Star Lee
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No coin is worth calling faith
Don’t have any belief in any currency.
It's all a play.
The so-called constant quantity and no inflation is just a substitution of concepts.
Various tokens are continuously issued every year with various gimmicks.
Theoretically, the variety and quantity can be unlimited.
Therefore, the number of cryptocurrencies is increasing year by year and is infinite.
This is essentially no different from the fact that various sovereign currencies around the world can be printed and issued year by year.
Don’t have any belief in cryptocurrencies.
It is just a temporary money-making tool based on programming and encryption technology.
Bitcoin will eventually crash.
It's all a play.
The so-called constant quantity and no inflation is just a substitution of concepts.
Various tokens are continuously issued every year with various gimmicks.
Theoretically, the variety and quantity can be unlimited.
Therefore, the number of cryptocurrencies is increasing year by year and is infinite.
This is essentially no different from the fact that various sovereign currencies around the world can be printed and issued year by year.
Don’t have any belief in cryptocurrencies.
It is just a temporary money-making tool based on programming and encryption technology.
Bitcoin will eventually crash.
See original
Once takeoff, ten times the reach.
Binance News
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Binance Labs invests in Usual, promoting the adoption of decentralized financial systems
Binance Labs invests in Usual, which is a secure and decentralized RWA-backed stablecoin issuer that redistributes value and ownership through the $USUAL token.Usual is reshaping stablecoins through a community-first approach, innovative token economics, and DeFi-focused design. Traditional stablecoin issuers often operate like centralized banks, pooling liquidity without redistributing value to users. Usual empowers the community by sharing ownership, challenging this model. By committing 90% of $USUAL to users, Usual ensures that value circulates within the ecosystem, thereby promoting decentralized and fair financial models.
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Merrill Clock: We can view the survival method in the cryptocurrency world as based on the Bitcoin price cycle: spring planting, summer cultivation, autumn harvest, and winter storage. The general pattern of each cycle is: spring is the season for investment, summer is the time for reallocation, autumn is the moment for selling, and winter is the phase of waiting.
No coin is worth calling faith
Don’t have any belief in any currency.
It's all a play.
The so-called constant quantity and no inflation is just a substitution of concepts.
Various tokens are continuously issued every year with various gimmicks.
Theoretically, the variety and quantity can be unlimited.
Therefore, the number of cryptocurrencies is increasing year by year and is infinite.
This is essentially no different from the fact that various sovereign currencies around the world can be printed and issued year by year.
Don’t have any belief in cryptocurrencies.
It is just a temporary money-making tool based on programming and encryption technology.
Bitcoin will eventually crash.
It's all a play.
The so-called constant quantity and no inflation is just a substitution of concepts.
Various tokens are continuously issued every year with various gimmicks.
Theoretically, the variety and quantity can be unlimited.
Therefore, the number of cryptocurrencies is increasing year by year and is infinite.
This is essentially no different from the fact that various sovereign currencies around the world can be printed and issued year by year.
Don’t have any belief in cryptocurrencies.
It is just a temporary money-making tool based on programming and encryption technology.
Bitcoin will eventually crash.
See original
Currently, you can achieve the following goals with USUAL:
$USUAL
$USUAL As the crypto market and the project itself develop, the use cases of Usual may expand. Currently, you can use USUAL to achieve the following goals: Arbitrage by trading USUAL: Since USUAL is a frequently traded cryptocurrency, the price of USUAL is always fluctuating. Earn more USUAL by buying low and selling high on exchanges. Binance spot market offers a variety of USUAL trading pairs to fully meet your needs. Earn income by staking USUAL: You can also generate income through financial management methods such as staking USUAL or lending USUAL. Binance offers a variety of financial products designed to help you earn more income from USUAL. Send or pay USUAL: If you want to give USUAL to a friend, charity or fundraiser, or you want to pay someone with USUAL, you can quickly and easily send USUAL to the recipient through their payment address. You can also visit the official website of the Usual project to learn more about the use cases of USUAL. For example, find out if the project supports usage within its community or ecosystem, or if the project allows you to purchase physical or virtual products using $USUAL.
