In the field of digital currency, once you become a multi-millionaire through trading, you need to be extra cautious if you want to transfer this huge amount of money back to your domestic bank account safely. Direct transfers may attract the attention of regulators and be regarded as the source of funds is unknown, and may even violate the law. However, there is no need to worry too much, there are still legal ways to choose.
The first legal way is to withdraw USDT to BiyaPay wallet, which is a wallet service with a legal license in the United States. In BiyaPay, you can convert USDT into US dollars and transfer it to banks such as Wise or OCBC. Although there may be certain fees in this process and the exchange rate may be slightly unfavorable, this can ensure the legality and innocence of the funds. Through Wise, you can transfer US dollars to domestic Alipay, WeChat or Bank of China accounts, but you should note that there is a certain transfer limit each year. OCBC's 360 account is more convenient. You can withdraw cash directly in China without being subject to the foreign exchange limit of US$50,000.
Another legal way is to withdraw USDT to iFAST's bank account in the UK through the Kraken exchange. Kraken also holds a legal license, and this approach is also legal, but it also needs to bear certain fees and exchange rate losses.
It should be reminded that although these approaches are legal, it is best to consult a professional legal advisor before operating to ensure that each step complies with the requirements of laws and regulations.
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