Is anyone wondering? Why does it seem like the crypto world has been muted this year, no longer as lively as before? The reason may be the strict risk control related to USDT, which is undoubtedly one of the main reasons.

Currently, anti-fraud supervision is unprecedented, not only monitoring related apps but also closely regulating Alipay, WeChat, and bank card channels. The boundary between the virtual currency market and the black and gray industrial chain is becoming increasingly blurred. In this situation, buying and selling USDT is easily subject to investigation. After all, in the eyes of regulators, it is difficult to define the true purpose of your buying and selling USDT, whether for cryptocurrency trading or involving illegal activities such as online gambling and fraud, there are significant risks.

Many people in the circle have had similar experiences; some have been approached by the police after buying USDT. Moreover, nowadays, even if there are no issues with the funds themselves, buying and selling USDT may still lead to fines, asset confiscation, or even imprisonment. For example, someone was convicted for helping an exchange withdraw funds, and operations involving buying USDT with RMB and then receiving payments through foreign cards might be classified as "illegal foreign exchange trading." Even if USDT was obtained through airdrops or trading, it could still be convicted for various reasons.

Additionally, the so-called "offshore fishing" phenomenon is also worrying investors. Local police might focus on certain areas for revenue generation purposes, and ordinary people not only need to guard against telecom fraud but also worry about their funds being confiscated.

The troubles with fund inflows and outflows, combined with potential legal risks, have significantly reduced investor enthusiasm, making the crypto market increasingly desolate. This seems to be a problem encountered by most retail investors.