China Taps Hong Kong Exchanges to Unload Seized Cryptocurrencies

China’s Capital Details Process for Liquidating Seized Digital Assets Under “Beijing Model” News ETHNews

Beijing’s Public Security Bureau will liquidate seized bitcoin and cryptocurrencies through the Beijing Stock Exchange and Hong Kong. Proceeds from sales will convert into yuan and deposit into designated state accounts, following strict Chinese legal requirements. On June 6, Beijing’s Municipal Public Security Bureau announced plans to sell its bitcoin and other cryptocurrency holdings. This aims to standardize how the government handles seized…

China Taps Hong Kong Exchanges to Unload Seized Cryptocurrencies

China is set to embark on a historic exercise to sell all the Bitcoins seized in crime cases in partnership with regulated exchanges in Hong Kong.  Currently, China is reported to be among the top holders of digital assets with 194,000 BTC and 833,000 ETH.  China has announced its intention to sell Bitcoins that were seized in criminal cases on regulated exchanges in Hong Kong. According to the report, this initiative is in collaboration with th…

China announces plans to sell seized crypto via Hong Kong exchanges

China has announced plans to sell seized digital assets through licensed exchanges in Hong Kong. The initiative is in collaboration with the China Beijing Equity Exchange (CBEX) to manage digital assets seized in criminal cases. In line with this, CBEX will engage third-party agencies to help...