News on February 21, according to Mankiw: Recently, the Jiangsu Province High Court released a typical foreign-related case. In the case, a Singapore investor cooperated with China citizens to invest in cryptocurrency. The court ruled that "the contract was invalid and the risks were borne by themselves," and the Singapore investors lost their millions of principal. China's court directly ruled that the contract was invalid on the grounds that virtual currency investment in China was illegal financial activity and violated public order and good customs.