Shenzhen... Why does it seem like a scam city? Whenever it comes to capital schemes, it's Shenzhen??????

Shenzhen warns against illegal institutions using stablecoins for illicit activities

According to TechFlow, there has been recent attention on digital currencies represented by stablecoins. Some illegal institutions exploit the public's lack of understanding of stablecoins by issuing 'virtual currencies' and other means to attract funds, inducing trading speculation, disrupting economic order, and fostering illegal fundraising, gambling, and fraud activities.

The Shenzhen Task Force Office for Preventing and Combating Illegal Financial Activities advises: Such institutions are not authorized by national financial management authorities and do not have the qualifications to accept public deposits. They engage in speculation using concepts like stablecoins, fabricate investment projects, and publicly promote false information, leading to illegal criminal activities. $BTC