$USUAL As the crypto market and the project itself develop, the use cases of Usual may expand. Currently, you can use USUAL to achieve the following goals: Arbitrage by trading USUAL: Since USUAL is a frequently traded cryptocurrency, the price of USUAL is always fluctuating. Earn more USUAL by buying low and selling high on exchanges. Binance spot market offers a variety of USUAL trading pairs to fully meet your needs. Earn income by staking USUAL: You can also generate income through financial management methods such as staking USUAL or lending USUAL. Binance offers a variety of financial products designed to help you earn more income from USUAL. Send or pay USUAL: If you want to give USUAL to a friend, charity or fundraiser, or you want to pay someone with USUAL, you can quickly and easily send USUAL to the recipient through their payment address. You can also visit the official website of the Usual project to learn more about the use cases of USUAL. For example, find out if the project supports usage within its community or ecosystem, or if the project allows you to purchase physical or virtual products using $USUAL.
See original
Usual is an exception, value investment is the first choice.
What is VC coin and why should it be avoided?
In recent years, many people have developed a strong aversion to VC coins, but many do not know what VC coins are or why they are disliked. $VANA is a typical example of a VC coin, with the following characteristics:
1. It has seemingly advanced real projects, unlike meme coins which have no value besides speculation.
2. It has numerous large institutional investments, with a remarkable background.
3. It has an extremely low circulation, while having a large market value.
Due to these characteristics, many new investors see such impressive introductions and visible real projects and mistakenly believe that the tokens are very valuable and will rise significantly in the future. However, after buying in, they will find that these coins are all hype with little substance. Although the promotion is impressive, the actual market performance is extremely disappointing, as they typically continue to decline right after being listed. This is mainly due to the extremely low circulation and the large number of tokens awaiting unlock. Additionally, many large institutions participated in the financing at very low prices, and thus they often choose to immediately sell off their holdings every time tokens are unlocked. This leads to a sharp decline each time tokens are unlocked, and this decline generally does not stop until 80% of the tokens are unlocked. Meanwhile, these poor-quality coins also absorb a significant amount of liquid funds from the market, causing other tokens to rise slowly and fall rapidly. Therefore, VC coins are harmful to investors and also detrimental to other tokens. However, due to the greed of exchanges, they will continuously list VC coins to collect fees and cash out private placement coins, thereby harvesting retail investors.
In recent years, many people have developed a strong aversion to VC coins, but many do not know what VC coins are or why they are disliked. $VANA is a typical example of a VC coin, with the following characteristics:
1. It has seemingly advanced real projects, unlike meme coins which have no value besides speculation.
2. It has numerous large institutional investments, with a remarkable background.
3. It has an extremely low circulation, while having a large market value.
Due to these characteristics, many new investors see such impressive introductions and visible real projects and mistakenly believe that the tokens are very valuable and will rise significantly in the future. However, after buying in, they will find that these coins are all hype with little substance. Although the promotion is impressive, the actual market performance is extremely disappointing, as they typically continue to decline right after being listed. This is mainly due to the extremely low circulation and the large number of tokens awaiting unlock. Additionally, many large institutions participated in the financing at very low prices, and thus they often choose to immediately sell off their holdings every time tokens are unlocked. This leads to a sharp decline each time tokens are unlocked, and this decline generally does not stop until 80% of the tokens are unlocked. Meanwhile, these poor-quality coins also absorb a significant amount of liquid funds from the market, causing other tokens to rise slowly and fall rapidly. Therefore, VC coins are harmful to investors and also detrimental to other tokens. However, due to the greed of exchanges, they will continuously list VC coins to collect fees and cash out private placement coins, thereby harvesting retail investors.
See original
The Federal Reserve's expectation for four rate cuts next year has been downgraded to two, with a total annual rate cut of 0.5%, or 50 basis points, which is significantly lower than expected, resulting in a sharp decline in US stocks.
金十数据APP
--
Tonight, waiting for the Fed to 'release the hawk'?
The Federal Reserve is expected to lower borrowing costs on Thursday, with some observers calling it a 'hawkish rate cut.' This rate cut will be announced alongside updated interest rate outlooks and economic forecasts from policymakers, covering the initial months after the Trump administration took office.
The anticipated 25 basis point rate cut would lower the Fed's benchmark rate to a range of 4.25%-4.50%, one percentage point lower than the level when it began easing monetary policy in September to address the inflation surge that started in 2021.
