According to regulators in Shaoguan, virtual currency exchange, trading, and RWA tokenization are illegal financial activities, as officials highlighted four cases tied to laundering, illegal fundraising, MLM fraud, and disguised forex trading.
Regulators in Shaoguan, China issued a virtual currency risk alert that cited four illegal financial schemes involving money laundering, illegal fundraising, MLM fraud, and disguised foreign exchange trading. The notice stated that virtual currency exchange, trading, and RWA tokenization are illegal financial activities, and warned the public against schemes promising high returns with low risk. Authorities also urged residents to report suspicious activity tied to such operations.