Is it legal to buy and sell u coins on the platform? Which platforms are legitimate?

Platform buying and selling U coins is illegal in China, and there is no formal platform that provides this service. Informal platform transactions involve risks such as legal, financial security and price fluctuations.

The legal status of the platform’s buying and selling of U coins

In China, it is illegal for the platform to buy and sell U coins. In September 2017, seven ministries and commissions including the People's Bank of China issued the "Announcement on Preventing Token Issuance and Financing Risks", which explicitly prohibited token issuance and financing and required companies that had already carried out token issuance and financing to immediately stop all token issuance and financing activities.

Formal platform

Since buying and selling U coins on the platform is illegal in China, there is no formal platform. The following are some platforms that claim to provide U-coin trading services, but please note that these platforms may be risky:

• Binance
• Huobi Global
• OKEx
• Coinbase
• Kraken

Risk

In the informal The platform's buying and selling of U coins may involve the following risks:

• Legal risks: The platform's buying and selling of U coins is illegal, and participants may face fines or even criminal penalties.
• Fund security risks: Informal platforms lack supervision and fund security cannot be guaranteed.
• Price Fluctuation Risk: Cryptocurrency prices fluctuate violently, and you may suffer greater losses when trading on informal platforms.

Tether USDt Price Increase

As of 09:00 UTC, Tether USDt (USDT) is priced at $1.00042, with a market cap of $1,154.5 billion and 24-hour trading volume of $733.1 billion.

Recent Changes

USDT price is up 0.01459% in the last 24 hours. The gains may be attributed to improving market sentiment and increased demand for U.S. dollar-denominated stablecoins.

Price Analysis

USDT price is typically closely tied to the value of the US dollar, as it is designed to always be anchored at $1.00. However, during periods of extreme market volatility, USDT’s premium can sometimes be above or below $1.00.

Investor Guidance

USDT is a good choice for investors looking for USD-denominated stability with less volatility.

Short Term Forecast

USDT price is expected to continue to fluctuate around the $1.00 anchor in the short term.

Indicator

• Current price: 1.00042 USD
• 24-hour trading volume: 733.1 billion USD
• Circulation volume: 1,154 billion USDT
• Market capitalization: 1,154.5 billion US dollars

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