Blockchain&Crypto NEWS
There have been many things happening in cryptocurrency this year. For example, "Dogecoin" was born by meme and was touted, PayPal opened up cryptocurrency transactions, and Tesla said that it would accept Bitcoin but suddenly stopped. The latest case also claims that Binance, the world's largest cryptocurrency trading platform, has been targeted by the US Department of Justice and the Revenue Service, saying that they may be related to money laundering activities.
According to a Bloomberg report, some people familiar with Binance's business were called to answer some possible questions about money laundering. However, there is still no direct confirmation that Binance is involved in criminal acts. CEO Changpeng Zhao responded without naming names on Twitter, saying that there were reports that described their company negatively, emphasizing that Binance was only "cooperating with law enforcement agencies to crack down on bad actors."
However, the behavior of cryptocurrency trading itself is not allowed by the United States to be conducted in China. At the same time, an analysis by Chainalysis, a website specializing in cryptocurrency crime, said that Binance is the largest illegal cryptocurrency trading platform in 2019. Bloomberg also mentioned that the US government is also investigating whether Binance accepts Americans to conduct transactions on it in an effort to avoid taxes, but this part can easily be bypassed by VPN restrictions.
As cryptocurrencies become more and more popular, the US government will naturally be more worried that criminals will use this unregulated method of money flow to deal with illegal income, including tax evasion. However, since it is not allowed and has to be supervised, this kind of legal dilemma is also to be resolved by the judiciary. Binance was established in China in 2017, and later moved to Japan after being banned from trading in cryptocurrencies, and finally to the Cayman Islands, a tax haven, but the transactions processed came from all over the world.
After we conduct digital currency transactions, we may exchange digital currency for ordinary legal currency, because legal currency can be used to shop and buy real-world assets. However, if you withdraw cash at an illegal merchant when you withdraw cash, your bank card will be frozen until the case involved is resolved, which may take several years.
In order to prevent the bank card from being frozen, we can adopt another method. That is to build a reliable USDT wallet. Sell the digital currency in the currency circle to USDT, and then deposit the USDT in our digital wallet. In this way, we will put the money in the pocket, and then realize it through offline transactions. Remember to trade in cash. Or it may remain unchanged. The possibility of USDT's recent thunder should be very small, so you can put your money in your wallet for a long time.
If you are not short of money, it is not recommended to always cash out.
If you withdraw cash, put the money in your hands in the fund, P2P, etc. as soon as possible.
Money in these places will not be directly frozen. You can also use the money to repay the debt, so that the money is safe. You must remember that you must not use digital currency to do illegal and criminal things, and Skynet will restore the negligence without leaking.