TechFlow News: On April 15, the Shaoguan Branch of the People’s Bank of China, jointly with the General Office of the Shaoguan Municipal People’s Government, issued a risk alert regarding virtual currencies ahead of the “April 15” National Security Education Day for All Citizens. The alert highlighted four typical cases: money laundering via “high-paying USDT-for-CNY side jobs,” illegal fundraising under the guise of “principal-guaranteed, high-yield cryptocurrency trading,” pyramid scheme fraud involving an “RWA Digital Culture & Tourism Fund,” and offline “currency swapping” activities constituting disguised foreign exchange transactions.
Regulators clarified that virtual currency exchange, trading, and RWA tokenization activities are all illegal financial activities. Projects promising “high returns, low risk, and guaranteed profits” are mostly scams. The public should abandon fantasies of getting rich quickly, steer clear of virtual currency-related investments, opt for legitimate financial channels, and promptly report suspicious activities to the police to minimize losses.
