Economic Daily: Many places have issued risk warnings to guard against scams disguised as "stablecoins"

The Economic Daily published an article stating that since July, multiple financial regulatory departments and industry self-regulatory organizations have successively issued risk warning notices. As the concept of stablecoins gains popularity, some illegal activities using stablecoins as a gimmick have emerged, and their potential risks are worthy of high vigilance. Financial management departments and industry self-regulatory organizations in various regions remind consumers to verify the legal qualifications of institutions and products through official channels of national financial management departments before investing, and to choose licensed and regulated financial institutions. They should fully understand the high complexity and volatility of digital currencies like "stablecoins" and related innovative concepts, establish a correct monetary perspective and rational investment philosophy. Consumers should consciously resist and stay away from any form of virtual currency speculation, illegal token issuance, and unauthorized "digital asset" investment projects to effectively protect personal property safety.