Shenzhen Issues Risk Warning: Beware of Illegal Institutions Using "Stablecoin" in the Name of Illegal Fundraising

According to an announcement by the Shenzhen Special Task Force Office for Preventing and Combating Illegal Financial Activities, some illegal institutions have recently been illegally absorbing funds under the guise of concepts such as "stablecoins" and "digital assets," suspected of illegal fundraising, fraud, money laundering, and other illegal activities. The authorities remind that most of these institutions have not been licensed by financial regulatory authorities, and the public should raise risk awareness and avoid being misled by high-yield propaganda. If any related illegal activities are found, they can be reported to the relevant departments. [Wu Shuo]