Shanghai court achieves successful virtual currency disposal in criminal case for the first time

The Baoshan District People’s Court successfully disposed of over 90,000 FIL coins. This marks a significant precedent set by Shanghai’s judicial system in handling virtual currencies during criminal cases.

Using a third-party institution, the asset disposal involved overseas transactions completed on a licensed virtual asset platform. Following the proper legal procedures, proceeds were converted into foreign currency and managed according to regulations.

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