Virtual Currency Judicial Breakthrough! Property Attributes Finally Confirmed, Full Analysis of Compensation and Conversion Paths to Legal Currency
Core Consensus: Virtual Currency is 'True Property', Compensation Can Be Converted to Legal Currency
The People's Court Daily published an article signed by Judge Zhao Liang of the Shenzhen Intermediate Court on the front page, clearly stating that virtual currency has property attributes, ending the judicial dilemma of 'difficulties in retrieving frozen assets'.
The article pointed out: If compensation is needed for the victims' losses or the confiscation of illegal gains, it can explore the conversion to legal currency through licensed trading platforms in Hong Kong. This statement is of great significance—by 2025, the value of virtual currency involved in cases nationwide awaiting disposal exceeds tens of billions of dollars, and the amount involved in cryptocurrency cases soared to 430.7 billion yuan in 2023, but the compensation rate is less than 15%.
Realistic Conflicts: Triple Dilemmas Choking Judicial Throat
Difficulty in Ownership Identification
Private key control ≠ real-name ownership, relying on on-chain transaction records, IP tracking, expert testimony, etc., to build the evidence chain.
High Value Volatility
In a certain case in Shandong, the price of Bitcoin fluctuated over 50% from the incident to the trial, leading to frequent disputes over compensation amounts.
Lack of Liquidation Channels
Mainland policies prohibit virtual currency trading, traditional auction and sale paths have been blocked.
Data Support: In Q1 2025, the global cryptocurrency market value exceeded 2.1 trillion dollars, but only 30% of exchanges passed compliance license reviews.
Breakthrough Path: Shenzhen Court's 'Three-Step' Plan
The Shenzhen Intermediate Court has run through practical processes, core points are divided into three steps:
Record Supervision
File with the central bank and foreign exchange administration, entrust a third-party institution with state-owned assets background to operate;
Hong Kong Compliance Liquidation
Convert to legal currency at market price through licensed exchanges in Hong Kong (OSL, HashKey Pro);
Fund Reflow
Transferred to the court's special account for involved funds through cross-border RMB channels, with the entire process recorded on-chain.
Effectiveness: In a certain fundraising fraud case in Shenzhen, 12,000 Bitcoins were converted to 860 million yuan in 45 days, compressing the compensation cycle from 180 days to 45 days, with a victim satisfaction rate of 92%.
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