China debates $50B in seized crypto policy shift, urged to create national reserve
China is considering introducing a nationwide policy to govern the handling of cryptocurrencies seized from criminal activities, Reuters reported on April 16.
According to the report, Chinese authorities have seized a growing number of digital assets related to illicit activities such as fraud and money laundering.
However, the absence of clear guidelines has led to varying disposal practices across regions.
This inconsistency has sparked concerns about potential misuse and corruption, prompting debates over the need for standardized regulations.
Chinese local governments are divesting crypto
China currently does not recognize cryptocurrencies as legal tender. Instead, they are treated as property.
This legal status has allowed local regions…
