Search Results for: Jiangxi

Chinese Courts Deploy Blockchain-Powered Electronic Door Seals for Enhanced Property Security

Chinese courts are adopting blockchain-based door seals that will optimize property security by enabling real-time video surveillance and sophisticated alarm systems. This move is intended to eradicate the conventional paper seals, which are not tamper-proof. Setting the ball rolling The Executive Bureau of the People’s Court in Beijing, China, set a precedent by using a … Continue reading Chinese Courts Deploy Blockchain-Powered Electronic Door Seals for Enhanced Property Security

Shanghai High Court Pilots Blockchain Technology to Record Hearings for Court Reform

Shanghai’s high court has started using blockchain technology to record hearings as part of its court record reform pilot. During the meeting on the reform of court records, participants took part in observing the whole process of the court trial of a dispute over the equity transfer contract heard by the Shanghai Minhang District People’s … Continue reading Shanghai High Court Pilots Blockchain Technology to Record Hearings for Court Reform

China's CCP Official Expelled for Violation Crypto Mining Ban Provisions

A former member of the CPPCC (Chinese People’s Political Consultative Conference) got fired by touching Beijing’s nerve. Xiao Yi, a former advisory member of CCP has been expelled from the party in what appears to be the first full-blown sanction of an official that violated Beijing’s stance against cryptocurrency mining. Per the translated version of the Central … Continue reading China's CCP Official Expelled for Violation Crypto Mining Ban Provisions

Chinese Authorities Crack Down on 54.8 Million USDT Money Laundering Scheme

On July 18, 2023, Chinese authorities in Qingshui County, Jincheng City, Shanxi Province successfully cracked a money laundering case involving the use of the cryptocurrency Tether (USDT). The operation led to the arrest of 21 suspects, the seizure of over 40 mobile phones, and the confiscation of cash and USDT worth over 1 million yuan. … Continue reading Chinese Authorities Crack Down on 54.8 Million USDT Money Laundering Scheme

Xiao Yi: Mastermind Behind 2021's Biggest Bitcoin Crash Receives Life Sentence

On August 22, 2023, the Intermediate People’s Court of Hangzhou, Zhejiang Province, China, publicly pronounced the verdict on Xiao Yi, a former member of the Jiangxi Provincial Political Consultative Conference (CPPCC) and its vice chairman, for bribery and abuse of power. Xiao Yi was sentenced to life imprisonment for bribery, deprived of political rights for … Continue reading Xiao Yi: Mastermind Behind 2021's Biggest Bitcoin Crash Receives Life Sentence

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