Shanghai Headquarters of the People's Bank of China: Say "No" to Illegal Financial Activities Related to Virtual Currency Trading Hype

The official account of the Shanghai Headquarters of the People's Bank of China recently issued an article "Say 'No' to Illegal Financial Activities Related to Virtual Currency Transaction Hype". Business activities are illegal financial activities, and overseas virtual currency exchanges provide services to residents in my country through the Internet are also illegal financial activities; (3) There are legal risks in participating in virtual currency investment and trading activities. The article stated that virtual currency has no real value support, and its price is easily manipulated, leading to skyrocketing and plummeting. In addition, in recent years, many virtual currency exchanges have gone bankrupt and run away one after another. The high investment risk is evident, and many investors have lost their money. The characteristics of virtual currency also make it a tool for criminals to use in illegal financial activities. Investors are extremely vulnerable to being deceived, falling into the trap of fraud and illegal fundraising, and may even become accomplices of money laundering and pyramid schemes and constitute crimes. The broad masses of the people must have a correct understanding of virtual currencies, enhance their awareness of risk prevention, and achieve the "three musts" and "three don'ts". Three key points: to correctly understand the essential attributes of virtual currency and related business activities; to establish a correct investment concept; to choose investment and wealth management products from formal financial institutions. Three don’ts: Don’t organize and participate in virtual currency trading hype activities; don’t believe in high-yield, high-return promotions; don’t easily disclose personal information and transfer money.