China Accelerates Legal Research on Crypto Amid Trading Ban

China’s legal authorities are speeding up their research on handling legal cases related to cryptocurrencies while continuing to enforce its ban on crypto trading and mining in the mainland.

A Beijing court announced on Tuesday that representatives from the Supreme People’s Court and several other high-level judicial authorities and universities held a seminar on Sunday to discuss the legal treatment of cryptocurrencies and related research studies.

Legal Handling of Crypto Cases: Yang Dong’s Research Project

A research project led by Professor Yang Dong from Renmin University of China focuses on how to address legal cases involving cryptocurrencies. Dong stated that such cases involve “national financial security issues” and argued that these studies could help improve the local crypto regulatory system. Tuesday’s statement did not provide further details on specific measures.

The seminar also emphasized the need for further research on strengthening cooperation between judicial and regulatory agencies, and proposed practical solutions for handling crypto-related cases.

The acceleration of legal research on crypto comes during a period when the country has enforced a ban on crypto trading in the mainland. In September 2021, the People’s Bank of China and several other central authorities issued a notice banning all crypto trading and mining activities on the mainland. However, Hong Kong has opened its doors to crypto firms.

In December, the People’s Bank of China highlighted crypto regulation in its latest annual financial stability report, stating that it aims to develop an international regulatory framework for crypto assets.

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