China Construction Bank responds to user transfer note Dogecoin being locked: High risk detected, the account will be set to "No receipt, no payment" status

On December 12, according to China News Weekly, a few months ago, Ms. Yu and her husband transferred 250 yuan as pocket money via the China Construction Bank, with the note “This week’s Dogecoin,” which led to the bank investigating and locking their accounts. Recently, both received calls from CCB staff to verify their relationship and the reason for the transfer note, and they stated that the note triggered “virtual currency control,” and the account would be set to a “no deposit, no withdrawal” status. The staff at the account-opening branch told Ms. Yu that to unfreeze the account, she needs to submit her husband’s bank statement for those months, and after approval, she must write a letter of commitment promising that the previous transactions were not related to virtual currencies and that they will not participate in virtual currency transactions in the future. Her husband, strongly opposed to the direct restriction of account use, is currently negotiating with the staff at his account-opening branch. In response, on December 10, China News Weekly called the China Construction Bank customer service hotline for consultation. The staff said they had not yet received any information related to virtual currency control and advised to inquire at the relevant branch for specific details. Subsequently, China News Weekly contacted a branch of CCB in Tianjin where Ms. Yu’s account is held, and staff there said they were unaware of the situation. However, staff at a Dalian branch of CCB where her husband’s account is held stated that if the account involves virtual currency transactions, the bank will implement “no deposit, no withdrawal” control. If the transfer note mentions “Dogecoin,” proof materials must be provided to demonstrate that the note is unrelated to virtual currencies. But the problem is how to prove this; if only bank statements are available, they cannot serve as valid proof. Therefore, such controlled accounts cannot be unfrozen and can only be closed. As for the specific regulations, the other party did not give a clear response. Currently, Ms. Yu has submitted her husband’s bank statements and a handwritten letter of commitment, and is applying to lift the account restrictions; her husband’s account-opening branch staff replied that after submitting their marriage certificate, they can apply to lift the restrictions. According to Xinhua News Agency, on December 5, the China Internet Finance Association and six other associations jointly issued a risk warning, requiring member units not to participate in virtual currency, real-world asset token issuance, and trading activities within the country, and reminding the public to identify risks and stay away from illegal activities.