Chinese Court Rules That Crypto ‘Not Protected By Law’

A crypto-related court case in China resulted in a ruling that cryptocurrencies are “not protected by law”.

This week, Chinese courts faced a plaintiff who invested over $10 thousand dollars in digital currencies, endorsed by his friends. However, due to the continuous crackdown on crypto imposed from the Chinese government, the accounts shut down.

The high court in the northern Shandong province made a public comment on the case and said, “cryptocurrency is not protected by law.” The court blanketed the case unworkable simply due to its dealing with crypto. Therefore, such a statement, which provides no help for the crypto industry seeking justice, potentially sets a precedent for courts throughout China.