China2026.10.31TokenPost

Acting as Agent for or Promoting U-Card to Mainland China Users: A Foreign License Alone Does Not Guarantee Legality

• Shao Shiwei (Shanghai Mankun Law Firm) advises against acting as an agent for, promoting, or selling U-Cards to mainland China users.
• Chinese regulations restrict overseas entities from offering crypto-related services and associated online marketing support targeting mainland users, regardless of the issuer's foreign license.
• Wu Blockchain reposted Shao's analysis on October 31; the article notes that virtual credit card (VCC)/U-Card agents can handle not just introduction and sales but also consultation and pre- and post-sale service between overseas issuers and customers.