Beijing explores a mechanism for disposing of virtual money involved in cases, entrusting the Beijing Stock Exchange and selling through a licensed exchange in Hong Kong.

According to Deep Tide TechFlow news on August 3rd, as reported by China Economic Net, since the strict prohibition of virtual currency trading in our country in 2021, how to handle the involved virtual money has become a major challenge. The Beijing Municipal Public Security Bureau's Legal Affairs Division has collaborated with the Beijing Property Exchange to establish a mechanism for the disposal of involved virtual money. The main process is as follows: The public security organs entrust the involved virtual money in kind to the Beijing Property Exchange for disposal. The Beijing Property Exchange selects professional service agencies to carry out operations such as testing, receiving, and transferring the involved virtual money, and publicly liquidates and sells it through a licensed exchange in Hong Kong in compliance with regulations, with the exchange settlement transferred to a special account for involved funds of the public security organs, which will subsequently be confiscated and turned over to the national treasury or returned to the victims in accordance with the law.

According to the process design, the multi-department collaboration established by the protocol can ensure the orderly completion of the transfer, inquiry, trading, Exchange Settlement, and accounting of Virtual Money. After multiple verifications, all preparations have been completed. On March 29, the Legal Affairs General Team guided the Shunyi Branch to sign the "Virtual Money Disposal Business Agreement" with the Beijing Stock Exchange.