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China Bars State-Owned Enterprise Executives From Accepting Virtual Currency Gifts

New integrity rules in Article 7, issued by the General Office of the CPC Central Committee and the State Council, prohibit state-owned enterprise executives from taking gifts, cash, securities, or virtual currency for personal gain.

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Terms & Concepts
  • Virtual currency: A digital form of value used online, including cryptocurrencies, that can be transferred electronically.
  • State-owned enterprise: A company owned or controlled by the government, often operating in strategic sectors of the economy.