The subdued activity in the cryptocurrency market this year can be largely linked to stricter risk management practices surrounding the trading of USDT (Tether). These enhanced regulations have created significant barriers for users trying to deposit, withdraw, or trade USDT, disrupting the usual flow of transactions. Financial institutions and platformsâranging from popular apps like Alipay and WeChat to traditional banking servicesâare tightening their scrutiny, making it harder for smooth operations in the virtual currency market.
Additionally, cryptocurrencies have become increasingly associated with black-market and gray-market activities, further complicating the ability to distinguish between lawful and illicit transactions. This has triggered heightened monitoring by both regulators and financial institutions, with each USDT transaction potentially raising red flags. Authorities often find it challenging to differentiate whether USDT is being used for legitimate investments or illegal activities like online gambling and other forms of criminal enterprise. This atmosphere of mistrust has significantly impacted the marketâs fluidity, causing a notable slowdown in trading volume and growth.
Consequently, participating in the cryptocurrency space has become more complex, with users facing constant surveillance, even when engaging in lawful transactions. This heightened caution has taken a toll on market sentiment, contributing to the quiet and less active landscape weâve observed throughout the year.
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