While the cryptocurrency regulatory environment in the United States is gradually loosening, China is tightening controls at the retail banking level. Many social media users report that simply mentioning “Dogecoin” or “USDT” in transfer notes can lead to account freezes.
According to Techub.info, two customers of China Construction Bank — the third-largest bank in the world — had their accounts locked after transferring 250 yuan with the note “Dogecoin this week.” The transaction was flagged under the crypto risk control program.
On Rednote, users warn against mentioning Bitcoin, memecoins, or USDT when transferring money. To unlock the account, the owner must prove the funds are not used to buy cryptocurrencies and wait for approval, which can take several weeks. This has made Chinese investors increasingly cautious.
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