Virtual currency involved asset disposal upgraded again: How are the three main pathways of liquidation, destruction, and return implemented?

【Blockchain Rhythm】Recently, regulatory authorities released important guiding opinions on the disposal of criminally involved virtual currencies, proposing a systematic legal framework. The core of this framework is to establish three differentiated disposal mechanisms: “liquidation, destruction, and restitution,” but several key supporting measures are needed for effective implementation.

First is to clarify the status of third-party institutions. Currently, in judicial disposal of virtual currencies, the roles of third-party platforms and service providers are not clearly defined legally, which can easily lead to disputes. In the future, specialized legislation is needed to include these institutions within the scope of judicial auction assistants, granting them exclusive rights for “one-time, targeted, non-public bidding,” effectively giving them a clear legal identity.

Second is to establish strict technical and procedural standards. This involves multiple aspects such as on-chain asset tracking, bidding process records, and fund transfer certificates. Relevant departments should jointly issue unified technical specifications and disposal procedures to ensure each disposal is traceable and transparent.

Supervision and rights protection are also emphasized as key points. Prosecuting authorities should participate throughout the process, periodically receiving reports on disposal progress, including on-chain tracking data, bidding details, and fund certificates. At the same time, mechanisms for rights notification and objections should be established, allowing involved parties and innocent third parties to stay informed and raise objections in a timely manner.

Finally, different disposal methods should be adopted according to the type of case. For example, in cases involving restitution of victim assets, targeted bidding should be prioritized for liquidation; if the victim’s stablecoins involved in a scam have not yet been exchanged, and the original currency is willing to be returned, direct repayment can be made to avoid exchange rate losses. For tokens used in pyramid schemes or gambling, if trading depth and liquidity are insufficient, forced liquidation might lead to depreciation; in such cases, destruction or technical sequestration should be chosen to prevent re-entry into the market. For high-value currencies mixed with legitimate investments, liquidation should be prioritized to maximize loss recovery.

The introduction of this framework signifies that the disposal of assets involved in virtual currency cases will enter a more standardized, transparent, and secure era.