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Local officials in Shenzhen have issued a warning About false investment capabilities associated with stable and other crypto currency.
These warnings came from a city working group that monitors illegal financial activity.
Notice explained this Some groups use the expressions of digital currencies to confuse people and assure them to invest. Many of these groups have no approval to raise money from the public and are often involved in frauds like gambling websites, false investment plans or money laundering.
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Authorities have announced that these groups use people who are not familiar with the way stable or crypto work. They use technical language and promises about one profit to gain trust.
The government noted that losses caused by these illegal operations of funds collection could not be registered. In fact, according to Chinese law, People who join such schemes may even be responsible for the money they lose.
The working group invited everyone to be careful when dealing with any group offering a crypto investment. People have asked not to believe that it sounds too good to be true and think carefully before sending any money.
The public was also asked to report any suspicious activityEspecially if someone raises funds using expressions such as “stablecoin” or “blockchain project”.
Recently, Hong Kong -Divine Department of Customs and excise duties announced plans to combat money laundering that includes cryptocurrency currency. How? Read the whole story.
After a master’s degree in economics, politics and culture of the East Asia region, Aaron wrote scientific papers by analyzing the differences between Western and collective forms of capitalism in the Era after World War II.
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