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" State

BlockBeats News, December 12th, according to China Newsweek, a few months ago, Ms. Yu and her husband transferred 250 yuan pocket money to each other via China Construction Bank, with the memo "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 memo, stating that the memo triggered "virtual currency control," causing the account to be set to a "no receipt, no payment" status.

The bank staff informed Ms. Yu that to lift the restriction, she needs to submit her husband's bank card transaction records for those months, pass the review, and then write a commitment letter pledging "no previous virtual currency transactions, and no future participation in virtual currency transactions." Her husband, however, strongly opposes the direct account restriction and is currently negotiating with the bank staff.

In response, a staff member at the CCB branch where Ms. Yu's husband holds an account in Dalian stated that if the account is involved in virtual currency transactions, the bank will impose "no receipt, no payment" control on the account. If the transfer memo mentions "Dogecoin," the account holder needs to provide evidence that the memo is unrelated to virtual currency. The challenge lies in how to prove this. Bank statements alone cannot serve as valid proof, so such restricted accounts cannot be unfrozen and can only be closed. As for the specific regulations, the other party did not provide a clear response.

Currently, Ms. Yu has submitted her husband's bank statements and a handwritten commitment letter and is in the process of applying to lift the account restriction; meanwhile, her husband's bank staff replied that once they submit their marriage certificate, they can apply to have the restriction lifted.

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 be aware of risks and stay away from illegal activities.