Recently, a Chinese court in Beijing has ruled that "locals are permitted to trade cryptocurrencies – but not use them as a substitute for money." You can read the article here: Litecoin. While it would have been even better if it could be used as a substitute for money, it is a good step for the ownership of Litecoin. China has had many policies on cryptocurrencies over the years and many of them had made an impact. One of the most famous policies was a Bitcoin Mining ban. And although mining is currently banned in China, bitcoin and other cryptocurrencies continue to be mined. Read more about mining here.
Although mining is banned, it appears (based on this court decision) that ownership may not be. It states that Litecoin can be "traded" by locals. Whatever interpretation you have on the word, traded, you have to admit it is a step in the right direction. Not a complete ban for Litecoin is positive. Why? China has roughly 1.4 billion people. Now, 1.4 billion people could be legally allowed to own and "trade" Litecoin.
Remember that Litecoin is a global cryptocurrency. Able to spread across the globe. While governments decide on how to regulate, Litecoin is working in a decentralized manner. It doesn't require regulatory clarity in order to work. While it would be nice to have clarity from all governing bodies, it is not necessary for the project to work. And to speculate a bit, if citizens around the globe experience hardship and inflation, Litecoin is going to attract more and more eyeballs because it is working, and has worked for 100% of its history.
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