PANews August 3 report, according to (China Economic Net), since 2021, when my country strictly prohibited virtual currency trading, how to handle the involved virtual currency has become a major problem. The Beijing Municipal Public Security Bureau's Legal Affairs Division has collaborated with the Beijing Equity Exchange to establish a cooperative mechanism for the disposal of involved virtual currencies. The main process is: the public security organ entrusts the physical involved virtual currency to the Beijing Equity Exchange for disposal, the Beijing Equity Exchange selects professional service institutions to conduct testing, acceptance, handover and other operations on the involved virtual currency, and publicly converts and sells it through a licensed trading platform in Hong Kong, with the exchanged funds transferred to the public security organ's special account for involved funds, and subsequently confiscated according to law for submission to the national treasury or returned to the victims.
According to the process design, the multi-department collaboration established by agreement can ensure that the transfer, inquiry, trading, exchange settlement, and accounting of virtual currencies are completed in an orderly manner. After multiple demonstrations, all preparations have been completed. On March 29, the Legal Affairs Division guided the Shunyi Branch to sign the (Virtual Currency Disposal Business Agreement) with the Beijing Equity Exchange.
