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<p><em><strong>Authorities in Dalian, a city in China’s Liaoning province, issued a warning to investors about fraudulent schemes posing as crypto or metaverse investment opportunities.</strong></em></p><h2 id="header-0">Cryptos Headlines Token Airdrop Is Live, Claim $50 Worth Of 5000 CHT Token Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Screenshot_5.png?fit&#61;1276%2C681&amp;ssl&#61;1" /></p><p>The notice, released by Chinese financial regulators and local police, cautions investors to be cautious of “illegal fundraising activities” that promise high returns through cryptocurrency and metaverse investments. This alert comes as China intensifies its efforts to combat crypto-related fraud following a <a href="https://cryptosheadlines.com/central-bank-of-nigeria-reverses-ban-on-cryptocurrency-trading/" rel="noopener noreferrer nofollow">ban on cryptocurrency trading</a>.</p><h3 id="authorities-in-dalian-warn-public-about-cryptocurrency-scams">Authorities in Dalian Warn Public About Cryptocurrency Scams</h3><p>In a coordinated effort, authorities in Dalian, along with six other regulatory bodies, issued a <strong>joint notice</strong> to caution the public about fraudulent activities in the cryptocurrency space. These scams, orchestrated by “unscrupulous individuals,” typically operate through online platforms such as WeChat groups. They lure investors into downloading illegal apps and investing in illegitimate cryptocurrencies, posing risks of suspected illegal fundraising, fraud, and other criminal activities, as outlined by the authorities.</p><p>This public warning from Dalian’s authorities comes in the wake of several previous notices from China’s <a href="https://cryptosheadlines.com/21-us-regulatory-bodies-rally-against-crypto-bill/" rel="noopener noreferrer nofollow">regulatory bodies</a>, including the People’s Bank of China. These notices have emphasized the illegal nature of token issuance, financing, and trading, reflecting the ongoing efforts to combat fraudulent practices within the cryptocurrency market.</p><h3 id="china-and-hong-kong-s-stance-on-cryptocurrency">China and Hong Kong’s Stance on Cryptocurrency</h3><p>In September 2021, the People’s Bank of China (PBOC), along with the <a href="https://cryptosheadlines.com/us-supreme-court-to-review-legality-of-secs-in-house-enforcement-amid-crypto-dispute/" rel="noopener noreferrer nofollow">Supreme People’s Court</a> and other central authorities, issued a notice imposing a ban on all cryptocurrency trading activities within mainland China. The ban explicitly <a href="https://cryptosheadlines.com/gemini-a-cryptocurrency-exchange-is-set-to-introduce-a-derivatives-platform-in-international-markets-outside-of-the-united-states/" rel="noopener noreferrer nofollow">stated that services offered by overseas cryptocurrency exchanges</a> to Chinese residents on the mainland are deemed illegal financial activities.</p><p><a href="https://cryptosheadlines.com/bitcoin-etfs-receive-big-investments-could-bitcoins-price-reach-60000/" rel="noopener noreferrer nofollow">Also Read:   Bitcoin ETFs Receive Big Investments: Could Bitcoin&#39;s Price Reach $60000?</a></p><p>In contrast to mainland China’s stringent crackdown on cryptocurrency trading and mining, Hong Kong adopted a more welcoming stance toward crypto-related firms in the same period. In June 2023, <a href="https://cryptosheadlines.com/okx-launches-updated-app-for-virtual-asset-spot-trading-in-hong-kong/" rel="noopener noreferrer nofollow">Hong Kong officially launched its cryptocurrency licensing framework for virtual asset </a>trading platforms, permitting licensed exchanges to provide retail trading services. Notably, <a href="https://cryptosheadlines.com/bitget-launches-new-platform-for-users-in-hong-kong/" rel="noopener noreferrer nofollow">Hong Kong</a> has granted licenses to two platforms—HashKey and OSL—to operate within its regulatory framework.</p><h2 id="header-1">Cryptos Headlines Token Airdrop Is Live, Claim $50 Worth Of 5000 CHT Token Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Screenshot_5.png?fit&#61;1276%2C681&amp;ssl&#61;1" /></p><p><em><strong>Important:</strong> Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.</em></p>

Chinese Authorities Warn Public About Crypto Scams amid Crackdown

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