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      Guangzhou Court Rules Virtual Currency Lending Agreement Invalid

      The Guangzhou Intermediate People's Court has ruled that a virtual currency lending agreement is invalid, following a case involving a man who lent one unit of virtual currency to a friend. The agreement stipulated that the virtual currency would be returned within two days, but the borrower failed to do so, prompting the lender to file a lawsuit.

      In the court proceedings, the plaintiff sought either the return of the virtual currency or compensation based on its market value. However, the court determined that the lending agreement was not legally enforceable, as virtual currency is classified as online virtual property. Despite this ruling, the court ordered the borrower to compensate the lender for property losses, ultimately awarding 199,600 yuan based on the original purchase price of the virtual currency.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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