Issue risk warnings in many places to prevent scams wearing "stablecoin" vests

Since July, many financial management departments, industry self-regulatory organizations and other risk warning announcements have been issued one after another, indicating that with the rise of the concept of stablecoins, some illegal activities carried out by criminals with stablecoins have emerged, and their latent risks are worthy of high vigilance. Many financial management departments and industry self-regulatory organizations remind consumers that before investing and managing wealth, they must verify the legal qualifications of relevant institutions and products through the official channels of the national financial management department, and choose a licensed formal Financial Institution Group; fully understand the high complexity and volatility of digital currencies such as "stablecoins" and related innovative concepts, establish correct monetary concepts and rational investment concepts; consciously resist and stay away from any form of virtual currency speculation, illegal token issuance and unapproved "digital asset" investment projects, and effectively protect personal property safety. (Economic Daily)