- France officially recognizes BTC as a form of payment
- French court rules in favor of a borrower after recognizing BTC as a legal tender
- This has been a historic week for digital assets
Cryptocurrency News Today – the digital currency space has once again received some good news. This has strengthened the legitimacy of the asset class. According to recent reports, the Commercial Court of Nanterre in France has issued what has been described as a historic ruling. The court reportedly recognizes the leading digital asset, Bitcoin, as a legit form of currency for payment. A legal tender.
This news brought excitement to the crypto community in France and the rest of the world. They have welcomed the court’s decision as an excellent move for the asset class. Making BTC a legal tender is giving digital assets the legitimacy they deserve after many years of classification troubles.
The Commercial Court of Nanterre in France Issued the Ruling
Per one report given by a French local news entity: the Commercial Court of Nanterre of France has recognized bitcoin as a legal tender. This ruling came during a case between a French crypto exchange called Paymium and a UK-based alternative investment company known as BitSpread. Paymium loaned 1,000 Bitcoins to BitSpread just before the BCH hard fork. The court’s ruling favors the borrower after it recognized bitcoin as a legal form of money.
Following the BCH hard fork, Paymium and BitSpread claimed that they owned the Bitcoin Cash. The court ruled in favor of BitSpread. The case forced the French court to consider Bitcoin’s legal nature. The Commercial Court of Nanterre found that BTC lending is similar to any other consumer loan. This ensured that French Authorities granted Bitcoin legal status. Making it a historic day for cryptos.
This Has Been A historic week for Digital Assets Globally
It will appear that this has been an excellent last few days for crypto. New developments have brought up some good news for crypto regulations on a global scale. Here are a series of reports to back this:
– The Supreme Court of India lifted its banking ban on crypto in the country which automatically allows users to invest and trade digital assets in the country.
– The South Korean parliament recently passed a crypto bill. The new legislation will make crypto trading a legal activity in the Asian country.
– Now a Commercial Court of Nanterre has declared that BTC is a legal tender
The recent favorable regulations relating to crypto can boost adoption in the future considerably.