Recently, stablecoins have been trading hotly at #稳定币监管风暴 . Hong Kong is about to introduce new regulations on August 1st, which is a good thing, but it can't withstand a group of scammers taking advantage of the situation! These people are truly unethical, using terms like 'financial innovation' and 'blockchain' as a pretext, focusing on everyone's unfamiliarity with new things and relentlessly persuading them to invest in those so-called stablecoin and virtual currency projects, boasting wildly about the potential for wealth. Many places such as Zhejiang, Beijing, Shenzhen, and Jiangsu are rushing to issue warnings, clearly stating that these things are not reliable! The country does not recognize virtual currency trading as legal, and engaging in these activities not only makes it easy to be scammed but may also lead to illegal fundraising and money laundering messes! Don't be blinded by those high interest rates; by the time you realize it, your money might be gone and there won't even be time to cry!