Chinese police: The Virtual Money involved in the case is now being sold through the Hong Kong exchange to be turned over to the national treasury.

The Beijing Municipal Public Security Bureau launched the "New Mechanism for Virtual Currencies Involved in Cases", whereby virtual currencies confiscated in crimes can be sold for cash through the Hong Kong Compliance Exchange and turned over to the state treasury. (Synopsis: China's official think tank rarely names Bitcoin: with strategic reserve potential, BTC second largest country will make a statement? (Background added: Michael Burry liquidated his holdings this season!) Why turn to short Nvidia and Chinese tech stocks? The Beijing Municipal Public Security Bureau recently announced a cooperation with the Beijing Equity Exchange to solve the problem of monetization of virtual assets seized by the police in China, and now sells recovered, seized and confiscated digital assets through a compliant exchange in Hong Kong and turns them over to the state treasury. A New Model for the Disposal of Virtual Assets Involved in Cases in China Previously, Chinese law enforcement agencies faced two major difficulties in the disposal of virtual assets involved in the case: "unable to be directly realized in China" and "cross-border disposal is high-risk or has no legal source", which affected the effectiveness of the recovery of law-related assets. The Legislative Affairs Corps of the Beijing Municipal Public Security Bureau announced today that it signed the "Cooperation Framework Agreement on the Disposal of Virtual Currency Involved in the Case" with the Beijing Equity Exchange (hereinafter referred to as the Beijing Stock Exchange), which will include the virtual currency involved in the case in the "physical surrender". The process is: The public security organ entrusts the virtual currency involved in the case to the Beijing Stock Exchange The professional service institution selected by the Beijing Stock Exchange conducts technical testing, receipt and transfer Then publicly realized through a compliant licensed exchange in Hong Kong, and the funds obtained are transferred to the special account of the public security organ for the funds involved in the case after being approved and settled by the national foreign exchange administration. Finally handed over to the Chinese treasury It is reported that this model has been successfully applied to a case of the Shunyi Public Security Sub-Bureau, proving that the mechanism is feasible. Related reports China's official think tank rarely names Bitcoin: with strategic reserve potential, the second largest country with BTC holdings will make a statement? Trump bombards China's default and intends to sanction Chinese subsidiaries! Bitcoin falls below 104,000 magnesium, semiconductors fall heavily Former Fed consultant was arrested by the FBI for leaking secrets to China, taught at Fudan University, married a Shanghai woman, handed over tariff secrets. "Chinese police: The virtual currency involved in the case is now sold through the Hong Kong Stock Exchange and handed over to the treasury" This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".