A Jinan court rejected an investor’s claim over Alfa Coin losses, holding the crypto entrustment contract invalid and ruling that losses from illegal financial activity must be borne by the investor.
A court in Jinan, Shandong, rejected an investor’s attempt to recover losses from an Alfa Coin investment, ruling that the crypto investment entrustment contract was invalid. The court said the losses stemmed from illegal financial activity and therefore had to be borne by the investor. The update reinforces the earlier reported judicial stance in Shandong that courts will not enforce claims tied to virtual currency investment arrangements treated as illegal under China’s regulatory framework.