How to handle the original Bitcoin mining contract invalidation case

is,Case report

As a "condemnation!" Published by the People's Court News on December 15, 2021 at 8:58 p.m., the first case in Beijing court found that Bitcoin's "mining" contract is illegal (later """The initial mining contract fails"") Summary of the Chaoyang District People's Court in Beijing yesterday morning (later" ")Tribunal de Chaoyang") The hearing and settlement of the service contract dispute arose out of Bitcoin mining's failure to provide services to pay revenue as agreed.

Selon l'article « Initial Mining Contract Failed » :

In May 2019, Fengfu Jiuxin and Zhongyan Zhichuang companies signed "Computer Equipment Purchase Agreement", "Service Agreement" and "Cloud Data Server Hosting Agreement and Value Added Services Agreement" for data ”, and the company Fengfu Jiuxin signed for the company Zhongyan Zhichuang. would rely on sourcing, managing micro-storage servers (i.e. miners), providing value-added data for Bitcoin mining and paying revenue to add revenue from Fengfu Jiuxin to Zhongyan Zhichuang Company for cost management. After signing the contract, Fengfu Jiuxin The company paid 10 million yuan to the Zhongyan Zhichuang company. Zhongyan Zhichuang Company bought "mining machine" and signed a contract with a third company. Mine 'works wm.

At the time of closing the deal, Zhongyan Zhichuang Company paid Fengfu Jiuxin Company 18.3463 BTC for value-added information and has not paid any additional fees since. Fengfu Jiuxin company appealing for nonsense asked court to order court to send 278.1654976 bitcoins to Zhongyan Zhichuang company and pay for loss of micro-storage server after expiration of service. "(below"Dispute over mining agreements between Fengfu Jiuxin and Zhongyan Zhichuang")

After the trial, the first verdict of the Chaoyang court:

The agreement on the matter was false and absurd, and the plaintiff's request for a massive Bitcoin payment was rejected.

ob,the court saw

Chaoyang Court said:

Fengfu Jiuxin Company and Zhongyan Zhichuang Company Know"dig the ground"And the Bitcoin market is risky, and the authorities are clearly restricting interference with Bitcoin as well as signing agents."dig the ground"The contract, this agreement, will be void for damage to the public interest of the person, and the property and benefits that flow from it will not be viable. protected by law, and the benefits resulting from the above acts must be borne by both parties themselves. .

The court ruled that "the industry affected by this situation is the ability to 'mine' using a special 'mining' machine to calculate the value of virtual currency." Decision:

(1) These "mining" activities use a lot of energy and carbon emissions, which is not necessary for the improvement of our national economic standards, the conservation and reduction of energy, and at high and medium carbon content;

(2) There are a number of risks, such as the risk of counterfeiting of assets, the risk of business failure and the risk of investment failure, in the design and implementation of the market for Virtual currencies is important and harms the public interest of human beings.

Three,About "mining"the leader

National Development and Reform Commission, Communist Party of China Central Propaganda Department, Office of the Cyber ​​Security and Information Committee of the Communist Party of China Central Committee, Ministry of Industry, Information Technology, Ministry of Public Security, Ministry of Finance, People's Bank of China, State Administration of Taxation, State Administration of Commerce, State Bank of China "Virtual Currency" Mining "Notice of New Operations" provided by the Insurance Regulatory Commission and the 'National Energy Agency on September 3, 2021 (Construction and Modification Act [2021] N ° 1283, here.rov 1283"), the virtual currency" mining "game designates the process of counting and creating virtual currencies by devoting yourself to the" mining machine ".

Now, the “mining industry” is clearly doomed and is exploding in our country.

On May 21, 2021, at the 51st State Council Finance and Development Council meeting, he declared that "we will eliminate bitcoin mining and trading and decide to prevent the spread of self-defeating relationships."

According to the 8 decisions and decisions (draft for opinion solicitation) of the virtual currency "mining" of the Inner Mongolia Autonomous Region Development and Reform Commission issued by the Autonomous Region Development and Reform Commission of Inner Mongolia on May 25, 2021 (still valid), "mining" of virtual currency "Improve practices, strengthen collisions and penalties, establish long-term monitoring, market management, big data in the industry and hedging against financial risks.

On May 27, 2021, the Baotou Development and Reform Commission (Bao Fa Huan Zi Zi [2021] 276 "), in order to improve and close the virtual" mine "project, a letter to the virtual" mines "bank and personal issues Acceptance of visits, announcements are as follows: 1) Virtual currency "mining" companies (including other confidential information of "mining" companies and legal persons), individuals 2) inside companies and information centers disguised as virtual currency "mining" people who prefer the special rules of taxes, real estate, and utilities; 3) virtual currency "mining" corporations and individuals; corporations or "mining" currency providers such as leases, companies as sellers and people who receive and engage in the "mining" virtual currency industry.

