Is the previously popular U card withdrawal reliable?
1. Let’s talk about the logic of the U card first: USDT → remit to the U card → consume/withdraw in ¥. Cardholders can bind APPs such as Alipay, Meituan, and Ele.me, and use the U card as a payment tool for domestic consumption smoothly, without having to go through the process of exchanging virtual currency for legal currency through OTC.
2. Is it legal to use the U card?
According to relevant policies in my country, virtual currencies such as Bitcoin are regarded as a specific virtual commodity, which does not have the same legal status as currency. They cannot and should not be circulated and used as currency in the market in my country.
But using the international U card payment method seems to have magically achieved the function of equating virtual currency with legal currency? In fact, it is not the case. The virtual currency that users recharge into the U card will be settled as foreign currency by the operator of the card. Users use U cards for transactions in China, which is no different from other bank cards with international payment functions. Because there is an international settlement agreement, domestic merchants, Alipay and other platforms still collect legal currency. So everyone can use it with confidence!
3. Can using U card transactions avoid criminal risks such as aiding and concealing crimes?
The reason for aiding and concealing crimes is that the upstream involved in the case has been received in one's bank card.
So many people think that if the card receives U and does not involve bank card collection, then there is no criminal risk. But this is not the case.
All types of U cards do not support transfers, they can only be used for consumption or withdrawals, so there is no transaction with others through the U card itself, and transfers in and out of the upstream and downstream, which does greatly reduce the possibility of illegal transactions.
However, some people still use U cards to do arbitrage business: after the two parties agree on the difference between U and legal currency, they use their own U cards to help others collect U, and the difference in cash withdrawal from the ATM is their own profit.
If the U transferred in is obtained by fraud, and you know it but go for arbitrage, the upstream will transfer the ¥ obtained by fraud to USDT to your U card and cash it out for ¥. This whole chain is not concealment, what is it?
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