Local Chinese governments reportedly consider how they can get rid of their fast -growing stock of seized crypto assets.
According to a new report Reuters debate local authorities in China about how they can be thrown away efficiently about digital assets confiscated by illegal transactions.
Lawyers who are familiar with the case told Reuters that the lack of rules about what authorities should do with seized crypto assets of uncertainty. However, lawyers, judges and police think of ways to deal with seized cryptocurrencies.
Reuters says that it has looked at transaction documents that show that local authorities use external companies to sell the confiscated digital assets for cash to “fill off a public treasury”.
However, Chen Shi, a professor at the Zhongnan University of Economics and Law, says that the current method of the government “is an improvised solution that is strictly not entirely in line with the current ban on Crypto -trade.”
Guo Zhihao, a senior partner at the Beijing Yingke law firm who attended a seminar to discuss this topic in January, said Reuters that authorities selling the digital assets are directly contrary to the ban on the action of Crypto activa.
According to Guo, the Central Bank of China is better equipped to handle digital assets, because it could sell them abroad and/or set up a strategic reserve with them.
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