A court in Beijing has ruled that three investment agreements for bitcoin mining operations in Sichuan are “invalid.” A compensation claim has been rejected in the case, viewed as an indication that the Chinese judiciary would not provide protection for crypto-related interests. Beijing Court Invalidates Bitcoin Mining Contracts The Chaoyang District People’s Court in the Chinese capital has recently rejected a lawsuit seeking damages from a crypto company. It was filed by one of its clients who failed to make a return on his investments in bitcoin mining, the Hong Kong daily South China Morning Post reported, quoting state-run media in the mainland. Beijing Phonf Marketing Technology, the plaintiff, entered into three agreements with Zyzc Blockchain Technology in May 2019 for the deployment of mining hardware in Sichuan, paying 10 million yuan ($1.6 million) for the job. At the time, the central government was still tolerant of crypto mining, while some local authorities, includin
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