CPC Central Committee Decision Proposes Cracking Down on Corruption Carried Out Using Virtual Currencies and Blockchain
BIBIBI
AT A GLANCE
A relevant decision of the CPC Central Committee proposes cracking down on corruption carried out using virtual currencies, blockchain, and other means.
Article
CPC Central Committee: Vigorously Crack Down on Corruption Carried Out Using Virtual Currencies and Blockchain
PANews November 1 News, according to Xinhua, the CPC's 20 Fifth Plenary Session October 29 adopted the Decision of the CPC Central Committee on Several Major Issues Concerning Persevering in Advancing Full and Strict Party Governance, which proposes resolutely cracking down on corruption carried out using the internet, virtual currencies, cross-border funds, blockchain, and other means. The decision calls for thoroughly investigating new and hidden forms of corruption, such as expected returns, agreed nominee holdings, “white gloves,” and the political-business “revolving door,” with a focus on investigating issues including collusion between officials and businesspeople and the penetration of capital into the political sphere. The decision also proposes deepening the development of the digital discipline inspection and supervision system, advancing the development of a big-data supervision platform for the exercise of public power, and increasing efforts to investigate and handle cross-border corruption cases.
PANews said that, according to Xinhua, the CPC's 20 Fifth Plenary Session October 29 adopted the relevant decision.
02
The decision proposes resolutely cracking down on corruption carried out using the internet, virtual currencies, cross-border funds, blockchain, and other means.
03
The decision calls for thoroughly investigating new and hidden forms of corruption, such as expected returns, agreed nominee holdings, “white gloves,” and the political-business “revolving door.”
04
The decision proposes focusing on investigating issues including collusion between officials and businesspeople and the penetration of capital into the political sphere.
05
The decision proposes deepening the development of the digital discipline inspection and supervision system, advancing the development of a big-data supervision platform for the exercise of public power, and increasing efforts to investigate and handle cross-border corruption cases.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This news report says that the relevant decision lists corruption carried out using virtual currencies, blockchain, and other means as a target of crackdown, and calls for the use of big-data supervision and strengthened investigation and handling of cross-border cases. The original text addresses corruption carried out using these tools; it does not state that uniform measures will be taken against all virtual-currency or blockchain activities.
Why it matters to readers
This wording indicates that virtual currencies, blockchain, cross-border funds, and related concealed arrangements have been included among the areas of focus for anti-corruption investigations and supervision of the exercise of public power.
Beginners should distinguish between “cracking down on corruption carried out using virtual currencies or blockchain” and “restricting all related transactions or technological applications”; the evidence clearly supports only the former.
Risks and unknowns
The current evidence is PANews's account of an Xinhua report, not the official full text of the decision.
Not specified in the original text October 29 the year to which it belongs.
It remains unclear whether specific enforcement, regulatory, or compliance measures will subsequently be issued.
The original text does not provide data on the impact of BTC prices, trading, or holding activity.
Related Developments
Loading event timeline…
Related concepts
Agreed nominee holdings
This term is not in the glossary yet. Browse related concepts in the glossary.
