Card unlocking case: more than 5 million frozen by selling coins, team lawyers successfully unlocked the card in one month

In the middle of April this year, the team received an inquiry from the client Qi Moumou, saying that his bank card was frozen by the public security authorities in four places respectively because he sold USDT in a platform.

Card unlocking case: more than 5 million frozen by selling coins, team lawyers successfully unlocked the card in one month

Basic facts of the case

In mid-April this year, the team received an inquiry from a client, Qi, who said that his bank card had been frozen by the public security authorities in four places because he was selling USDT on a certain platform, and the total amount frozen was more than 5 million. We studied his case and found that the withdrawal and deposit were still normal, and suggested him to prepare relevant materials to deal with it on his own. Under our suggestion, Qi Moumou unfroze three places smoothly after the public security, but the unfrozen work was stuck in a central province and city, because the frozen amount was large and involved digital currency trading, the relevant personnel of the frozen local public security department mistakenly thought that the digital currency trading behavior itself from some policy documents illegal. Therefore, the real transaction of the card was not recognized, and the card was considered to be a suspected crime. Although the person himself has communicated with the public security authorities who executed the freezing act for many times to explain, lacking professional legal knowledge and knowledge in the industry, the public security authorities never unfroze his bank card.

Because the frozen amount is large, the long-term frozen bank card has brought a lot of inconvenience to the daily life and work of the party. The client approached our lawyer team and entrusted our team with the full authority to handle the card matters, hoping to solve the problem as soon as possible.

Case Handling

After accepting the assignment, considering the large amount of money on the bank card and the fact that every day of delay affected the client’s life. Our team immediately set up a special team to unfreeze the card. After preparing very detailed evidence materials, we immediately wrote a complaint opinion and a legal opinion, and contacted the frozen public security authorities several times to argue the legality of the digital currency transaction, but the frozen public security authorities still did not recognize the relevant materials we submitted.

Therefore, considering that it is sometimes difficult to present the paper materials in detail, we immediately arranged for our lawyers to go to the public security bureau where the frozen bank cards are located, and submitted the materials to the police officer in person and had an in-depth communication, mainly explaining to him the relevant policies of China’s digital currency, explaining that digital currency trading itself is not illegal and belongs to the normal trading behavior of citizens. Through repeated communication and argumentation, the local public security bureau officer approved our professional interpretation of the legal knowledge related to digital currency.

However, because the frozen case was the first bank card freezing case involving digital currency transactions in the local jurisdiction and the funds were large, the leaders of the local public security authorities were very cautious about unfreezing the cards.

In the end

Crypto digital currency trading is still a relatively niche trading behavior, and its legal attributes and regulatory research are still difficult issues in academic research. We believe that cryptographic digital currency, as a virtual asset with market value, should be allowed to be legally held and legitimately traded by citizens in the absence of clear legal regulations.

However, since the current market price of digital currencies is extremely volatile, we suggest that people who do not know much about them should not invest in this field. More importantly, the current digital currency trading market is mixed, and based on its anonymity and other characteristics, this field is mostly involved in money laundering, fraud and other criminal acts, and there is a risk of criminalization if the general public gets involved in it.

Posted by:CoinYuppie,Reprinted with attribution to:
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