Regarding the legality of cryptocurrency trading, we can discuss it from several aspects.

First, individuals in China purchase USDT with RMB and then use USDT to trade cryptocurrencies like Bitcoin and Ethereum; this process itself is not illegal. According to Chinese legal regulations, trading cryptocurrencies is not explicitly prohibited. We can review a few key regulatory documents:

On December 5, 2013, the People's Bank of China and other relevant departments issued a notice on preventing Bitcoin risks, clarifying the nature of Bitcoin and stating that Bitcoin is a virtual commodity, allowing the general public to participate at their own risk.

On September 4, 2017, an announcement by the People's Bank of China and seven other departments explicitly prohibited illegal token issuance and financing but did not prohibit individuals from holding, trading, or buying cryptocurrencies, including stablecoins like USDT.

On September 24, 2021, the People's Bank of China and ten departments jointly issued a notice emphasizing the prevention of financial risks brought by cryptocurrencies, reminding the public to participate cautiously in virtual currency trading, but still did not explicitly prohibit individual trading.

So, simply put, individuals trading cryptocurrencies within China's borders do not violate existing laws and regulations. It should be noted that if illegal funding sources are involved in the transaction, such as funds from fraud, there may be certain legal risks, especially during the withdrawal phase. If the source of funds is unclear, accounts may be frozen.

Overall, as long as the trading process is compliant and the funds are legitimate, trading cryptocurrencies is not an issue.

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