Chinese CBDC Founder Yao Qian Under Investigation Over ICO and ETH Bribery Cases

Yao Qian, the founder of China's central bank digital currency (CBDC) project and a figure who was listed among CoinDesk's Top 10 Most Influential People in 2017, is currently under investigation by the Chinese government. He is accused of assisting in the listing of an initial coin offering (ICO) in 2018 that raised approximately 20,000 ETH, and is suspected of accepting a bribe of 2,000 ETH.

According to circulating information, this case relates to activities during the early days of the global ICO boom, when regulatory oversight of token issuance was relatively lax. The Chinese government considers Yao Qian's involvement in the process a serious violation, given his strategic position in the development of the country's digital financial infrastructure.

The investigation also revealed that Yao Qian allegedly sold some of his ETH holdings in 2021, when the price of Ethereum was around $4,000. Details regarding the amount of ETH sold and the timing of the transaction are still under investigation.

This case has attracted widespread attention because Yao Qian is known as one of the key architects behind the development of the digital yuan, China's central bank digital currency project, which is one of the world's most advanced CBDCs. Allegations of involvement in ICO activities and accepting crypto bribes are considered contrary to this role and China's strict policies on private cryptocurrencies.

To date, Chinese authorities have not released an official statement regarding Yao Qian's legal status or potential sanctions. Developments in this case are being closely monitored by market participants and policy observers, given its implications for governance narratives, official integrity, and the direction of digital asset policy in China.

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Видео Chinese CBDC Founder Yao Qian Under Investigation Over ICO and ETH Bribery Cases канала Alpa Omega News