BlockBeats News, December 4th, according to market data, the price of USDT to Chinese Yuan on Binance has dropped below 7, now trading at 6.99. In addition, the price of USDC to Chinese Yuan is currently only 6.96.
BlockBeats previously reported that the People’s Bank of China, together with more than ten departments, held a coordination meeting on combating virtual currency trading speculation on November 28th (hereinafter referred to as the 1128 Meeting). Lawyer Xiao Sa interpreted that overall, the 1128 Meeting is a reiteration of previous positions, and what is actually being targeted this time is the illegal foreign exchange activities using stablecoins, which seriously disrupt the financial order.
