The Beijing seminar discusses the legal and regulatory challenges of virtual currency disposal.
On January 19, 2025, a seminar on "Disposal of Involved Virtual Currencies" was held in Beijing, organized by the Law School of Renmin University of China and other institutions, attracting nearly 60 experts from the legislative, judicial, and business sectors. The conference delved into the legal attributes, regulatory policies, and judicial practices of virtual currencies. The main discussion points included:
1. Legal Attributes and Regulation of Virtual Currencies: Liu Xiaoyu from Zhongyin Law Firm pointed out that there are various viewpoints regarding the legal attributes of virtual currencies, such as the "virtual property theory" and the "digital goods theory." He suggested moderate policy adjustments based on risk prevention to enhance China's participation capability in the global Web 3.0 competition.
2. Challenges in Judicial Practice: Attending experts generally agreed that the decentralized and transnational characteristics of virtual currencies complicate judicial disposal, such as issues of classification, evidence collection, and custody. Guo Shuo from China University of Political Science and Law indicated that the nature and disposal rules of virtual currencies should be clarified at the legislative level, strengthening the participatory rights of victims and the standardization of disposal procedures.
3. International Perspective and Regulatory Coordination: He Ting from Beijing Normal University mentioned that the regulation of virtual currencies needs to focus on the coordination between criminal justice and administrative management, preventing new types of illegal crime risks, and addressing the issue of asset recovery through cross-border cooperation.
4. Integration of Technology and Law: Nie Youlun from East China Normal University emphasized the need to utilize blockchain tracking technology and advanced investigative methods to improve the evidence chain, while optimizing legal interpretations to address practical challenges.
The conference unanimously agreed that China needs to accelerate the legislation related to virtual currencies, clarify their property attributes and regulatory boundaries, strengthen international cooperation and technological application, and provide legal guarantees for the disposal of involved virtual currencies. Additionally, it was suggested to establish dynamic regulatory policies to balance innovation and risk, creating a better legal environment for the development of the digital economy.
The Beijing seminar discusses the legal and regulatory challenges of virtual currency disposal.
On January 19, 2025, a seminar on "Disposal of Involved Virtual Currencies" was held in Beijing, organized by the Law School of Renmin University of China and other institutions, attracting nearly 60 experts from the legislative, judicial, and business sectors. The conference delved into the legal attributes, regulatory policies, and judicial practices of virtual currencies. The main discussion points included:
1. Legal Attributes and Regulation of Virtual Currencies: Liu Xiaoyu from Zhongyin Law Firm pointed out that there are various viewpoints regarding the legal attributes of virtual currencies, such as the "virtual property theory" and the "digital goods theory." He suggested moderate policy adjustments based on risk prevention to enhance China's participation capability in the global Web 3.0 competition.
2. Challenges in Judicial Practice: Attending experts generally agreed that the decentralized and transnational characteristics of virtual currencies complicate judicial disposal, such as issues of classification, evidence collection, and custody. Guo Shuo from China University of Political Science and Law indicated that the nature and disposal rules of virtual currencies should be clarified at the legislative level, strengthening the participatory rights of victims and the standardization of disposal procedures.
3. International Perspective and Regulatory Coordination: He Ting from Beijing Normal University mentioned that the regulation of virtual currencies needs to focus on the coordination between criminal justice and administrative management, preventing new types of illegal crime risks, and addressing the issue of asset recovery through cross-border cooperation.
4. Integration of Technology and Law: Nie Youlun from East China Normal University emphasized the need to utilize blockchain tracking technology and advanced investigative methods to improve the evidence chain, while optimizing legal interpretations to address practical challenges.
The conference unanimously agreed that China needs to accelerate the legislation related to virtual currencies, clarify their property attributes and regulatory boundaries, strengthen international cooperation and technological application, and provide legal guarantees for the disposal of involved virtual currencies. Additionally, it was suggested to establish dynamic regulatory policies to balance innovation and risk, creating a better legal environment for the development of the digital economy.
