The People's Court of Tongzhou District, Nantong City, Jiangsu Province, heard a case of converting virtual currency investment funds into loans, and rejected the plaintiff Han's request for repayment. Han and Ji were friends, and Ji suggested that Han invest in TEDA coins, claiming that he could earn high returns. Han purchased 2,000 TEDA coins through the platform, and Ji hosted it on his behalf. However, Ji did not fulfill his promise, and Han called the police and reached an agreement with Ji to convert the virtual currency trading relationship into a loan relationship. Ji issued an IOU promising to repay, but failed to repay, and Han sued. The court held that TEDA was not legal tender, did not have legal compensation, and could not be used as the basis for loan delivery, so the loan agreement was invalid. Even if the two parties had converted the virtual currency transaction into a loan relationship, the court held that the virtual currency investment behavior was not protected by law, and the loss should be borne by Han. In the end, the court ruled to reject Han's lawsuit.