In recent years, with the development of the Internet
" virtual currency " has emerged
Bitcoin, Ethereum and other virtual currencies
trading speculation activities are prevalent
Many people choose to run partnerships
But if they lose money
this loss How to calculate it?
Case details
In 2018, the plaintiff Li and the defendant Zhang began to verbally cooperate in investing in financial products and jointly operated the virtual currency Ethereum, and it was agreed that Zhang would be responsible for buying and selling.
In 2019, the two parties reconciled and confirmed that Li’s investment amounted to more than 900,000 yuan, and Zhang’s investment amounted to more than 300,000 yuan. During the period, income was successively distributed and some ether coins were not sold at that time.
On August 11, 2020, Zhang sold all the remaining Ethereum coins without discussing with Li. Li repeatedly asked Zhang to pay financial management income, but Zhang refused.
therefore filed a lawsuit in court.
Ether is a network virtual currency . According to notices and announcements issued by the People's Bank of China and other departments, the virtual currency is not issued by a monetary authority and does not have legal and compulsory currency attributes, and its does not It has the same legal status as currency. cannot and should not be used as currency in the market. Any so-called token financing trading platform shall not engage in the exchange of legal currency, tokens, and "virtual currencies". business.
Therefore, under the current background, the behavior of the two parties to operate Ethereum in partnership cannot be protected by law. The partnership agreement relationship between the two parties is an invalid contract due to violation of legal provisions .
Therefore, the judgment in this case was that the remaining investment amount should be distributed according to the investment ratio of both parties. At the same time, both parties should bear corresponding responsibilities for the losses of Ethereum in the partnership, and the plaintiff's other claims were dismissed.
emphasize again! ! !
Virtual currency does not have the same legal status as legal currency
Therefore, virtual currency
cannot be used for borrowing, repaying
or paying wages
Case 1
Lin as the lender, Liu as the borrower, signed A "Loan Agreement" was drawn up, stipulating that: Liu borrowed 10 million yuan from Lin, and Lin purchased the equivalent Ethereum digital asset, namely Ethereum currency , and transferred it to the account designated by Liu. Liu should receive the The loan will be returned to Lin in the form of RMB within one year after the loan. After the "Loan Agreement" was signed, Lin transferred 3,165 ether coins to Liu's designated account. Liu issued a "Receipt of Payment" confirming receipt of RMB 10 million from Lin.
Later, because Liu failed to repay the loan as agreed, Lin filed a lawsuit with the court, requiring Liu to repay the loan principal of 10 million yuan and corresponding interest.
The court ruled that
Lin and Liu's Ethereum transaction
disrupted the financial order
harmed social and public interests
Therefore, the
"Loan Agreement" signed by Lin and Liu was invalid
The resulting losses
by the parties concerned Responsible
Therefore rejected Lin’s claim
Case 2
In June 2019, Shen signed a labor contract with a network technology company. During the actual performance of the contract between the two parties, the company actually paid wages in the form of RMB + virtual currency Tether . On June 16, 2020, Shen submitted his resignation to the company, but the company has not paid his salary.
After Shen took the company to court, the company wanted to pay in the form of virtual currency .
After trial, the court held that
Tether as a virtual currency
should not and cannot be circulated in the market as currency
The company's request to pay wages in virtual currency should not be supported
Shen asked for salary payment in the form of RMB
Bonuses and other compliance with legal provisions
are supported by the court
Virtual currency-related business activities are illegal financial activities and are strictly prohibited and resolutely banned in accordance with the law. There are legal risks involved in participating in virtual currency investment and trading activities. If any legal person, unincorporated organization and natural person invests in virtual currency and related derivatives, which violates public order and good customs, related civil legal actions shall be invalid, and the resulting losses shall be borne by the itself; it is suspected of undermining financial order. , endangering financial security, the relevant departments will investigate and deal with it in accordance with the law.
Therefore, it is recommended that investors and consumers should stay away from virtual currencies, avoid falling into the "virtual currency trap", and consciously protect the safety of funds. Citizens participating in financial activities should abide by the principle of good faith, uphold credit, abide by commitments, not violate the law, not violate public order and good customs, maintain a healthy economic order, and promote core socialist values .
Legal article link
"Law of the People's Republic of China on the People's Bank of China"
Article 16 stipulates that the legal currency of the People's Republic of China is RMB.
Article 5 of the "Interim Provisions on Wage Payment"
stipulates that wages shall be paid in legal currency and shall not be paid in kind or securities in lieu of currency.
"Notice on Further Preventing and Handling the Risks of Speculation in Virtual Currency Transactions"
stipulates that virtual currency does not have the same legal status as legal currency. Virtual currencies such as Bitcoin, Ethereum, Tether, etc. have the main characteristics of being issued by non-monetary authorities, using encryption technology and distributed accounts or similar technologies, and existing in digital form. They are not legal and should not and cannot be used as currencies in the market. Used in circulation.
Contributed by: Jinnan Court
