Stuck in the USDT trading card freezing dilemma? Here’s how to unfreeze your card and avoid risks!
1. How to operate legally and safely?
If you've made some profits from trading cryptocurrencies but are worried that withdrawing to a mainland bank card will trigger freezing monitoring, don’t worry; there are still legal and safe ways to transfer out.
You can choose a legitimate e-wallet like BiyaPay to transfer USDT from the exchange to BiyaPay, then exchange it 1:1 for USD, and finally withdraw it to a compliant bank account. For example, withdraw to Bank of China or Alipay through Wise, which fully complies with regulatory requirements.
The Kraken exchange also supports transferring USDT to a legitimate bank account in the UK, with clear fund flows and simple operations.
Withdrawing through these compliant channels can avoid the risk of your bank card being frozen, and you don’t have to worry about being mistakenly regarded as involved in illegal fund transfers.
2. How to unfreeze a bank card?
In case your bank card gets frozen, the first step is to stay calm and actively communicate to resolve the issue. You can take the following steps:
Provide trading evidence: For example, provide complete transaction records, chat logs, etc., to prove that your transactions are legal.
Self-prove innocence: If necessary, provide proof of legal income sources to ensure the legality of the fund flows.
Rational communication: When communicating with the public security authorities, try to avoid emotional expressions, clearly state how the frozen bank card affects your life and work, and present relevant evidence.
3. Why might it be frozen?
Since 2020, the government has strengthened its regulation of virtual currency trading, especially stablecoins like USDT, which, due to their strong liquidity and stable prices, have become a “tool” for illegal fund transfers. Therefore, it’s not surprising that many people experience frozen bank cards after buying and selling virtual currencies.
However, in reality, having a bank card frozen does not necessarily mean that there is criminal activity; in many cases, it is just because the bank triggered anti-money laundering monitoring. To avoid encountering similar issues in the future, everyone needs to understand the potential risks involved.
At the current crazy bull stage, the primary market can be laid out. For example, Ethereum chain #puppies coin, backed by the Musk concept, has the potential for a hundredfold increase and is expected to become the next SHIB.