You would think this would be awesome news for Bitcoin and really move the crypto markets...welcome to 2018.
Chinese Courts have ruled essentially that Bitcoin (other cryptos) are not “illegal” to own and merchants can accept crypto.
At the same time, crypto does not have “the same rights as cash”. I can’t figure that one out.
I think this may be the issue of the Chinese Government having the final say as opposed to a lower court.
Essentially, Bitcoin/cryptos are ruled as a “property/commodity” not money.
Is it legal to hold property or commodity in China? Yes. Can you barter or trade with property? Yes.
I think this is a step in a positive direction for now.