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Felicia Tan
in
Crypto
June 5 19:44

China will legalize the transfer of cryptocurrency through inheritance

Chinese politicians supported the idea of equating cryptocurrencies with assets. 
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In May, city administration employees received their salaries in digital money. And today the ruling party is considering the option of legal transfer of crypto assets by inheritance.
Chinese politicians supported the idea of equating cryptocurrencies with assets, as well as transferring them by inheritance. While this was a possibility in the past, it was enough for the owner of a purse to hand over access to it to his children or grandchildren, now it can be done officially. Cryptocurrency will be taken into account when making the will and will also be considered as part of the inheritance.
The law will come into force on January 1, 2021. As experts note, the adoption of the law is another step towards the full legalization of cryptographic currency in China, which in turn will lead to the country becoming the world's main cryptooasis.