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<ul class="wp-block-list news-points">
 <li>Yao Qian used virtual currency to trade regulatory powers for financial benefits.&nbsp;&nbsp;</li>
 <li>He violated recruitment protocols, accepted luxury gifts, and misused public funds.&nbsp;&nbsp;</li>
 <li>Authorities confiscated his illegal earnings and transferred the case for prosecution.&nbsp;</li>
</ul>
Yao Qian, a top Chinese crypto advocate and former regulatory official, was expelled from the Communist Party for <a href="https://m.thepaper.cn/newsDetail_forward_29401625" target="_blank" rel="noopener noreferrer nofollow">corruption charges involving digital currencies</a>. This incident highlights the complexities of China’s relationship with cryptocurrencies, where a ban on trading and mining coexists with significant underground activity.
Chinese authorities have charged him with misuse of his discretionary powers, accepting bribes through digital currencies, and violating party discipline.
As the former director of the Science and Technology Supervision Department at the China Securities Regulatory Commission (CSRC), he was under scrutiny for his alleged activities, including using virtual currency in power-for-money trades. Following a disciplinary review,&nbsp; China’s ruling Communist Party removed him from public office.&nbsp;
<h2 class="wp-block-heading" id="h-yao-qian-s-alleged-misconduct">Yao Qian’s Alleged Misconduct</h2>
Investigators accuse Yao of exploiting his position…
The post <a href="https://coinedition.com/top-chinese-crypto-advocate-expelled-from-party-for-corruption/" rel="noopener noreferrer nofollow">Top Chinese Crypto Advocate Expelled from Party for Corruption</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Top Chinese Crypto Advocate Expelled from Party for Corruption

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