virtual properties but emphasized that this approach would only be permitted if there were no other valid reasons against it.

This latest development underscores China's shifting stance on digital assets and may have significant implications for cryptocurrency investors. Despite China's existing blanket ban on digital assets, the regulation of its cryptocurrency sector continues to evolve with new developments.

Cryptocurrency China
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