According to WuShuo, the Economic Investigation Bureau of the Ministry of Public Security, together with the National Internet Finance Association of China, the China Banking Association, the Securities Association of China, the Asset Management Association of China, the China Futures Association, the China Association for Public Companies, and the Payment & Clearing Association of China, have jointly issued a risk warning to the public to be wary of illegal activities related to virtual currencies and real-world asset tokens (RWA). Recently, some criminals have been using virtual currency speculation, so-called “air coins” (such as Pi Coin), stablecoins, and other means to carry out illegal fundraising and pyramid schemes, seriously compromising societal property security and disrupting economic and financial order. The relevant authorities have pointed out that virtual currencies do not have legal tender status and cannot be used or circulated domestically, and have warned that stablecoins carry risks such as money laundering and fundraising fraud. Financial institutions are required to strictly regulate their operations and must not provide related services. The public is urged to enhance risk awareness and stay away from virtual currencies, real-world asset tokens, and related illegal activities.