Earned 19 million by speculating in cryptocurrencies, but the bank card for selling cryptocurrencies was frozen. (From Coinsradar.net)

A few days ago, a fan said that her card was frozen by the bank, and she did not receive the funds involved in the case and was frozen by her uncle. The coin dealer who traded with the fan is also a famous figure in the coin circle, and there is no black money.

The fan said that the transaction amount was a bit large, and I wondered how large it could be, until she said it was 19 million, and finally understood why her card was frozen by the bank.

The fan's frozen card is a new personal savings card, and there was no money before. The fan is not a business owner and does not have a company public account. The funds on other cards under his name are only tens of thousands. In other words, an ordinary person suddenly received a huge amount of 19 million.

The amount of funds received is seriously mismatched with the identity, and any bank will take corresponding risk control measures for this situation.

If your company account has 20 million for a long time, and now you receive 10 million, this will not be risk controlled.

The bank staff also called the fan, and the fan said truthfully that it was selling virtual currency. The bank asked to provide materials to prove the source of funds.

The fan said that he had been speculating in cryptocurrencies for many years and had continuously reinvested the money. It was obvious that this cognition and wealth were not matched. Before selling the coins, he should have thought that collecting so much money at one time would be subject to bank risk control, and he still used a new card to receive the funds.

I asked if he was helping others sell virtual currency to collect payments and earn commissions?

The fan said very confidently that he was selling his own coins, not what I thought.

I also suspected that the fan had been in prison. After buying the coins, he was imprisoned for several years because of something. He was released recently and found that there was 19 million in the account...

Back to the problem of the fan card being controlled by the bank, there are two core issues to solve:

 Is speculating in cryptocurrencies illegal?

Speculating in cryptocurrencies is not illegal. All the news you see about "being arrested for speculating in cryptocurrencies" are because of the illegal sale of cryptocurrencies (USDT) and the receipt of black funds involved in the case!

The policy is to crack down on the speculation of virtual currencies, including the crackdown on virtual currency settlement by various banks. As long as the bank knows that you are speculating in cryptocurrencies, it is likely that the bank will ask you to cancel your bank account.

However, there is no law or regulation that says that cryptocurrency speculation is illegal!

If you are just a normal user of the exchange and you sell U on the exchange and receive a black money frozen card, then the biggest consequence for you is to return the "involved funds" and you will not be arrested.

It is okay to cash out through normal channels of cryptocurrency speculation, but I am afraid that the kind of people who collude with the exchange currency dealers outside the market, covet the high price of U, or the currency dealers do not pay in real name, and transfer the first-hand fraud black money to you.

Or, if you make too much money and your card is involved in the case, you cannot reasonably explain the legal source of your USDT, then "the man is innocent, but guilty of holding a treasure". Not to mention confiscating your funds, you will be given an illegal exchange. It is not too much to start with a 37-day package.

2. The source of huge assets is unknown.

Is it a crime of huge assets of unknown origin to make 20 million by speculating in cryptocurrencies?

As long as you get wealth through regular cryptocurrency speculation, it is not a crime of unknown sources of assets.

Previously, a document on speculation in virtual currencies was issued, which only said that speculation in cryptocurrencies is against public order and morality, and it is a risk at your own risk. To put it bluntly, you can smile when you make money, and if you lose money, don't ask the government to say that there is no supervision.

So what materials should fans prepare to prove the source of funds?

1. Exchange withdrawal records.

2. The currency dealer's currency collection record.

3. The currency dealer's transfer record, and the transfer card owner's ID card.

4. The contract signed during the transaction.

5. Personal situation description (the entire process of the transaction).

6. Policy notice on virtual currency transactions

This is the "Notice on Preventing Bitcoin Risks" prepared by the bank's risk control for trading virtual currency cards.

The legal positioning of crypto assets such as Bitcoin is "virtual goods", and the occupation, use, income, and disposal related to it are also equally protected by law. According to the "Notice on Preventing Bitcoin Risks" issued by the People's Bank of China and other five ministries and commissions, Bitcoin and other digital currencies are a kind of commodity trading behavior on the Internet, and ordinary people have the freedom to participate at their own risk. (All materials need to be printed out)

I hope you will never use it in your life!

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