TechFlow news, on November 21, the Guidong County People's Court recently concluded a contract dispute case involving cryptocurrency "mining." The plaintiff Hu participated in cryptocurrency "mining" activities with others and invested over 550,000 yuan to purchase equipment. Later, he sued for the return of 570,000 yuan after losing the equipment. Based on the "Notice on Further Preventing and Dealing with the Risks of Cryptocurrency Trading Speculation" issued by the central bank and nine other departments, the court ruled that cryptocurrency-related businesses constitute illegal financial activities, and related contracts violate public order and good customs, rendering them invalid. Meanwhile, the plaintiff failed to provide sufficient evidence proving actual losses. Ultimately, the court rejected all claims, ruling that investors must bear their own losses. The judge reminded the public to stay away from cryptocurrency trading and choose legal investment channels to safeguard property security.
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