TechFlow news: The People's Court Daily published an article titled "Virtual Currency Judicial Disposal Must Be Standardized," stating that standardizing the judicial disposal of virtual currency is crucial for maintaining financial stability and promoting healthy market development. According to statistics from SAFEIS Security Research Institute, in 2023 China cracked down on a total of 428 cases involving virtual currency-related crimes, an 88.9% decrease compared to 2022. However, the value involved surged to 430.719 billion RMB, approximately 12.36 times that of 2022.
The article emphasizes that current virtual currency disposal faces multiple challenges, including ownership determination, value assessment, and legal liquidation. To address these issues, it recommends promptly issuing comprehensive judicial guidelines for virtual currency disposal, clarifying its legal status, compliance requirements, asset disposal procedures, and legal liabilities.
Meanwhile, the article calls for strengthened international cooperation to jointly address the global challenges posed by virtual currency and to lay a legal foundation for the development of digital economy and digital finance.
