The risks of digital currencies are highlighted against the backdrop of market attention
AI Summary
According to Odaily, digital currencies, particularly stablecoins, have recently attracted significant market attention. Monitoring has revealed that certain illegal organizations exploit the limited understanding of stablecoins and other digital assets among the population. These structures promote 'financial innovations' and 'digital assets' as a cover to raise funds through the issuance of so-called 'virtual currencies' and 'virtual assets.' This practice encourages public participation in speculative trading, which disrupts the economic and financial order and facilitates illegal activities such as fundraising, gambling, fraud, pyramid schemes, and money laundering, which seriously threatens the security of public property.
The Shenzhen Office for the Prevention and Control of Illegal Financial Activities warns that these organizations operate without legal permission from national financial authorities or in violation of national financial regulations. They lack qualifications for publicly accepting deposits from the population. Using new concepts such as stablecoins, these structures concoct investment projects related to 'virtual currencies,' 'virtual assets,' and 'digital assets,' engage in false advertising, and attract public funds, leading to illegal activities such as fundraising, gambling, fraud, pyramid schemes, and money laundering.