宁凡
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In Tsim Sha Tsui, Hong Kong, there is a virtual asset exchange store that is booming with business, with mainland customers coming and going. Cash can be exchanged for USDT, or vice versa, digital currency can be exchanged for Hong Kong dollars or US dollars. However, for transactions exceeding ten thousand Hong Kong dollars, identification must be presented.
Hong Kong has a relatively loose regulation on virtual currencies, attracting many mainland customers. However, cashing out USDT in mainland China always involves risk control and card freezing issues. When cashing out from Hong Kong back to mainland China, the cash limit is twenty thousand RMB. If it's a bank transfer, the source and purpose of the funds must be clearly stated and comply with regulations. This is akin to buying a large item abroad and sending it home; it must be declared, and taxes must be paid; it cannot be done secretly. Therefore, behind the seemingly free trading of virtual currency in Hong Kong, regulations still need to be followed, especially concerning the flow of funds and declaration procedures, as a slight oversight may lead to pitfalls. For mainland customers, this 'roundabout way of buying goods' may be cumbersome, but as long as the rules are followed, it can indeed work.
I found the simplest and most secure method: Biyapay
✅ Legal License - #biyapay holds a legal license in the United States, ensuring transaction safety and compliance.
✅ USDT to USD Exchange - Convert USDT to USD through BiyaPay, with a legal and impeccable source of funds.
✅ Withdraw to Wise or OCBC - USD can be withdrawn to Wise or OCBC bank; although there are fees, the flow of funds is completely compliant.
Wise: Can transfer to Alipay, WeChat, or Bank of China (with annual limits).
OCBC 360 Account: Direct cash withdrawal in mainland China, unaffected by the 50,000 USD annual limit.
Hong Kong has a relatively loose regulation on virtual currencies, attracting many mainland customers. However, cashing out USDT in mainland China always involves risk control and card freezing issues. When cashing out from Hong Kong back to mainland China, the cash limit is twenty thousand RMB. If it's a bank transfer, the source and purpose of the funds must be clearly stated and comply with regulations. This is akin to buying a large item abroad and sending it home; it must be declared, and taxes must be paid; it cannot be done secretly. Therefore, behind the seemingly free trading of virtual currency in Hong Kong, regulations still need to be followed, especially concerning the flow of funds and declaration procedures, as a slight oversight may lead to pitfalls. For mainland customers, this 'roundabout way of buying goods' may be cumbersome, but as long as the rules are followed, it can indeed work.
I found the simplest and most secure method: Biyapay
✅ Legal License - #biyapay holds a legal license in the United States, ensuring transaction safety and compliance.
✅ USDT to USD Exchange - Convert USDT to USD through BiyaPay, with a legal and impeccable source of funds.
✅ Withdraw to Wise or OCBC - USD can be withdrawn to Wise or OCBC bank; although there are fees, the flow of funds is completely compliant.
Wise: Can transfer to Alipay, WeChat, or Bank of China (with annual limits).
OCBC 360 Account: Direct cash withdrawal in mainland China, unaffected by the 50,000 USD annual limit.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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