Recently, the market is in a garbage time. My initial contact with the crypto industry was through investment, which gradually shifted to payments. I have indeed made a good amount of money relying on the crypto industry, part of it from investments and part from payments.

Those who know me well are aware that I have been in the foreign trade industry since around 2018. Due to work requirements, I have met many shop owners in Guangzhou. In some economically struggling areas, we previously relied on underground banks for payments. After the domestic card freezing incidents, it can be said that if you have never had your card frozen, it does not prove that you have good control over your financial safety; it only means you are about to go bankrupt. Based on this issue, U has been brought to the forefront by everyone. I have always supported foreigners using U for settlement with me. I have only one requirement: that you buy coins on the platform and record the entire process for me; then I will accept it. Therefore, using U for settlements has greatly facilitated our foreign trade collections. Of course, there are also many U dealers involved, and some U dealers have indeed caused trouble for many foreign trade bosses. Recently, with the boom in the crypto industry, many factory owners around me, who know little about crypto, frequently express on social media that BTC has skyrocketed to 100,000. It seems that the entire industry is unstoppable, but domestic control in this regard remains very strict. Moreover, in recent years, the domestic tax collection has been strict. Using U for settlements cannot normally handle tax collection. As long as someone using U for settlements gets reported, they can be labeled as an unlicensed dealer. Dealing with an unlicensed status can cost at least 200,000 to resolve. Therefore, we cannot escape from underground banks, yet we must survive in the industry; it basically comes down to who has stronger connections.

Regarding industry expectations, I believe that it is highly likely to conduct trial runs. The industry is developing in such a way that when this payment method is recognized worldwide, whether you like it or not, you will have to join in. You cannot insist on receiving cash when others use mobile payments.

I look forward to the opening of regulations in this area domestically or the provision of other pathways that can achieve the same goals.