China's Supreme Court has released its draft Financial Litigation Requests for cases involving cryptocurrencies.
China Supreme Court Speaks About Bitcoin, Ethereum, USDT and Other Cryptocurrencies
The requests mainly focus on disputes arising from Bitcoin, Ethereum, USDT and other cryptocurrencies and aim to prevent and control the risks of speculation in virtual currency trading.
At the meeting, it was stated that the trading activities of Bitcoin, Ethereum, USDT and other virtual currencies seriously disrupted the economic and financial order and seriously endangered the public's property security.
In this context, "claims" refer to guidelines or instructions given by the Supreme Court of China to lower courts to handle disputes regarding virtual currencies, specifically Bitcoin, Ethereum, USDT and other cryptocurrencies.
In considering disputes related to virtual currencies, the court will examine the regulations of national financial and industrial regulations as well as other public policies from different periods to determine the validity of legal actions regarding virtual currencies by the parties.
*Not investment advice.