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Chinese nationals are reporting that putting “Bitcoin,” “Dogecoin” or “USDT” in the memo field of a transfer causes the account to be frozen.
Protos
Host
headline, Chinese banks freeze accounts over crypto memos, published at 2.56 pm, March 2,
2026. While regulation continues to loosen around crypto in the United States,
largely thanks to a president who accepts bribes via his own meme and stablecoins,
the opposite is occurring in China. Indeed, dozens of Chinese nationals have taken to social media
to report that just putting dogecoin or USDT in the memo field of a transfer ends with the bank
account being frozen, and the individuals have almost no recourse for their money getting unfrozen
thereafter. Drastic difference in banking regulations. Despite the near total normalization of buying,
selling, trading, and creating cryptocurrencies in the US, including a stablecoin endorsed and
partially owned by the president. China and its retail banks have taken on a much stricter set of
rules and regulations. In one instance, according to a site called techub.info in China, two clients of
China Construction Bank, the third largest bank in the world, had their accounts frozen after
transferring a mere $250 yuan, or $35 between one another with the memo dogecoin this week.
After sending the money, the bank flagged the transfer under its virtual currency control
risk management program. RedNote users warn Chinese citizens. On RedNote, users are sharing
the story with words of warning for others in China. Never put bitcoin, virtual currency,
any meme coin, or USDT as the reason for a fun transfer, or you will absolutely face an account
freeze. Read more. China's regulation 42 forces Tether to kill its CNHT stablecoin.
They add that the only way to get one's bank account unfrozen is to prove to bank officials
that money wasn't in fact used to purchase cryptocurrencies. Write a statement as to why a
cryptocurrency was referenced and wait for the statements to be reviewed. The entire process
can take weeks to occur if the account is unfrozen at all. Needless to say, Chinese citizens are
being more cautious than ever before when it comes to using their bank accounts for cryptocurrency
trading. This recording is AI generated. Get more crypto news and investigations at Proto's.com.
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