Data: The USDT to RMB price on Binance has dropped to 6.99

According to market data, the price of USDT against the Chinese Yuan on Binance has fallen below 7, currently reported at 6.99. In addition, the price of USDC against the Chinese Yuan is currently only 6.96.

ChainCatcher previously reported that the People's Bank of China held a coordination meeting on November 28 to combat speculation in virtual currency trading (hereinafter referred to as the 1128 meeting) in conjunction with more than ten departments. Lawyer Xiao Za interpreted that, overall, the 1128 meeting is a reiteration of old themes, and what really needs to be regulated this time is the illegal foreign exchange activities using stablecoins, which severely disrupt financial order.