A South Korean court has ruled in a case that bitcoin or other cryptocurrencies are not subject to interest rate restrictions under the relevant law because they are not considered "currency," the Korea Daily Business News reported. Among them, in October 2020, the plaintiff company A and company B signed an agreement. A lent 30 bitcoins to B, agreed to return them within six months, and paid 5% interest per month (annualized 60%). However, B claimed that A violated two laws, the Interest Limitation Act and the Credit Business Registration and Financial User Protection Act, which cap all loan interest at an annual rate of 24%, and Company A subsequently sued, saying B did not return the borrowed cryptocurrency after the agreed settlement date, and the court ruled in A's favor, arguing that Bitcoin is not considered "currency" and that current law does not apply to agreements between companies.