The Ministry of Justice wants to make legislative suggestions on virtual currencies. What is going on

From January 12 to 13, the Central Political and Legal Work Conference was held in Beijing.On the 14th, the official account of the “Central Political and Legal Affairs Commission Chang’an Sword” released a meeting notice, including “Promote the comprehensive rule of law and strive to build a higher level of rule of law in the chapter “The chapter on:Activate the detention center law,Judicial Appraisal LawWait for research and demonstration.For key areas, emerging areas and foreign-related areas,Ministry of JusticeWe must take the initiative to study and put forward legislative suggestions.For example, we need to study unmanned driving, low-altitude economy, artificial intelligence,Virtual currency, data ownership and other new issues.

I have read many articles that believe that the so-called legislative suggestions may be related to the legal attributes of virtual currencies. I personally believe that the above conclusion cannot be drawn through this report. There are three reasons:

First,We must understand the functions and roles of the Ministry of Justice.The Ministry of Justice has many functions, but the main ones related to virtual currencies are judicial appraisal.I personally believe that the legislative suggestions studied and put forward by the Ministry of Justice must be carried out only around its own functional positioning, and it is impossible to do what the two high schools and one department or even the central bank should do beyond their own responsibilities.

Second,This meeting is a meeting held by the Central Political and Legal Work Conference, that is, a meeting led by the superior departments of the public security, procuratorate, judicial and judicial departments. The notification of such meetings usually does not reflect the specific departments at the lower level. You can take a look at this notification, except for theThis place mentioned that “Ministry of Justice wants”, the rest of the contents do not have any expressions such as “public security department”, “people’s procuratorate”, and “people’s court”. If I were asked to guess why, I think it would be a proofreader.question?The word “Ministry of Justice wants” is removed, which is more in line with the format of this notice. People who have worked within the system should have a better understanding of this.Of course, if these words are removed, the imagination space of people in the circle may be greater.

Third,Some of the contents of the context have nothing to do with the responsibilities of the Ministry of Justice, such as the “Detention Center Law”. The draft for soliciting opinions in 2017 has made it clear that the public security organs will take the lead, and for example, the “Revise the People’s Police Law, the Road Traffic Safety Law, and the Public Security Administration Penalties.Laws and other laws do not fall within the scope of the functions of the Ministry of Justice.Therefore, since the previous emphasis was placed on what the Ministry of Justice should do, it must be limited to its functions.

Having written this, I really think there are a little flaw in the proofreading draft?

Let’s go back to what I just said. If the Ministry of Justice investigates and demonstrates the judicial appraisal law, the content involves how to conduct judicial appraisal of virtual currencies. This is in line with the current situation of judicial practice and is also an urgent problem that needs to be solved.In cases involving virtual currency, it has dual attributes. On the one hand, it itself belongs to a type of electronic data. It can be used as evidence to conduct judicial appraisal. On the other hand, if it is believed to have property attributes, appraisal of its valueetc., which does not fall within the scope of judicial appraisal.However, in practice, especially the determination of crimes of infringement, the actual value of the virtual currency involved, and the views of the prosecution and defense are inconsistent, and judicial appraisal agencies often determine the value of the virtual currency, which is essentially not in line with the relevant provisions of judicial appraisal..I hope that the Ministry of Justice’s investigation and demonstration of the judicial appraisal law and the legislative suggestions on virtual currencies can solve the problems in practice well.

Finally, in 2025, the Supreme People’s Court and some local high courts have conducted research on the disposal of virtual currency as a topic. Combined with my recent participation in some meetings, forums, etc., I still adhere to my previous view that the breakthrough of virtual currency in legal practice is likely to be.From the judicial disposal, it may take some time to argue whether the legal attributes of virtual currency are data or property. As for the expectation of currency friends to recognize the legal transactions of virtual currency, I think there is no condition at this stage.Judging from the crime situation in 2024 reported by the judicial authorities for a while, the focus is on using virtual currencies to exchange foreign exchange and money laundering. Foreign exchange crimes have affected the national foreign exchange management. As for money laundering crimes, they will face the FATF assessment next year, and I really can’t think of it.What reason is there to let go of virtual currency transactions?

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