Yao Qian, a prominent figure in China’s blockchain sector and former head of China’s central bank digital currency institute, is currently under investigation by the country’s anti-graft authorities, as announced on Friday.
The anti-graft watchdog stated that Yao is “suspected of serious violations of discipline and law,” though they did not provide specific details regarding the nature of the investigation.
Presently, Yao holds the position of head of the technology regulation department at the China Securities Regulatory Commission. Earlier this month, he authored an opinion piece titled “Warnings Mount Over Novel Bitcoin ETFs That Have Taken the U.S. by Storm” for Caixin, a leading Chinese financial news outlet.
Born in 1970, Yao was appointed as the inaugural head of the central bank’s digital currency research institute in 2017. Subsequently, he transitioned from the central bank to the country’s securities regulator in 2018.
Throughout his career, Yao has been actively involved in discussions surrounding blockchain technology. In 2022, he authored a book covering various topics such as DAO, DeFi, NFTs, and X-to-earn. In the foreword of the book, he emphasized the significance of Web 3.0 innovation as a focal point of interest and value for nations globally.
