Today, the China Securities Regulatory Commission Beijing Supervision Bureau issued a risk alert on further preventing "virtual currency" trading activities. The text is as follows:
Risk Tips on Further Preventing "Virtual Currency" Trading Activities
Recently, with the promotion and promotion of blockchain technology, virtual currency trading activities are showing signs of resurgence in the country. Some virtual currency trading platforms provide virtual currency trading services to domestic residents. They have launched zero-interest loans, dual currency wealth management and other projects through digital currency mortgages. Serious violations of the "Announcement on Preventing the Financing Risk of Tokens" issued by the People's Bank of China and other seven ministries and commissions are suspected of engaging in illegal financial activities and disrupting the economic and financial order.
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The financial management departments, network telecommunications management departments, and public security departments within the jurisdiction continue to maintain high pressure on virtual currency transactions, ICOs and disguised ICOs, and comprehensively use on-site interviews, administrative investigations, website closures, and criminal case filing to combat them.
Here, we seriously warn institutions and personnel in Beijing that carry out related activities shall not publicize and promote relevant virtual currency projects or platforms, do not conduct virtual currency business sales or transactions, do not engage in virtual currency transactions or disguised transactions with investors, and shall not engage in or Acting on domestic and overseas virtual currency issuance and trading activities, financial institutions and non-bank payment institutions within its jurisdiction shall not provide services for any virtual currency transaction.
At the same time, investors are reminded to maintain rationality, strengthen awareness of risk prevention and identification capabilities, beware of being deceived, and report related violations of laws and regulations in a timely manner.
Beijing Municipal Financial Supervision Administration
Business Management Department of the People's Bank of China
Beijing Banking Insurance Regulatory Bureau
Beijing Securities Regulatory Bureau
December 27, 2019