Chinese Court Dismisses ‘Virtual US Dollar’ Investment Case, Underscores Risks of Overseas Crypto Investments

The Wuxi Intermediate People’s Court has dismissed a lawsuit concerning ‘virtual US dollars,’ where an investor lost nearly 84,350 yuan after a platform collapsed. This case highlights the legal risks associated with unregistered international crypto investments and emphasizes China’s stance against such ventures. 💰 Chinese law doesn’t protect investments made on overseas platforms without proper registration. The court highlighted that the investor’s decision to participate in an unregulated platform was independent and carries full responsibility for potential losses.