Lawyer: Cases involving virtual currencies create serious logical contradictions, with the core issue being the inconsistency between legal definitions and policy definitions

Chain Catcher news reports that in light of recent controversies regarding the legality of virtual currencies, Jiemian News recently stated in its report that multiple cases regard virtual currencies themselves as virtual property. However, in practice, virtual currencies inevitably circulate in the market due to their attributes of trading, payment, and investment. How to define the legality and compliance of virtual currency-related businesses has brought a lot of controversy to court judgments.

Guo Zhihao, a partner at Beijing Yingke (Shenzhen) Law Firm, stated in an interview that the reason for the serious logical contradictions in current virtual currency cases lies in the fact that the legal definition of virtual currency is protected network virtual property, while the policy definition is an unfavorable factor for financial stability.
Guo Zhihao indicated that strictly speaking, policies should not interfere with the judiciary, but in reality, many judicial organs have to consider policy factors; coupled with the absence of specific laws or judicial interpretations regarding virtual currencies, this ultimately leads to the emergence of contradictions. He believes that a major prerequisite for clarifying virtual currency businesses is to first achieve unity between law and policy and to introduce specific legal regulations. (Jiemian News)