BTCC
/
BTCC Square
/
Global Cryptocurrency
/
Legal Vacuum: Chinese Provinces’ Agony Over Seized Crypto Disposal
Legal Vacuum: Chinese Provinces’ Agony Over Seized Crypto Disposal
15
1
BTCCSquare news:
Henan Province, home to nearly 100 million residents, faces a regulatory conundrum over seized cryptocurrencies. Local authorities acknowledge VIRTUAL currencies as property assets but cite China’s blanket crypto ban as a barrier to disposal. With no legal trading platforms, the province defers to national leadership, urging the Ministry of Public Security to establish uniform rules.
The complexity of managing digital assets—from custody to liquidation—has stalled progress. Henan’s legal committee emphasizes central oversight to avoid policy fragmentation, particularly on matters of financial security. The standoff highlights the collateral damage of China’s hardline stance, leaving billions in crypto assets in limbo.
By:
