The Chinese official prison is imprisoned for bitcoin -related bribery and illegal transactions

Beijing Court has sentenced Hawa Gang, Deputy Director of the Beijing Financial Office, to 11 years in prison for bribery and laundering money related to bitcoin.

The ruling is another important step in China’s campaign for the financial misconduct associated with cryptocurrencies.

China’s cracking on bitcoin corruption

Court It is said On Thursday, February 6, it was issued after a two -year investigation in gang activities. Investigators found that dozens of millions of yuan in bribes to help bitcoin mining companies facing organizational challenges.

Local reports also indicate that he helped a senior executive of a major company in the field of mining travel restrictions for illegal payments.

The court initially handed over separate-eight years of bribery and four years to launder-but later integrate it into a 11-year prison sentence. In addition to prison time, Gang has a fine of 1.3 million yuan ($ 164,662).

Also, the officials issued his illegal profits, and redirect to the Ministry of Governmental Treasury.

Haw Gang played an important role in the financial sector of Beijing before the start of his activities. His guarantee reflects the strict position of China against Bitcoin’s financial misconduct. The ruling also indicates a continuous campaign of corruption within the sector.

This issue follows a calm version. Last year, the Chinese authorities sentenced a government prison worker to sell secret information to a foreign intelligence agency. Resorting to the individual, who is drowning in debts from failed encryption investments, resorted to spying in exchange for digital assets.

Over the years, the Chinese organizers have strengthened the restrictions imposed on reducing illegal encryption transactions, in line with the government’s long -term position against speculative investments in digital currencies.

However, China’s approach to organizing cryptocurrencies is still inconsistent. While one of the ruling was classified as a gambling, the previous Supreme Court decided to approve digital assets as legal properties.

This contradiction reflects the government’s struggle to maintain financial stability while adapting to a changing digital economy.