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International Business Times

Business

Marvie Basilan

China Selling Seized Digital Assets? Crypto Users Troll Local Governments In 'Germany Type Move'

Crypto China Germany United States Bitcoin Economy

China has reportedly been selling its seized crypto for cash through private companies. (Credit: Towfiqu Barbhuiya/Unsplash)

KEY POINTS

Local Chinese governments are reportedly selling their crypto for cash to replenish public coffers
One Chinese expert said disposing of seized crypto via private companies isn't fully in line with China's stance on crypto trading
Crypto holders are trolling the approach, saying it wasn't the smartest move and is similar to how Germany dumped its $BTC

China'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.

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