China’s judiciary authorities are taking significant steps to address the legal complexities surrounding cryptocurrency cases. Despite maintaining a stringent ban on crypto trading and mining on the mainland, the country’s top judicial and academic institutions are now intensifying research into how digital assets are treated within the legal system.
A recent seminar hosted by the Supreme People’s Court in Beijing highlighted the growing need to establish clear protocols and standards for handling cases involving digital currencies.
China Explores Legal Framework for Crypto Cases
At the forefront of these efforts is a research project led by Yang Dong, a law professor at Renmin University of China. The project is reportedly aimed to enhance China’s domestic regulatory framework by offering practical solutions for the legal treatment of digital currency assets.
According to Yang, the ongoing work is critical not only for individual case management but also for safeguarding national financial security. While details on specific measures remain limited, the initiative underscores the seriousness with which Chinese legal experts are approaching the issue.
Furthermore, one key outcome of the recent seminar was a call for stronger collaboration between China’s judicial and regulatory agencies. Legal scholars and policymakers emphasized the importance of aligning enforcement actions with clear legal guidelines.
The discussion also touched on the need for more practical solutions to ensure that legal cases involving digital currencies are resolved “efficiently and fairly.”
As part of these efforts, the seminar proposed new strategies for case handling and called for additional research into the broader implications of crypto-related litigation.
China Continuous Stringent Regulations
Since September 2021, when China’s central bank and other authorities formally banned all crypto trading and mining activities, the country has seen an increase in legal disputes related to digital assets.
The acceleration of judiciary research suggests that Chinese authorities are seeking to close existing gaps in their regulatory approach. This effort could inlcude studying how other jurisdictions handle similar cases and adapting those insights to fit China’s unique legal and financial environment.
Meanwhile, China has continued to implement unfavorable laws against crypto in the region.Just recently, the country tightened its rules on banks to monitor crypto transactions.
NEW:
China’s State Administration of Foreign Exchange has tightened rules on trading in Bitcoin and cryptocurrencies, now requiring banks to monitor and report transactions, in order to prevent illegal activities such as underground banking and cross-border gambling. pic.twitter.com/N49mqugE6S
— Bitcoin News (@BitcoinNewsCom) January 2, 2025
Liu Zhengyao, a lawyer at ZhiHeng law firm in Shanghai, wrote concerning this, noting:
The new rules will provide another legal basis for punishing cryptocurrency trading. It can be foreseen that mainland China’s regulatory attitude towards cryptocurrencies will continue to tighten in the future.
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