Jiangsu High Court: Overseas virtual currency investment is not protected by our country's laws

PANews reported on February 12 that according to the official account of the Jiangsu High Court, the Jiangsu High Court released typical cases of foreign-related commercial trials, pointing out that overseas virtual currency investment is not protected by my country's laws. In related cases, Singaporean citizen Pan and Chinese citizen Tian signed a cooperation agreement with non-parties to jointly operate the "MFA blockchain" project. Pan transferred 15.74 million yuan to Tian to purchase MFA virtual currency. However, afterwards, the virtual account involved in the case was locked and the principal could not be traded was completely lost, and Pan filed a lawsuit with the court.

The Jiangsu High Court held in the second instance that Pan Moumou is a Singaporean citizen and this case has foreign factors. According to the application of laws and regulations of our country, if it involves my country's financial security and social public interests, the mandatory provisions of our country's laws and regulations should be directly applied, which are prohibited by my country's laws and regulations. Virtual currency investment. In this case, the parties signed a contract to speculate overseas virtual currencies, which violated the mandatory provisions in the field of financial supervision in my country. The investment losses claimed by the parties shall not be protected according to law, and the losses caused by this shall be borne by the parties themselves.