How much rates will decline next year and how quickly remains increasingly uncertain. Inflation is still above the Fed's 2% target, economic growth is faster than expected, and the tariffs, taxes, and immigration policies of President-elect Trump may unpredictably alter the economic landscape after he takes office in January.
The anticipated 25 basis point rate cut would lower the Fed's benchmark rate to a range of 4.25%-4.50%, one percentage point lower than the level when it began easing monetary policy in September to address the inflation surge that started in 2021.
How much rates will decline next year and how quickly remains increasingly uncertain. Inflation is still above the Fed's 2% target, economic growth is faster than expected, and the tariffs, taxes, and immigration policies of President-elect Trump may unpredictably alter the economic landscape after he takes office in January.
See original
Only suitable for people in the Greater Bay Area.
金十数据APP
--
【Cross-border Wealth Management Link Reignites Account Opening Wave, Focusing on Three Major Product Categories】Jin Shi Data, December 19 - Recently, since the launch of the Cross-border Wealth Management Link 2.0 version, the first batch of securities companies has officially started operations and welcomed a surge in investor account openings. The head of business at a listed brokerage in South China told reporters that the Cross-border Wealth Management Link is the first interconnection mechanism exclusively opened to individual investors, which has been well received by residents of the Guangdong-Hong Kong-Macao Greater Bay Area, with some investors bringing their entire families to open accounts. The available products include deposits, wealth management products, mutual funds, etc., and do not occupy the $50,000 foreign exchange quota or the QDII fund quota restrictions. Currently, there is a strong demand among residents in our country for overseas asset allocation, but selecting investment products remains a major challenge. Through various investigations, reporters learned that from the products listed by the first batch of Cross-border Wealth Management Link 2.0 version brokerages, foreign currency deposit wealth management, US dollar money market funds, and passive index funds are the three most representative products, while active equity products are relatively few. (Brokerage China) (Source: Jin Shi Data)
See original
The script for this coin has been written: This is a value investment coin, suitable for long-term holding without leverage. It will steadily appreciate in value, allowing spot holders to slowly become rich. It will make long buyers wealthy, make short sellers lose money, and bankrupt those who short with leverage.
Binance Announcement
--
Binance Finance, One-click Coin Purchase, Flash Exchange, Leverage, Contract Launch Usual (USUAL)
This is a general announcement and the products and services mentioned here may not be available in your area.
Dear User:
To provide users with more choices, Binance Finance, One-Click Coin Purchase, Flash Exchange Trading Platform, Leverage, Fixed Investment Platform and Binance Futures will launch Usual (USUAL) according to the timeline listed below. You are invited to experience it!
Binance Finance
The USUAL principal-guaranteed coin-earning product has been launched on Binance’s principal-guaranteed coin-earning platform and is open for subscription at 19:00 (ET) on December 18, 2024.
Starting from 18:00 (GMT+8) on December 19, 2024, users can purchase USUAL through any payment method supported by Binance Fixed Investment.
Dear User:
To provide users with more choices, Binance Finance, One-Click Coin Purchase, Flash Exchange Trading Platform, Leverage, Fixed Investment Platform and Binance Futures will launch Usual (USUAL) according to the timeline listed below. You are invited to experience it!
Binance Finance
The USUAL principal-guaranteed coin-earning product has been launched on Binance’s principal-guaranteed coin-earning platform and is open for subscription at 19:00 (ET) on December 18, 2024.
Starting from 18:00 (GMT+8) on December 19, 2024, users can purchase USUAL through any payment method supported by Binance Fixed Investment.
See original
The script for this coin has been written: This is a value investment coin, suitable for long-term holding without leverage. It will steadily appreciate in value, allowing spot holders to slowly become rich. It will make long buyers wealthy, make short sellers lose money, and bankrupt those who short with leverage.
Binance Announcement
--
Binance Finance, One-click Coin Purchase, Flash Exchange, Leverage, Contract Launch Usual (USUAL)
This is a general announcement and the products and services mentioned here may not be available in your area.
Dear User:
To provide users with more choices, Binance Finance, One-Click Coin Purchase, Flash Exchange Trading Platform, Leverage, Fixed Investment Platform and Binance Futures will launch Usual (USUAL) according to the timeline listed below. You are invited to experience it!
