News Explorer — China Sentences Former Party Official to Life Imprisonment for Corrupt Activities in Crypto Mining

China Sentences Former Party Official to Life Imprisonment for Corrupt Activities in Crypto Mining

A former Chinese party official, Yi Xiao, has been sentenced to life imprisonment for corrupt activities related to cryptocurrency mining. Xiao was found guilty of accepting bribes and using his positions to assist companies engaged in crypto mining, resulting in significant losses to public property. China has banned all crypto transactions on the mainland since September 2021 and has been cracking down on crypto mining since May 2021.

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Aug 22, 3:59 am

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