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Beijing: Beware of illegal fundraising using new concepts such as "stablecoin".
[Beijing: Beware of Illegal Fundraising Using New Concepts Such as "Stablecoin"] The Beijing Internet Finance Industry Association has released a risk warning about illegal fundraising using new concepts such as "stablecoin": Recently, various types of digital money and related concepts represented by "stablecoin" have attracted market attention. Some illegal institutions and individuals, under the guise of "financial innovation", "blockchain technology", "digital economy", "digital asset", and other gimmicks, exploit the public's limited understanding of new financial concepts. They promise high returns through the issuance or speculation of so-called "virtual money", "digital assets", and "stablecoin investment projects", enticing the public to invest funds to participate in trading speculation.