《Virtual Currency Judicial Freeze, If the Party Refuses to Cooperate, Can It Be Enforced?》🚨
In recent years, the legal community has extensively discussed the compliance of judicial disposal of virtual currencies. Law enforcement should not dispose of involved virtual currencies without a court ruling!
In practice, the premise for law enforcement to dispose of virtual currencies is that the party voluntarily returns the stolen property. This article focuses on virtual currencies that have been judicially frozen. If the party refuses to cooperate in the transfer, even with a court ruling, the question arises whether it can be enforced.
1. Virtual Currency Disposal Process
1. Freeze: There are two situations: exchanges and digital wallets. For exchanges like Binance and OKEx, law enforcement can freeze accounts through their law enforcement request system; for digital wallets, they can contact Tether to freeze, as seen in the Jingmen cross-border online gambling case.
2. Transfer and Cash-Out: Typically, the process for the confiscation of funds in criminal cases involves law enforcement taking criminal coercive measures. After the case goes through the prosecutor's office and court, if recovery is necessary, the court's execution bureau enforces it if the stolen property has not been returned after the ruling takes effect. However, due to the peculiar nature of virtual currencies, practice often involves law enforcement disposing of them in the investigation stage first, freezing them and then requiring the party to transfer to a designated address, sign a disposal agreement, and authorize a third-party company to cash out. Methods include online OTC trading at exchanges, offline seeking buyers, collaborating with foreign trade companies, etc.
2. The Dilemma of Non-Cooperation by the Parties
For assets in exchange accounts, the freezing period can be extended for 6 months. Although mainstream exchanges cooperate with freezing, there have been no cases of asset deduction based on valid domestic court criminal rulings. When parties do not cooperate, the investigating unit may only be able to continue freezing. Taking the PlusToken case as an example, if the relevant speculation is true, it indicates a situation where the investigating unit lacks sufficient control over wallet addresses or private key information.
In summary, current judicial disposal of virtual currencies largely relies on the voluntary cooperation of the parties. When parties do not cooperate, the disposal process faces numerous difficulties.
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