[Hunan Province Court in China Rules Cryptocurrency Mining Contract Invalid, Losses to Be Borne by Participants]
Recently, the People's Court of Guiyang County, Hunan Province, China, concluded a dispute case involving a cryptocurrency mining contract. The plaintiff, Hu Mou, collaborated with others to engage in cryptocurrency mining activities and filed a lawsuit over lost equipment, demanding the return of 570,000 yuan in investment funds. The court ruled to dismiss all of Hu Mou's claims. Based on the 'Notice on Further Preventing and Handling the Risks of Virtual Currency Trading and Speculation,' the court determined that cryptocurrency-related activities constitute illegal financial activities, rendering the related civil legal acts invalid, with losses to be borne by the participants themselves.