Shanghai Court Sells Seized Filecoin

[johnblockbuster]

️ A Shanghai district court carried out the first legal sale of seized cryptocurrency in the city.

The Baoshan District People’s Court liquidated 90,000+ Filecoin using a Hong Kong–licensed exchange. The sale followed new procedures introduced by Beijing police in June:

Tokens are entrusted to licensed institutions.

Sales must meet or exceed the 20-day average price.

Proceeds go to the court, then either confiscated or returned to victims.

The Shanghai High Court hailed the move as a milestone for handling seized crypto assets in China’s legal system.

[jacson4]

China’s courts using licensed exchanges to liquidate crypto shows how far regulation has come.

[Nahid10]

Filecoin liquidation at average market price is a smart way to avoid dumping pressure.