Officials said that fraudsters abuse the insufficient financial literacy of the residents of the PRC in order to lift into financial pyramids and similar schemes.
“Fraudulent structures are increasingly using new concepts, such as stablecoins, to promote the so -called investment projects related to supposedly profitable virtual assets,” the department said from Shenzhen.
“Investment projects” turn out to be pyramids, gambling or schemes for laundering and theft of money, the agency said. According to officials, the victims of the actions of attackers cannot count on the help of the state, as they themselves must be responsible for their actions.
In the department, investors were recommended to carefully check the new projects they offer and take into account the risks of investing in virtual assets.
Reuters previously reported that the Chinese technological companies JD.com and Ant Group submitted applications and held the first round of negotiations with the National Bank of China (NBK) on the rules for the issue and appeal of stablecoins tied to Yuan.
Source: Bits
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