Binance Finance
The USUAL principal-guaranteed coin-earning product has been launched on Binance’s principal-guaranteed coin-earning platform and is open for subscription at 19:00 (ET) on December 18, 2024.
Starting from 18:00 (GMT+8) on December 19, 2024, users can purchase USUAL through any payment method supported by Binance Fixed Investment.
Dear User:
To provide users with more choices, Binance Finance, One-Click Coin Purchase, Flash Exchange Trading Platform, Leverage, Fixed Investment Platform and Binance Futures will launch Usual (USUAL) according to the timeline listed below. You are invited to experience it!
Binance Finance
The USUAL principal-guaranteed coin-earning product has been launched on Binance’s principal-guaranteed coin-earning platform and is open for subscription at 19:00 (ET) on December 18, 2024.
Starting from 18:00 (GMT+8) on December 19, 2024, users can purchase USUAL through any payment method supported by Binance Fixed Investment.
See original
As long as interest rates are lowered, we'll see how things go next year.
Goodbye 'Black Thursday', the correction phase begins
Two major events occurred overnight. The Federal Reserve announced a 25 basis point interest rate cut. Additionally, it hinted that the number of rate cuts over the next 25 years may be lower than expected. As a result, both the U.S. stock market and cryptocurrencies plummeted. $BTC fell below $100,000, with Meme coins plummeting by 20% in numerous cases, and the Dow Jones Industrial Average dropped by 2.59%, setting a record for the longest single-day consecutive decline in 50 years.
Just from the hawkish stance exhibited by the Americans last night, it truly caused panic in the market. Hawkish signals indicate that monetary easing will be limited, which will lead to market funds flowing back from the crypto market to traditional assets, significantly impacting both trading depth and liquidity. At an extreme point, a large cash-out sell order from a major player could very likely trigger a sharp drop in coin prices.
Just from the hawkish stance exhibited by the Americans last night, it truly caused panic in the market. Hawkish signals indicate that monetary easing will be limited, which will lead to market funds flowing back from the crypto market to traditional assets, significantly impacting both trading depth and liquidity. At an extreme point, a large cash-out sell order from a major player could very likely trigger a sharp drop in coin prices.
See original
No interest rate increase next year.
Binance News
--
The Fed's hawkish stance may affect the Bank of Japan's rate hike decision
According to Jinshi Data, Christopher Wong, foreign exchange strategist at OCBC Bank, said that the Fed's tough stance was a good time for the Bank of Japan to raise interest rates. However, the Fed's pause in rate hikes and the Bank of Japan's reluctance may lead to upward pressure on USD/JPY.
Price-related data and labor market reports continue to support the Bank of Japan's rate hikes. The Federal Reserve turned more hawkish at yesterday's meeting, which should also give Bank of Japan policymakers a little more confidence in raising rates.
Price-related data and labor market reports continue to support the Bank of Japan's rate hikes. The Federal Reserve turned more hawkish at yesterday's meeting, which should also give Bank of Japan policymakers a little more confidence in raising rates.
See original
No leeks are allowed to make money, they can only be cut in the A-shares.
$USUAL
Will Bitcoin be legalized in China tomorrow? I'm so nervous.
If legalized, 300 million fresh investors will enter the market.
Will BTC rise to 200,000?
Central Bank's Yao Qian: Bitcoin lacks a value anchor and cannot become real currency.
Former Director of the Technology Supervision Bureau of the Securities Regulatory Commission, Yao Qian, was 'double-opened': engaged in power and money transactions using virtual currency and other means.
#USUAL现货上线币安
Will Bitcoin be legalized in China tomorrow? I'm so nervous.
If legalized, 300 million fresh investors will enter the market.
Will BTC rise to 200,000?
Central Bank's Yao Qian: Bitcoin lacks a value anchor and cannot become real currency.
Former Director of the Technology Supervision Bureau of the Securities Regulatory Commission, Yao Qian, was 'double-opened': engaged in power and money transactions using virtual currency and other means.
#USUAL现货上线币安
See original
#usual现货质押 half position shorting with double, half position spot collateral, earn coins without loss, can enter or exit, a very good strategy.
