Don't be brainwashed anymore, is it safe to cash out large amounts of U in Hong Kong? Those who say this may not even have an account!

First of all, Brother Wanshi asks everyone to remember one thing about cashing in and out: trust is more important than the platform, and acquaintances are better than tools. Safely cashing out U is never complicated; what’s complicated is your unwillingness to give up on fantasies.

First, let's talk about the most crucial point: is cashing out U illegal in Hong Kong?

The answer is no, provided that your source of funds is legal and compliant. On September 10, 2025, the Financial Secretary of Hong Kong, Xu Zhengyu, clearly stated at the Legislative Council that OTC virtual asset trading institutions, including exchange shops, are not allowed to provide stablecoin exchange services to the public. Regulatory bodies have also made it clear: for now, the focus is on education, and in the future, they will definitely take action to regulate.

The second question: can retail investors cash out large amounts of U in Hong Kong?

The answer is also no. Brother Wanshi will first guide you through the process of cashing out large amounts in Hong Kong. First, you need an overseas bank card, such as one from a local Hong Kong bank. Zhong An Bank claims to support digital asset trading on the surface, but please note that it only supports related services and does not mean they can help you liquidate digital currency. Just like banks, Alipay, and WeChat on the mainland clearly state they do not support virtual currency trading, but you can still indirectly complete cash in and cash out through them. Some banks in Hong Kong have a similar situation; what you see as support is just a slogan, and when your account is closed, you will find it’s completely useless.

Secondly, opening an account at a Hong Kong bank is relatively difficult. Most require the account holder to be present in person, connect to the local network, provide immigration records, and complete identity verification through facial recognition to open an account. For traditional large banks like HSBC and Standard Chartered, you will also need to pay several thousand dollars in intermediary fees to get it done (you can do it manually yourself, but going through an intermediary is more convenient). After you have a Hong Kong account, you can go to offline exchange shops to perform exchange operations, with a transaction cost of about 4%. If you cash out 1,000,000, you will lose 40,000 in this process. The key is that you also need to provide complete KYC certification information. Not to mention how to bring the money back to the mainland from Hong Kong; withdrawing cash from an ATM in the mainland with a Hong Kong card is limited to 20,000 yuan at most, and through exchange channels is limited to 50,000 USD per year, also requiring proof of income and tax payment. #BNB创新高

In summary, Hong Kong is no longer a paradise for the free exchange of USDT! $BTC