Beijing Internet Financial Industry Association: Beware of illegal fundraising using new concepts such as "stablecoins"

Odaily News The Beijing Internet Finance Industry Association issued a risk warning to beware of illegal fundraising using new concepts such as "stablecoins": Recently, various digital currencies and related concepts represented by "stablecoins" have attracted market attention. Some illegal institutions and individuals, under the guise of "financial innovation", "blockchain technology", "digital economy", "digital assets" and other gimmicks, take advantage of the fact that the public has not yet deeply understood new financial concepts, and issue or hype so-called "virtual currencies", "digital assets", "stablecoin investment projects", etc., promise high returns, and induce the public to invest funds to participate in trading speculation. (Jinshi)