Multiple regions issue risk warnings to prevent scams disguised as "stablecoins"

Since July, financial management departments and industry self regulatory organizations in many places have successively issued risk warning notices, indicating that with the rise of the concept of stablecoins, some illegal activities carried out by criminals using stablecoins as a gimmick have emerged, and their potential risks deserve high vigilance. Financial management departments and industry self regulatory organizations in multiple regions remind consumers to verify the legal qualifications of relevant institutions and products through official channels of the national financial management department before investing and managing their finances, and to choose licensed and legitimate financial institutions; Fully understand the high complexity and volatility of digital currencies such as "stablecoins" and related innovative concepts, establish correct monetary concepts and rational investment concepts; Consciously resist and stay away from any form of virtual currency speculation, illegal token issuance, and unauthorized "digital asset" investment projects, and effectively protect personal property security. (Economic Daily)