Finally, we’re seeing the official media system discuss the technical details of crypto-related asset disposal. Phrases like custody platforms and targeted auctions suggest that the gray area will be brought into the mainstream regulatory framework; for the industry, that may not necessarily be a bad thing.

Wu Says learned that a theoretical article in the People’s Procuratorate Daily pointed out that China’s crackdown on crimes of money laundering using virtual currencies still faces issues such as criminal act characterization, evidence collection, and recovering and mitigating seized proceeds. It also suggested establishing adaptable standards for verifying and reviewing electronic evidence, building a tiered proof standard and rules for reasonable presumptions, and exploring the authorization and standardized application of technical investigative measures. At the same time, it called for issuing national-level procedures for disposing of assets involved in cases involving virtual currencies, unifying operational standards for seizure, custody, valuation, and liquidation, building a national-level custody and disposal platform for virtual currencies involved in cases, and handling disposal through compliant channels such as targeted auctions or agreement-based transfers.