Industrial and Commercial Bank of China (ICBC) Responds to User Transfer Note "Dogecoin": High Risk Detected, Account Will Be Set to "No Receipt, No Payment" Status
BlockBeats News, December 12th. According to China Newsweek, several months ago, Ms. Yu and her husband transferred 250 yuan pocket money to each other through the China Construction Bank, with the note "Dogecoin this week," triggering a bank investigation and account freeze. Recently, the couple received phone calls from CCB staff to verify their relationship and the reason for the transfer note, stating that the note triggered "virtual currency control," and their account would be set to a "no receipts, no payments" status.
The bank staff informed Ms. Yu that to unfreeze the account, she needs to submit her husband's bank card statements from those months, pass the review, and then write a commitment letter stating that the previous transactions were not related to virtual currency and they will not engage in virtual currency transactions in the future. Her husband, strongly objecting to the account restrictions, is currently in discussions with the bank staff.
In response, a CCB staff member from the Dalian branch where Ms. Yu's husband holds an account stated that if the account is involved in virtual currency transactions, the bank will impose a "no receipts, no payments" control on the account. If the transfer note mentions "Dogecoin," materials must be provided to prove that the note is not related to virtual currency. However, the challenge lies in how to prove this. If only bank statements are provided, they cannot serve as valid proof, so these controlled accounts cannot be unfrozen and can only be closed. As for the specific regulations, the other party did not respond clearly.
Currently, Ms. Yu has submitted her husband's bank statements and a handwritten commitment letter, and is applying to lift the account restriction; the CCB staff member at her husband's branch replied that once they submit their marriage certificate, they can apply to lift the restriction.
According to Xinhua News Agency, on December 5th, the China Internet Finance Association and seven other associations jointly issued a risk warning, requiring all member units not to participate in domestic virtual currency, real-world asset token issuance, and trading activities, and reminding the public to discern risks, stay away from illegal activities.
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