The Ministry of Public Security Plans to Formulate Virtual Currency Regulations; Local Legislation Must Be Cautious

According to reports from Hashchain, the Henan Provincial People's Congress pointed out that virtual currency is recognized as having property attributes and falls under the category of property involved in cases. This understanding has basically formed a consensus in judicial practice. Although our country has fully prohibited virtual currency trading and there are no legal trading platforms, various regions are still in the exploratory stage when dealing with virtual currencies involved in cases. The report also revealed that the Ministry of Public Security is studying and formulating regulations related to virtual currency, and this matter should be uniformly standardized at the national level, while local legislation should not make independent stipulations.