A dispute arose over virtual currency trading, and the Hunan court dismissed the plaintiff buyer's lawsuit request

ChainCatcher news, according to Legal Network reports, the People's Court of Yuanjiang City, Hunan Province recently heard a dispute case arising from the buying and selling of virtual currency.

In this case, Zhou approached his friend Dai, hoping to help him purchase the encrypted virtual currency BZZ for investment. Consequently, Dai, entrusted by Zhou, purchased BZZ virtual currency from Zheng and sent the virtual currency to Zhou's imtoken wallet. However, after some time, Zhou sued Zheng in court, demanding the return of the funds he used to purchase BZZ virtual currency, amounting to 76,518 yuan, and payment for the funds' occupation fee.

After hearing the case, the court held that civil subjects engaging in civil activities must not violate legal provisions and must not go against public order and good customs. BZZ is a type of network virtual currency similar to Bitcoin, which does not have legal tender status and should not and cannot be circulated as currency in the market. Activities related to virtual currency are considered illegal financial activities, and citizens participating in virtual currency transactions must bear their own investment risks. The entrusted transactions, management, and related refund actions concerning BZZ among Zhou, Zheng, and Dai are currently not protected by law in our country, and the consequences of such actions should be borne by themselves. Zhou's request for Zheng to return the funds used to purchase BZZ virtual currency, amounting to 76,518 yuan, and to pay the funds' occupation fee lacks factual and legal basis, thus the court ultimately ruled to dismiss Zhou's lawsuit.