The Central Commission of the Chinese Communist Party (CCP) expels a top provincial official after investigations suggest unlawful appointment with crypto mining activities amongst other abuses of power.

The Central Commission for Discipline Inspection (CCDI) alleged that Xiao Yi, old vice-chairman of the Chinese People'due south Political Consultative Briefing from Jiangxi province abused his land-backed administrative powers to undermine the political principle of "two maintenance," which relates to CCP's notion of firmly maintaining the authority of the party:

"[Xiao Yi] violated the new development concept, driveling power to introduce and support enterprises to appoint in virtual currency "mining" activities that do non meet the requirements of the national industrial policy."

Xiao's termination was straight related to his involvement in introducing and supporting enterprises to engage in virtual currency mining activities. In add-on, the Chinese regime establish Xiao guilty of abusing his influence to allow illegal profit-making activities including raising funds for projects and construction and accepting bribes. According to a translated version of the CCDI report:

"Xiao Yi seriously violated the political party's political subject field, organizational discipline, integrity discipline, work bailiwick, and life bailiwick, and constituted a serious task violation and was suspected of taking bribes and abusing ability."

As a consequence, Xiao Yi was expelled from his position as a Chinese regime official in addition to having his belongings and illegal income seized for review and prosecution.

Related: Huobi Group is moving to Gibraltar following People's republic of china crackdown

The latest crypto ban in China has forced the thriving crypto community — including Bitcoin (BTC) and crypto miners and exchanges — to shift to countries with crypto-friendly jurisdictions.

In a similar effort, China'south biggest in-house crypto substitution, Huobi, has also acquired new licenses in Gibraltar. As Cointelegraph reported, the Gibraltar Fiscal Services Commission authorized the Chinese exchange to begin moving its spot-trading operations to affiliate Huobi Technology (Gibraltar) Co. According to Jun Du, CEO of Huobi Group:

"The worldwide cryptocurrency sector is moving toward regulated growth. [...] The business concern must recognize the significance of adjustment its activities with the tendency."