Guide for Coin Circle Millionaires to Return Funds to China: Detailed Explanation of Legal Channels
In the field of digital currency, if you become a multi-millionaire through cryptocurrency speculation and hope to transfer this wealth back to a domestic bank account safely, then be careful. Direct transfers may attract the attention of regulators, be regarded as illegal income, and even face legal risks. However, don't worry, the following legal channels may help you.
Channel 1: Use BiyaPay Wallet
You can withdraw USDT (a stablecoin) to BiyaPay wallet. The wallet holds a legal license in the United States and supports the conversion of digital currencies into US dollars and withdrawals to banks such as Wise or OCBC. Although there will be certain fees in the process and you may lose money due to exchange rate fluctuations, your funds will remain legal and compliant. Through Wise, you can transfer US dollars back to your domestic Alipay, WeChat or Bank of China account, but you need to pay attention to the annual transfer limit. OCBC's 360 account is more convenient, allowing you to withdraw cash directly in China without being affected by the US$50,000 foreign exchange limit.
Way 2: With the help of Kraken Exchange and iFAST Bank
Another legal way is to withdraw USDT to iFAST's bank account in the UK through Kraken Exchange. Kraken also holds a legal license to ensure that your transactions are safe and compliant. Although handling fees and exchange rate losses are also inevitable, this is also an effective way to legally transfer digital currency wealth back to China.
Important Tips
Although the above methods are legal and compliant, it is strongly recommended that you consult a professional legal advisor or financial advisor before actual operation. They can help you understand the compliance requirements of each step in detail and ensure that your funds return to China safely and legally. Remember, compliance operations are the key to protecting your wealth