Henan Provincial Legal Committee: Ministry of Public Security is studying relevant systems of virtual currency involved in cases, local legislation should not be specified

According to reports, the Henan Provincial People's Congress recently released a report on the deliberation results of the 'Henan Province Regulations on the Management of Property Involved in Cases (Draft)', mentioning issues related to the disposal of virtual currency involved in cases. The Henan Provincial Legal Committee believes that virtual currency has property attributes and belongs to property involved in cases, which has basically formed a consensus in judicial practice. However, virtual currency transactions in China are completely prohibited, with no legal trading platforms, and how to dispose of virtual currency is still being explored in various regions. Currently, the Ministry of Public Security is studying the formulation of relevant systems for virtual currency, and it is more appropriate to uniformly regulate the management of this new type of property involved in cases at the national level. Local legislation should not make specific provisions on this matter. (Henan Daily)

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