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

PANews reported on July 27 that 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 heats up, some illegal activities using stablecoins as a gimmick have emerged, and their potential risks are worthy of high vigilance. Financial regulatory 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 and choose licensed regular financial institutions before making investment and financial management; fully understand the high complexity and volatility of digital currencies such as "stablecoins" and related innovative concepts, establish a correct monetary perspective and rational investment concept; 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.