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Ethereum
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BNB
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$624.40 3.94754
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Solana
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$161.35 9.52339
Solana price
XRP
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$2.31 8.29831
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Shiba Inu
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Pepe
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Bonk
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Ethereum
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BNB
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BNB price
Solana
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$161.35 9.52339
Solana price
XRP
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$2.31 8.29831
XRP price
Shiba Inu
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$0.0000143 12.23105
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Pepe
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$0.0000112 35.16543
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Bonk
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dogwifhat
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Bitcoin
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$103,124.00 6.06875
Bitcoin price
Ethereum
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$2,185.99 21.1847
Ethereum price
BNB
BNB (BNB)
$624.40 3.94754
BNB price
Solana
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$161.35 9.52339
Solana price
XRP
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$2.31 8.29831
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000143 12.23105
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000112 35.16543
Pepe price
Bonk
Bonk (BONK)
$0.0000198 18.04203
Bonk price
dogwifhat
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$0.688417 22.34794
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Popcat
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$0.490049 9.38666
Popcat price

China sentences former party official to life in prison for enabling crypto mining

Yana Khlebnikova
Edited by
News
China sentences former party official to life in prison for enabling crypto mining

The Hangzhou Intermediate People’s Court has convicted a former Chinese party official, Xiao Yi, for abuse of power and bribery.

Xiao Yi has received a life imprisonment sentence. Officials clarified that he misused his authority to support the growth of Bitcoin mining by facilitating financial support and power supply arrangements.

An Aug. 22 report reveals that the offender accepted bribes totaling almost $17.4 million.

The report noted that the bribery charges were categorized as notably substantial, while the abuse of power charges were deemed exceptionally serious.

In September 2017, the Chinese authorities banned Bitcoin trading and other cryptocurrencies.

In 2019, the National Development and Reform Commission (NDRC) classified crypto mining as undesirable due to its negative impact on the environment.

Later on, in 2021, China’s state council announced that crypto mining was banned and classified as an illegal activity.