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The Financial Committee of the Henan Provincial Party Committee has issued a risk warning, advising the public to be vigilant against illegal fundraising activities disguised as stablecoin investments. Some unscrupulous entities, leveraging the buzzwords of "financial innovation" and "digital assets," are issuing so-called "virtual currencies" to solicit funds and entice the public into speculative activities. These actions can potentially lead to illegal fundraising, fraud, and money laundering. Authorities have emphasized that such activities are illegal without the authorization of national financial regulatory bodies and that the associated risks are solely borne by the participants. The public is strongly urged to heighten their risk awareness, invest rationally, and promptly report any illegal activities they encounter.
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