What should I do if my bank card is frozen after selling USDT? Here are some methods to unfreeze my bank card and effectively avoid risks!
Many people have encountered bank card freezing when trading USDT, which is undoubtedly very worrying. So, why does personal buying and selling of virtual currencies lead to bank card freezing? How to unfreeze bank cards legally and compliantly while avoiding legal traps?
1. Reasons why your bank card is frozen
Since 2020, the government has been increasing its supervision of virtual currency transactions. Stablecoins such as USDT have unfortunately become a common "tool" for illegal fund transfers due to their high liquidity and relatively stable prices. Therefore, it is not uncommon for many people to have their bank cards frozen after conducting virtual currency transactions.
However, a frozen bank card does not necessarily mean that a crime has occurred. In many cases, the bank has simply activated an anti-money laundering monitoring mechanism. Understanding the potential risks involved is crucial to preventing similar problems.
2. Legal and safe operation methods
If you make a profit from trading currencies but are worried that withdrawing money to a mainland bank card will trigger a freeze monitoring, don’t worry, there are legal and safe ways to withdraw money.
For example, you can use legal e-wallets such as BiyaPay to transfer USDT from the exchange to BiyaPay, then convert it to USD at a 1:1 ratio, and finally withdraw it to a compliant bank account. Withdrawing to a Chinese bank account or Alipay through Wise is fully in line with regulatory requirements.
In addition, Kraken Exchange also supports the withdrawal of USDT to legal bank accounts in the UK, with clear fund flows and easy operations.
Through these compliant withdrawal channels, you can effectively avoid the risk of bank card freezing and don’t have to worry about being misjudged as illegal fund transfers.
3. Solutions to bank card freezing
If your bank card is unfortunately frozen, the first thing to do is to stay calm and actively seek solutions. You can take the following measures:
Provide proof of transaction
Provide comprehensive transaction records, chat records and other relevant information to prove that your transactions are legal and compliant.Prove your innocence
If necessary, provide proof of legal source of income to ensure the legitimacy of the flow of funds.Rational communication
When communicating with the public security authorities, avoid emotional expressions, clearly explain the impact of the freezing of your bank card on your life and work, and provide relevant evidence.
