Yao Qian, former director of the Science and Technology Supervision Department of the China Securities Regulatory Commission, was expelled from the party and removed from office for allegedly using virtual currency to trade power for money

According to the Central Commission for Discipline Inspection and the National Supervisory Commission’s Discipline Inspection and Supervision Group stationed at the China Securities Regulatory Commission and the Guangdong Provincial Commission for Discipline Inspection and Supervision: Recently, with the approval of the Central Commission for Discipline Inspection and the National Supervisory Commission, the Central Commission for Discipline Inspection and the National Supervisory Commission’s Discipline Inspection and Supervision Group stationed at the China Securities Regulatory Commission and the Shanwei Municipal Supervisory Commission of Guangdong Province conducted a disciplinary review and supervision investigation on the serious violations of discipline and law by Yao Qian, former director of the Science and Technology Supervision Department of the China Securities Regulatory Commission and former director of the Information Center. After investigation, it was found that Yao Qian betrayed his original mission, was not political, coveted fame, regarded himself as a financial technology expert, spared no effort to support specific technology service providers for his own selfish interests, and was willing to be the "key training target" of the hunters. He abused the regulatory powers such as the right to recommend, formulate, and execute policies, abandoned the responsibilities of science and technology supervision, sought improper benefits for others in the expansion of business and software and hardware procurement of information technology system service institutions, and used virtual currency to trade power for money. Engage in superstitious activities; ignore the spirit of the Central Eight Regulations, accept Maotai and other valuables and accept banquets in violation of regulations; violate organizational principles and seek benefits for others in employee recruitment; violate integrity discipline, hand over car rental and other expenses that should be paid by individuals to the supervision object, borrow large sums of money from the supervision object in violation of regulations, and invest in enterprises in violation of regulations. Illegally accepting property in extremely large amounts. After research by the Party Committee of the China Securities Regulatory Commission, it was decided to expel Yao Qian from the Party; after research by the Discipline Inspection and Supervision Group of the Central Commission for Discipline Inspection and the National Supervisory Commission stationed in the China Securities Regulatory Commission, it was decided to expel Yao Qian from public office; confiscate his illegal gains; after research by the Shanwei Municipal Supervisory Committee of Guangdong Province, it was decided to transfer Yao Qian's suspected criminal issues to the procuratorate for review and prosecution in accordance with the law, and transfer the property involved together.