In a series of legal actions against corruption and illegal activities in China, Zhao Dong, known as China's crypto OTC king, founder of RenrenBit, and a small shareholder of Bitfinex, has been sentenced to seven years for illegal business operations and illegal foreign exchange trading. Additionally, Gan Rongkun, a former member of the Standing Committee of the CPC Henan Provincial Committee and former secretary of the political and legal affairs commission, received a life sentence for accepting bribes exceeding 166 million yuan. Meanwhile, a New York Times article has raised concerns about the influence of Chinese citizens, particularly those in highly political and influential business positions, in the US cryptocurrency mining sector following China's 2021 ban on such activities. Chinese authorities have also alleged that foreign crypto trading platforms facilitated a $2.2 billion underground banking operation to help Chinese nationals evade capital control laws. In the US, a lawsuit against a Texas bitcoin mine has highlighted the involvement of Chinese investors in US crypto mines. Furthermore, Sun Guofeng, former head of the PBOC’s monetary policy department, has been sentenced to 16 years and six months in prison for corruption, including taking bribes, leaking state secrets, and engaging in insider trading between 2002 and 2020, with bribes amounting to $3 million.
Former China central bank official jailed for 16 years for graft - Caixin https://t.co/z6rda6nGXq https://t.co/AY8MXHb9Ec
"A former sr #PBoC official was sentenced to >16yrs in prison for taking bribes & leaking state secrets...Sun Guofeng, former head of the PBOC’s monetary policy dept, leaked policy info in exchange for $3 million in bribes bt 2002-20" https://t.co/nYeU4BDDoU
⚠️ FORMER CHINA CENTRAL BANK OFFICIAL JAILED FOR 16 YEARS FOR GRAFT - CAIXIN A former Chinese central bank official has been sentenced to 16 years and six months in prison for taking bribes, leaking state secrets and insider trading as the ruling Communist Party tightens its… https://t.co/iBDLwqN6Y7
Sun Guofeng, a former head of the PBOC’s monetary policy department, has been sentenced to 16 years and six months in prison for corruption, the country’s anti-graft agency said. https://t.co/AZL9hTRkbk
A former senior official at the People’s Bank of China has been sentenced to more than 16 years in prison for taking bribes and leaking state secrets, Caixin reports https://t.co/npHbwCIWnS
Gan Rongkun, a former member of the Standing Committee of the CPC Henan Provincial Committee and former secretary of the political and legal affairs commission of the provincial Party committee, was sentenced to life imprisonment for accepting bribes worth over 166 million yuan… https://t.co/xPbc5aY3PJ https://t.co/V9Ug6HsbMu
Chinese authorities allege foreign crypto trading platforms were used by a $2.2 billion underground banking operation to help Chinese nationals bypass strict capital control laws. https://t.co/6OX3eJO1Kg
China's Supreme Procuratorate disclosed the details of the team of China's crypto OTC king Zhao Dong. Zhao Dong was sentenced to 7 years for illegal business operations and illegal foreign exchange trading. He is the founder of RenrenBit and a small shareholder of Bitfinex.…
A lawsuit filed against a bitcoin mine in Texas has shed light on a growing trend: US crypto mines backed by millions of dollars from Chinese investors https://t.co/VmLV7D5Mm9
NEW: The NYT writes an article concerned that "not only Chinese citizens, but citizens in highly political and influential business positions” can build #Bitcoin mines in the 🇺🇸 US after the 🇨🇳 China ban in 2021 👀 https://t.co/9Pn2fKXd7h