Xiao Yi, the CCP-appointed chairman and secretary of the Communist Party of China in Fuzhou province, during the ongoing judicial process bitcoin admitted to helping his miners.
Xiao Yi had to plead guilty to corruption charges brought against him in the people’s court, according to a news outlet close to the government, Xinwen Lambo, on December 29.
Xiao Yi, who was in charge of the provincial administration from 2008 to 2021, was in charge of the tenure. To BTC miners provided the opportunity to build illegally. According to the indictment, Bitcoin miners bribed $18 million (125 million Chinese Yuan) for the convenience of the secretary.
The state secretary also admitted that he actively traded Bitcoin during this process, along with his illegal deals with miners.
According to the source, the case is expected to be concluded in the next hearing after the confession. Xiao Yi could face a huge punishment.
Crypto Mining Banned In China!
The largest country in the Far East, rising energy costs and “carbon neutral” in September of 2021 in line with the target cryptocurrency completely banned mining.
Even though the government has announced massive sanctions for BTC miners, illegal activity still continues. According to Cambridge University’s BTC production index, some of the Chinese miners continue their work. This situation led to discussions that the regime itself did the mining in the country.
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