Former official of the China Securities Regulatory Commission and former head of the digital RMB project "Yao Qian" is under investigation by the anti-corruption department.

According to a news flash from the Shanghai Securities News, Yao Qian, Director of the Technology Supervision Department and 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 Central Commission for Discipline Inspection and Supervision of the Shantou Municipal Supervision Commission in Guangdong Province.

According to a brief report by Shanghai Securities News, Yao Qian, Director of the Technology Supervision Department and Director of the Information Center of the China Securities Regulatory Commission, is suspected of serious violations of discipline and law. He is currently undergoing disciplinary review by the Central Commission for Discipline Inspection and Supervision and investigation by the Supervisory Commission of Shanwei City, Guangdong Province.

Reports by CoinDesk and The Block have also cited this source for their coverage. However, the specific details of the allegations against Yao Qian are still unclear. He was the former leader of China's digital yuan project.

Yao Qian, born in 1970, was appointed as the first director of the Digital Currency Research Institute of the People's Bank of China in 2017. He has emphasized that the international monetary system is an excellent application scenario for blockchain technology.

【Observation】Foreigners in Beijing Unbox Digital RMB Wallet, Sharing Four Highlights of DCEP