Circle 1283 of September 3, 2021, pointed out that the virtual benefits “market” has “high energy consumption and low carbon emissions, less beneficial to the country”. of virtual products "., the risks associated with the integration of the industry have been pointed out, and its blindness and poor development have a negative impact on the quality of the enterprise and the development of the quality and support of the Energy conservation and emission reduction It is very important to optimize our national business model, to promote it Conserve energy and reduce emissions and achieve our CO 2 and medium term objectives. "

According to the Communist Party of China on September 15, 2021, the Office of the Cyber ​​Security and Information Technology Committee of the Communist Party of China Central Committee, the Supreme Court, the Supreme Court, the Ministry of Industry and Technology of information, Ministry of Public Security, State Administration of Commerce, Financial Regulation and Insurance of China "Notice on Prevention and Exploitation of Terrorist Crime in Financial Field" provided by the Board of administration of the Finance and Investment Commission and the State Department of Foreign Trade (Yinfa [2021] No. 237, below ""at 237"), the People's Financial Corporation of China, the Central Administration of Cyberspace of China and other companies continue to improve the process of monitoring crypto assets to take advantage of the virtual benefits of" mining ", any the chain of changes and backup and data backup constantly.

On November 10, 2021, the National Development and Reform Commission held a video conference on the management of virtual resources "mining industry", the meeting said that each state, region and cities under direct control must be stable for the export of virtual currency. "mining" repair work, I cleaned and repaired my "mining market" virtual currency and strictly to investigate and continue "business" activities related to state agency computer labs.

On November 16, 2021, National Development and Reform Commission spokesperson Meng Wei pointed out that the practice of "investing" in virtual currency is bad. The next step will be to complete the reform, which focuses on state institutions, including trading in the medium of "mining", "mining" and Bitcoin "mining". For households using electricity bills, if they find that they have been involved in virtual "mine" projects, they learn more about electricity bills, creating a crisis that keeps changing outcomes. virtual "only". .

four,Civil law contracts are void.

"Civil Law of the People's Republic of China" (Presidential Ordinance No. 45, hereinafter ""Civil right"") Chapter 153;Violations of civil law required by law and regulatory jurisdiction are null and void. However, this is not the case when unconstitutional civil laws are required by law. Civil law which interferes with public culture and morals is false.

There are no laws or regulations governing the "government" activities mentioned. Among them, Circular 1283 and Circular 237 belong to the construction authorities.

In application of article 31 of the judgment “November of the National Labor Court” (Rule [2019] n ° 254) rendered by the Supreme Court of the eleventh August 8, 2019:

"Violations generally do not affect the validity of the contract, but the contract is considered null and void if the terms of the law include public order and customs such as financial security, trade security, and macro-countries. . When deciding which law contains good public and cultural decisions, the people's court must carefully consider the strength of the guardianship, the protection of security from economic and social influences, and justify it in its decision, based on the analysis of the equipment.".

In accordance with the above rules, any violation of the country's financial security, economic cooperation, macroeconomic policy and other factors will be considered a violation of civil and cultural property and the contract may be considered invalid. According to Law 1283, "the mining industry" is the use of high energy, high efficiency emissions that do not help achieve the goal of carbon monoxide and carbonaceous medium and other macro policies in the country. Simple financial transactions can lead to illegal and criminal activities such as gambling, illegal spending, fraud, pyramid schemes and money laundering, which are not necessary for the financial security of our country and the economic and social development.

In light of this,"dig the ground"Such behavior will be considered a violation of public and ethical conduct and the contract will be invalid.

In the case of the dispute over the Fengfu Jiuxin and Zhongyan Zhichuang mining contract, the Chaoyang court ruled on two main reasons for the contract's invalidity.

(1) “Mining operations” have high energy and carbon emissions, which is not necessary for improving our national economic standards, energy conservation and low efficiency, and operations “Only” high carbon and medium carbon are very energy efficient and do not help meet the highest targets, carbon support and other national macro rules.

(2) In case of risk of counterfeiting of assets, risk of market failure and risk of speculation due to the production and trading of currencies Virtual virtualization is important, the risk of compromising the public interest is significant . And the financial decision is about gambling, financial fraud, fraud, pyramid schemes, money laundering and other criminal and criminal activities, which is not necessary for our country's financial security and development. Economic and Social. "

five,realization of this case

Li Zenghui, the judge in this case, also said that Bitcoin does not have the same rights as our national fiat currency, the virtual currency market does not support the real value, the price is easily controlled and there is a risk of counterfeiting. . There is a risk of business failure in the financial and business world of token advertising, the risk of investment speculation and many other risks. Leading national regulatory agencies have repeatedly warned consumers that the emergence and decline of virtual and business investments must be borne by both parties themselves, and that the public must be aware of risk prevention and of the risks of trading virtual currencies. . .

As the first invalidation of the Bitcoin mining contract occurs, this event will have an important and far-reaching history in the development of the asset market. All we have to do is find out more.

(1) Will a decision be made by another district regarding the decision of this matter?

(2) Will the judge deal with the decision in this case?

(3) Are valid contracts of Filecoin and other virtual currencies affected by this?

(4) Following the decision of the case, the Chaoyang Court sent a decision to the Sichuan Development and Reform Commission to provide advice on mining data related to the case and recommended to the departments keys to clean. Behaviors like more mining can be expected to change.

(5) What are the other advantages of mining contracts?

(6) If the contract is not a direct link but a specific link in the mining industry, is the contract considered non-existent?