#USUAL现货上线币安 Dear partners, the staking tutorial is here!\n1. Open the official website and find the place shown in picture one to click, or directly click swap on the three lines in the upper left, using your USDC or USDT to exchange for $USUAL (remember it's on the Ethereum mainnet, and leave a little extra gas, as it's expensive)\n2. Click on the place shown in picture two to stake your $USUAL to become usualx.\n3. Updates will happen daily at 4 AM, and after 7 days you can withdraw the earned $USUAL .\n4. Thank you all for watching, please take a moment to follow me, let me reach 100 followers, thank you!
See original
The more people who pledge $USUAL , the less is in circulation! The quantity is deflationary and will continue to decrease, so the price of the currency will rise accordingly.
#USUAL现货上线币安 I believe this time $USUAL a bunch of people got confused, including me who is also a bit confused. What I want to discuss with my friends is whether we should stake $USUAL . My answer is that if you are optimistic in the long term, you should stake; the profits will be very good.
Let's first look at the advantages of staking:
1. Daily minting USD0++ 10% distribution rights.
2. 33% handling fee revenue.
3. Governance rights, which we won't discuss, but they exist.
4. $USUAL will produce less as the price rises and more as it falls, meaning there will be stable returns.
5. Currently very high apy, as shown in Figure 1.
Now let's look at the disadvantages:
1. You can exit at any time, but will incur a 10% fee.
I believe many friends will be hesitant about this point, but what I want to say is, will there not be a DEX to exchange in the future? I believe if there is an exit, it will be less than 10%. We are currently in the early mining stage; if you can rush, then rush. If you are worried about high prices, you can hedge or borrow (currently there are no coins left). This round of the bull market is mainly focused on rwa; we are on the cutting edge, so please do not be afraid!
Friends, if you find this article helpful, please follow and like, give me some encouragement. I will regularly share my operational insights. Thank you!
Let's first look at the advantages of staking:
1. Daily minting USD0++ 10% distribution rights.
2. 33% handling fee revenue.
3. Governance rights, which we won't discuss, but they exist.
4. $USUAL will produce less as the price rises and more as it falls, meaning there will be stable returns.
5. Currently very high apy, as shown in Figure 1.
Now let's look at the disadvantages:
1. You can exit at any time, but will incur a 10% fee.
I believe many friends will be hesitant about this point, but what I want to say is, will there not be a DEX to exchange in the future? I believe if there is an exit, it will be less than 10%. We are currently in the early mining stage; if you can rush, then rush. If you are worried about high prices, you can hedge or borrow (currently there are no coins left). This round of the bull market is mainly focused on rwa; we are on the cutting edge, so please do not be afraid!
Friends, if you find this article helpful, please follow and like, give me some encouragement. I will regularly share my operational insights. Thank you!
See original
The prospects for stablecoin merchant $USUAL are bright.
Can you imagine #pengu having nothing, buying an L2 ecosystem that hasn't even launched with a market cap of 5 billion? $USUAL already has 1 billion TVL in USD, real money lying in the bank, and its market cap is only 500 million++. Can you believe it? It is backed by Ena and BlackRock, and strictly speaking, the boss behind it is the same one.
Collusion between officials and businesses is bound to make them rich. Trump is even going to collaborate with #ena .
Trump and Europe have proposed to use Bitcoin as national reserve currency. If this happens, what is the first step to buy Bitcoin? It's to buy stablecoins, giving usual money to mint USD0. Ena cannot mint and can only short ETH to get USDE.
If it has the same FDV as Ena, usual is 4u. We only calculate the market cap for usual as 3u, which is 1.5 billion, while Ena is currently at 3 billion. See clearly, there is still a lot of room for growth for the 2u usual.
Collusion between officials and businesses is bound to make them rich. Trump is even going to collaborate with #ena .
Trump and Europe have proposed to use Bitcoin as national reserve currency. If this happens, what is the first step to buy Bitcoin? It's to buy stablecoins, giving usual money to mint USD0. Ena cannot mint and can only short ETH to get USDE.
If it has the same FDV as Ena, usual is 4u. We only calculate the market cap for usual as 3u, which is 1.5 billion, while Ena is currently at 3 billion. See clearly, there is still a lot of room for growth for the 2u usual.
See original
Usual long-term value investment, BlackRock investment.
