According to PANews, the Shenzhen Local Financial Management Bureau issued a "Risk Warning on Virtual Currency Trading Speculation". The risk warning pointed out that some gangs use virtual currency and overseas digital options as gimmicks to induce the public to participate in trading speculation, disrupt the economic and financial order, breed gambling, illegal fundraising, fraud, pyramid schemes, money laundering and other illegal and criminal activities, and seriously endanger the property safety of the people.
In order to safeguard the legitimate rights and interests of the general public, the Shenzhen Local Financial Management Bureau reminds the general public: virtual currency does not have the same legal status as legal currency, and related business activities are illegal financial activities. Those who engage in related illegal financial activities that constitute a crime will be held criminally liable in accordance with the law.
The risk warning also pointed out that virtual currencies lack a clear value basis and are extremely susceptible to malicious speculation and price manipulation. We must strictly prevent individual illegal companies from using virtual currencies or overseas digital options as gimmicks to carry out illegal fundraising and other fraudulent activities. The general public is requested to enhance risk prevention awareness and be careful not to become victims of illegal fundraising and other fraudulent activities.
