Beijing: Beware of illegal fundraising using new concepts such as "stablecoins"

The Beijing Internet Finance Industry Association issued a warning warning about the risk of illegal fund-raising using new concepts such as "stable currency": recently, various digital currencies and related concepts represented by "stable currency" have attracted market attention. Some illegal institutions and individuals, by taking advantage of gimmicks such as "financial innovation", "blockchain technology", "digital economy" and "digital assets", and taking advantage of the lack of in-depth understanding of the new financial concepts by the public, have promised high returns and induced the public to invest in transactions by issuing or hyping the so-called "virtual currency", "digital assets", and "stable currency investment projects".