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

Odaily News Beijing Daily reported that 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. Upon investigation, it was found that Yao Qian had abandoned 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 policies, the right to formulate policies, and the right to 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 Committee's eight regulations, accept Maotai liquor and other valuables and accept banquets in violation of regulations; violate organizational principles and seek benefits for others in employee recruitment; violate integrity discipline and let the supervision object pay for car rental and other expenses that should be paid by individuals, borrow large sums of money from supervision objects in violation of regulations, and invest in enterprises in violation of regulations. Illegally accepting property in extremely large amounts. Yao Qian seriously violated the party's political discipline, the spirit of the Central Committee's eight regulations, organizational discipline and integrity discipline, constituted serious violations of duty and was suspected of bribery, and did not stop after the 18th, 19th and even 20th National Congresses of the Party. The nature of his behavior is serious and the impact is bad, and he should be dealt with seriously. In accordance with the "Regulations on Disciplinary Punishment of the Communist Party of China", the "Supervision Law of the People's Republic of China", the "Administrative Punishment Law of Public Officials of the People's Republic of China" and other relevant regulations, 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; and to 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 cases to the procuratorate for review and prosecution in accordance with the law, and the relevant property will be transferred together.