Beijing police pioneered a mechanism to dispose of tokens involved in the case: selling them through Hong Kong compliant exchanges and paying them to the national treasury

PANews reported on June 5 that according to the Capital Public Security Law Public Account, the Beijing Municipal Public Security Bureau Legal Affairs Corps and the Beijing Equity Exchange (hereinafter referred to as "BCE") have established a cooperation mechanism for the disposal of virtual currencies involved in the case. Recently, the Legal Affairs Corps held a signing ceremony for the disposal of virtual currencies involved in the case with the Beijing Equity Exchange. Liu Yan, deputy secretary and political commissar of the Party Committee of the Legal Affairs Corps, and Liang Xianjun, member of the Party Committee and deputy general manager of the BCE, jointly signed the "Framework Agreement on the Cooperation in the Disposal of Virtual Currency Involved in the Case", which included the virtual currencies involved in the case into the category of "physical surrender", established a judicial disposal model for virtual currencies involved in the case with qualified subjects, compliant processes, fair prices, and safety and reliability, and continued to deepen the reform effectiveness of the "Beijing Sample" of property management involved in the case.

The public security organs entrusted the physical virtual currency involved in the case to the Beijing Stock Exchange for disposal. After accepting the entrustment of the public security organs, the Beijing Stock Exchange selected professional service agencies to conduct inspection, reception, and transfer of the virtual currency involved in the case, and sold it publicly through a compliant licensed exchange in Hong Kong. After completing the national foreign exchange management approval procedures, the settlement was transferred to the special account of the public security organs involved in the case and turned over to the state treasury. At present, this model has been used to successfully dispose of the virtual currency involved in a case handled by the Shunyi Public Security Bureau.

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Author: PA一线

This content is for informational purposes only and does not constitute investment advice.

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