Henan Provincial People's Congress: It is not appropriate for local authorities to legislate on the disposal of Virtual Money for the time being.

According to Mars Finance, the Henan Provincial People's Congress released a report on the review results of the "Draft Regulations on the Management of Suspected Property in Henan Province ( )", specifically mentioning issues related to the disposal of involved virtual money. The report sends a policy signal that regarding how to handle those virtual currencies seized during case handling, Henan Province feels that local legislation is inappropriate. In the report, the Henan Provincial Legal Affairs Committee believes that virtual money has property attributes and belongs to suspected property, and a consensus has basically been reached in judicial practice. However, the trading of virtual money is completely prohibited in our country, and there are no legitimate trading platforms, so how to dispose of virtual money is still being explored in various regions. Currently, the Ministry of Public Security is studying and formulating relevant systems for virtual currency, suggesting that the management of this new type of suspected property is more suitable for unified regulation at the national level, and local legislation should not make provisions.