China's Communist Party targets corruption involving crypto and blockchain
China's Communist Party has ordered tougher action against graft carried out through cryptocurrencies, blockchain technology, and cross-border funds, following a Central Committee resolution adopted on October 29.
China's Communist Party is escalating efforts against corruption linked to digital assets and emerging technologies. A resolution adopted by the party's Central Committee on October 29 calls for resolutely cracking down on corruption carried out using virtual currencies, blockchain, cross-border funds, and the internet, according to Decrypt.[3]
The mandate was detailed in a government document released on Sunday, The Block reported. The decision specifically takes aim at the use of crypto and blockchain systems to facilitate graft, alongside other methods of hidden, tech-enabled bribery.[2]
According to crypto.news, the party's resolution focuses on combating illicit schemes that use digital assets to conceal bribe payments and move illicit wealth across borders.[1]
Key facts
- China's Communist Party Central Committee adopted a resolution on October 29 calling for a resolute crackdown on corruption carried out through virtual currencies, blockchain, cross-border funds, and the internet.
- A Chinese government document released on Sunday ordered tougher enforcement against corruption involving cryptocurrencies and blockchain technology.
- The party's decision specifically targets crypto and blockchain networks used to facilitate graft and other forms of hidden, tech-enabled bribery.
- The resolution focuses on the use of digital assets to conceal bribes and transfer illicit wealth across borders.
Sources · 3 sources
- CN
crypto.news@cryptodotnewsPost on X ·
JUST IN: China’s Communist Party calls for tougher action against crypto-linked corruption A new resolution targets graft involving cryptocurrencies, blockchain technology and cross-border funds, including the use of digital assets to conceal bribes and move illicit wealth. https://t.co/QHwVxbDj7J
Open source - TB
The Block@TheBlockCoPost on X ·
THE BLOCK: China's Communist Party has ordered tougher action against corruption involving cryptocurrencies, blockchain, and cross-border funds, according to a government document released on Sunday. The decision specifically targets the use of crypto and blockchain to facilitate graft, alongside other forms of hidden, tech-enabled bribery.
Open source - DE
Decrypt@DecryptMediaPost on X ·
China's Communist Party Vows Crackdown on Crypto-Linked Corruption. A resolution the party's Central Committee adopted on October 29 calls for resolutely cracking down on corruption carried out using virtual currencies, blockchain, cross-border funds and the internet. https://t.co/JfCgpCZIjV
Open source