ChainCatcher News: The website of the Central Commission for Discipline Inspection and the National Supervisory Commission of China recently published an article pointing out that the integrity risks in the construction of financial information systems are becoming increasingly prominent, especially the issues of "difficult management, difficult supervision, and difficult accountability" caused by high professional and technical barriers.During the investigation of the corruption case of Yao Qian, the former director of the Science and Technology Supervision Department of the China Securities Regulatory Commission (CSRC), the discipline inspection and supervision team stationed at the CSRC discovered that he used virtual currency for power-for-money transactions, which were highly concealed and difficult to gather evidence. Yao Qian accepted huge bribes through his position, providing assistance to others in the procurement of information systems, involving project contracting, fund allocation, and other aspects.In response to the issues exposed by the case, the discipline inspection and supervision team proposed supervision opinions to the CSRC Party Committee, urging the strengthening of integrity risk prevention and control in information system procurement, and reinforcing system construction and implementation. At the same time, it emphasized the need to strengthen the education, management, and supervision of professional and technical personnel, especially the "top leaders," to correct the erroneous thinking of some cadres who believe their integrity risks are low, and to enhance their political awareness and discipline consciousness.In November last year, Yao Qian was subjected to disciplinary review and supervisory investigation by the discipline inspection and supervision team stationed at the CSRC and the Shantou Municipal Supervisory Commission in Guangdong Province for serious violations of discipline and law. This case further highlights the importance of integrity risk prevention and control in the field of financial technology supervision.

According to ChainCatcher news, on the website of the Central Commission for Discipline Inspection and National Supervisory Commission, Yao Qian, former director of the Science and Technology Supervision Bureau of the China Securities Regulatory Commission and former director of the Information Center, has been expelled from the Party and public office due to serious violations of discipline and law. Investigations show that Yao Qian used regulatory power to seek benefits for specific technology service providers, involving money-for-power transactions related to virtual currencies, and illegally accepted huge amounts of property.In addition, he also violated the spirit of the Central Eight Provisions by improperly accepting valuable items, accepting banquets, and engaging in irregular operations in employee recruitment and investment shares. After research and decision by the Party Committee of the China Securities Regulatory Commission and relevant disciplinary inspection and supervision departments, Yao Qian has been subjected to serious penalties, and issues involving suspected criminal activities have been transferred to the procuratorial organs for legal review and prosecution.Previous report indicated that Yao Qian was suspected of serious violations of discipline and law, and had previously undergone disciplinary review by the disciplinary inspection team stationed at the China Securities Regulatory Commission and supervisory investigation by the Shantou Municipal Supervisory Committee in Guangdong Province.It is reported that Yao Qian was the first director of the Digital Currency Research Department of the People's Bank of China (CBDC) and was named one of the most influential figures in the blockchain field by Coindesk in 2017. He has published multiple research articles on blockchain technology, digital currency, and Web 3.0, and co-authored the book "Web 3.0: Changes and Challenges of the Next Generation Internet."

ChainCatcher news, according to the Discipline Inspection and Supervision Group of the Central Commission for Discipline Inspection and National Supervisory Commission stationed at the China Securities Regulatory Commission and the Guangdong Provincial Commission for Discipline Inspection and Supervision: Yao Qian, the Director of the Technology Supervision Department and the Director of the Information Center of the China Securities Regulatory Commission, is suspected of serious violations of discipline and law, and is currently undergoing disciplinary review by the Discipline Inspection and Supervision Group of the Central Commission for Discipline Inspection and National Supervisory Commission stationed at the China Securities Regulatory Commission and an investigation by the Shantou Municipal Supervisory Committee of Guangdong Province.It is reported that Yao Qian previously served as the first director of the Digital Currency (CBDC) Research Department of the People's Bank of China and was named one of the most influential figures in the blockchain field by Coindesk in 2017. He has published multiple research articles related to blockchain technology, digital currency, and Web 3.0, and co-authored the book "Web 3.0: Changes and Challenges of the Next Generation Internet."