China set up to give a crypto legal recognition? Disposal of seized assets for the movement of the economic slowdown of sparks

• Chinese officials argue for regulations on cryptocurlent resources to deal with seized funds.

• Despite the ban on trading, Chinese local self-government reportedly sold the seized creptovia property through private companies.

• While on continental China still supports its cryptocurrency ban, Hong Kong pushes to become cryptocurrency hubs.

Once the leading cryptocurrency of trading and mining node, China has long since transferred its domination in the US after a series of subpressive regulatory measures, including A blanket ban in 2021. Years.

Now, almost four years later, the Asian economic giant can consider the potential softening of his coupling curing treatment, but not because of the reasons that many are foreseen.

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According to Reuters reportChinese law enforcement officers, lawyers and participants in the financial industry are pushed for a judicial recognition of cryptocurri as well as means in a potential significant shift for the country’s cryptocurancing industry.

Calls come as the country see a spike in criminal cases of criminal cases of criminal cases. The lack of clear rules on how to deal with these seizures increases corruption concerns.

So far, Chinese local self-government sells these seized cryptocurbs for cash via private companies so that consignments could be performed due to economic slowdown. In particular, property is sold for US dollars in foreign markets and has been turned into Yuan banks before they are transferred to local government accounts that have public funds.

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Using this method, local technology company, Jiafenkiag, sold over 3 billion Yuan, or about $ 41 million, the value of cryptocurnancy in the name of three local governments, Ksuzhou, Hua’an and Taizhou, since 2018. Years.

But most officials claim that the current methods are inconsistent and opaque, with at least one professional who claim that sales go against the country ban on the CRIPTO TRADING. In January seminar On this issue, officials reportedly suggested everything to establish clear guidelines to strategic reserves Like Trump AdministrationAll that could be a boon for the industry by paving the road for greater adoption.