A Literature Review on the Disposal Models of Virtual Currencies in China

Abstract

Driven by blockchain and digital finance technologies, virtual crimes related to currency have grown rampant, and standardized judicial disposal of criminal virtual assets has become an urgent governance issue for China’s judicial organs. Based on an analysis of the three layer legitimacy of virtual currency being incorporated into criminal property disposal procedures, this paper sorts out three mainstream academic classification frameworks for virtual currency disposal modes in criminal cases. They are the trichotomy theory centered on disposal subjects, the dichotomy theory divided by litigation stages, and the dichotomy theory built upon power-right operation logic. Comparative analysis shows that the three classification theories complement each other yet differ in research dimensions, forming the basic theoretical spectrum of domestic research on virtual currency disposal. Looking ahead, future researches should construct a three dimensional integrated analysis framework integrating procedural stages, disposal subjects and right protection, promote the transformation of regional pilot experience into formal legislative norms, and realize the balance between financial risk prevention and victim asset recovery through the deep integration of technical governance and criminal procedure systems.