Degen

Despite the ban on cryptocurrency trading and mining in China, the country’s Supreme People’s Court stressed the need to develop clear protocols for handling cryptocurrency-related cases at a seminar in Beijing.

Yang Dong, a law professor at Renmin University of China, is leading a research project to strengthen the domestic legal framework.

At the same time, China’s State Administration of Foreign Exchange has tightened rules for monitoring cryptocurrency transactions and has asked banks to report suspicious transactions.

According to Liu Zhengyao, a lawyer in Shanghai, the new rules will provide another basis for punishing cryptocurrency traders.