TechFlow news, July 9 — According to Jinshi Data, the Beijing Internet Finance Association issued a risk alert warning against illegal fundraising schemes exploiting new concepts such as "stablecoins." Recently, various digital currencies and related concepts represented by "stablecoins" have attracted market attention. Some illegal organizations and individuals are exploiting the public's limited understanding of emerging financial concepts. Under the guise of "financial innovation," "blockchain technology," "digital economy," and "digital assets," they issue or hype so-called "virtual currencies," "digital assets," or "stablecoin investment projects," promising high returns to lure the public into investing and participating in speculative trading.
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