Recently, stablecoins have been the focus of speculation, and Hong Kong is about to introduce new regulations on August 1st. This should be a good thing, but it has attracted a group of scammers looking to profit from the chaos!

These people are truly unscrupulous, using "financial innovation" and "blockchain" as a pretext, taking advantage of everyone's unfamiliarity with new things, constantly deceiving people into investing in these so-called stablecoins and virtual currency projects, making grand claims that they can get rich quickly.

Places like Zhejiang, Beijing, Shenzhen, and Jiangsu are all rushing to issue warnings, clearly stating that these things are unreliable! The domestic market does not recognize virtual currency trading as legal at all; engaging in this not only makes you susceptible to scams but could also get you involved in illegal fundraising and money laundering messes! Don't let those high-interest rates cloud your judgment; when the money is gone, it will be too late to cry! #稳定币监管风暴