$PI According to news from the National Internet Finance Association of China on December 5, the National Internet Finance Association of China, the China Banking Association, the Securities Association of China, the Asset Management Association of China, the China Futures Association, the China Association for Public Companies, and the Payment & Clearing Association of China jointly issued the “Risk Warning on Preventing Illegal Activities Involving Virtual Currencies and Other Related Activities.”

Recently, concepts related to virtual currencies have rapidly gained traction, and some criminals have taken the opportunity to hype up related trading and speculation activities, engaging in illegal fundraising, pyramid schemes, and fraud under the guise of stablecoins, air coins (such as Pi Coin), Real World Asset (RWA) tokens, and “mining.” They also use virtual currencies to transfer illicit gains from illegal activities, which has seriously harmed the property safety of the general public and disrupted the normal economic and financial order.