A billion-dollar underground bank was exposed! Yiwu merchants actually used USDT to launder money across borders? The central bank took action overnight!
Core events:
An "underground dollar" trading chain was discovered in Yiwu Small Commodity Market in Zhejiang Province. Some merchants completed cross-border transactions of more than 1 billion US dollars through USDT! The central bank and the State Administration of Foreign Exchange have intervened in the investigation, which may trigger a new round of cryptocurrency regulatory storm!
Three major nuclear explosion-level impacts on the cryptocurrency world
1. Stablecoin "grey channel" suffered a heavy blow
Model involved in the case: Merchants used USDT to replace traditional foreign exchange to circumvent the $50,000/year foreign exchange purchase limit
Regulatory response: The central bank may crack down on OTC acceptors, and the RMB channels of Huobi, OKX and other platforms are at risk of being frozen
Suzaku's view:
Short-term negatives: USDT OTC premium may plummet
Long-term positive: Compliant stablecoins accelerate substitution
2. Miners and foreign traders face a "blood shortage" crisis
Broken capital chain: Cross-border traders who rely on USDT settlement may have their bank accounts frozen
Case warning: In 2023, a foreign trade company in Huizhou was fined 230 million yuan for USDT transactions
Suzaku's unique response strategy
Coin holders:
Exchange 50% of USDT to BTC/ETH
Transfer the remaining USDT to the cold wallet
Traders:
Suspension of RMB OTC transactions
Switch to P2P
Miners:
Electricity bills are now paid in fiat currency
The Ultimate Prophecy:
"This rectification will be more severe than in 2021! If the central bank completely bans USDT RMB transactions, BTC may crash to $58,000! But the players who survive will usher in the dividends of compliance!"
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