Is the currently popular U card cash withdrawal reliable?

1. First, let's talk about the logic of the U card: USDT → Transfer to U card → Consumption/Cash Withdrawal as ¥. Cardholders can bind apps like Alipay, Meituan, and Ele.me, smoothly using the U card as a payment tool for domestic consumption, without needing to go through the OTC process of exchanging virtual currency for fiat currency.

2. Is using the U card legal?

According to relevant policies in our country, virtual currencies like Bitcoin are regarded as a specific type of virtual commodity, which do not have the same legal status as currency and cannot, nor should they, circulate as currency in the market. However, using the international U card payment method seems to magically achieve the function of equating virtual currency with fiat currency? In fact, this is not the case. The virtual currency that users recharge into the U card will be settled as foreign currency by the card's operating entity. When users use the U card for transactions domestically, it is no different from other bank cards with international payment functions, as there are international settlement agreements in place; merchants and platforms like Alipay still receive fiat currency. So you can use it with confidence!

3. Can using the U card for transactions avoid criminal risks such as assisting in crime or concealing crimes?

The reason for involvement in assisting or concealing crimes is that one has received illicit funds in their bank card from upstream sources. Therefore, many people believe that receiving U in their card, which does not involve bank card receipts, means there is no criminal risk. However, this is not true. Various U cards do not support transfers; they can only be used for consumption or cash withdrawal, so there is no transaction between individuals through the U card itself, significantly reducing the possibility of illegal transactions. However, there will still be individuals who use the U card for arbitrage: after agreeing on the exchange difference between U and fiat currency, they use their own U card to help others collect U, and the difference withdrawn from the ATM is their profit. If the U transferred in is obtained through fraud, knowing this but still engaging in arbitrage, with the upstream converting the fraudulent ¥ → USDT → transferred to your U card → cashed out as ¥, isn’t this entire chain a concealment?

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