Shanghai court successfully disposed of virtual currency in a criminal case for the first time, with over 90,000 FIL coins sold
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最新报道：According to the Shanghai High Court's official account, the Baoshan District People's Court of Shanghai, under the guidance of the Shanghai Higher People's Court, successfully disposed of over 90,000 FIL coins. This marks the first successful virtual currency disposal by a Shanghai court in a criminal property enforcement case. This disposal utilized a "domestic entrustment, overseas disposal, and closed-loop repatriation" model. The People's Court entrusted a third-party agency with the disposal. After providing a performance guarantee, the third-party agency then delegated the overseas transaction to a qualified overseas agent. The disposal was completed on a licensed virtual asset trading platform certified by the Hong Kong Securities and Futures Commission (SFC). The transaction price was no less than the 20-day average price prior to the transaction date. The proceeds from the disposal, after completing national foreign exchange management approval procedures, were converted into foreign currency and transferred to the court's dedicated case fund account. Subsequently, they will be confiscated and paid into the state treasury or returned to the victim in accordance with law.
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