The Zhejiang Jingde Court ruled that the contract for the sale of virtual currency mining machines is invalid and ordered the defendant to return the payment

ChainCatcher news, according to The Paper, the Jingde Court in Zhejiang recently concluded a contract dispute case regarding the sale of virtual currency mining machines. In April 2021, the plaintiff, Mr. Hang, purchased a "mining machine" platform and 64 hard drives from the defendant, Mr. Chen, for a total value of 429,000 yuan. After paying the full amount, Mr. Chen failed to deliver the equipment as agreed and only refunded 180,000 yuan.

The court cited the National Development and Reform Commission's "Notice on Rectifying Virtual Currency 'Mining' Activities" issued in September 2021, as well as the central bank and other departments' "Notice on Further Preventing and Handling Risks of Virtual Currency Trading Speculation," determining that activities related to virtual currency are illegal financial activities. The court ruled that the contract for the sale of the mining machines was invalid due to violation of public order and good customs, and ordered the defendant to return the remaining 249,000 yuan.

The second-instance court upheld the original ruling, stating that the relevant contract not only violated public order and good customs but also did not conform to the basic principles of resource conservation and environmental protection.