TechFlame reports that the Shenzhen Task Force Office for Preventing and Combating Illegal Financial Activities issued “Risk Reminder on Being Wary of Illegal Fund-raising Under the Name of Stablecoins, etc.” The content includes “Recently, digital currencies represented by stablecoins have received widespread attention in the market. Surveillance revealed that some illegal institutions use financial innovation, digital assets, etc. as gimmicks to absorb funds by issuing so-called virtual currencies, virtual assets, digital assets, etc., to absorb funds by issuing so-called virtual currencies, virtual assets, digital assets, etc., to induce the public to participate in transaction speculation, disrupt the economic and financial order, breed illegal and criminal activities such as illegal fund-raising, gambling, fraud, pyramid schemes, and money laundering, and seriously endanger the safety of public property. The “Regulations on the Prevention and Handling of Illegal Fund-raising” stipulate that the State prohibits any form of illegal fund-raising, and that the participants in fund-raising are responsible for losses due to participation in illegal fund-raising. The general public is invited to enhance their awareness of rational investment, not blindly trust promises, establish correct monetary concepts and investment ideas, effectively raise risk awareness, and avoid being deceived. If it is discovered that the relevant agency is engaged in illegal fund-raising activities in the name of investing in stablecoins, etc., please promptly report it to the municipal or district departments not leading departments or public security departments.”