A friend wants to get their child a credit card before they turn 20, then casually spend a few thousand yuan, and deliberately delay paying it off for over six months, causing the card to become overdue. After six months of delinquency, the child's credit record will be permanently blacklisted. The credit recovery period is five years, meaning that before the age of 25, whether the child is in university or has just graduated, even if they go astray and try to get online loans, installment payments, or credit card overdrafts, they will be unable to obtain any of these, and will never have the opportunity to accumulate significant debt. Once the child turns 25, the negative credit record will automatically disappear, and nothing will be affected. My friend wants to prevent their child from falling into this trap using this method. Do you think it's feasible?

Here's an expert's perspective: Sharon (@sharonxmeng618), Financial Compliance Lawyer at Allbright Law, interprets this as follows: In recent years, both crypto-driven crimes (such as money laundering and fraud using crypto assets) and crypto-native crimes (such as hacking and rug pulls) have been on the rise. This series of legislative actions is a necessary response from regulators to upgrade their approach to these new types of crimes from "administrative prohibition" to "criminal regulation." Furthermore, we have noticed that the scope of "fraudulent trust activities" has been expanding in judicial practice in recent years. Against this backdrop, it is not recommended that Web3 practitioners and entrepreneurs treat "technological neutrality" as a legal exemption. Instead, they need to carefully separate their activities in relevant businesses. For example, they should strictly enforce KYC to substantially block domestic user IPs; establish anti-money laundering risk controls; and avoid participating in token market making and commission-based promotions for high-risk projects. x.com/BiteyeCN/status/20186457...…