On July 7 (UTC+8), the Shenzhen Special Task Force Office for Preventing and Combating Illegal Financial Activities issued a "Risk Alert on Guarding Against Illegal Fundraising in the Name of Stablecoins, etc." The content includes: "Recently, digital currencies represented by stablecoins have received widespread attention in the market. Monitoring has found that some illegal institutions use financial innovation, digital assets, and other gimmicks, taking advantage of the public's lack of understanding of stablecoins, etc., to absorb funds by issuing so-called virtual currencies, virtual assets, digital assets, etc., inducing the public to participate in trading and speculation, disrupting economic and financial order, and breeding illegal and criminal activities such as illegal fundraising, gambling, fraud, pyramid schemes, and money laundering, which seriously endanger the public's property safety. The 'Regulations on Preventing and Disposing of Illegal Fundraising' stipulates that the state prohibits any form of illegal fundraising, and losses suffered from participating in illegal fundraising shall be borne by the participants themselves. Please enhance your awareness of rational investment, do not blindly believe in exaggerated promises, establish correct currency concepts and investment philosophies, and effectively improve risk awareness to avoid being deceived. If you find that relevant institutions are engaged in illegal fundraising activities in the name of investing in stablecoins, please report them to the city or district-level departments in charge of handling illegal activities or the public security department in a timely manner." (Source: Bitpush) [Meta Era]