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China industry body warns against illegal fundraising risks involving stablecoins
An industry body in China warned against illegal fundraising risks involving stablecoins amid a market frenzy over cryptocurrencies and digital assets. The Beijing Internet Finance Association said in a statement late on Wednesday that some unscrupulous institutions and individuals have been luring investors into stablecoin and other crypto schemes that promise high returns under the guise of financial innovation. "High returns and high risks go hand in hand," the association said, urging investors to be vigilant and to stay away from unauthorised crypto projects. Stablecoins are digital tokens pegged to liquid ... (full story)
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