While regulation continues to loosen around crypto in the United States, largely thanks to a president who accepts bribes via his own meme and stablecoins, the opposite is occurring in China.

Indeed, dozens of Chinese nationals have taken to social media to report that just putting “Dogecoin” or “USDT” in the memo field of a transfer ends with the bank account being frozen — and the individuals have almost no recourse for their money getting unfrozen thereafter.

Drastic difference in banking regulations

Despite the near total normalization of buying, selling, trading, and creating cryptocurrencies in the US — including a stablecoin endorsed and partially owned by the president — China and its retail banks…