Gate News message, April 14, People’s Daily published an article titled “Disrupting the capital market—these irregularities from financial and economic media accounts need to be on alert,” which specifically criticized some accounts for using false return information such as “100x coins” and “millions earned each month from trading crypto” to funnel users to virtual-coin trading. The article cites a notice previously issued by eight departments, including the People’s Bank of China, emphasizing that activities related to virtual-coin business fall under illegal financial activities. The article points out that accounts and platforms suspected of providing referral and technical services for illegal virtual-coin trading may violate laws and regulations, and could threaten financial security and anti–money laundering work.
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