Primitive founding partner: Tether issuing stable currency anchoring offshore renminbi may cause regulatory problems

On August 13, the news that Tether will issue stable coins anchoring offshore renminbi, Primitive Ventures founding partner Dovey Wan issued a statement that Chinese regulators may be angered by the move, hoping this will not negatively affect Tether influences. In China, the flow of USDT is mainly supported by P2P transactions. People's renminbi holding habits are hard to change. The practical significance of this is not great.