Don't put money into virtual currencies such as Bitcoin or Tether (泰达币), and don't follow when others pull you in: such trades are not protected by law, and a lawsuit won't get your money back if you lose
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In plain words
China does not recognize virtual currency as money, and a personal trade to buy coins can be ruled invalid, so a loss is yours alone. One person bought Tether from another and paid about 448,000 (44.8万) CNY, then the platform could not process withdrawals, and the lawsuit to get the money back was dismissed by the court. Having coins stolen is a different matter, and the thief is still convicted of theft.
Mentioned in
Translated from the Chinese original. Original book, section 5, tip 45. This section is about money and spending. It is general information, not financial or investment advice. Content may be out of date and rules differ by place. When you actually deal with an agency, a doctor or a court, follow what local officials, doctors and lawyers tell you. Disclaimer