China's Communist Party Central Committee has pledged to crack down hard on corruption involving cryptocurrencies and blockchain technology. The commitment was outlined in a decision adopted at the Fifth Plenary Session of the 20th Central Committee, held October 29, focused on advancing comprehensive strict Party governance.
The document specifically targets corrupt activities leveraging internet tools, virtual currencies, cross-border capital flows, and blockchain infrastructure. It calls for deep investigation into new forms of hidden corruption, including expected-yield schemes, proxy holdings, "white glove" intermediaries, and revolving-door arrangements between government and business sectors.
Alongside enforcement measures, the decision emphasizes building digital discipline inspection systems, advancing big data supervision platforms for public power monitoring, and intensifying efforts to prosecute cross-border corruption cases.
China's Communist Party Vows Crackdown on Crypto and Blockchain-Enabled Corruption
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