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China calls for tougher crackdown on crypto bribes, corruption

By Olivia Stephanie

China's Communist Party calls for tougher action against corruption involving cryptocurrencies, blockchain and cross-border funds, without a new trading ban.

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Cryptocurrency

A digital currency secured by cryptography and recorded on a blockchain, without a central bank issuing it.

Crypto prices are volatile, and governments are still deciding how to regulate it.

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Blockchain

A shared digital ledger in which records are grouped into blocks and linked so that past entries are very hard to change.

It underpins cryptocurrencies and is tested for payments, supply tracking and record keeping.

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