View of the Beijing Arbitration Commission: The state does not prohibit Bitcoin’s activities as a virtual commodity

Wang Jin, an arbitrator of the Beijing Arbitration Commission, wrote an article “Discussing Ideas on Bitcoin Disputes from the Legal Nature of Bitcoin”. The article believes that China’s current regulatory attitude towards Bitcoin mainly includes the following three aspects: 1. Bitcoin is not legal tender; 2. Bitcoin is a virtual commodity; 3. The state prohibits token financing trading platforms from engaging in legal tender and Exchange of tokens and virtual currencies among other activities. Regarding the legal nature of Bitcoin under China’s current regulatory system, two points are worth emphasizing: 1. As China currently does not have a law on Bitcoin, it cannot be considered as a virtual version of Article 127 of the General Principles of Civil Law. Property; 2. Based on the principle of statutory property rights, without clear provisions in the law, Bitcoin cannot be regarded as a “thing” in property law. To sum up, the author believes that, except for the activities of Bitcoin as legal tender and the activities specified in paragraph 3 above, countries do not prohibit Bitcoin’s activities as virtual goods. According to the chain, the Beijing Arbitration Commission was established in September 1995 in accordance with the “Arbitration Law of the People’s Republic of China”. It is an independent, fair and efficient solution to contract disputes and other property rights disputes between natural persons, legal persons and other organizations as equal subjects. Permanent arbitration institution.