Beijing launches special crackdown on suspected illegal fundraising under the guise of blockchain and virtual currency

On June 13, Beijing’s 2019 “Join Hands to Build a Network and Jointly Prevent and Govern” anti-illegal fund-raising publicity month concentrated education activity was held at Wanda Plaza in Shijingshan District.

At the event, leaders from the Inter-ministerial Joint Conference Office for Dealing with Illegal Fund Raising, the Municipal Financial Regulatory Bureau, and the Shijingshan District Government delivered speeches, announced the official start of the event, and publicly broadcast the public service advertisement "Knowing" for preventing illegal fund raising for the first time. In the subsequent financial security publicity activities, staff from the Business Management Department of the People's Bank of China, the Beijing Banking and Insurance Regulatory Bureau, the Municipal Financial Regulatory Bureau, the Shijingshan District Financial Office, the Beijing Bingzheng Center, and many volunteers from banking and financial institutions thoroughly publicized and popularized the laws, regulations, and policies related to preventing illegal fund raising to hundreds of people who participated in the event, and introduced the main characteristics, manifestations, common methods, and social harm of illegal fund raising to the general public through singing and dancing performances, stage plays, and policy interpretation.

It is understood that in recent times, illegal fund-raising activities have shown the characteristics of "going online and across domains", and cases in the field of Internet financial platforms have occurred frequently. Some lawless elements have carried out illegal fund-raising activities under the banner of " blockchain ", " virtual currency " and "housing for the elderly", which has greatly damaged the interests of the people. The Beijing Municipal Party Committee and Municipal Government attach great importance to the prevention and crackdown on illegal fund-raising, and have launched a special rectification campaign suspected of illegal fund-raising in the city, with "zero tolerance" for illegal fund-raising. The Municipal Financial Supervision Bureau, the Business Management Department of the People's Bank of China, the Beijing Banking and Insurance Regulatory Bureau and other departments have moved the threshold of financial risk prevention forward, cracked down on illegal and criminal activities such as illegal fund-raising in accordance with the law, governed financial chaos, purified the financial environment, and provided more and better financial services for the people.

It is reported that in the next stage, Beijing will promote the "jointly build a network and jointly prevent and control" publicity activities to prevent illegal fundraising in all directions and from multiple angles, "into government agencies, enterprises, schools, communities, villages, and families", explore publicity forms that are close to the lives of the people and are popular with them, and focus on explaining relevant knowledge such as preventing illegal fundraising and eliminating gangsters, so as to comprehensively improve the people's ability to identify illegal financial activities and risk prevention awareness. (Beijing Youth Daily)