[ad_1] A Beijing-based Chinese Intermediate Court recently upheld a lower court ruling that determined that cryptocurrency is virtual property protected by law. The court clarified that regulations issued by the Bank of China and others only prohibit the circulation of virtual currency. “Funding behavior prohibited by law” An intermediate court in China recently upheld a lower court's decision that designated Litecoin as virtual property protected under the country's laws, according to a report. The court clarified that the relevant administrative regulations of the country only prohibit the circulation of virtual currency or its use as currency. The Beijing-based court's decision...