Deputy Inspector of Beijing Local Financial Supervision Administration: Someone borrowed the name of the blockchain and illegally raised funds.

According to the Beijing News, the city’s local activities were organized in the “Working Together with the Anti-Communist Financial Street in Action” organized by the Inter-Ministerial Joint Conference Office, the Beijing Municipal Bureau of Local Financial Supervision, and the Xicheng District People’s Government. Zou Shibin, deputy inspector of the Financial Supervisory Authority, said: "In the near future, some lawless elements have used the opportunity of international virtual currency price fluctuations to publicize hype. The essence of this is to use the concept of blockchain to illegally raise funds, pyramid schemes and fraud. The superposition and amplification effects of such risks should be given full attention."