On July 27th, financial management departments and industry self-regulatory organizations in many regions have successively issued risk warning announcements since July, pointing out that with the rise of the stablecoin concept, some illegal activities carried out by criminals using stablecoins as a gimmick have begun to emerge, and their potential risks deserve high vigilance. Financial management departments and industry self-regulatory organizations in many regions remind consumers to verify the legal qualifications of relevant institutions and products through official channels of the National Financial Management Department before making investments and financial management, and choose licensed and formal financial institutions; fully understand the high complexity and volatility of digital currencies such as "stablecoins" and related innovative concepts, and establish correct currency 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. (Golden Ten) [BlockBeats]
On July 27th, financial management departments and industry self-regulatory organizations in many regions have successively issued risk warning announcements since July, pointing out that with the rise of the stablecoin concept, some illegal activities carried out by criminals using stablecoins as a gimmick have begun to emerge, and their potential risks deserve high vigilance. Financial management departments and industry self-regulatory organizations in many regions remind consumers to verify the legal qualifications of relevant institutions and products through official channels of the National Financial Management Department before making investments and financial management, and choose licensed and formal financial institutions; fully understand the high complexity and volatility of digital currencies such as "stablecoins" and related innovative concepts, and establish correct currency 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. (Golden Ten) [BlockBeats]