{"id":142815,"date":"2024-11-21T17:00:41","date_gmt":"2024-11-21T15:00:41","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=142815"},"modified":"2024-11-21T14:02:18","modified_gmt":"2024-11-21T12:02:18","slug":"ex-central-bank-digital-currency-head-faces-expulsion-over-crypto-corruption","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/ex-central-bank-digital-currency-head-faces-expulsion-over-crypto-corruption\/","title":{"rendered":"Ex-Central Bank Digital Currency Head Faces Expulsion Over Crypto Corruption"},"content":{"rendered":"<p>This follows <strong><a href=\"https:\/\/www.ccn.com\/news\/crypto\/yao-qian-china-cbdc-crypto-corruption\/\" rel=\"nofollow\">accusations<\/a> <\/strong>from the country\u2019s anti-corruption authorities, who claim that Yao abused his regulatory power for personal benefit, particularly in relation to cryptocurrency deals. The charges include corruption, where he allegedly engaged in improper money-for-influence exchanges and favored certain technology service providers for his gain.<\/p>\n<p>The anti-corruption agency\u2019s announcement emphasized that Yao had fabricated his credentials and violated laws while serving in key positions. Though specific amounts have not been disclosed, reports suggest Yao amassed considerable illicit wealth. His case has been forwarded to prosecutors for further investigation.<\/p>\n<p>Yao, born in 1970, was instrumental in developing China\u2019s digital currency landscape. In 2017, he became the first head of the central bank\u2019s digital currency research institute, a position that allowed him to influence China\u2019s digital yuan development. Later, he held a leadership role at the China Securities Regulatory Commission, overseeing technology regulations.<\/p>\n<p><div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1\">Read More:<\/h5>\n    <a class=\"article row post-142799\" href=\"https:\/\/cryptodnes.bg\/en\/ftx-co-founder-gary-wang-sentenced-to-time-served-marks-end-of-executives-trials\/\" title=\"FTX Co-Founder Gary Wang Sentenced to Time Served, Marks End of Executives&#8217; Trials\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2024\/09\/IMAGE-2024-07-01-190044-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">FTX Co-Founder Gary Wang Sentenced to Time Served, Marks End of Executives&#8217; Trials<\/h4>\n        <\/div>\n    <\/a>\n<\/div>\n<\/p>\n<p>Aside from his regulatory work, Yao was an advocate for blockchain technology. In 2022, he published a book discussing decentralized finance, NFTs, and Web3. He also warned of the potential risks associated with Bitcoin ETFs, in an article published just months before the corruption charges surfaced. This article has now become one of his final public statements.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yao Qian, a prominent figure in China\u2019s blockchain and digital currency sector, has been expelled from the Communist Party of China and dismissed from his public office.<\/p>\n","protected":false},"author":3,"featured_media":26656,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[26],"tags":[72],"coin_category":[],"class_list":["post-142815","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocrime","tag-bitcoin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ex-Central Bank Digital Currency Head Faces Expulsion Over Crypto Corruption<\/title>\n<meta name=\"description\" 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