Beijing Internet Finance Association warns against illegal fund-raising risks such as "stable currency"

The Beijing Internet Finance Industry Association issued a risk alert to alert illegal institutions and individuals to use digital currency concepts such as "stable currency" to raise funds illegally. The related activities induce public investment through false promises of high returns, fund pool operations, and other methods, which have problems such as lack of qualifications, conceptual packaging, and risk spillover. Once the funding chain breaks, investors may face huge losses. The association calls on consumers to recognize the essence, stay away from unapproved digital asset investment projects, choose legitimate financial institutions, and establish rational investment concepts.