Posted on

Beijing court rules bitcoin mining contract ‘void’


As crypto investors widely know, China has declared all cryptocurrency transactions illegal and outlawed crypto mining activities. Lately, a court decision further reasserted the government’s attitude to stifle any bitcoin mining activity possible.
On December 15, the court of Beijing’s Chaoyang District heard a contract dispute over delayed returns from bitcoin mining and ruled that the service contract was “void”, according to a notice from the court.
The plaintiff took to the court after the defendant, a mining company it contracted, failed to pay it 278.1654976 Bitcoins, which is worth roughly $18 million as of December 15.
This marks the first time a Beijing court has declared bitcoin mining contracts null, the notice said. Following the ruling, the court urged relevant authorities in Sichuan, an energy-rich province where mining mentioned by the case took place, to “purge” any such remaining activity.

Read More