According to BlockBeats, on September 16, according to the Legal Network, the People’s Court of Yuanjiang City, Hunan Province recently heard a dispute case caused by the purchase and sale of virtual currency.
In this case, Zhou found his friend Dai, hoping to help him buy BZZ virtual currency (a type of encrypted virtual currency) for investment. Therefore, Dai was entrusted by Zhou to buy BZZ virtual currency from Zheng and “sent” the virtual currency to Zhou’s imtoken wallet. But after a period of time, Zhou sued Zheng in court, demanding the return of 76,518 yuan of funds used to buy BZZ virtual currency and payment of capital occupation fees.
The court held that civil subjects should not violate the law or public order and good morals when engaging in civil activities. BZZ coin is a network virtual currency similar to Bitcoin. It is not legally enforceable and should not and cannot be circulated as currency in the market. Virtual currency-related businesses are illegal financial activities. Citizens who participate in virtual currency transactions must bear their own investment risks.
The entrusted transactions, management and derivative refunds of BZZ coins between Zhou, Zheng and Dai are not protected by law in my country at present. The consequences of such behavior should be borne by them. Zhou’s lawsuit requesting Zheng to return the funds of 76,518 yuan for purchasing BZZ virtual currency and pay the fund occupation fee has no factual and legal basis, so the final judgment dismissed Zhou’s lawsuit request. After Zhou appealed against the judgment, the second instance court upheld the original judgment.
