The community has generally reported in recent days that the OTC price of stablecoin USDT against the Chinese Yuan has dropped to a negative premium. Currently, 1 USDT = 6.95 RMB But 1 USD = 7.07 RMB A few days ago, the People's Bank of China, along with dozens of government departments, announced a crackdown on crypto-related business activities and online speculation (including stablecoins), with momentum comparable to the policies during the May 19, 2022 period.