Former Beijing Financial Official Sentenced To 11 Years For Bitcoin Money Laundering

According to Foresight News, former Deputy Director of the Beijing Local Financial Supervision and Administration Bureau, Hao Gang, has been sentenced to 11 years in prison. Hao was involved in Bitcoin money laundering and allegedly assisted a senior executive of a leading Bitcoin mining company in lifting travel restrictions. The amount of bribes he received is reported to be in the tens of millions of yuan. Hao previously served as the Director of the Financial Risk Management Department at the Beijing Financial Bureau. In August 2019, he became a member of the bureau's party committee and deputy director, overseeing risk management until April 2023, when he was investigated for serious disciplinary and legal violations.