A Chinese court ruled that using virtual currency to repay loans is not legal, as it does not have the same status as legal currency. The case involved a debtor using virtual currency from a platform suspected of being a pyramid scheme, but the court determined that this violated financial management regulations.
The court stated that any legal person, organization, or individual investing in virtual currency or related derivatives that violate public order and good customs will not have relevant civil legal actions, and any resulting losses must be borne by themselves. The final judgment was that the debtor must fulfill their repayment obligations in legal currency.
Source
<p>The post Virtual Currency Not Legally Acceptable for Debt Repayment first appeared on CoinBuzzFeed.</p>
