Source: International Business Times
China has reportedly been selling its seized crypto for cash through private companies. Towfiqu Barbhuiya/Unsplash KEY POINTSLocal Chinese governments are reportedly selling their crypto for cash to replenish public coffersOne Chinese expert said disposing of seized crypto via private companies isn't fully in line with China's stance on crypto tradingCrypto holders are trolling the approach, saying it wasn't the smartest move and is similar to how Germany dumped its $BTCChina's cryptocurrency pile is growing as the world's second-largest economy continues to crack down on illegal transactions, but local governments are reportedly selling their seized digital assets to dispose of their ballooning piles. There is ongoing debate on how authorities should handle seized Bitcoin and other cryptocurrencies, and with a lack of a standard approach, there is also growing fear that corruption and law-breaking may be fostered along the way.
