China Rules Bitcoin is Property Under Criminal Law in Landmark Decision

In a landmark case, Qingdao prosecutors have clarified the legal status of Bitcoin in China by ruling that it constitutes property under criminal law. This decision has significant implications for how digital assets are treated in Chinese courts and paves the way for prosecution of theft and fraud cases involving cryptocurrency.

The case involved a defendant who stole 107 Bitcoin from a victim, selling them for over 660,000 yuan (approximately $91,000). The court used the actual amount received by the defendant as the value of the stolen assets, rather than the market price at the time of the crime. This approach provides a clear valuation method for future cases.

The ruling aligns with earlier civil court decisions that recognized Bitcoin as property protected by law. While China maintains a ban on cryptocurrency trading and mining, this decision ensures that victims of theft have legal recourse and that criminals cannot exploit regulatory ambiguity to evade justice.