Beijing Internet Finance Industry Association: Beware of Illegal Fundraising Using New Concepts Such as "Stablecoins"

ChainCatcher news, according to Jin10 reports, the Beijing Internet Finance Industry Association has issued a risk warning against the 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, exploit the public's limited understanding of new financial concepts. They promise high returns through the issuance or speculation of so-called "virtual currencies," "digital assets," and "stablecoin investment projects," enticing the public to invest funds for trading speculation.