- Wenjie is entitled to the protections accorded to the owner of virtual property. - In its ruling on cryptocurrencies, the court said that although LTC is a “network currency.” According to a recent report, a Chinese intermediate court reiterated a lower court’s decision that litecoin is a virtual property protected by Chinese law. The court made clear that the applicable administrative legislation in the nation does not prohibit the use of virtual currencies as a whole, just their circulation and use as money. After a Beijing court heard Ding Hao’s appeal, it ruled that he must repay 33,000 litecoin...