People's Court Daily: The disposal of virtual money can explore mechanisms such as overseas compliance monetization and "black hole" destruction.

On June 19, the People's Court Daily published an article by the Intermediate People's Court of Shenzhen, Guangdong Province, which pointed out that virtual currencies have corresponding property attributes and have basically formed a consensus in judicial practice. Where it is necessary to make restitution for the victim's losses or confiscate them, in order to balance the demand for virtual currency involved in the case and the mainland's regulatory policies, it may be explored to entrust a qualified third-party institution to convert the virtual currency into legal tender at market prices through a compliant licensed trading platform in jurisdictions where overseas virtual currency transactions are legal, such as Hong Kong, under the filing and supervision of the People's Bank of China, foreign exchange administration, and other departments. Virtual currencies that are used for crimes and endanger national security and public interests, such as privacy coins, can be sent to a "black hole address", destroyed, and permanently withdrawn from circulation.