Summary:
- This article discusses the rise of stablecoins, a type of cryptocurrency that is designed to maintain a stable value, in the city of Shenzhen, China.
- It explains that the Chinese government has been cracking down on cryptocurrency trading and mining, but stablecoins have become popular as a way to circumvent these restrictions.
- The article also warns that some of these stablecoins may be involved in fraud, as the issuers may not have the necessary reserves to back up the value of the coins.