Multiple places issue risk warnings to guard against scams disguised as "stablecoins".

Since July, financial regulatory authorities in many places, industry self-regulatory organizations, and others have successively issued risk warnings to alert the public. With the growing popularity of the concept of stablecoins, some illegal activities using stablecoins as a lure have emerged. The potential risks associated with these activities deserve high vigilance. Financial regulatory authorities in many places and industry self-regulatory organizations remind consumers to verify the legal qualifications of relevant institutions and products through official channels of the national financial regulatory authorities before making investment decisions, and to choose licensed and regulated financial institutions; fully understand the high complexity and volatility of digital currencies such as "stablecoins" and related innovative concepts, and establish the correct money 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 to effectively protect personal financial security.