Chinese Court Freezes Assets of Bitcoin Company!

Source: CoinTelegraph

The Shenzhen Bao'An District Court in China has ruled to freeze roughly $676,000 in assets of a subsidiary of Bitcoin (BTC) mining giant Bitmain.


According to a court filing released on Dec. 13, the Shenzhen Bao'An District Court ordered to freeze 4,718,710.68 yuan ($676,000) of Bitmains wholly-owned subsidiary, Shenzhen Century Cloud Core. The ruling follows an application submitted by a manufacturer of electronic components, Dongguan Yongjiang Electronics, on Sept. 24.

Dongguan Yongjiang asked the court to freeze the amount in order to ensure that it would be able to claim it in an ongoing trade contract dispute should the court rule in its favor. Per the filing, Shenzhen Century Cloud Core has the right to appeal the decision.



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