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Chinese Court Overturns 2019 Car Sale With Now Worthless Crypto Token

News Snapshot:

Last week, a WeChat post published by the Shanghai Fengxian Court started circulating in crypto circles regarding its recent ruling on a May 2019 car sale made using digital currencies. At the time, the buyer, identified only as Mr. Huang, signed a sales contract to purchase a 2019 Audi AL6 for CNY 409,800 ($59,477) in exchange for the consideration of 1,281 Unihash (UNIH) tokens at a non- disclosed car dealership in Shanghai. Under the original contract, the seller had to deliver the car to Huang within three months. According to the Shanghai Fengxian Court, Mr. Huang 1,281 UNIH on the…

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