$USUAL
Stablecoins have been very strong these two days, rising against the trend. Previously, there were $ENA , and now it is usual. The bull market is the world of stablecoins❗❗
Although the overall correction of cottage industries is very severe now, the bull market is the bull market
#USUAL现货上线币安 #ENA走势分析
Stablecoins have been very strong these two days, rising against the trend. Previously, there were $ENA , and now it is usual. The bull market is the world of stablecoins❗❗
Although the overall correction of cottage industries is very severe now, the bull market is the bull market
#USUAL现货上线币安 #ENA走势分析
See original
Black Swan Event in the Altcoin Market.
Quoted content has been removed
See original
First, register an account on the compliance platform to verify your identity, then deposit your virtual assets and withdraw them through legal channels. If you want to bring money back to the mainland, remember to do it in small batches.
It is legal for mainland residents to withdraw money in Hong Kong, but you must follow the rules. This way, you can enjoy the freedom of cryptocurrency while avoiding potential risks. Hong Kong is our gateway to the global cryptocurrency market, but safety and compliance are always our bottom line for cross-border withdrawals.
It is legal for mainland residents to withdraw money in Hong Kong, but you must follow the rules. This way, you can enjoy the freedom of cryptocurrency while avoiding potential risks. Hong Kong is our gateway to the global cryptocurrency market, but safety and compliance are always our bottom line for cross-border withdrawals.
Is it legal for mainland residents to withdraw cryptocurrency in Hong Kong?
How can we do it safely and in compliance?
With the rise of cryptocurrency globally, Hong Kong has become increasingly attractive to mainland investors due to its open policies. However, we need to clarify a few key points regarding withdrawals.
The policies regarding virtual assets in Hong Kong are quite friendly. Starting in 2023, the Hong Kong SFC stated that ordinary people can buy and sell virtual assets through certified trading platforms.
On the mainland, since 2021, trading and mining of virtual currencies have been banned, but the government has not explicitly prohibited individuals from holding virtual assets. Therefore, legally speaking, mainland residents can hold cryptocurrency in Hong Kong.
However, one pitfall to be aware of is cross-border fund flows. If we exchange the withdrawn cryptocurrency into fiat currency and then try to transfer it back to a mainland account, we need to be cautious. The mainland has strict foreign exchange controls, especially for large amounts of money, and if not handled properly, it could attract scrutiny. Thus, the legality of withdrawing cryptocurrency not only depends on the regulations in Hong Kong but must also comply with mainland rules.
We also need to be aware of the risks involved. First, there could be compliance issues arising from cross-border fund flows; second, there is the legitimacy of the funds; third, the security of the trading platform. If we inadvertently choose an unregulated platform, we risk losing our money or the platform shutting down, which would be disastrous.
So, what to do? My suggestion is to choose a licensed trading platform certified by the Hong Kong Securities and Futures Commission for safety assurance. When withdrawing funds and transferring money, avoid making large transactions in one go; instead, do it in batches to minimize risk. Keep good records of your transactions; in case of an audit, we will have evidence. Stay updated on policy changes; don't wait until something goes wrong to find out.
Specifically, the process involves first registering an account on a compliant platform, verifying your identity, and then depositing your virtual assets before withdrawing through legal channels. If you need to transfer money back to the mainland, remember to do it in small batches.
It is legal for mainland residents to withdraw cryptocurrency in Hong Kong, but it must be done according to the rules. This way, we can enjoy the freedom of cryptocurrency while avoiding potential risks. Hong Kong is our gateway to the global cryptocurrency market, but safety and compliance are always our bottom line for cross-border withdrawals.
For more insights on cryptocurrency, click my profile and follow me for more updates. Discover high-potential cryptocurrencies and daily spot trading strategies!
#BTC再创新高 #PENGU开盘 #币安Alpha
How can we do it safely and in compliance?
With the rise of cryptocurrency globally, Hong Kong has become increasingly attractive to mainland investors due to its open policies. However, we need to clarify a few key points regarding withdrawals.
The policies regarding virtual assets in Hong Kong are quite friendly. Starting in 2023, the Hong Kong SFC stated that ordinary people can buy and sell virtual assets through certified trading platforms.
On the mainland, since 2021, trading and mining of virtual currencies have been banned, but the government has not explicitly prohibited individuals from holding virtual assets. Therefore, legally speaking, mainland residents can hold cryptocurrency in Hong Kong.
