Property and digital data , including digital currency that can be recognized as ' Civil Rights ' official in China , based on the announcement of the new Civil Draft . This gives people a strong security over the law for this kind of non-material assets .
' Objects of Civil Rights '
If this bill is passed , currency Bitcoin and other digital , online gaming cards and general information data will be officially recognized as ' Objects of Civil Rights ' nationwide .
Dan Li , CEO of Site Information and News Bitcoin China BTCKan that the draft is a good news , a positive step , which will promote the growth of Bitcoin community .
BTCKan also reported new Civil Draft can bring Bitcoin users a new channel of legal protection in case of theft - dealing with similar cases of personal data being stolen hackers steal information . Similar laws are applied to the digital asset is not based on asset blockchain eg games or card games earn .
Legal Background
The draft was made in the 12th session of the General People's Congress - China's parliament in Beijing on 27.06.2016.
The draft law includes 2 related to the asset class digital and data-based information. The first rule is 104, stating 'object' here include "real estate and real." Right or specific digital assets is defined as "objects of ownership" by law current law must be treated accordingly. The second rule of Article 108.2.8 related to Intellectual Property and data information.
The new rules are the result of many years of debate among legal aspects of personal information and digital assets in China, because of the technological advances mean more and more people will own resources immaterial production.
China Civil Code defines these objects can be seen as personal property of the people as "lawful income, real estate, cash, living equipment, historic, books and materials, forests, and other means of production is the law of conservation of the property and other legitimate. "the non-image items is not mentioned explicitly.
Bitcoin & Central Bank of China
informed of Risk Prevention Bitcoin , is published by the Central Bank of China ( PBOC ) , 2013, is an attempt to find out the legal personality of Bitcoin . This has led to confusion in the Bitcoin community and international China at the time, said that the Chinese government has tried to ' ban ' Bitcoin .
In fact never had any bans in China Bitcoin and Bitcoin exchanges still operating normally , although the floor has warned users to avoid excessive speculation , limit risks .
The draft law will change this perception, although it still does not specify a currency Bitcoin. So far, no country would dare to publish the above status for any one type of digital currency.
The exact value is not clear
However, what the draft is not defined, the digital assets so valuable. Does a pregnant stolen Bitcoin market value at the present time, or is worth the time it was stolen? How to price between different floor? And in case the units are issued by a central system, what difference if they can not multiply indefinitely (and thus easier to change)?
These issues may have to be decided once actually arising in practice.
