In a recent ruling, the French court has qualified Bitcoin as a fungible interchangeable asset that’s not individualizable, just like fiat money. A reputed French lawyer noted that this decision by the court will favor the liquidity of the crypto market. According to a recent local French news report, the Commercial Court of Nanterre has decided to qualify Bitcoin as a fungible interchangeable asset that’s not individualizable, just like fiat money. This ruling was a part of a dispute between Paymium, a French crypto exchange, and BitSpread, an alternative asset investment firm. Paymium reportedly loaned 1,000 BTC (over $9.1 million as of press time) to BitSpread in 2014. While holding these loaned 1,000 BTC, BitSpread also got hold of 1,000 Bitcoin Cash (BCH) when the hard fork creating the altcoin took place in 2017. The two parties are now disputing over the rights to the BCH, which is worth more than $350,000. To resolve the dispute, the court had to define the legal nature of Bitcoin and after classifying it as a fungible asset, it identified BTC lending as a consumer loan. A loan of this nature transfers ownership of the property to the borrower during the term of the loan. The court has ruled that the Bitcoin Cash belongs to the borrower just like dividends belong to shareholders. Hubert de Vauplane, a specialized lawyer at law firm Kramer & Levin, said: The scope of this decision is considerable because it allows Bitcoin to be treated like money or other financial instruments. It will therefore facilitate Bitcoin transactions, such as lending or repo transactions, which are growing, and thus favor the liquidity of the cryptocurrency market. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next USD/JPY probes 103.00 after comments from US trigger risk reset FX Street 3 years In a recent ruling, the French court has qualified Bitcoin as a fungible interchangeable asset that’s not individualizable, just like fiat money. A reputed French lawyer noted that this decision by the court will favor the liquidity of the crypto market. According to a recent local French news report, the Commercial Court of Nanterre has decided to qualify Bitcoin as a fungible interchangeable asset that’s not individualizable, just like fiat money. This ruling was a part of a dispute between Paymium, a French crypto exchange, and BitSpread, an alternative asset investment firm. Paymium reportedly loaned 1,000 BTC (over $9.1 million… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.