TechFlow News: On March 18, according to The Paper, the Zhangqiu District People’s Court adjudicated a dispute over a virtual currency investment entrustment agreement. In this case, Liu Mou entrusted Zhang Mou to purchase Alpha Coin; however, as the platform involved was suspected of criminal activity, refunds could not be processed. Liu Mou subsequently sued Zhang Mou, demanding the return of the investment funds. The court ruled that virtual currency investment activities undermine financial order and that the related entrustment contract is invalid; therefore, investment losses are not protected under law, and Liu Mou’s claim was dismissed. The presiding judge noted that, per regulations issued by the People’s Bank of China and other relevant departments, virtual currency-related business activities constitute illegal financial activities, and any resulting losses must be borne solely by investors. The public is urged to stay away from virtual currency trading and speculation.
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