After making 9 million from cryptocurrency trading, I felt confused. The primary advice is actually very clear—immediately proceed with the withdrawal. No matter how impressive the numbers on the screen are, if you can't withdraw them, they are just virtual values with no practical significance.
I have a real case around me: a friend made over 10 million from trading B coins. Five years have passed, and this money has never been able to be transferred to a bank card, and he still hasn't been able to cash it out. He consulted banks and lawyers, and only then did he understand the key issues behind it:
1. Legal Aspect: The withdrawal of cryptocurrency is subject to clear restrictions
- According to Article 19 of the (Regulations on the Prevention and Handling of Illegal Fundraising), if cryptocurrency trading involves raising funds in the name of virtual currency, it may be deemed as illegal fundraising.
- (Notice on preventing Bitcoin risks) clearly states that virtual currencies such as Bitcoin do not possess legal repayment and compulsory characteristics, and are not legal tender; therefore, financial institutions and payment institutions are prohibited from conducting related businesses.
This means that banks generally do not accept withdrawal transfers from virtual currency platforms. Unless one can prove that the transactions are completely legal, this burden of proof is often impossible to fulfill—the platform cannot provide it, and individuals find it even more challenging.
2. Technical aspect: The "non-traceability" property of virtual currency is an obstacle
Taking B coins as an example, its characteristics determine that illegal funds and legal funds may be mixed in the same "fund package", and the source cannot be traced. This leads to:
- Individuals cannot prove that the B coins they hold do not contain illegal funds;
- Platforms also cannot provide such proof because it is technically impossible to distinguish.
It is precisely because of this "non-traceability" that B coins are often used as tools for money laundering, further exacerbating banks' vigilance against withdrawals.
3. The so-called "overseas withdrawal": higher risk, also illegal
Some may consider withdrawing cash through foreign banks and bringing it into the country, but China has clear limits on the amount of foreign currency individuals can bring in; exceeding this limit involves currency smuggling, which also touches legal red lines and is by no means a feasible strategy.
Finally, it should be noted that even if someone claims to have found a withdrawal method, they rarely share it publicly—first, for fear that the method will be blocked, and second, that such operations may inherently carry compliance risks. Therefore, for those profiting from trading coins, the prerequisite for "locking in profits" is to first resolve the legitimate withdrawal issue, which is currently the most urgent matter to consider.
