Shenzhen officials warn of the risk of illegal institutions raising funds using the concept of digital assets

On July 7 (UTC+8), the Shenzhen Special Task Force Office for Preventing and Combating Illegal Financial Activities issued an announcement stating that recently, illegal institutions have been illegally absorbing funds by using concepts such as "stablecoins" and "digital assets," suspected of illegal fundraising, fraud, money laundering, and other illegal activities. The authorities pointed out that most of these institutions have not obtained permission from financial regulatory authorities, reminding the public to 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. (Source: Mlion.ai) [MetaEra]