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

The Economic Daily published an article stating that since July, financial management departments and industry self-regulatory organizations in many regions have successively issued risk warning announcements, pointing out that with the rise of the stablecoin concept, some criminals have begun to engage in illegal activities using stablecoins as a gimmick, and their potential risks deserve high vigilance. Financial management departments and industry self-regulatory organizations in many regions remind consumers to verify the legal qualifications of relevant institutions and products through official channels of the national financial management department before making investments and wealth management, and choose licensed and formal financial institutions; fully understand the high complexity and volatility of "stablecoins" and other digital currencies 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. [Wu Blockchain]