Switch to seedless. Get 30% off with SWITCH30 till Nov 02China targets crypto in anti-corruption campaign
6.9 Regulation China targets crypto and blockchain in its anti-corruption campaign, focusing on officials using digital assets for bribery, but introduces no new trading bans for regular users.
China's Communist Party has officially incorporated cryptocurrencies and blockchain technology into its anti-corruption campaign. This follows a resolution adopted at the Fifth Plenary Session of the Central Committee on October 29, as reported by Xinhua on November 1. The resolution specifically targets officials, their relatives, and intermediaries who use virtual currencies, blockchain, or cross-border financial transfers to conceal bribes or illicit assets. While no new trading bans or tax measures were introduced, the directive empowers investigators to pursue digital asset-related corruption, including tracking wallets, stablecoin transfers, and offshore exchanges. Additionally, the document calls for stronger international cooperation, improved digital supervision systems, and increased oversight of technology companies. The move broadens the Party's anti-corruption efforts to cover emerging technologies and aims to strengthen discipline among officials, without imposing new restrictions on ordinary cryptocurrency trading.
