TREE NEWS update: A Chinese court ruled that a virtual currency loan contract is invalid, and the borrower must compensate the lender based on the original cost of the coins. In July 2023, Chang borrowed one virtual coin from Jin, who bought 1.14 coins for 228,200 yuan. The court found the repayment clause giving the lender price appreciation benefits invalid, and ordered compensation of 199,600 yuan per coin.
Guangzhou court rules crypto lending contract void
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