France recognizes Bitcoin as Currency! First reported by Les Echos, France recognizes Bitcoin as money! The decision was made in late February but has been made public just now.
It is believed that the decision will improve the situation with Bitcoin transactions and boost liquidity.
The Commercial Court of Nanterre was where the verdict was made that recognized Bitcoin as a fungible and intangible asset.
Hubert de Vauplane, an attorney from Kramer & Levin, says that this decision gives leeway for Bitcoin to be legally used as money. The use of Bitcoin for lending, trading, etc should increase, turning the crypto market into a more liquid one.
The decision rose from a dispute worked by the court between French crypto exchange Paymium and BitSpread, an English investment firm. In 2014, Paymium lent BitSpread BTC – when Bitcoin Cash emerged, BTC holders received BCH on a 1:1 ratio, and the question emerged whether BitSpread should return to Paymium the BCH it received.
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