Jinan judge: The act and agreement of purchasing virtual currency are not protected by law

Wu said blockchain learned that according to the official account of Jinan Licheng Court: Ma Moumou entrusted Liu Moumou, Chang Moumou, and Li Moumou to help him register a Wellecoin account and purchase Wellecoin. After the registration was successful, the three informed Ma Moumou of the account number and password, and Ma Moumou logged in to use the account. This court believes that the above behavior constitutes the delivery of "entrustment behavior" in the sense of civil law, and the two parties have formed an entrustment contract relationship. Ma Moumou and Liu Moumou, Chang Moumou, and Li Moumou signed the "Agreement" due to the entrustment contract relationship. Although the agreement is the true intention of all parties, Ma Moumou's entrustment of Liu Moumou, Chang Mou, and Li Moumou to help him purchase Wellecoin is not protected by law in my country, and the "Agreement" signed by the four people due to the entrustment contract relationship is also not protected by Chinese law. The consequences of Ma Moumou's purchase of Wellecoin should be borne by himself. Therefore, the court does not support Ma Moumou's lawsuit request. The judgment dismissed Ma Moumou's lawsuit request. Ma Moumou appealed. After trial, the Jinan Intermediate People's Court held that Ma Moumou should bear the risks caused by the inability to open the Welle digital currency account and the inability to circulate and use it. Therefore, the judgment dismissed the appeal and upheld the original judgment.
The presiding judge said that from the perspective of regulatory policies, my country has always strictly prohibited the issuance, financing, trading and speculation of virtual tokens. The act of purchasing virtual currency is not protected by law in my country, and the relevant agreements signed therefrom are also not protected by law.