Multiple regions issue risk warnings to guard against scams disguised as "stablecoins"

On July 27, according to Jinshi Data, since July, financial management departments and industry self-regulatory organizations in many places have successively issued risk warning announcements, pointing out that with the rise of the stablecoin concept, some illegal activities carried out by criminals using stablecoins as a gimmick have begun to emerge, and their potential risks deserve high vigilance. Financial management departments and industry self-regulatory organizations in many places remind consumers to verify the legal qualifications of relevant institutions and products through official channels of national financial management departments before making investments and financial management, and choose licensed and formal financial institutions; fully understand the high complexity and volatility of digital currencies such as "stablecoins" and related innovative concepts, and establish correct currency concepts and rational investment concepts; consciously resist and stay away from any form of virtual currency speculation, illegal token issuance, and unapproved "digital asset" investment projects, and effectively protect personal property safety. [TechFlow]