China’s risky Bitcoin court decision, is Huobi in trouble or not? Asia Express

Cointelegraph

Published Aug 07, 2023 06:35PM ET

Updated Aug 07, 2023 07:00PM ET

Our weekly roundup of news from East Asia curates the industrys most important developments.

A man in China’s Jiangsu province, identified as Mr. Xu, appears to be out of luck after a court ruled that his 341 Bitcoin loan ($9.9 million) to counterparty Mr. Lin is not protected by law according to local news reports on August 3.

Chinese magistrate Ming Wang explains why the Bitcoin lending contract was invalid and therefore denied relief for breach of contract. (Screenshot)
A man alleged to be Multichain co-founder and CEO Zhao Jun (Telegram)
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