The Beijing Municipal Public Security Bureau's Legal Affairs Division announced today that it has signed a 'Framework Agreement on the Disposal of Involved Virtual Currency Business Cooperation' with the Beijing Equity Exchange (referred to as the North Exchange), incorporating involved virtual currency into 'physical surrender'.

The process is as follows:

The public security authority will entrust the involved virtual currency physically to the North Exchange.

The North Exchange will select professional service institutions for technical testing, receipt, and transfer.

Then, it will be publicly liquidated through a compliant licensed exchange in Hong Kong,

And the funds obtained will be transferred to the public security authority's special account for involved funds after approval from the State Administration of Foreign Exchange.

Finally, it will be paid into the Chinese national treasury.

It is reported that this model has been successfully applied in a case by the Shunyi Public Security Sub-bureau, proving that the mechanism is feasible. #币安Alpha上新