However, one pitfall to be aware of is cross-border fund flows. If we exchange the withdrawn cryptocurrency into fiat currency and then try to transfer it back to a mainland account, we need to be cautious. The mainland has strict foreign exchange controls, especially for large amounts of money, and if not handled properly, it could attract scrutiny. Thus, the legality of withdrawing cryptocurrency not only depends on the regulations in Hong Kong but must also comply with mainland rules.
We also need to be aware of the risks involved. First, there could be compliance issues arising from cross-border fund flows; second, there is the legitimacy of the funds; third, the security of the trading platform. If we inadvertently choose an unregulated platform, we risk losing our money or the platform shutting down, which would be disastrous.
So, what to do? My suggestion is to choose a licensed trading platform certified by the Hong Kong Securities and Futures Commission for safety assurance. When withdrawing funds and transferring money, avoid making large transactions in one go; instead, do it in batches to minimize risk. Keep good records of your transactions; in case of an audit, we will have evidence. Stay updated on policy changes; don't wait until something goes wrong to find out.
Specifically, the process involves first registering an account on a compliant platform, verifying your identity, and then depositing your virtual assets before withdrawing through legal channels. If you need to transfer money back to the mainland, remember to do it in small batches.
It is legal for mainland residents to withdraw cryptocurrency in Hong Kong, but it must be done according to the rules. This way, we can enjoy the freedom of cryptocurrency while avoiding potential risks. Hong Kong is our gateway to the global cryptocurrency market, but safety and compliance are always our bottom line for cross-border withdrawals.
For more insights on cryptocurrency, click my profile and follow me for more updates. Discover high-potential cryptocurrencies and daily spot trading strategies!
#BTC再创新高 #PENGU开盘 #币安Alpha
See original
PANews December 18 news, according to Lookonchain monitoring, BlackRock's spot Ethereum ETF, the iShares Ethereum Trust ETF, currently holds over 1 million ETH, totaling 1,025,378 ETH (approximately $4.04 billion).
PANews
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BlackRock's Spot Ethereum ETF Currently Holds Over 1 Million ETH, Valued at Over 4 Billion USD
PANews December 18 news, according to Lookonchain monitoring, BlackRock's spot Ethereum ETF, the iShares Ethereum Trust ETF, currently holds over 1 million ETH, totaling 1,025,378 ETH (approximately 4.04 billion USD).
See original
The legal perspective holds that the illegality of bypassing restrictions mainly lies in the use of illegal channels, while trading cryptocurrencies itself is not illegal; it is unreasonable to deem subsequent gains as illegal income solely based on the act of bypassing restrictions.
PANews
--
A public security bureau in a certain region of the country confiscated 90,000 yuan of illegal gains on the grounds of 'bypassing the Great Firewall and trading cryptocurrency.'
PANews reported on December 18 that, according to the WeChat official account of Lawyer Wu Enxiang's team, a public security bureau in a certain region of the country declared the act of trading Bitcoin through a VPN as illegal, based on the 'bypassing the Great Firewall and trading cryptocurrency' case. In the case, an individual named Zhang used a VPN to access foreign trading platforms and made a profit of 90,000 yuan from virtual currency transactions. According to the 'Interim Regulations on the Administration of International Networking of Computer Information Networks' and the 'Public Security Administration Punishment Law,' the public security bureau confiscated his illegal gains of 90,000 yuan and imposed a fine of 15,000 yuan, while also confiscating the tools used in the crime, including his phone and computer.
The dispute in the case is whether the act of bypassing the Great Firewall can be directly linked to the subsequent profits from cryptocurrency trading, and whether such profits can be deemed illegal gains. Legal opinions suggest that the illegality of bypassing the Great Firewall primarily lies in the use of illegal channels, while cryptocurrency trading itself is not illegal. It lacks rationality to classify subsequent profits as illegal gains solely based on the act of bypassing the Great Firewall.
The dispute in the case is whether the act of bypassing the Great Firewall can be directly linked to the subsequent profits from cryptocurrency trading, and whether such profits can be deemed illegal gains. Legal opinions suggest that the illegality of bypassing the Great Firewall primarily lies in the use of illegal channels, while cryptocurrency trading itself is not illegal. It lacks rationality to classify subsequent profits as illegal gains solely based on the act of bypassing the Great Firewall.
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