How to convert Youle to Bitcoin into RMB

Bitcoins cannot be exchanged for RMB. According to the "Notice of the People's Bank of China, Ministry of Industry and Information Technology, China Banking Regulatory Commission, China Securities Regulatory Commission, and China Insurance Regulatory Commission on Preventing Bitcoin Risks"

"Notice" requirements, all financial institutions and Payment institutions are not allowed to price products or services in Bitcoin, are not allowed to buy or sell Bitcoin or act as a central counterparty for buying and selling Bitcoin, are not allowed to underwrite Bitcoin-related insurance business or include Bitcoin in the scope of insurance liability, and are not allowed to directly or indirectly provide customers with other Bitcoin-related products. Currency-related services, including: providing customers with Bitcoin registration, trading, clearing, settlement and other services;

Accepting Bitcoin or using Bitcoin as a payment and settlement tool; conducting exchanges between Bitcoin, RMB and foreign currencies. services; carry out Bitcoin storage, custody, mortgage and other businesses; issue Bitcoin-related financial products; use Bitcoin as an investment target for trusts, funds and other investments, etc.

In view of Bitcoin’s high risk of money laundering and the risk of being used by criminals, the “Notice” requires relevant institutions to effectively fulfill customer identities in accordance with the requirements of the “Anti-Money Laundering Law of the People’s Republic of China” Identify, suspicious transaction reporting and other legal anti-money laundering obligations to effectively prevent money laundering risks related to Bitcoin.