China's top judiciary body said authorities will further study adjudication rules for cryptocurrency as the country sees "emerging cases" tied to crypto.

During a Wednesday press conference in Beijing, Liu Guixiang, a supreme judge and a member of the Supreme People's Court judicial committee, said Chinese courts will conduct in-depth research into adjudication rules for "emerging cases involving virtual currencies and cross-border finance."

Liu also noted that authorities will move quickly to issue judicial interpretations on civil compensation related to insider trading and market manipulation.

The press conference was held as part of China's broader "15th Five-Year Plan" framework, which guides the nation's key economic and technological policies through 2030. The strategy includes efforts to integrate cybersecurity across digital infrastructure and governance in the world's second-largest economy.

Notably, Liu's remark builds on a February joint notice that broadened the country's crackdown on crypto-related financial activities. The notice reaffirmed the Chinese mainland's ban on crypto transactions, while expanding oversight to areas such as real-world asset tokenization and offshore yuan-linked stablecoins.

Crypto status

While crypto trading remains banned on the Chinese mainland, multiple local courts have previously viewed cryptocurrencies such as bitcoin as virtual property in legal disputes involving ownership rights. 

However, the February notice stated that civil legal acts involving investments in cryptocurrencies would be deemed invalid, and that "any resulting losses shall be borne" by the investors themselves.

In contrast, Hong Kong has embraced the crypto industry and continues efforts to position itself as a global crypto hub.

In April, the Hong Kong Monetary Authority, the de facto central bank, issued the region's first stablecoin licenses. The HKMA later cautioned the public against fraudulent stablecoins falsely claiming ties to the licensed issuers — HSBC and Anchorpoint Financial.

Separately, Hong Kong authorities also published consultation conclusions on Tuesday for licensing regimes governing virtual asset advisory and virtual asset management services, and said they would move forward with finalizing legislative proposals.