Buying and selling USDT is not illegal in China, but there are legal risks. The investment transaction of virtual currency is not protected by law, and investors should remain sober and rational. Virtual currency is not issued by the monetary authorities, has no monetary attributes such as compensation and coercion, has no legal status equivalent to currency, and cannot be used as currency in the market.

Legal Basis: Announcement on Preventing the Financing Risks of Token Issuance Article 5 The public should be highly alert to the hidden risks in the financing and trading of token issuance:

There are multiple risks in the financing and trading of token issuance, including false asset risk, business failure risk and investment speculation risk. Investors must bear their own investment risks, and hope that investors will beware of being deceived.

For all kinds of illegal financial activities carried out in the name of "currency", the public should strengthen their awareness of risk prevention and identification, and report relevant illegal clues in a timely manner.

It is illegal for individuals to buy and sell foreign exchange, and only financial institutions specially approved by the state can engage in foreign exchange trading. Because in China, the foreign exchange settlement and sale business needs the approval of the State Administration of Foreign Exchange, and foreign exchange trading must also be carried out in designated places.