China’s ruling Communist Party has formally added virtual currency and blockchain to a broader anti-corruption and internal discipline campaign, according to a Central Committee decision adopted on Oct. 29 at the Fifth Plenary Session of the 20th Central Committee.
The text says authorities should “resolutely crack down on corruption” carried out through the internet, virtual currency, cross-border funds, blockchain and similar channels. It does not identify Bitcoin or any other specific cryptocurrency, and it does not discuss trading, mining or stablecoins in that passage.
Anti-corruption language in the new party decision
The decision frames the issue as part of a wider effort to tighten party discipline and pursue newer, less visible forms of misconduct. Alongside internet-based and cross-border methods, the document specifically includes virtual currency and blockchain among the tools or channels through which corruption can be conducted.
Its wording focuses on corruption activity rather than creating a new public-facing crypto policy category. The source text does not say that the party is changing rules for mainstream crypto trading or mining through this particular decision, only that it wants to target corruption involving those technologies and payment routes.
Focus on hidden and indirect misconduct
The document also calls for investigations into what it describes as new and concealed forms of corruption. These include “expected gains,” “agreed proxy holding,” the use of “white gloves,” and the revolving door between official positions and business interests.
Taken together, the language suggests an emphasis on arrangements that obscure ownership, benefits or influence. In that context, the mention of virtual currency, blockchain and cross-border funds appears alongside other methods that may complicate tracing transactions or relationships.
No named tokens, but a familiar hard line on crypto
Although the anti-corruption text does not name Bitcoin, Ether or any other token, it lands against the backdrop of China’s longstanding restrictions on the sector. The country first prohibited crypto transactions in 2013, moved against initial coin offerings and exchanges in 2017, and in 2021 declared all crypto transactions illegal while taking further action against mining.
That broader stance was reaffirmed in a related notice cited by the source article. According to that notice, virtual currency business on the mainland remains illegal financial activity. It also bars offshore yuan-pegged stablecoins and unapproved tokenization of real-world assets.
What is confirmed for now
What is clearly established is that the Central Committee has folded virtual currency and blockchain into an anti-corruption directive adopted on Oct. 29. The confirmed language is aimed at corruption conducted through those channels, together with internet-based and cross-border financial methods.
What remains unaddressed in the cited text is equally important: it does not spell out new measures for specific cryptocurrencies, and it does not provide fresh rules on mining, trading or stablecoin activity in the anti-corruption passage itself. For now, the next confirmed step is the party’s stated push to investigate and suppress these newer, harder-to-detect forms of corruption under its broader discipline campaign.
Source: www.coindesk.com