Many courts have concluded that Bitcoin "market" contracts are illegal and are falling apart.

fist! Many courts have found that Bitcoin "market" contracts are illegal and fail.

Recently, the Beijing Chaoyang Court held a public hearing and ruled on a dispute settlement agreement regarding a delay in mining revenues from Bitcoin. Big Bitcoin Continue.

Industry experts say Bitcoin speculation has led to a number of "industrial" problems, resulting in huge wastage of electricity, which falls short of the country's "double carbon" goal. In addition, virtual currencies like Bitcoin are not very profitable and not really profitable. Participation in the market is only an estimate. To be aware of the risks, citizens must protect their "pockets".

Virtual virtualization and other forms of communication pose a threat to the well-being of the community.

Judging by the illegality of the Bitcoin "mining" agreement, in May 2019, the companies Fengfu Jiuxin and Zhongyan Zhichuang signed a "Computer Equipment Purchase Agreement", a "Service Agreement" and "Cloud data server hosting services and value-added data" signed an agreement "." Fengfu Jiuxin Company to purchase and manage micro-storage servers (eg "mining technology") for Zhongyan Zhichuang Company , provide valuable information to Bitcoin "research" and pay for additional income services Agreed to delegate Fengfu Jiuxin The company is expected to provide payment management for Zhongyanzhi start-up

After signing the contract, Fengfu Jiuxin Company paid 10 million yuan to Zhongyan Zhichuang Company. Zhongyan Zhichuang Company bought the "mining machine" and signed a contract with a third company. The "mining machine" in Muli County and the "mine" in Shuiluo and Shawan Towns, Liangshan County, Sichuan Province, are in operation. At the time of closing the deal, Zhongyan Zhichuang Company paid 18.3463 bitcoins to Fengfu Jiuxin Company based on the value added tax information, and has not paid any additional income since then. . 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.

Chayoyang court believes that the industry has been considered "competition" which creates virtual currency by special "miner". These "competitions" games electronic and gaspes are safe, and non-carbon and derivatives into six carbon and derivatives. Feng Fuzhijiu Company and Sino-Studies Zhuuuang Company, and the risk of risk, and risk of marketing, and risk of industry corrupted by Failure to complaint and authority may occur. Policies must not be protected. The results of the action above should be borne by both sides. Finally, the court was recognized that the parties are not valid, and the Feng Reng-Xinx-Xinxin companies rejected by companies.

According to Li Zenghui, president of the tribunal in charge of the case, in September this year, 10 departments and committees, including the National Development and Reform Commission, jointly issued a "Report explaining the conditions of mining." virtual currency. Untangling the "mining" industry and its indiscriminate and negative development has a negative impact on economic well-being and the growth of relationships and promotes energy conservation and emission reduction, and effective measures must be taken to deal with all the virtual benefits "of mine". Thu Judge Li Zenghui reminded us that all manufacturing and marketing activities should be carried out in the manner permitted by national industry laws and regulations. public interest.

Following the trial, the Chaoyang court sent a decision to the Sichuan Provincial Development and Reform Commission to investigate the Bitcoin "mining" project involved in the case and banned the companies from participating in the case. case four by continuing "only" operations. , find and eliminate "mining" projects and other "mining" projects in local virtual currency.

Investment loss and virtual currency trading

born from both sides

Coincidentally, the Dongcheng City People's Court recently ruled in favor of the Bitcoin "mining" contract price dispute. In this case, by applying the "green principle" of Article 9 of the Civil Law, it was determined that bitcoin mining is a dangerous investment game which uses huge capital and does not help achieve the “double carbon” objective. that this is incorrect and that the damage is caused by the person himself.

In the past, regulators have repeatedly said that virtual currencies like Bitcoin are not fiat currencies and are not really profitable. Participation in the market is only an estimate. You need to be aware of the risk, always stay away and protect your "pocket".

“Bitcoin does not have the same rights as our national fiat currency. The virtual currency market has no real value and the price is very easy to manage. There are many risks, including risk. Exposure, business failure and investment speculation. The symbolic report of the State Homeland Security Department on the risks of borrowing and trade has also been pointed out in several articles. Notice to consumers that The emergence and loss of investing and trading in virtual currencies must be borne by both parties themselves. The public knows us. Increase it, avoid the risk and be aware of the risks of the cryptocurrency market. 'Li Zenghui also Express.

The Company and several other companies have already published a "Notice on the Protection and Management of Risks Relating to the Risks of Hype in Virtual Currency Transactions" to ensure that any activity related to virtual currencies, such as currency trading virtual, constitutes a financial offense. , regarding the following: Improve monitoring and warning of the dangers of hype and other activities related to virtual currency trading. The National Development and Reform Commission and other agencies issued a “Notice of Reconstruction of Virtual Currency Mining Activities,” which prohibits investment in the development of additional and restricted plans. Do not create virtual reality “mining” projects under one name. .

Industry experts suggest that the public should understand the risks and risks of Bitcoin and other virtual currencies, prevent fraud, protect their wallets, and avoid participating in any type of trading or forecasting.