Lawyers interpret the 1128 regulatory meeting: the focus is on cracking down on illegal foreign exchange and money laundering using stablecoins, not a policy shift.

The key points of this meeting are: first, to guide the judicial rulings to a new direction and curb the trend of courts being lenient in handling currency-related contracts; and second, to crack down on serious violations such as using stablecoins such as USDT and USDC for illegal foreign exchange, money laundering, and assisting sanctioned countries in trade.