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People's Court News: Issue comprehensive guidance on judicial disposition of virtual currencies as soon as possible

The People's Court published the "Judicial Disposal of Virtual Currency Must Be Standardized", which pointed out that the standardization of judicial disposition of virtual currency is crucial to maintaining financial stability and promoting the healthy development of the market. According to the statistics of the SAFEIS Security Research Institute, the total number of cases involving virtual currency crimes in China in 2023 was 428, a decrease of 88.9% compared with 2022, but the amount involved increased sharply to 430.719 billion yuan, about 12.36 times that of 2022. The article emphasizes that the current virtual currency disposal faces multiple challenges such as ownership determination, value evaluation and legal realization. In order to deal with these problems, it is recommended to issue comprehensive guidance on judicial disposal of virtual currencies as soon as possible to clarify its legal status, compliance requirements, asset disposal procedures and legal responsibilities. At the same time, the article calls for strengthening international cooperation to jointly address the global challenges posed by virtual currencies and lay the foundation for the development of the digital economy and digital finance.