In order to prevent bank cards from being frozen due to receiving black money in cryptocurrency OTC transactions, the following are some effective preventive measures:
Choose a large platform: When conducting OTC transactions, give priority to large platforms such as Binance and EURAY that have smooth communication with mainland regulatory agencies and law enforcement agencies and have complete risk control measures.
Consider withdrawal strategy: Try to choose an OTC platform that supports T+1/T+2 withdrawal strategy to reduce the money laundering risk that may be brought about by instant withdrawal.
Mainstream currency transactions: Avoid using stablecoins such as USDT for OTC transactions directly, and use mainstream currencies such as BTC and ETH instead to reduce risks.
Use a dedicated bank card: Set up a special bank card for OTC transactions, separate from the salary card used daily, so that even if it is frozen, it will not affect other funds.
Local bank selection: Try to use bank cards of local banks such as city commercial banks and rural commercial banks for transactions, because these banks have fewer branches nationwide and the risk of being directly frozen is relatively low.
Avoid frequent transactions: Do not conduct frequent transactions with the same merchant or user, especially multiple transactions in a short period of time, so as not to arouse suspicion of money laundering.
Find reliable merchants: Try to trade with large merchants or large market makers with good reputations, and reduce contact with merchants in problem areas.
Reduce withdrawal frequency: appropriately reduce the number of withdrawals and increase the amount of each withdrawal.
Avoid capital transfer: After an OTC transaction, do not transfer funds to other bank cards immediately. You can withdraw cash through an ATM or make online purchases to avoid capital contamination.
Choose the right time to trade: Try to trade during normal working hours on weekdays, such as between 9 am and 9 pm.
Delayed transfer after receiving payment: After converting USDT into RMB, do not transfer it out immediately, you can keep it in the account for a while.
If your bank card is unfortunately frozen, you can explain it in the following way to prove your innocence:
Normal transaction statement: Emphasize that individuals are involved in normal Bitcoin buying and selling transactions, which have nothing to do with illegal activities such as money laundering.
Declaration of unawareness: Clearly stating that the applicant is unaware that the funds received are suspected of being involved in any crime.
Cooperate in providing evidence: Actively cooperate in providing all relevant transaction records, chat records, on-chain transfer records, etc. to prove the legality and authenticity of the transaction.
Legal awareness: We reiterate that digital asset trading activities conducted by individuals are within the scope permitted by law and do not violate any laws and regulations.
