A further court decision reinforces Bitcoin the digital back, since it suggests that the Asset can also be used as a compensation is used.
Bitcoin is similar to cash, says the French court
The Thesis that Bitcoin has no value, is once again broken together – this time a French court takes the side of the Cryptocurrency. A decision of the Nanterre commercial court dated 26. February had BTC and digital assets for a character to assign.
According to the court, Bitcoin is fungible and interchangeable, which is precisely the properties of money. Theoretically, all the BTC are created equal, Coins with some effort to identify. This is exactly the case of money is not unusual, as Bank notes have a serial number and are fungible.
Hubert de Vauplane, a specialized lawyer, says about the decision:
“The significance of this decision is significant, because it allows to treat Bitcoin as money or other financial instruments. You will therefore facilitate Bitcoin transactions, such as credit or Repo transactions that are in the process of growing, and thus the liquidity of the crypto-currency market favor.“
A court decision, however, is not the same as a law for the Definition of the nature of Bitcoin. In France, BTC is not illegal and is treated, in General, conform to the view of the European Central Bank, and that digital Assets are not money. The reason for this is that Bitcoin is not issued by a Central Bank or by the logic of the control of monetary policy.
Dishes to see BTC as a valuable asset
However, Bitcoin has been accepted in several legal proceedings as a valuable asset as a security or guarantee. BTC was also used for the payment of attorney’s fees.
The question of whether Bitcoin is money, is rejected by the crypto Community, sometimes, as digital tokens will be regarded as an Alternative to Fiat. But if the established authorities of the cases, the value of BTC and its application as a means of payment acknowledge, this is a big progress in terms of adaptation.
Also Bitcoin and some Altcoins were to get classified as a value, as in the case of the QuadrigaCX exchange, where an attempt has been made to the crypto-Wallets of any compensation for creditors. The loss of digital assets is recognized in the majority of cases as a material.
The main disadvantage of BTC that is used for spending and as a digital cash, is a fluctuating price. Bitcoin recently moved from a low of about $ 8,500 on up to 9.130 dollars, which brings with it the risks typical for a Trader with.