Chinese Court Rules Unpaid Crypto Loans Can Be Repaid Based on What the Lender Originally Paid

BitcoinWorld Chinese Court Rules Unpaid Crypto Loans Can Be Repaid Based on What the Lender Originally Paid A mid level court in Guangzhou, China has made an interesting ruling on what happens when someone borrows cryptocurrency and does not pay it back.

According to a report from Guangzhou Daily on 3 September, the court decided that in these situations, the amount owed should be based on what the lender originally paid to buy the coin, not what the coin is worth in the market later on.

The ruling came from the Guangzhou Intermediate People’s Court, and the Guangdong High People’s Court later shared this case as having reference value for other similar disputes going forward.

  What actually happened Back in July 2023, a lender identified only as Jin sent one unit of an unnamed cryptocurrency to a borrower identified as Chang. Chang signed a written agreement promising to return that same coin two days later, by 3 July.