China is facing a new wave of corruption involving cryptocurrencies, local paper LegalDaily on Monday. The translated report emphasizes the use of encrypted digital currency, cloud transfer, e-gift cards, and cold storage for illicit transfers in bribery cases.
Once the bitcoin mining capital of the world, China has been developing strategies to eliminate illicit cryptocurrency practices. The Chinese government has played a tight hand in eradicating “financial misconduct.” Recently, Zhao Dong, a prominent figure in the cryptocurrency world, was handed a seven-year prison sentence by China’s Supreme Procuratorate for operating cross-border crypto transfers illegally.
China’s ‘cold storage’ problem
The state is raising alarms about new payment methods that have emerged in the internet era and provide hidden channels to officials for fund transfers. Meanwhile, experts reportedly weighed in the 2023 annual meeting of the China Integrity and Legal Research Association around t
We współpracy z: https://coingape.com/china-raises-crypto-led-corruption-concerns-in-new-bribery-cases/
