Everyone can stock up on some USDT, as the C2C transactions on the exchange may be suspended in the future.

I looked at the main content of the documents issued yesterday regarding the crackdown on virtual currencies in China, and for the first time, the authorities officially defined stablecoins. "Stablecoins are a form of virtual currency that currently cannot effectively meet customer identity verification, anti-money laundering, and other requirements, and there is a risk of being used for illegal activities such as money laundering, fundraising fraud, and illegal cross-border fund transfers."
Currently, domestic mining farms have been officially shut down, and exchange project parties have no physical operations in mainland China. Therefore, if regulatory agencies really intend to escalate their crackdown, it would likely involve shutting down C2C trading. Previously, in 2018, there was no C2C trading due to concerns over regulation, and in 2021, there was a brief shutdown of C2C trading. So, if regulation escalates again this time, it is estimated that the focus will be on the C2C deposit and withdrawal channels.