China’s Banking and Insurance Regulatory Commission (CBIRC) has issued a warning about illegal investment risks to the metaverse.
On February 18, the CBIRC issued a warning to prevent the risk of fraud and illegal fundraising promoted using the term “metaworld”.
“Some illegal elements have used terms such as ‘metaverse investment project’ and ‘metaverse chain tours’ to raise funds, which includes illegal criminal activity, including illegal fundraising and fraud,” the CBIRC said in a statement.
“We ask that the public raise awareness about risk prevention and discrimination, carefully prevent fraud and actively report any suspicion of criminal activity to local authorities.”
https://www.chinabankingnews.com/2022/02/19/chinas-banking-regulator-warns-of-metaverse-investment-peril/ China’s banking regulator warns of danger to invest in Metaverse