Chinese Communist Party orders crackdown on crypto-related graft
CIE News ·
Based on reporting by BeInCrypto; not yet independently confirmed.
The Chinese Communist Party has directed investigators to track and seize corruption concealed in virtual currencies and decentralized transfers, according to BeInCrypto.
The Chinese Communist Party published an official anti-corruption resolution instructing investigators to trace and seize graft moved through virtual currencies, decentralized blockchain transfers, and offshore digital accounts, BeInCrypto reported. The directive targets domestic officials and their families hiding assets in digital tokens despite mainland China's comprehensive crypto trading ban. The measure also mandates increased state oversight inside high-tech firms by requiring corporate Party committees to review major business decisions.
Key facts
- Anti-corruption directive
- Targeting crypto graft
- Offshore accounts scrutinized
- Corporate Party review mandated
Read the original at BeInCrypto