Two subjects: 1. Is it legal to trade cryptocurrencies? 2. Discuss the risks of buying and selling USTD separately.
First, is it legal to trade cryptocurrencies?
Is it legal to trade cryptocurrencies? I believe this is a question many people have in their minds.
From a legal perspective, considering the derivative process of trading cryptocurrencies in the domestic context over the years and the relevant legal policies.
Starting from the individual perspective, briefly describe the risks and prevention.
Since the domestic government recognized virtual goods in 2013, personal buying and selling of Bitcoin has been endowed with legitimacy, but it cannot be denied that subsequent regulatory and control measures have emerged.
Especially the relevant management solutions jointly issued by six ministries in 2017, which clearly pointed out some behaviors in Bitcoin trading, but did not impose restrictions or prohibitions on personal possession and transfer of virtual currencies.
Illustration Detailed discussion Legitimacy Risks Prevention
Legal risks:
In other words, in the domestic context, buying and selling Bitcoin is legal for individuals, but you must be careful not to cross the 'red line'!!!
What is the red line?
Don’t engage in tricks to manipulate U exchange rates or incite others for pyramid schemes; such behavior may involve 'fraud'.
‘Concealing criminal proceeds’, ‘money laundering’, and other behaviors. Additionally, if you privately set up an exchange, issue a new currency, or engage in OTC trading, these actions are clearly illegal domestically; this is the red line!!!
Trading risks:
Many risks in the process of trading cryptocurrencies include: price volatility risk, counterparty risk, and legal risk. Individuals should pay attention to fully understand Bitcoin trading rules, market risk, and reasonable asset allocation during the buying and selling process; do not blindly follow the crowd.
You need to maintain a clear mind, sharp observation, and constantly pay attention to domestic policy dynamics. Always keep an eye on the 'authorities’ quick blade' and stay away from unnecessary troubles.
Overview:
In summary, trading cryptocurrencies domestically, regarding individual behavior, as long as you do not engage in offline activities or project promotion, you can basically ensure relative safety. However, you need to always pay attention to the 'red line' and reasonable asset allocation to avoid blindly following the crowd and ensure your asset safety.
Secondly, what are the risks of buying and selling USTD?
Legal risks:
In the domestic context, holding USTD is not illegal, but related trading activities may involve illegal financial activities. Although holding is not against the law, if it involves trading, it is easy to brush against the 'red line', and the authorities will not protect such trading behavior.
What is the red line:
In simple terms: buying and selling USTD domestically may involve criminal legal risks, including concealment, aiding and abetting, fraud, and money laundering.
Other risks:
Excluding: price volatility, legal risks, and asset allocation.
Account freezing risk:
1. When you receive registration information from a counterparty and the payment account is inconsistent, it may lead to you receiving funds involved in fraud; such funds, after the victim goes through legal processes, may not only freeze your account but could also label you as 'two cards'. Those who do not understand 'two cards' can look it up themselves.
2. When you frequently conduct trading operations in a short period, using OTC methods to settle USTD, it is easy to be detected by the bank, leading to your account being subject to bank risk control.
Summary: Whether you are trading Bitcoin or buying and selling SUTD, there is currently no complete prohibition domestically, but you face related legal risks, trading risks, and account freezing risks, which you must treat cautiously.
Based on enhancing basic understanding, make rational decisions legally and compliantly to avoid unnecessary troubles and losses. I am recently preparing to ambush a project that will surge in the short term; doubling is no problem. Friends interested in spot trading but lacking direction can like and comment for free sharing.
$SUI $SHIB $USDC
