TechFlow news, on August 17, the Henan Provincial People's Congress released a report on the review results of the "Draft Regulations on the Management of Case-Related Property in Henan Province," specifically addressing issues concerning the handling of virtual currencies involved in cases. This report sends a policy signal indicating that Henan Province considers it inappropriate for local authorities to establish their own legislative regulations regarding the disposal of seized virtual currencies during investigations. In the report, the Legislative Affairs Committee of Henan Province stated that it is generally agreed in judicial practice that virtual currencies possess property attributes and fall within the scope of case-related property. However, since China comprehensively prohibits virtual currency transactions and there are no legal trading platforms, how to handle such virtual currencies remains under exploration across regions. Currently, the Ministry of Public Security is studying and formulating relevant systems for virtual currencies, and management of this new type of case-related property should be uniformly regulated at the national level, making it unsuitable for local legislation to make provisions.
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