On July 7th, according to Jinshi Data, digital currencies, represented by stablecoins, have recently received widespread attention in the market. Monitoring has revealed that some illegal institutions, under the guise of "financial innovation" and "digital assets," exploit the public's lack of understanding of stablecoins. They attract funds by issuing so-called "virtual currencies," "virtual assets," and "digital assets," inducing the public to participate in trading and speculation, disrupting economic and financial order, and breeding illegal and criminal activities such as illegal fundraising, gambling, fraud, pyramid schemes, and money laundering, which seriously endanger the public's property safety. The Shenzhen Special Task Force Office for Preventing and Combating Illegal Financial Activities warns: These illegal institutions are not authorized by national financial management departments or violate national financial management regulations and do not have the qualifications to publicly absorb public deposits. These institutions use new concepts such as stablecoins for speculation, fabricate so-called investment projects such as "virtual currencies," "virtual assets," and "digital assets," publicly make false promotions and absorb public funds, breeding illegal and criminal activities such as illegal fundraising, gambling, fraud, pyramid schemes, and money laundering. [Shenchao TechFlow]