As reported by Global Times, the Chinese Central Political and Legal Committee has stated that entities operating outside of China are employing deceptive tactics, including disguising themselves as attractive job opportunities, in order to deceive and recruit individuals unknowingly.
Concerned about fraud organizations’ use of cutting-edge technologies like blockchain, metaverse, virtual currencies, and AI, the Chinese Central Political and Legal Committee has emphasized the importance of cooperation between the departments of public security, finance, telecommunications, the Internet, and other areas in order to stop these illegal activities.
The committee wants to step up efforts to stop illicit behavior by foreign businesses, raise public awareness, and strengthen the judicial system. The Intermediate People’s Court of Xuzhou is said to have concentrated on 52 telecom network fraud cases, leading to the sentencing of 85 convicts, despite the fact that it did not name specific businesses or organizations.
Hong Kong just permitted retail investors to purchase bitcoin, indicating a possible reopening of crypto trading. It is interesting that this news comes with a probable shift in China’s stance on cryptocurrencies. Major cryptocurrency-related websites were blocked in China in 2017 as a result of the country’s previous ban on cryptocurrency mining and trade. This had a significant impact on the industry.
#Cryptocurrency #China #Blockchain
