Today I saw a lot of friends talking about U Cards, especially about the potential legal risks in China. Actually, these risks are almost non-existent because U Cards themselves are foreign exchange cards denominated in foreign currency. In other words, when you use a U Card, the logic isn’t about using USDT or USDC or other cryptocurrencies, but rather foreign currencies like USD for settlement. On the backend, merchants actually receive their local currency. The settlement of U Cards and foreign exchange is done upfront, usually when you top up your U Card, stablecoins or other cryptocurrencies are already converted into fiat currency before settlement happens. So merchants won’t know you’re settling with cryptocurrency; at most, they’ll know you’re using an overseas “card” or foreign exchange for settlement. The biggest issue lies here: if you use a U Card to buy goods worth over $50,000, like a luxury car, the risk control trigger isn’t the U Card itself but the excessive use of USD, which could be seen as disguised currency exchange or exceeding foreign exchange limits. This essentially has nothing to do with the U Card. @bitget VIP, lower fees, bigger perks