CoinVoice has recently learned that the Laiwu District People's Court of Jinan City's official account announced the 167th typical case of the application of the Shandong Court Civil Code, the determination of the legal attributes of digital collections and the effectiveness of their transactions (the case of Yang Moumou v. a cultural and creative company on a sales contract dispute). The summary of the judgment pointed out that digital collections are a kind of online virtual property. There is currently no law in my country that explicitly prohibits the issuance and trading of digital collections. For digital collection transactions between civil subjects, as long as the actors have the corresponding civil capacity and their intentions are genuine, they should be deemed legal and valid.
Digital collections have the dual attributes of collection and investment, and contain high market risks. Buyers who aim to earn the difference in the secondary market transaction of digital collections should not be identified as consumers under the (Consumer Rights Protection Law) and should bear the corresponding market price fluctuation risks. [Original link]
