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China’s Crypto Ban Leads to Tons of Court Disputes and Legal Uncertainty

Thu, 16/08/2018 - 16:27
China’s crackdown on cryptocurrencies took its toll on the country legal system as a large number of crypto-related disputes overwhelms Chinese courts
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China’s Crypto Ban Leads to Tons of Court Disputes and Legal Uncertainty
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China’s crackdown on cryptocurrencies took its toll on the country legal system as a large number of crypto-related disputes overwhelms Chinese courts. A local media outlet reports that there are already 274 court cases. They mostly cover criminal and civil matters along with administrative ones (two pending cases).

The country’s hawkish stance towards crypto complicates court rulings, since many of them involve digital assets that are currently trapped in a legal grey zone. In a most recent case between a local exchange and its client, Chinese courts only discussed a breach of contract complaint, not touching upon the legality of crypto trading.

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