Shenzhen: Risk Alert Regarding Illegal Fundraising in the Name of Stablecoins, etc.

The Shenzhen Special Task Force Office for Preventing and Combating Illegal Financial Activities issued a "Risk Alert on Guarding Against Illegal Fundraising in the Name of Stablecoins, etc." The content includes: "Recently, digital currencies represented by stablecoins have received widespread attention in the market. Monitoring has revealed that some illegal institutions, under the guise of financial innovation and digital assets, are taking advantage of the public's lack of understanding of stablecoins to absorb funds by issuing so-called virtual currencies, virtual assets, and digital assets, inducing the public to participate in trading and speculation, disrupting economic and financial order, and breeding illegal and criminal activities such as illegal fundraising, gambling, fraud, pyramid schemes, and money laundering, which seriously endanger the safety of the public's property. [Foresight News]