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Reuters
China warns against using metaverse as a tool for illegal fund-raising
BEIJING (Reuters) -China’s banking and insurance regulator issued a warning on Friday against using the metaverse as a tool for illegal fund-raising, amid widespread interest in the country’s private sector. The China Banking and Insurance Regulatory Commission said in a statement published on its website that some companies were engaging in illegal fund-raising, fraud, and virtual real estate speculation. Investors，entrepreneurs, and established Chinese tech giants have piled into the country’s “metaverse”, described as a virtual shared space that blurs the boundaries between the online and offline worlds.
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