The Shenzhen Bao’An District Court in China has ruled to freeze roughly $676,000 in assets of a subsidiary of Bitcoin mining giant Bitmain.
On a Dec. 13 court filing, the Shenzhen Bao’An District Court ordered to freeze 4,718,710.68 yuan ($676,000) of Bitmain’s wholly-owned subsidiary:-
Shenzhen Century Cloud Core.
An application submitted by manufacturer of electronic components, Dongguan Yongjiang Electronics caused the ruling to follow.
<img width="710" height="458" src="https://www.cryptonewspoint.com/wp-content/uploads/2019/12/shutterstock_70423096-e1525296019885-710x458-1.jpg" alt="china court" class="wp-image-7184 lazyload" />
Dongguan Yongjiang asked the court to freeze the amount to ensure it would be able to claim it in an ongoing trade contract dispute if the court rule in its favor. As per the filing, Shenzhen Century Cloud Core has the right to appeal the decision.
Source: Cointelegraph