The court in France recognized Bitcoin as an asset

by in Cryptocurrency News

The commercial court of France

BTC became a verified exchangeable asset in France. The court of Nanterre determined this on February 26, but the fact became known just now.

French court did a judgment after a conflict among two organizations: the French platform Paymium and the British corporation BitSpread.

The exchange advanced one thousand Bitcoins to the British corporation in 2014. After that, in 2017, the famous hard fork took place, and all the BTC owners became Bitcoin Cash holders too. Paymium went to a court to determine if the borrower would save BCH coins or return them as a part of a lent.

Trending: Cardano Completed Its Vasil Hard Fork With Success

The court settled that the first crypto is an interchangeable asset by its judicial character, which means that all the universal principals of lending can be applied to it. That indicates that BCH coins are a property of the British company.

Attorney Hubert de Wauplan thinks that the court's verdict will enable the judicial use of BTC and stimulate an increase in the number of activities with it in the country.