🇨🇳💼 China's Legal Protection for Virtual Assets: The People's Court of China has declared that virtual assets are legally recognized as property under the current law, granting them protection akin to tangible assets. The announcement also states that judicial authorities must adhere to proper procedures when dealing with virtual assets, forbidding arbitrary confiscation. The official commentary from the Chinese People's Court Interpol highlights that virtual assets possess economic value and are considered a form of wealth. The legal framework safeguards them as legal property, even in criminal cases, ensuring a balance between the protection of private property rights and public societal interests. 🏦💰 #China #VirtualAssets #LegalProtection