The Shanghai No 1 Intermediate People & # 39; s Court publicly made an appeal announcing a foreign compensation claim for Bitcoin on May 6, according to Baidu News.
The findings of the Second Court show that Bitcoin is a digital asset and should be protected by law. All Bitcoin obtained through illegal means must be returned or compensated at a discount, the local news says.
All of them started with a rob
According to the report, an international couple in Shanghai, Pete and Xiaoli Wang, were robbed in their apartment by four people in 2018. The robbers forced the couple to transfer their crypto currency to the & # 39; s attacker's accounts. The reporter said:
"These four used methods to control the couple's mobile phones, restrict their freedom, beat and threaten and force the two to transfer all 18.88 bitcoins and 6466 sky coins that they have."
In the first hearing, the group of four expressed their willingness to get the Bitcoin and Skycoin back from Pete and Xiaoli Wang. The court sentenced the robbers to between six months and fifteen days to eight months imprisonment for the crime of illegal detention.
The court also ruled if the guilty parties were unable to recover the same cryptocurrency, they should instead repay local currency valued at June 12, 2018 at the same price as BTC and Skycoin.
Not easy from the & # 39;
However, the four refused to accept the decision. They appealed the ruling, saying:
“Current Chinese laws do not recognize the properties of Bitcoin and Skycoin ownership, and do not consider Bitcoin and Skycoin as objects or property in China's legal sense. Therefore, Pete and Wang Xiaoli do not have the right to request the return of ownership rights. "
After nearly 2 years of fighting in & # 39; court, the couple finally gave up on getting their Skycoin back. However, they continued to insist that the court order the refund of their Bitcoin. The court eventually ordered the four robbers to return the couple's 18.88 BTC.
As Cointelegraph previously reported, similar disputes have happened in China in the past. The Chinese court in Hangzhou made the same decision, recognizing Bitcoin as virtual property.