$BTC China Sells Its Bitcoin Through Hong Kong Exchanges

The measure is being carried out in collaboration with the Beijing Stock Exchange, which will be in charge of managing cryptocurrencies seized in criminal cases.

The Beijing Municipal Public Security Bureau in China officially announced its intention to liquidate its holdings of bitcoin ($BTC ) and other cryptocurrencies, as part of a process to standardize the management of seized crypto assets through the so-called "Beijing Model."

As reported by local news agencies and media, the information was released through a statement published on the security agency's official WeChat account.

The statement indicates that authorities have been seeking legal mechanisms to allow them to sell seized crypto assets. This action is complicated by the bans on cryptocurrency transactions that have been in place since 2021.