Henan Provincial People's Congress: The Ministry of Public Security is studying and formulating relevant regulations for virtual currencies, and local governments should not formulate them on their ow

PANews reported on August 17th that the Henan Provincial People's Congress, in its review report on the "Henan Province Regulations on the Management of Property Involved in Cases (Draft)," stated that virtual currency possesses the attributes of property and is considered property involved in cases. This recognition has essentially reached a consensus in judicial practice. However, my country currently has a complete ban on virtual currency transactions, and with no legal trading platforms, local authorities are still in the exploratory stages of handling virtual currency involved in cases. The report also revealed that the Ministry of Public Security is currently researching and developing relevant regulations, arguing that unified national regulations are more appropriate, rather than local legislation.