Chinese ‘Crypto Dad’ Yao Qian Under Investigation
The Central Committee of the Communist Party of China is reportedly investigating Yao on suspicion of "serious violations" of the law and discipline, according to a report published in the Shanghai Securities News on April 26. The exact reason for the investigation remains a secret
The Central Committee of the Communist Party of China is reportedly investigating Yao on suspicion of "serious violations" of the law and discipline, according to a report published in the Shanghai Securities News on April 26. The exact reason for the investigation remains a secret.
Yao, currently the director of the Science and Technology Supervision Bureau at the China Securities Regulatory Commission, is a well-known figure in the Chinese blockchain scene.
The People's Bank of China (PBoC) appointed him as the inaugural director of the central bank digital currency (CBDC) research department in 2017. He is also known as China's "Crypto Dad" and held this position from 2017 to 2018.
Yao continued to be involved in conversations and research related to digital currencies even after leaving the PBoC's active CBDC development.
