Shanghai Court in China deals with more than 90,000 FIL tokens involved in the case through Hong Kong licensed virtual asset trading platform

According to BlockBeats, on September 16, according to the official account of the Shanghai High Court, recently, the Shanghai Higher People's Court of China issued standardized guidelines on the disposal of virtual currency price change in criminal cases in courts across the city. Recently, the Baoshan District People's Court of Shanghai (hereinafter referred to as Baoshan District People's Court) successfully disposes more than 90,000 FIL coins in price in accordance with the above guidelines and with the guidance of the Shanghai Higher People's Court and the coordination and cooperation of the Shanghai Public Security Bureau. According to reports, in the face of the cutting-edge judicial problem of "disposal of virtual currency involved in the case", the Shanghai court conducted sufficient research and demonstration in terms of policies, regulations and operational paths. Under the guidance of the superior department, it cooperated with multiple units to explore the price change disposal mechanism of "full-chain compliance and multi-subject coordination", that is,: the People's Court entrusts the virtual currency involved in the case to a pilot third-party agency to deal with it; after the third-party agency provides performance guarantees, it will transfer the overseas transaction link to qualified overseas agents, and assist in completing the overseas disposal link on a licensed virtual asset trading platform certified by the Hong Kong Securities Regulatory Commission at a price not lower than the average price of 20 days before the transaction date. After completing the approval procedures for the state foreign exchange management, the foreign exchange settlement will be transferred to the exclusive account of the People's Court for case funds. The subsequent confiscation will be confiscated and handed over to the state treasury or returned to the victim in accordance with the law, realizing "domestic entrustment, overseas disposal, and closed-loop return".