Tengchong Court ruled that a Bitcoin "mining" contract dispute case was invalid

Odaily星球日报 · 2023-03-28T03:55:00.000Z

Odaily Planet Daily News Recently, the Tengchong Court concluded Tengchong’s first Bitcoin “mining” contract dispute case. The court ruled that the contract was invalid and rejected the plaintiff’s request to pay a huge investment amount. After trial, the court held that civil subjects must not violate the law or violate the principles of public order and good customs when engaging in civil activities. In this case, the plaintiff and the defendant used the excuse of signing the "Blockchain Server Cooperation Agreement" to conduct Bitcoin "mining" activities. Bitcoin "mining" is based on high energy consumption, and their behavior is in line with the high economic and social standards of our country. Quality development is contrary to the goals of carbon peaking and carbon neutrality, and is contrary to public interests. Judging from the high energy consumption of "mining" behavior and the impact of Bitcoin trading activities on the national financial order and social order, the contract involved in the case should be invalid. As civil subjects, both the plaintiff and the defendant should abide by legal provisions when engaging in civil activities and must not violate the principles of public order and good customs. Otherwise, the corresponding losses arising therefrom will not be protected by law, and the adverse consequences shall be borne by the parties themselves. In the end, the court determined that the contract between the two parties was invalid and dismissed the plaintiff Liao's claim.

Odaily Planet Daily News Recently, Tengchong Court concluded the first Bitcoin "mining" contract dispute case in Tengchong. The court ruled that the contract was invalid and rejected the plaintiff's request for payment of huge investment funds. After trial, the court held that civil subjects should not violate the law or the principle of public order and good morals when engaging in civil activities. In this case, the plaintiff and the defendant used the signing of the "Blockchain Server Cooperation Agreement" as an excuse to actually engage in Bitcoin "mining" activities. Bitcoin "mining" is based on high energy consumption. Its behavior is contrary to my country's high-quality economic and social development and carbon peak and carbon neutrality goals, and is contrary to the public interest. From the perspective of the high energy consumption of "mining" behavior and the impact of Bitcoin trading activities on the national financial order and social order, the contract involved in the case should be invalid. As civil subjects, the plaintiff and the defendant should abide by the law when engaging in civil activities and should not violate the principle of public order and good morals. Otherwise, the corresponding losses arising therefrom will not be protected by law, and the adverse consequences should be borne by the parties themselves. In the end, the court determined that the contract between the two parties was invalid and rejected the plaintiff Liao's lawsuit.