Beijing's court rejected the BTC refund under the mining contract due to the ban on cryptocurrencies – Bits Media

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Суд Пекина отклонил иск о возврате BTC по контракту на майнинг из-за запрета криптовалют - Bits Media

Beijing Chaoyang District Court rejects Fengfu Jiuxin's claim, concluding an agreement for the supply and maintenance of ASIC Mainers, due to violation of the law on cryptocurrencies. The total amount of the claim was 278 BTC.

In May 2019 year, Fengfu Jiuxin and Zhongyan Zhichuang companies signed several контрактов на покупку оборудования для майнинга, equipment maintenance and hosting agreement, according to which Fengfu Jiuxin entrusted the purchase and installation of equipment to Zhongyan Zhichuang.

Upon fulfillment of obligations under the contract, Zhongyan Zhichuang paid 18.3463 BTC. После этого выплат не было. Компания Fengfu Jiuxin подала иски в суд, чтобы власти потребовали возврата денег и компенсации убытков после истечения срока действия хостинга.

Это прецедентный случай, when is the Beijing court
declared the mining contract invalid. After the decision was made by the Sichuan provincial authorities, where was the mining done?, was ordered to prevent such situations. The court made a decision, that the financial transaction was related to mining, but the company, knowing about the possible risks of the activity and the existing prohibition, signed the contract anyway. В итоге все претензии были отклонены. По заявлению суда, контракт недействителен из-за того, «что он подрывает социальные и общественные интересы». Therefore, this situation does not fall under protection, and the parties must bear personal responsibility for the actions.

“Bitcoin has no legal status as legal tender.. Trading virtual currencies contains no real value, and prices are easy to manipulate. There are many risks when investing in “false” assets, business disruptions and the likelihood of speculation in the cryptocurrency sector", - noted in the statement.

In early October, Berkshire Hathaway Vice President Charlie Munger (Charles Munger) stated, what measures, accepted in China, absolutely true, because “madness is happening” in the cryptocurrency market.