Deep Tide TechFlow News, on July 8, (Daily Economic News) reporters recently conducted an in-depth investigation at Yiwu International Trade City and found that the rumor about "over 3,000 merchants in Yiwu using USDT and other stablecoins for payments, with monthly transactions exceeding $1 billion" is severely inconsistent with the actual situation. The reporters visited dozens of shops, and the vast majority of merchants said they "do not accept, do not understand, and have not heard of" stablecoins, with only one store stating "we can accept but do not do small orders." Yiwu merchants mainly accept payments in RMB or USD cash, usually completing transactions through bank transfers or freight forwarding companies. Local association representatives clearly stated that, according to what they know about their member units, "there are almost no cases of using stablecoins for settlement." Legal experts pointed out that currently, stablecoins cannot be used for cross-border payments between mainland China and overseas. Receiving stablecoins through overseas wallets and attempting to remit them back to the domestic market violates foreign exchange management regulations.

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