On September 16, according to Legal Daily, the Yuanjiang City People's Court in Hunan Province recently heard a dispute case arising from the buying and selling of virtual currency.

In this case, Zhou found his friend Dai and asked him to buy BZZ virtual currency (a type of encrypted virtual currency) for investment. Therefore, Dai was entrusted by Zhou to buy BZZ virtual currency from Zheng and "sent" the virtual currency to Zhou's imtoken wallet. However, after a period of time, Zhou sued Zheng in court, demanding the return of the 76,518 yuan he had paid to buy BZZ virtual currency and the payment of interest on the funds.

The court held that civil entities engaging in civil activities must not violate legal regulations or public order and good customs. BZZ coins are a type of network virtual currency similar to Bitcoin, they do not have legal tender status, and they should not and cannot be used as currency in the market. Virtual currency-related businesses constitute illegal financial activities, and citizens participating in virtual currency transactions must bear the investment risks themselves.

The entrusted transactions, management, and derivative refunds related to BZZ coins between Zhou, Zheng, and Dai are currently not protected by law in China. They should bear the consequences of their own actions. Zhou's claim that Zheng return the 76,518 yuan paid to buy BZZ virtual currency and pay interest on the funds has no factual or legal basis, so the court ultimately ruled to dismiss Zhou's claim. After Zhou appealed the judgment, the second-instance court upheld the original judgment.