China’s ruling Communist Party has called for a crackdown on corruption carried out through virtual currency and blockchain.
The call is mentioned in the decision the Party’s Central Committee adopted on Oct. 29, at the Fifth Plenary Session of the 20th Central Committee. Xinhua published the full text on Nov. 1. It deals with what the Party calls “full and rigorous Party self-governance”, its push for stricter discipline in its own ranks.
The crypto reference appears in one sentence in the section on fighting corruption and calls for efforts to “resolutely crack down on corruption carried out through the internet, virtual currency, cross-border funds, blockchain and the like,” according to a translation from Chinese.
The decision does not name bitcoin, and it says nothing about trading, mining or stablecoins.
The text also asks to “dig deep into new and hidden types of corruption”, including “expected gains, agreed proxy holding,” “white gloves” and the official-business “revolving door”.
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