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, Guangdong Province (Disposition of Virtual Currency Involved in Criminal Cases: Challenges, Innovations, and Judicial Responsibility), which points out that virtual currency has corresponding property attributes, and there is basically a consensus formed in judicial practice.
For cases that require compensation for victims' losses or confiscation, in order to balance the need to dispose of virtual currencies involved in the case with mainland regulatory policies, it can be explored to register and supervise through qualified third-party institutions under the People's Bank of China, foreign exchange management and other departments, in legally recognized judicial jurisdictions for virtual currency trading abroad, such as Hong Kong, to convert virtual currency into legal tender at market prices through compliant licensed trading platforms. After realizing it overseas, the procedures will be handled in accordance with the regulations of the State Administration of Foreign Exchange (on issues related to opening foreign exchange accounts and handling foreign exchange receipts and payments by people's courts in foreign judicial activities). For virtual currencies used in crimes that endanger national security and public interests, such as privacy coins, they can be sent to a 'black hole address' for destruction, permanently exiting circulation. [Original link]