Wanzhou Gold Industry lacks a clear legal basis for its operations in mainland China. According to the "Administrative Measures for the Import and Export of Gold and Gold Products," China implements a permit system for the import and export of gold and gold products, and has never approved any overseas institutions to directly provide precious metal trading services to mainland users.

   Although WZJY claims to be an AA-class member of the Hong Kong Gold Exchange and is regulated by relevant institutions in Hong Kong, its regulatory qualifications in Hong Kong cannot directly cover the mainland market. Its cross-border precious metal trading for mainland users is in clear conflict with China's foreign exchange management and precious metal trading regulatory policies. Users' rights and interests in participating in related transactions are difficult to be protected by mainland laws, and they need to bear potential legal and financial risks.

   Some users have reported that their personal bank accounts were frozen after completing transactions and withdrawing funds from World Gold. Although such situations may be related to the upgrade of the bank's anti-fraud system and the potential risks involved in the fund settlement path, the platform did not fully inform users of the relevant risks in advance, nor did it provide comprehensive unfreezing guidelines and assistance services. In summary, World Gold poses a high risk in cross-border transactions!