People's Court News: Virtual currency has corresponding property attributes. If compensation is involved, you can explore exchanging fiat currency through a compliance licensed trading platform

The People's Court Newspaper published an article signed by Zhao Liang of the Intermediate People's Court of Shenzhen, Guangdong Province, entitled "Disposal of Virtual Currency Involved in Criminal Cases: Challenges, Innovation and Judicial Responsibility", which pointed out that virtual currency has corresponding property attributes and has basically formed a consensus in judicial practice. If it is necessary to refund the victim's losses or confiscate them, in order to balance the demand for the virtual currency involved in the case and the mainland's regulatory policies, it is possible to explore under the filing and supervision of the People's Bank of China, foreign exchange administration and other departments, and entrust a qualified third-party institution to exchange the virtual currency into legal tender at the market price through a compliance licensed trading platform. After being liquidated overseas, refer to the provisions of the State Administration of Foreign Exchange's "Letter on Issues Concerning the Opening of Foreign Exchange Accounts by People's Courts in Foreign-related Judicial Activities and the Handling of Foreign Exchange Income and Expenditure". Virtual currencies that have been used in crimes and endanger national security and public interests, such as privacy coins, can be sent to "black hole addresses", destroyed, and permanently withdrawn from circulation.