It is illegal to buy and sell U coins in China, and violators may face legal, financial and transaction risks. Currently, only registered digital currencies are allowed to be bought and sold on compliant exchanges, and participants should comply with relevant regulations.
Is it legal to buy and sell U coins on the platform in China?
No. in the country, buying and selling U coins is illegal.
Why is buying and selling U coins illegal in China?
On September 24, 2021, the People's Bank of China and other ten ministries and commissions jointly issued the "Notice on Further Preventing and Dealing with the Risks of Speculation in Virtual Currency Transactions", which clarified that virtual currency trading activities are illegal financial activities. U-coin is a virtual currency, so its buying and selling is also illegal.
What are the risks of buying and selling U coins?
- Legal risks: The act of buying and selling U coins is illegal in itself, and violators may face fines, detention or even criminal penalties.
- Funding risk: The virtual currency market is highly volatile, and prices are easily affected by regulatory policies, market sentiment and other factors. Buying and selling U Coins may result in loss of funds.
- Trading risks: Some platforms may have illegal activities such as fraud and money laundering, causing economic losses to traders.
How to participate in legal digital currency transactions?
Currently, our country only allows registered digital currencies to be bought and sold on compliant digital currency exchanges. When individuals participate in digital currency transactions, they should choose a compliant exchange and comply with relevant regulations.
Tether USDt Price Increase
As of 09:00 UTC, Tether USDt (USDT) is trading 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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