Guangzhou Court Rules Virtual Currency Loan Invalid, Compensation of 199,600 Yuan

A man in Guangzhou lent 1 virtual currency to a friend, agreeing to have it returned two days later. After the friend failed to return it on time, the man filed a lawsuit, requesting either the return of the virtual currency or compensation based on market price. The Guangzhou Intermediate People's Court ruled that the loan agreement for the virtual currency was invalid and did not support the return of the virtual currency or compensation based on market price. The court ordered the borrower to compensate the lender for property losses, ultimately awarding 199,600 Yuan based on the lender's purchase cost of the virtual currency.

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