Yao Qian, former director of the Technology Supervision Department and former director of the Information Center of the China Securities Regulatory Commission, was expelled and removed from public office due to serious disciplinary and legal issues in the field of virtual currency.
Yao Qian was expelled for serious misconduct related to virtual currency.
According to information released by the Central Committee, Yao Qian used his supervisory power to seek improper benefits for certain technical trading service providers, and such behavior is actually associated with power-for-money transactions, also involving virtual currency transactions.
Also according to the Central Committee, Yao Qian abused his regulatory authority, seeking improper benefits for certain service providers in technical trading activities. His actions are closely linked to power-for-money transactions, which also encompass content related to virtual currency.
Further investigation revealed that Yao not only illegally accepted large sums of cash but also received numerous valuable gifts, which seriously violated the spirit of the Central Eight Regulations. In addition to financial violations, Yao also engaged in irregular practices in employee recruitment, investment, shareholding, and other areas.
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The investigation revealed that Yao Qian participated in virtual currency trading activities resembling 'power-for-money transactions'.
The Party Committee of the China Securities Regulatory Commission, along with the disciplinary inspection and supervision departments, has launched a serious investigation into the illegal and rule-breaking behaviors of Comrade Yao Qian, imposing strict measures based on the nature of his actions, and his suspected criminal activities have been transferred to the prosecutorial authorities for review and prosecution.
This incident fully demonstrates that the anti-corruption struggle of China's public institutions is continuously advancing, especially against officials holding important positions in the national financial market. The resignation of senior officials due to illegal and disciplinary issues also reflects the Chinese government's firm determination to introduce transparency and accountability into the financial regulatory structure.
The content of this article is for reference only and does not constitute investment advice.