Some articles for those who are curious:

• https://cointelegraph.com/news/chinese-citizens-are-now-able-to-inherit-cryptocurrency
• https://fintechzoom.com/fintech-news-bitcoin-news/china-passes-law-protecting-cryptocurrency-inheritance/
• https://coingeek.com/chinas-new-law-allows-digital-currencies-inheritance/
• https://news.bitcoin.com/china-law-cryptocurrency-inheritance/

There isn't much information on how they're planning on making such thing work though. But by the sounds of it, probably not a good idea? As for the funds to be inherited someone else should have access to the keys. Well, unless the funds are in custody in the first place, which we know is not a good idea in most cases.

Thanks for the links @mk4.
Seems like the OP forgot to input those for reference.
It's not that big news and that is why not many of us received it. Next time please do share the links.

Credits: Cointelegraph

So this means KYC to identify/prove if you are the true heir of the said cryptocurrency?
Takes out the privacy thing.
I'd rather let them inherit a piece of paper with all the details rather than giving out all my information.

Not only in.China but in every country laws can be changed whenever political majority wishes to do so, every political party that has a needed majority in parlament can do that.
Anyway, I don't think there is anything special in this law, it tries to regulate inheritance of cryptocurrencies although I can't see the big importance of it. Nevertheless, China is probably only country that has such law specific for cryptocurrencies.

I need a good example for how China's law could actually protect someone's CryptoCurrency inheritance or what not. Just including it in the law doesn't necessarily make it a good decision or anything, especially if there are possible loops that could actually be taken advantage of.


Absolutely no need for the law if it's just simple as this. Citizens just need to pass on their passwords, keys, secret codes, etc., to their heirs. If China actually held control over the internet, then this rule may be effective since in essence, they can pretty much control all accounts of transactions such that nothing illegal would pass their eyes, but they aren't.

I doubt it's just a matter of verification. It's kind of like you're leaving China with every possible secret code,passwords, keys, secret phrases, and the like, which is not just simple privacy. In essence, the real world and the virtual world (internet) is quite different from each other leaving such comparisons unsuitable imo.

This could be related to what they are about to launch, the Digital Yuan or the Chinese CBDC. That law means that every person that owns cryptocurrency is required to record somewhere his private keys. Where's the place?

We don't know, we have no idea what's the complete law under that civil code. But as long it's not the government and each owner should just keep it individually, I guess there's no problem if it is like that.

This. I'd never trust it to any government, especially Chinese one. There's no way they're not gonna utilize this in some way or another

If people are curious about inheritance, China is a communist nation where the people don't necessarily own what they have or use.
Government in China, more specifically the CCP owns every land and buildings in China, agricultural lands are collectively owned.
There are many restrictions on what the people can inherit to their child, now cryptocurrencies has been added as inheritable asset.

The articles related to the said law that has been passed does not have much information for us to rely into, maybe they included this to their ruling but I doubt they would do this. The implementation is quite questionable, what I think they will do is they will gather all your crypto keys including password, seed phrases, etc. which might be a contradicting stuff for cryptocurrencies since most of the people embraced the crypto because of the decentralization. I believe that they have studied this, a simple argument with " you can leave it just to your family before dying" will simply shuts out.

Of course he did, coz there no such rule as this, but I know Hal he's not going to have this on his own. Besides, he knows that he got living in a borrowed time so he did what he must have to do.

Again, this will only do for cases such as sudden death, so the family will take over his/her crypto belongings which I think is good to have. Let's see where this would go.

To be honest, I don't think that any government should have anything to do with monitoring or controlling cryptos at least for now.
But of course, China is China and they will do what they want.

As bitcoin and cryptocurrencies gain more and more publicity, it's really to be expected that we're going to have tighter and tighter regulations and control in general. And what way to gain control than to probably convince other people to use centralized custody?

And it's not only going to be in China. It's most likely going to be the same with the US and with most governments.