Guangzhou court determines that overseas virtual currency "mining machine" sales contract is invalid
Source: PANews
Time: 2025-09-11 14:48:10
PANews reported on September 11 that according to Guangzhou Daily, the Guangzhou Intermediate People's Court ruled that a sales contract for a Chinese citizen to operate a virtual currency "mining machine" overseas is invalid. In the case, the two parties agreed to transport the "mining machine" to Mongolia for Bitcoin mining, but the court believed that the behavior involved financial security and ecological environment, was an illegal financial activity, disrupted China's financial order, applied Chinese laws in accordance with the law and determined that the contract was invalid. The verdict emphasizes that Chinese citizens are still subject to Chinese laws when they are involved in overseas virtual currency transactions.