TechFlow, July 7 — According to Jinshi Data, recently digital currencies represented by stablecoins have attracted widespread market attention. Monitoring has revealed that some illegal institutions are using buzzwords such as "financial innovation" and "digital assets" to exploit the public's limited understanding of stablecoins. These entities issue so-called "virtual currencies," "virtual assets," or "digital assets" to raise funds,诱导ing the public into trading and speculation, disrupting economic and financial order, and breeding illegal activities such as illegal fundraising, gambling, fraud, pyramid schemes, and money laundering, seriously endangering the public's property security.
The Shenzhen Task Force Office for Preventing and Combating Illegal Financial Activities warns: Such illegal institutions operate without legal approval from national financial regulators or in violation of national financial regulations, and are not authorized to publicly absorb public deposits. These organizations exploit new concepts like stablecoins to hype up fictitious investment projects such as "virtual currency," "virtual asset," or "digital asset," conduct public false advertising, raise public funds, and foster illegal activities including illegal fundraising, gambling, fraud, pyramid schemes, and money laundering.
