Shanghai Xuhui Court Judgment: Bitcoin entrusted financial management contract is valid, and both parties can repay legal currency if willing

Odaily Planet Daily News Lawyer Liu Yang from Beijing Deheng Law Firm issued an article saying that on the morning of October 9, a Bitcoin entrusted financial management dispute was heard in the People's Court of Xuhui District, Shanghai, and the case was settled through mediation. The summary of the case is as follows: The plaintiff entrusted the defendant with financial management, and the defendant promised to maintain the principal and pay interest, but was later unable to honor the payment. The defendant did not object to the above facts, and the two parties later voluntarily reached a mediation agreement. The court issued a mediation letter. The main contents of the mediation letter were: 1. Repay US dollars in installments. 2. If any payment is overdue, all payments may be enforced. Lawyer Liu Yang believes that mediation in this case has two important meanings: First, since the case can be concluded through mediation, it means that the court believes that the Bitcoin entrusted financial management agreement is valid. If it is invalid, the court has no power to mediate. Second, the financial management entrusted in this case is Bitcoin, and the repayment method confirmed in the mediation letter is U.S. dollars (legal currency). This also shows that if both parties agree on the content of the mediation, the court can confirm that the subject matter of a civil dispute involving virtual digital currency will be repaid in legal currency. , this does not mean that the court has recognized the exchange between virtual digital currency and legal currency, but only respects the voluntary principle of mediation without violating laws and regulations, and is more conducive to the next step of execution. Therefore, in currency-related cases, it is feasible to claim that one party repays legal currency.