Is it feasible to repay with virtual currency?

Real money is lent out, but what is returned is a string of virtual numbers

The defendants, Wang and Zhang, are a married couple. In July 2020, Wang borrowed 10,000 yuan from the plaintiff, Zhou, claiming a need for funds. Zhang was unaware and did not subsequently acknowledge it.

In May 2022, Wang and Zhang jointly borrowed 50,000 yuan from Zhou. In the same year, Zhang repaid 40,000 yuan to Zhou, while Wang used a financial platform to repay the remaining 20,000 yuan with virtual currency. Wang believed the loan was repaid, but Zhou did not agree, hence the case was brought to court.

Additionally, it was found that the financial platform operated by Wang is the 'TR Foreign Currency Platform', which has been recognized by public security authorities as suspected of engaging in virtual currency network pyramid schemes and has since been closed. Both the plaintiff and the defendant have invested in the 'TR Foreign Currency Platform'.

Court: Compensation invalid, repayment must continue. According to the 'Notice on Further Preventing and Handling Risks of Speculation in Virtual Currency Transactions' jointly issued by ten departments including the People's Bank of China and the Supreme People's Court on September 15, 2021, virtual currency does not have the same legal status as legal currency, does not have legal compensability, and should not and cannot be used as currency in the market. Wang's act of using virtual currency to repay debts is considered illegal virtual currency trading prohibited by regulatory authorities and should be deemed invalid. Wang still needs to fulfill the repayment obligation.

Regarding Wang's 2020 loan of 10,000 yuan, the plaintiff did not provide evidence that the funds were used for the common life of the defendant couple or based on a mutual agreement, and it should not be recognized as joint debt; Zhang does not bear repayment responsibility. For the 2022 loan of 50,000 yuan, which occurred during the marriage of the two defendants, Zhang was present at the time of borrowing and fulfilled the repayment obligation, thus it can be recognized as joint debt, and Zhang bears joint repayment responsibility.

In summary, Xiangyin Court ruled that Wang must repay the principal of 10,000 yuan and interest, and that Wang and Zhang must jointly repay the principal of 10,000 yuan and interest. After the judgment, both parties accepted the ruling and the case has now become effective. #内容挖矿 $SOL Follow me! Get more information about the cryptocurrency world!