Best Crypto to Buy Now as China Weighs What to Do With Seized Bitcoin
There has been a surge in criminal activities involving crypto in China, resulting in a growing stash of seized digital assets by the government. This has prompted local authorities to explore ways to dispose of the hoard, leading courts and the financial sector to push for clearer regulations.
Reuters noted that lawyers believe the complete lack of crypto laws—due to the ban on digital asset trading in mainland China—has resulted in opaque and inconsistent handling of seized assets.
This lack of transparency has fueled corruption and emboldened lawbreakers, the lawyers added.
It has created a unique scenario in the current ecosystem, where market volatility remains high. A major sell-off by the Chinese government could…
