China warns investors about crypto scams
A local regulator has spoken out about illegal crypto schemes through online platforms such as WeChat
20.02.2024 - 12:45
268
2 min
0
What’s new? Authorities in China have urged investors to be wary of “illegal fundraising activities” disguised as lucrative investment opportunities related to cryptocurrencies and the metaverse. In a joint statement, Dalian’s securities regulator and six other authorities said the attackers were luring investors through online platforms such as WeChat groups to download illegal apps and buy illegal digital assets. Such activities could lead to illegal fundraising, fraud, and other criminal activities, authorities said.
Statement from the authorities
What else is known? The public warning from Dalian authorities follows a series of notices from the country’s regulators, including the People’s Bank of China, detailing the illegal nature of token issuance, funding, and trading.
In September 2021, central authorities issued a notice banning any cryptocurrency trading activities on the mainland. According to the document, services provided by foreign crypto exchanges to Chinese residents on the mainland are considered illegal financial activities.
At the same time, at the end of 2023, it became known that the Chinese authorities intend to accelerate the introduction of blockchain technologies, despite the ban on cryptocurrencies in the country. Thus, the Ministry of Industry and Information Technology is forming a roadmap for the development of the Web 3.0 sector, which involves stimulating developments in the areas of NFTs and DApps.
Chinese authorities to launch blockchain-based identification system
A decentralized identifier system will be developed by the Ministry of Public Security
Useful material?
Telegram 
Twitter Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$99 042
BTC
+2.44%
-
Ethereum
$3 368.84
ETH
+8.51%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.39
XRP
+26.25%
-
Dogecoin
$0.395257
DOGE
+4.06%
-
Cardano
$0.872217
ADA
+11.27%
-
Bitcoin Cash
$492.86
BCH
+6.83%
-
Polkadot
$6.17
DOT
+9.55%
-
Stellar XLM
$0.285415
XLM
+19.23%
-
Litecoin
$90.2
LTC
+6.32%