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Shenzhen Financial Regulatory Authority: Beware of Illegal Fundraising by Unlawful Entities Posing as "Stablecoin"
BlockBeats News, July 7th. The Shenzhen Office of the Special Task Force for Preventing and Combating Illegal Financial Activities issued a risk warning stating that recently, digital currencies represented by stablecoins have received widespread attention in the market. Monitoring has found that some unlawful institutions, under the guise of "financial innovation" and "digital assets," take advantage of the public's lack of understanding of stablecoins to absorb funds through the issuance of so-called "virtual currency," "virtual assets," "digital assets," etc., inducing the public to participate in speculative trading, disrupting economic and financial order, fostering illegal fundraising, gambling, fraud, pyramid schemes, money laundering, and other illegal criminal activities, seriously endangering the public's property security.
The Shenzhen Office of the Special Task Force for Preventing and Combating Illegal Financial Activities reminds you: Such unlawful institutions, without the approval of the national financial regulatory authorities or in violation of national financial management regulations, do not have the qualifications to openly accept public deposits. These institutions hype up stablecoins and other new concepts, fabricate so-called investment projects of "virtual currency," "virtual assets," "digital assets," openly engage in false propaganda, and attract public funds, fostering illegal fundraising, gambling, fraud, pyramid schemes, money laundering, and other illegal criminal activities. The "Regulations on the Prevention and Treatment of Illegal Fundraising" stipulate that the state prohibits any form of illegal fundraising, and any losses incurred from participating in illegal fundraising shall be borne by the participants. The general public is urged to enhance their awareness of rational investment, not blindly trust enticing promises, establish the correct concept of money and investment, effectively raise their risk awareness, and avoid falling victim to fraud.
If any institution is found engaging in illegal fundraising activities under the guise of investing in stablecoins, please promptly report it to the lead department in the city or district or to the public security department. Relevant departments will verify the reports based on the clues and take law enforcement action, and in accordance with regulations, reward those who provided the reporting clues.
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WEEX P2P update: Country/region restrictions for ad posting
To improve ad security and matching accuracy, WEEX P2P now allows advertisers to restrict who can trade with their ads based on country or region. Advertisers can select preferred counterparty locations for a safer, smoother trading experience.
I. Overview
When publishing P2P ads, advertisers can now set the following:
Allow only counterparties from selected countries or regions to trade with your ads.
With this feature, you can:
Target specific user groups more precisely.Reduce cross-region trading risks.Improve order matching quality.
II. Applicable scenarios
The following are some common scenarios:
Restrict payment methods: Limit orders to users in your country using supported local banks or wallets.Risk control: Avoid trading with users from high-risk regions.Operational strategy: Tailor ads to specific markets.
III. How to get started
On the ad posting page, find "Trading requirements":
Select "Trade with users from selected countries or regions only".Then select the countries or regions to add to the allowlist.Use the search box to quickly find a country or region.Once your settings are complete, submit the ad to apply the restrictions.
When an advertiser enables the "Country/Region Restriction" feature, users who do not meet the criteria will be blocked when placing an order and will see the following prompt:
If you encounter this issue when placing an order as a regular user, try the following solutions.
Choose another ad: Select ads that do not restrict your country/region, or ads that allow users from your location.Show local ads only: Prioritize ads available in the same country as your identity verification.
IV. Benefits
Compared with ads without country/region restrictions, this feature provides the following improvements.
Aspect
Improvement
Trading security
Reduces abnormal orders and fraud risk
Conversion efficiency
Matches ads with more relevant users
Order completion rate
Reduces failures caused by incompatible payment methods
V. FAQ
Q1: Why are some users not able to place orders on my ad?
A1: Their country or region may not be included in your allowlist.
Q2: Can I select multiple countries or regions when setting the restriction?
A2: Yes, multiple selections are supported.
Q3: Can I edit my published ads?
A3: Yes. You can edit your ad in the "My Ads" list. Changes will take effect immediately after saving.
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WEEX P2P update: Country/region restrictions for ad posting
To improve ad security and matching accuracy, WEEX P2P now allows advertisers to restrict who can trade with their ads based on country or region. Advertisers can select preferred counterparty locations for a safer, smoother trading experience.
I. Overview
When publishing P2P ads, advertisers can now set the following:
Allow only counterparties from selected countries or regions to trade with your ads.
With this feature, you can:
Target specific user groups more precisely.Reduce cross-region trading risks.Improve order matching quality.
II. Applicable scenarios
The following are some common scenarios:
Restrict payment methods: Limit orders to users in your country using supported local banks or wallets.Risk control: Avoid trading with users from high-risk regions.Operational strategy: Tailor ads to specific markets.
III. How to get started
On the ad posting page, find "Trading requirements":
Select "Trade with users from selected countries or regions only".Then select the countries or regions to add to the allowlist.Use the search box to quickly find a country or region.Once your settings are complete, submit the ad to apply the restrictions.
When an advertiser enables the "Country/Region Restriction" feature, users who do not meet the criteria will be blocked when placing an order and will see the following prompt:
If you encounter this issue when placing an order as a regular user, try the following solutions.
Choose another ad: Select ads that do not restrict your country/region, or ads that allow users from your location.Show local ads only: Prioritize ads available in the same country as your identity verification.
IV. Benefits
Compared with ads without country/region restrictions, this feature provides the following improvements.
Aspect
Improvement
Trading security
Reduces abnormal orders and fraud risk
Conversion efficiency
Matches ads with more relevant users
Order completion rate
Reduces failures caused by incompatible payment methods
V. FAQ
Q1: Why are some users not able to place orders on my ad?
A1: Their country or region may not be included in your allowlist.
Q2: Can I select multiple countries or regions when setting the restriction?
A2: Yes, multiple selections are supported.
Q3: Can I edit my published ads?
A3: Yes. You can edit your ad in the "My Ads" list. Changes will take effect immediately after saving.
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