China's Supreme Court is urging the creation of clear protocols for digital currency cases. Learn about the latest legal developments in China regarding digital currencies.
Despite the ban on transactions and mining of digital currencies in China, the country’s Supreme Court emphasized the need to establish clear protocols for handling cases related to digital currencies in a seminar in Beijing. Yang Dong, a law professor at Renmin University of China, is leading a research project to strengthen the domestic legal framework. Meanwhile, China’s State Administration of Foreign Exchange has tightened regulations on digital currency transactions and instructed banks to report suspicious transactions. According to Liu Zhengyao, a Shanghai lawyer, these new laws will provide another basis for punishing digital currency traders.
