China calls for tougher crackdown on crypto bribes, corruption - Crypto News

The resolution, published by Xinhua on November 1, places virtual currencies alongside internet-based transactions, cross-border capital and blockchain as channels requiring stronger anti-corruption enforcement. The directive forms part of a larger effort to tighten discipline among party officials but does not announce new restrictions on ordinary cryptocurrency trading, which mainland Chinese authorities already prohibit under existing financial regulations.

Crypto in bribery schemes

The resolution emerged from the Fifth Plenary Session of the 20th Communist Party Central Committee, held in Beijing from October 26 to 29. Under Section VII, titled 'Taking Firm and Integrated Action against Corruption,' the party calls for investigations into misconduct involving officials, businesspeople and intermediaries who help conceal illegal payments.

Among the activities identified are delayed rewards for abusing public office, assets secretly controlled through third parties and arrangements involving agents who disguise illicit transactions as legitimate business. The document specifically calls for combating corruption conducted through virtual currencies and blockchain, extending its attention to financial methods that can move assets without relying entirely on conventional banking channels.

Cross-border corruption focus

Beyond domestic bribery, the resolution calls for closer cooperation with overseas authorities to pursue fugitives and recover assets transferred outside China. The party wants stronger investigations into cross-border corruption, including arrangements used to conceal the ownership of assets or move criminal proceeds between jurisdictions.

This follows earlier efforts by Chinese financial regulators to identify money laundering linked to cryptocurrency transactions. In June, authorities had expanded investigations into professional laundering organizations and criminal networks using unconventional payment arrangements, with the People's Bank of China noting that some digital asset transactions can complicate customer identification and the tracing of money transferred across borders.

Existing restrictions remain

China has maintained strict limits on cryptocurrency trading and related financial services for several years, with regulators reinforcing those restrictions in February 2026. Under those rules, Bitcoin, Ethereum and stablecoins such as USDT do not have the same legal status as China's sovereign currency.

Authorities prohibit businesses from providing unauthorized cryptocurrency trading services to mainland customers, including certain services offered by overseas companies. Although USDT can be used in cross-border transfers, the October resolution does not specifically name Tether, offshore trading venues or over-the-counter cryptocurrency dealers.

Past crypto bribery cases

Chinese investigators have already pursued cases involving officials accused of receiving cryptocurrency payments. In January 2026, state broadcaster CCTV examined the case of Yao Qian, a former official at the China Securities Regulatory Commission who previously led the central bank's digital currency research institute.

Investigators found that Yao received 2,000 ETH from a businessman seeking assistance with a cryptocurrency fundraising project. The report said investigators traced the Ethereum transfers and identified subsequent transactions involving cryptocurrency exchanges and bank accounts controlled through other identities.

The October resolution instructs disciplinary authorities to develop digital supervision systems and big-data platforms for monitoring the exercise of public power. It also calls for stronger coordination between disciplinary agencies and other government departments, alongside continued investigations into corrupt officials' family members, associates and intermediaries.