Bitcoin to Become ‘People’s Right’ in China, New Law Proposed

In what could be a second revolution for China, Bitcoin, as well as other cryptocurrencies, online gaming tokens and other data-based information could establish itself as ‘Civil Rights’ Objects in this far eastern country.
The new civil code which is contained in the upcoming General Provisions Draft would give Chinese citizens recourse to legal remedy in case their Bitcoin or other digital assets are stolen This is similar to current legal options and is applicable to personal information being leaked, hacked or stolen.
The proposed new civil code
The General Provisions Draft was made public on the 12th National People’s Congress in Beijing on June 27, 2016.
According to China’s Xinhua News Agency’s website, Zhang Dejiang Chairman of the National People’s Congress (NPC) Standing Committee, presided over the session.
China’s national broadcaster CCTV quoted Xu Xianming of the NPC Standing Committee as saying:
“The general principles of the civil law emphasize equality and justice, reflecting and guiding our Chinese national spirit, social core value and morality. The principles meet the needs of the market system. The priorities for improving the legal system in modern times is to protect people’s civil rights, including individuals’ freedom and dignity.”

This post was published at Coin Telegraph on 2016-07-01.