• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Will Trump Pardon Sam Bankman-Fried? Polymarket Odds Surge as Traders React to CZ’s Release
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Will Trump Pardon Sam Bankman-Fried? Polymarket Odds Surge as Traders React to CZ’s Release
Crypto

China’s Secret Crypto Pipeline Runs Through Hong Kong—Report

Christian Encila
by Christian Encila
4 months ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

China’s top police body has set up its first official way to sell off crypto coins it grabs in criminal cases. The move leans on Hong Kong’s licensed trading platforms. It lets Beijing turn seized Bitcoin and Ethereum into yuan without loosening its own ban on crypto at home.

Related Reading: 1 Bitcoin Up For Grabs On Netflix Reality Show ‘House Of Streams’

Hong Kong’s Crypto Exit

According to a report by Tech In Asia, China’s Public Security Bureau has teamed up with the China Beijing Equity Exchange to sort out these sales. Hong Kong’s regulated exchanges will handle the trades. Third-party agencies will carry out the deals, then hand over yuan to government accounts. It’s a neat fix for a problem that used to leave seized funds stuck in digital wallets with no clear exit plan.

Mainland’s Strict Ban

China still bans almost all crypto trading and mining on the mainland. The new sales plan doesn’t change that. It simply taps Hong Kong’s rules, which let licensed firms serve big investors and qualified retail clients. That way, Beijing can keep its hardline stance while quietly moving large coin piles.

Handling Big Coin Stashes

Law enforcement in China now holds about 194,000 Bitcoin and 833,000 Ethereum from past busts. Those numbers add up fast. Storing so many coins carries security and paperwork headaches. Reports disclose that selling them off in one go can also shake markets. By using regulated venues, authorities get clear records and cut down risks tied to long-term custody.

Total crypto market currently valued at $3.28 trillion on the daily chart: TradingView.com

Global Context For Seizures

Other countries are wrestling with the same dilemma. The US government sits on roughly 200,000 Bitcoin worth close to $16 billion from darknet and criminal probes. Based on reports, the UK has about 61,000 Bitcoin seized in fraud cases. China’s new framework could offer a template for anyone that bans or limits crypto but still needs to cash in coins.

Related Reading: Crypto King? Trump Rakes In $1 Billion In 9 Months–Report

China’s setup highlights how “One Country, Two Systems” can play out in finance. Mainland rules stay tight. But Hong Kong, with its own laws, becomes the path out. That split lets Beijing steer clear of domestic fights over lifting bans, yet still tap global markets when it suits them.

Officials say the plan wipes seized coins from circulation, rather than letting fresh trading spring up. They argue it fits existing anti-crypto rules. However, some market watchers say the flow of hundreds of thousands of coins could still ripple through the wider market, even on licensed exchanges.

This move also shines a light on Hong Kong’s growing role in the crypto world. The city has issued more than a dozen licenses to exchanges since rolling out its digital asset rules. Now it will be the go-to place not just for investors, but for law enforcement looking to convert big blocks of Bitcoin and Ether into cash.

Featured image from Hong Kong Tourism Board, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Christian Encila

Christian Encila

Follow

Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

Full Profile

Related Posts

SpaceX

$133 Million In Bitcoin On The Move: SpaceX Makes Mysterious Transfer

2 hours ago
Bitcoin

Bitcoin Mining Shares Surge Following Jane Street’s Strategic Entry

12 hours ago
ETF

The First Ever Spot XRP ETF To Be Approved In The US Just Hit A Major Milestone

16 hours ago
Polymarket

Polymarket Confirms Token Airdrop, But US Launch Is Priority — Details

1 day ago
CZ

Trump’s CZ Pardon Sparks Fury — Congresswoman Leads The Backlash

1 day ago
crypto

Big Crypto, Tech Money Back Trump’s White House Ballroom – Details

1 day ago

Premium Sponsors

Press Releases

  • Snorter Bot...

    3 days ago
  • ORIGIN Protocol's LGNS Achieves Historic Milestone: Liquidity Tops $194 Million, Reclaiming Title as Global Leader in DeFi

    ORIGIN Protocol’s LGNS Achieves Major Milestone...

    4 days ago
  • bonus kcex

    Bonus KCEX: promozione da $21.000 con un bonus deposito del...

    4 days ago
  • Maxi Doge

    Защо Maxi Doge може да се окаже...

    4 days ago
  • 挖 1 枚比特幣耗電可供 61...

    4 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.