Beijing: Be wary of using new concepts such as "stablecoins" for illegal fund-raising "
According to online reports, the Beijing City Internet Finance Industry Association issued a warning on the risk of using new concepts such as "stablecoins" for illegal fund-raising: Recently, various digital currencies and related concepts represented by "stablecoins" have attracted market attention. Some illegal institutions and individuals have used gimmicks such as "financial innovation","blockchain technology","digital economy" and "digital assets" to take advantage of the fact that the public has not yet had a deep understanding of new financial concepts, and promised high returns by issuing or hyping so-called "virtual currencies","digital assets" and "stablecoins investment projects". Induce the public to invest money to participate in transaction hype.
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