The Beijing Court ordered Hao Gang, former deputy director of Beijing’s financial office, 11 years in prison. Gang is accused of bribery and money laundering related to bitcoin.

The sentence marks another important step in the repression of China to the financial conduct linked to cryptocurrency.

China combat corruption linked to bitcoin

O court Supposedly the verdict on Thursday, February 6, after a two-year investigation into gang activities. Researchers found, for example, that he accepted millions of yuans in bribes to help Bitcoin mining companies facing regulatory challenges.

Local reports also indicate that Hao has helped a senior executive from a large mining company to escape travel restrictions in exchange for illicit payments.

The court initially applied separate judgments – years per bribery and four for money laundering – but then unified them in a 11 -year prison sentence. In addition to the prison time, Gang received a RMB fine 1.3 million ($ 164,662).

The authorities also confiscated the illegally obtained gains, redirecting them to the State Treasury.

China keeps hard posture against bitcoin and digital assets

Hao Gang played an important role in Beijing’s financial sector before the investigation began on his activities. His conviction reflects China’s rigorous posture against Bitcoin’s financial misconduct. The sentence also signals continuous repression of corruption within the sector.

This case follows a similar high profile sentence. Last year, Chinese authorities condemned a government official to life imprisonment for selling confidential information to a foreign intelligence agency. The individual, allegedly sunk in default investment debts, resorted to espionage in exchange for digital assets.

Over the years, Chinese regulators have reinforced the restrictions to contain illegal crypto transactions, aligning with the government’s longstanding posture against speculative investments in digital currencies.

Asian giant adopts inconsistent measures

However, China’s approach to cryptocurrency regulation remains inconsistent. While a decision has classified the crypto trade as a gambling, a previous decision of the Higher Court recognized digital assets as legal property.

This contradiction reflects the government’s struggle to maintain financial stability while adapting to the transformation digital economy.