Understanding the Rise and Risks of Stablecoins

Understanding the Rise and Risks of Stablecoins

Stablecoins -- crypto-tokens whose value is pegged to fiat currencies -- aim to blend the stability of traditional government-issued money with the speed, decentralized nature, and reach of cryptocurrencies. They were created as an alternative to cryptocurrencies whose volatile prices make them impractical for purchases or for holding wealth. Stablecoins are increasingly used in transactions, remittances, and as a way to preserve wealth in high-…

Residents of China began to deceive more often using stablecoins - World Stock Market

The management of a special operational group for the prevention and control of illegal financial activities of the Chinese province of Shenzhen reported the attention of scammers to stablecoin. Officials said that fraudsters abuse the insufficient financial literacy of the residents of the PRC in order to lift into financial pyramids and similar schemes. “Fraudulent structures are increasingly using new concepts, such as stablecoins, to p…