🚨 Crypto Regulation Milestone: China's Supreme Procuratorate Clearly Recognizes Bitcoin as Property
Big news today — China’s Supreme People’s Procuratorate cited the Qingdao case, marking the first time it has clearly stated that "stealing Bitcoin constitutes theft." The defendant was sentenced to 10 years and 9 months for stealing 107 BTC.
📌 Key Points:
• This is the first time the judiciary in China has confirmed BTC's "property" status under the Supreme Procuratorate's name.
• In the case, the suspect memorized the mnemonic phrase to steal BTC, which was classified as theft.
• 107 BTC is currently valued at around $6.84 million, and the sentencing reflects the recognized value of the property.
🔍 Market Overview:
• $BTC is currently around $64,000, experiencing narrow fluctuations over the weekend.
• $ETH whale sold 3,000 ETH (approximately $4.98 million), cashing out after holding for 3 years.
• $XRP dropped 27% to $1.13, but on-chain daily trading volume surged by 35%, with RWA assets skyrocketing by 124%.
• Binance saw a net inflow of about $38.73 million in USDT over the past hour, with funds continuing to flow in.
💡 Impact Analysis:
From "ban" to "protection," the regulatory stance is shifting from outright prohibition to recognizing and safeguarding digital asset rights. This is a positive signal for Web3 practitioners and investors.
⚠️ The above content is for reference only and does not constitute investment advice.
Big news today — China’s Supreme People’s Procuratorate cited the Qingdao case, marking the first time it has clearly stated that "stealing Bitcoin constitutes theft." The defendant was sentenced to 10 years and 9 months for stealing 107 BTC.
📌 Key Points:
• This is the first time the judiciary in China has confirmed BTC's "property" status under the Supreme Procuratorate's name.
• In the case, the suspect memorized the mnemonic phrase to steal BTC, which was classified as theft.
• 107 BTC is currently valued at around $6.84 million, and the sentencing reflects the recognized value of the property.
🔍 Market Overview:
• $BTC is currently around $64,000, experiencing narrow fluctuations over the weekend.
• $ETH whale sold 3,000 ETH (approximately $4.98 million), cashing out after holding for 3 years.
• $XRP dropped 27% to $1.13, but on-chain daily trading volume surged by 35%, with RWA assets skyrocketing by 124%.
• Binance saw a net inflow of about $38.73 million in USDT over the past hour, with funds continuing to flow in.
💡 Impact Analysis:
From "ban" to "protection," the regulatory stance is shifting from outright prohibition to recognizing and safeguarding digital asset rights. This is a positive signal for Web3 practitioners and investors.
⚠️ The above content is for reference only and does not constitute investment advice.