What are the real pitfalls of trading cryptocurrencies?!!

The real pitfall lies in 'depositing and withdrawing funds'!

Trading cryptocurrencies may not get you caught, but improper deposits and withdrawals can easily lead to trouble!

Ⅰ. Selling USDT on an exchange is not illegal, but be cautious about whether the RMB you receive comes from 'black U' (fraudulent or money laundering funds)! Once you receive black U, the consequences are severe:

Your bank card is likely to be frozen, and you may be treated as a suspect in a fraud chain and will usually need to cooperate with the police. Only after returning the funds might it be possible to unfreeze it.

Ⅱ. If you are a 'C2C merchant' on a platform, the risks are even greater. Engaging in arbitrage for profit, or making daily payments, may involve illegal operations, money laundering, or even fraud! Merchants in several regions have already been convicted and sentenced for this!

Reminder: Newcomers should never easily become OTC or C2C merchants. Don’t risk yourself for a few dollars in price difference!

Domestic regulatory attitude: It's not about prohibition, but about 'controlling risks'.

Mainland China does not allow the establishment of cryptocurrency exchanges, but Hong Kong has been allowed to set up compliant platforms as a 'policy pilot' permitted by the state; most legitimate exchanges will also actively cooperate with the police in investigations to avoid legal risks. In summary: Cryptocurrency is not a lawless land.