Shandong High Court: Investing in or trading virtual currencies is not protected by law

The Shandong Provincial High People's Court's official WeChat account released the 27th typical case of the application of the Civil Code, which analyzed a case related to the Welland International encrypted digital currency project. The Shandong High Court believes that online virtual currency is not issued by a currency issuing authority, does not have currency attributes such as legal compensation and compulsion, is not a real currency, does not have the same legal status as currency, cannot and should not be circulated and used as currency in the market, and citizens' investment and trading in virtual currency are not protected by law.