BlockBeats news reports that after China strictly prohibited virtual currency trading in 2021, the preservation and disposal of virtual currency involved in cases has become a thorny issue faced by public security in various regions. Recently, a reporter from China News Network, along with a media interview group from the Ministry of Public Security's 'Guardians Under the Sun' legal publicity campaign, visited the Duyun City Property Management Center in the Qiannan Buyei and Miao Autonomous Prefecture of Guizhou Province to learn about local public security practices in preserving virtual currency involved in cases.
During the case handling process, public security organs found that a criminal suspect had exchanged the illegal proceeds involved in the case for virtual currency. The public security in Duyun froze the virtual currency involved in the case during the sealing process, confiscated it into a cold wallet set up by the public security organs for physical isolation, and stored it at the Duyun City Property Management Center, awaiting a court judgment.
The exploration by Duyun public security provides a 'solution approach' for the preservation of virtual currency involved in cases, while various regions are still searching for better solutions. It is reported that Duyun public security closely monitors the difficulties in the custody, transfer, and disposal of involved property, actively exploring reforms in the management of involved property, and promoting the construction of a cross-departmental property management center. Since its establishment and commencement of use in November 2022, the center has received 24,753 items of involved property, over 20.4955 million yuan of involved funds, and centralized custody of more than 7,000 case files.
