China's Communist Party targets crypto in anti-corruption campaign, orders investigators to trace graft via virtual currency and blockchain

A resolution adopted at the Fifth Plenum on October 29 orders investigators to combat corruption committed via the internet, virtual currency, cross-border capital and blockchain. The move targets officials, their families and fixers who use digital coins to hide wealth, noting that blockchains are public ledgers where every transfer stays on record. It also calls for increased Party oversight inside tech firms and crypto markets face no new penalties, as crypto trading is already banned on the mainland.