Multiple Locations Issue Risk Warnings to Guard Against 'Stablecoin' Fraud Schemes

July 27th. Since July, financial regulators and industry self-regulatory organizations in many places have successively issued risk warning notices. With the increasing popularity of the stablecoin concept, some criminals have carried out illegal activities under the guise of stablecoins, and their potential risks deserve high vigilance. Financial regulators and industry self-regulatory organizations in many places remind consumers that before engaging in investment and financial management, they must verify the legal qualifications of relevant institutions and products through the official channels of the national financial regulatory authorities and choose licensed and reputable financial institutions. Fully understand the extremely high complexity and volatility of concepts such as "stablecoins" and other digital currencies and innovations, establish a correct concept of money and a rational investment philosophy, and consciously resist and stay away from any form of cryptocurrency speculation, illegal token issuance, and unauthorized "digital asset" investment projects to effectively protect personal financial security. (Jinse)