Chinese court ad determined that citizens can trade cryptocurrencies despite provision in digital asset services of which part of the country China's No. 1 Intermediate People's Court announced that interested investors can only trade cryptocurrencies but must be dealt with as virtual assets do not act as a currency the ruling was made in a case involving a crypto loan with the promise to pay interest in digital currencies although the court recognized the existing Chinese ban on cryptocurrency trading the presiding judge noted that LTC could not be treated as a currency according to the information and real administrative cases our country only denies the monetary attributes of the virtual currency and prohibits its circulation as currency but the virtual currency itself is a virtual property protected by law dictating to the court that it is valid It is worth noting that different Chinese regional courts have em issued various rulings on the trade and management of digital assets, for example, the Shanghai People's Court ruled that bitcoin has a certain economic value and is protected by the laws of the country