China Encouraged to Implement Unified Guidelines for Seized Digital Assets

A law professor from East China University of Political Science and Law has called for China to standardize procedures for recovering illicit digital assets amid rising cryptocurrency-related crimes. He stressed that the lack of uniform regulations complicates efforts to track, seize, and liquidate assets like bitcoin and ether.

Recent legal revisions now classify cryptocurrencies as part of money laundering offenses. The professor emphasized the need for comprehensive guidelines and international cooperation to effectively manage and recover digital currencies, warning that inconsistencies hinder economic activities and law enforcement.

Clever Robot News Desk 6^th September 2024