People's Court Daily: Virtual money has corresponding property attributes, and if it involves refund compensation, it can be explored to exchange fiat through a Compliance licensed trading platform.

CoinVoice has recently learned that the People's Court Daily published an article signed by Zhao Liang from the Intermediate People's Court of Shenzhen City, Guangdong Province, titled "Disposal of Criminal Case Involving Virtual Money: Challenges, Innovations, and Judicial Responsibility." It points out that virtual money has corresponding property attributes, and a consensus has basically formed in judicial practice.

For compensation to victims or confiscation, in order to balance the demand for handling virtual money involved in the case with mainland regulatory policies, it is possible to explore registering and supervising with relevant departments such as the People's Bank of China and foreign exchange management, entrusting qualified third-party institutions to convert virtual money into legal currency at market prices through compliant licensed trading platforms in legally recognized jurisdictions for virtual currency trading abroad, such as Hong Kong. After cashing out abroad, it should be handled in accordance with the provisions of the State Administration of Foreign Exchange's "Letter on Opening Foreign Exchange Accounts and Handling Foreign Exchange Income and Expenditure by People's Courts in Foreign-Related Judicial Activities." For virtual money used in crimes that endanger national security and public interest, such as privacy coins, they may be sent to a "black hole address" for destruction, permanently exiting circulation.