"Receiving payments in USDT, but the account is frozen by the police!" "The partner ran away, and one million USDT evaporated!" Recently, cross-border enterprises have frequently encountered explosive incidents due to receiving payments in USDT. As a legal team focused on the metaverse and blockchain field, we analyze the risks of receiving USDT payments in depth, combining the latest policies and real cases!

1. Six Core Risks of Receiving USDT

1️⃣ **Illegal Business Operations: U Merchant = Buying and Selling Foreign Exchange?**

Recently, a foreign trade company in Shanghai was determined by the court to constitute **Illegal Business Operations** for receiving overseas payments through USDT and converting them into RMB, with the amount involved exceeding 20 million yuan, and the main perpetrator was sentenced to 5 years! According to Article 45 of the (Foreign Exchange Management Regulations), USDT, as a medium for foreign exchange transactions, may be identified as disguised buying and selling of foreign exchange, triggering criminal risks.

**Case Warning**: In 2024, a U Merchant in Zhejiang was sentenced for illegal business operations due to offline cash transactions of USDT, with the court stating that "buying and selling USDT is equivalent to buying and selling US dollars."

2️⃣ **Money Laundering Trap: Frozen as Soon as Illegitimate Funds Flow In**

The anonymity of USDT makes it a tool for money laundering. In 2024, a tech company in Guangdong was found to have received USDT payments from overseas gambling funds, leading to a **full freeze** of the company's accounts, and the person in charge was investigated for **Concealing Criminal Proceeds**.

**Key Points to Avoid Pitfalls**:

- Be sure to verify trading counterpart KYC information, and refuse "third-party payments";

- Retain complete transaction chain evidence (contract, logistics documents, on-chain records).

3️⃣ **Compliance Explosion: Policy Red Lines Upgraded Again**

In August 2024, the Supreme Court's new regulations clearly stated: If using USDT for cross-border payments disrupts the foreign exchange management order, the frozen funds can be traced back and illegal gains confiscated. **Shandong, Shanghai, and other places have launched special crackdown actions**, and business owners need to be vigilant!

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2. New Risks: USDT Credit Card and Gift Card Scams

**Model Analysis**

- **USDT Credit Card**: Convert USDT into credit card limits through overseas issuing institutions, but renting someone else's credit card may violate **Credit Card Management Offense**;

- **Cash Out Gift Cards**: Buy brand gift cards at low prices and resell them at high prices; if the funds are involved in fraud, it may constitute **Aiding and Abetting Crime**.

**Blood and Tears Case**: In March 2024, a cross-border seller in Hangzhou cashed out 5 million yuan through the gift card model and was held accountable due to upstream funds being involved in gambling, with losses difficult to recover.

3. Corporate Self-Rescue Guide: Three Types of Evidence Chains Must Be Kept

1️⃣ **Proof of Business Authenticity**: Foreign trade contracts, customs declarations, logistics documents;

2️⃣ **Proof of Legitimacy of Funds**: Records of USDT purchases on exchanges, on-chain transfer hash values;

3️⃣ **Compliance Operation Records**: Anti-money laundering review reports, identity verification documents of trading counterparts.

❓ "What to do if the received USDT is frozen?"

✅ Three Steps to Respond:

1. Immediately suspend all transactions related to associated accounts;

2. Organize the complete evidence chain of the involved transactions;

3. Entrust a lawyer to issue (legal opinion) to submit to the public security organ.

#USDT Legal Risks #Cross-Border Payment Pitfalls #2024 Corporate Compliance

#Virtual Currency Money Laundering #Bitcoin #web3 #Blockchain #Investment #usdthk #Tether Fraud Case

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