Chinese regulators reaffirm ‘severe crackdown’ on overseas telecoms dealing in crypto, blockchain
China is warning telecom companies that are based overseas not to wield “new technologies” — digital assets, blockchain , artificial intelligence (AI) and the metaverse — for nefarious purposes. According to Global Times, citing a statement from the Chinese Central Political and Legal Committee, “entities operating from outside China have been using deceptive tactics such as posing as lucrative job opportunities to recruit unsuspecting victims.” “From the perspective of fraud methods, fraud groups use blockchain , metaverse, virtual currency, AI intelligence and other new technologies and new formats to continuously update criminal tools, which are more concealed and confusing,” the committee stated. “This requires the public security, finance, telecom munications, Internet and other departments to work together, apply advanced technical means, and fulfill the responsibility of the main body of supervision.” You might also like:...