Many places have issued risk warnings to prevent scams under the guise of "stablecoins"
Internet reports that since July, financial management departments and industry self-regulatory organizations in many places have successively issued risk warning announcements, reminding that with the heating of the concept of stablecoins, some lawless elements use stablecoins as a gimmick to carry out illegal activities, and their potential risks deserve high vigilance. Financial management departments and industry self-regulatory organizations in many places have reminded consumers that before investing and financial management, they must verify the legal qualifications of relevant institutions and products through official channels of the national financial management department, and select licensed formal financial institutions; fully understand the high complexity and volatility of "stablecoins", etc. Digital currency and related innovative concepts, establish correct monetary concepts and rational investment concepts; Consciously resist and stay away from any form of virtual currency hype, illegal token issuance and unauthorized "digital asset" investment projects, and effectively protect the safety of personal property. (Economic Daily)
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