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Cryptocurrencies

18 Feb 2022

China warns Against using Metaverse as a Tool for illegal Fund-raising

The Index Today

China's banking and insurance regulator issued a warning on Friday against using the metaverse as a tool for illegal fund-raising, amid widespread speculation in the private sector, Reuters reported.

The China Banking and Insurance Regulatory Commission said in a statement published on its website that some companies were advertising engaging in illegal fund-raising, fraud, and virtual real estate speculation.

"Beware of being duped, and if you find clues of suspected illegal crimes, please actively report this to the relevant local departments," the statement mentioned.

Clay pottery with table linens