Core Viewpoint - The Shanghai High Court has issued guidelines for the disposal of virtual currencies in criminal cases, aiming to enhance the recovery of assets for victims while navigating the complexities of virtual currency regulations [1][4]. Group 1: Shanghai Court's Approach - The Shanghai Baoshan Court successfully disposed of over 90,000 FIL coins using a "domestic entrustment, overseas disposal, closed-loop return" model [1][2]. - This model involves entrusting the virtual currency to a third-party institution, which then collaborates with qualified overseas agents to complete the transaction on a licensed virtual asset trading platform in Hong Kong [2][7]. - The funds from the disposal are converted and transferred to a dedicated account for the court, ensuring compliance with national foreign exchange regulations [2][7]. Group 2: Comparison with Beijing's Model - Beijing has also developed an innovative approach for handling virtual currencies, involving the Beijing Property Exchange and licensed trading platforms in Hong Kong [3][4]. - Both Shanghai and Beijing's models share a common goal of utilizing compliant platforms for overseas disposal, but differ in operational execution; Shanghai relies on third-party institutions while Beijing uses the Property Exchange [3][4]. Group 3: Legal and Regulatory Context - The legal status of virtual currencies in China is complex, with regulations prohibiting certain activities while recognizing virtual currencies as protected digital assets under the Civil Code [6][7]. - The Shanghai court's actions reflect a balance between regulatory compliance and asset protection, aiming to maximize recovery for victims while adhering to legal frameworks [6][7].

Group 1 - Ant Group's CEO, Han Xinyi, stated that the company will not issue virtual currencies or engage in any form of speculation, emphasizing that compliance is the lifeline of innovation [2] - The Shanghai High People's Court successfully disposed of over 90,000 FIL coins, marking a significant step in the legal handling of virtual currencies in criminal cases [4] - Zhao Changpeng and Binance have donated over $40 million to charity, benefiting approximately 3.8 million people since 2018, showcasing the use of blockchain for transparency in philanthropy [5] Group 2 - Hong Kong's Chief Executive, John Lee, announced the implementation of a stablecoin issuer system, with the Hong Kong Monetary Authority promoting tokenized deposits and asset transactions [7] - Yunfeng Financial announced the issuance of its first Real-World Asset (RWA) project, marking a breakthrough in the integration of traditional finance and blockchain technology [9] - Winner Fashion and Derlin Holdings have reached a strategic cooperation agreement regarding RWA tokenization plans, indicating a growing trend in the fashion industry towards blockchain integration [6]