A lawmaker from China presented a new proposal, claiming that the nation’s regulations regarding cryptocurrencies had some holes in them.
Stay in the know on crypto by frequently visiting Crypto News Today
A lawmaker from China has suggested changing Article 144 of the nation’s Code of Criminal Procedure in order to facilitate the questioning of suspects and to freeze their assets, including virtual currency.
The MP claimed that it is difficult to detect, store, and assess virtual currencies using the current system.
In an interview with “Rule of Law Daily,” Jiang Fan, a deputy of the National People’s Congress and chairman of the board of Hunan Renren Law Firm, stated that the virtual currency destruction system in question urgently needs to be improved.
“One of the most important and challenging issues in judicial practice today is the disposal of virtual currencies,” Jiang stated. He pointed out that current institutional arrangements, investigative techniques, and methods of destroying property cannot satisfy the real needs of virtual currency seizure, storage, realization, and other case-related activities because of the peculiarities of virtual currency, which set it apart from traditional properties.
CryptoCaster Quick Check:
Jiang stated, “There is an incompatibility between the practical requirement to dispose of and realize the virtual currencies involved in the case and the country’s ban on the circulation of virtual currencies.”
He made the observation that there are hidden economic values at play when it comes to the evaluation of virtual currencies seized in criminal cases, and that doing so can serve the interests of multiple organizations. Jiang claims that due to its high economic value, criminal suspects may be given the chance to return stolen property and make restitution, thereby obtaining leniency in their punishment, as well as compensation for any property losses suffered by victims of criminal cases and the prevention of violations of their legitimate rights and interests.
If this article brought you clarity, insight, or value—support the work that made it possible.
At CryptoCaster, we report on Web3, crypto markets, and institutional finance with no billionaire owners, no shareholders, and no hidden agenda. While mainstream media bends toward Elon Musk, BlackRock, and JPMorgan narratives, we stay focused on what matters: truth, transparency, and the public interest.
We don’t just cover the headlines—we investigate the power structures behind them. From FTX and Ripple to the quiet push for CBDCs, we bring fearless reporting that isn’t filtered by corporate interests.
CryptoCaster is 100% paywall-free. Always has been. To keep it that way, we depend on readers like you.
If you believe independent crypto journalism matters, please contribute—starting at just $1 in Bitcoin or Ether. Wallet addresses are below.
Your support keeps us free, bold, and accountable to no one but you.
Thank you,
Kristin Steinbeck
Editor, CryptoCaster
Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. CryptoCaster.world does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.
Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
CRYPTOCASTER HEATMAP
