Continued questioning section, recently with the release of HK's stablecoin regulations, I will write more about my views on this aspect!

GO GO GO Let's go!

The "compliance benefits" of BounceBit Prime pose certain legal risks for users in mainland China.

In simple terms: although @BounceBit has access to Franklin Templeton's tokenized fund, participation by users in mainland China is likely illegal, and there is no guarantee of fund safety. The main reasons are as follows:

Licensing issues

The Hong Kong "Stablecoin Regulations" only apply to Hong Kong, and @BounceBit lacks a financial license for mainland China, making it illegal to provide services to users in the mainland.

Illegal funding channels

Mainland China strictly prohibits cryptocurrency trading, and investing with stablecoins like USDT is effectively a form of foreign exchange evasion, with banks potentially freezing accounts at any time; of course, this is the most serious scenario.

Profits turn into fines

Overseas investment income must be proactively declared with a 20% individual income tax, but the platform will not assist you in tax declaration, and the tax bureau may impose penalties along with interest later on.

Special reminder:

Institutions like JD.com applying for Hong Kong stablecoin licenses are meant for compliant enterprises and have nothing to do with individual investors.

This situation is akin to setting up a "legal exchange" in a casino, but mainland law recognizes gambling as illegal; no matter how many chips you exchange, it does not change the illegal nature. If you really want to make money without being caught, consider it luck; if caught, don’t claim injustice.

#BounceBitPrime #香港稳定币新规 $BB