Virtual Currency-Based Sale Agreement an Invalid Contract, Chinese Court Rules - Regulation Bitcoin News

[Crypto currency] Virtual Currency-Based Sale Agreement an Invalid Contract, Chinese Court Rules - Regulation Bitcoin News A virtual currency cannot be circulated in the market as a currency, therefore a vehicle sale contract wherein parties agreed that the buyer would pay with a privately issued digital currency is invalid, a Chinese court has ruled. The court asserts that a virtual currency does not have the same legal status as national fiat currency. Not Protected by Law A Chinese court has ruled that a vehicle sale contract, in which the parties agreed that the buyer would pay via a virtual currency,…