China Party Targets Crypto-Linked Corruption

China’s Communist Party has called for tougher action against corruption involving virtual currencies, blockchain, internet activity and cross-border funds, while directing disciplinary bodies to expand digital monitoring and Party oversight of technology companies. The resolution was adopted October 29 at the Fifth Plenary Session of the 20th Central Committee. Xinhua published its full text on November 1. It frames digital assets and related financial channels as possible means of concealing bribes or transferring illicit wealth, and calls for stronger investigations and international cooperation to pursue fugitives and recover assets held abroad. The document also calls for digital discipline-inspection and big-data supervision platforms to help monitor the exercise of public power. It directs the Party to strengthen oversight across technology companies, internet platforms and emerging digital industries. The text describes policy priorities, but does not set out specific implementation steps or identify new enforcement cases. The resolution does not announce a new cryptocurrency trading ban. Existing restrictions on cryptocurrency trading and related services remain in...