Warning Issued on Risks of Illegal Fundraising Using Stablecoins

According to Foresight News, the Beijing Internet Finance Industry Association has issued a warning regarding the risks of illegal fundraising using stablecoins and other digital currency concepts. Recently, various digital currencies, including stablecoins, have attracted significant market attention. Some unscrupulous organizations and individuals are exploiting the public's limited understanding of new financial concepts. They are using terms like 'financial innovation,' 'blockchain technology,' 'digital economy,' and 'digital assets' as gimmicks to issue or promote so-called 'virtual currencies,' 'digital assets,' and 'stablecoin investment projects.' These entities promise high returns to entice the public to invest funds in trading and speculation.