Canada’s 2025 Budget Ushers in Stablecoin Regulations, Echoing US Innovations
Key Takeaways
- Canada’s federal budget for 2025 introduces new legislation to regulate fiat-backed stablecoins, mandating issuers to maintain adequate reserves and robust risk management practices.
- The Bank of Canada will invest $10 million over two years starting in 2026-2027 to oversee these regulations, with ongoing costs recovered from regulated stablecoin issuers.
- This move follows the US’s GENIUS Act passed in July, aiming to modernize payments and enhance security for digital transactions across Canada’s population.
- Institutional adoption of stablecoins is surging, with the market valued at $309.1 billion and projected to reach $2 trillion by 2028, as major players like Western Union and SWIFT integrate these assets.
- Platforms like WEEX are poised to benefit from such regulations, offering users a secure and compliant environment for stablecoin trading that aligns with evolving global standards.
Imagine a world where your everyday money moves as swiftly as a text message, without the headaches of high fees or endless waits at the bank. That’s the promise lurking behind Canada’s latest budget announcement, which is set to bring stablecoins into the regulatory fold. If you’ve been following the crypto space, you know stablecoins aren’t just digital curiosities anymore—they’re becoming the backbone of modern finance. And now, with Canada’s government stepping up, it’s like watching a cautious neighbor finally join the party after seeing how well it’s going next door in the US. Let’s dive into what this means for you, the everyday user, and why it’s a game-changer for the future of money.
Why Stablecoin Regulations Matter in Canada’s Financial Landscape
Stablecoins, those reliable digital tokens pegged to fiat currencies like the US dollar or, soon, perhaps the Canadian dollar, have been quietly revolutionizing how we think about money. Think of them as the steady bridge between the wild volatility of cryptocurrencies and the trustworthiness of traditional banking. In Canada’s 2025 budget, unveiled on a Tuesday that sent ripples through the financial world, the government outlined a clear path to regulate these fiat-backed stablecoins. Issuers will need to keep sufficient reserves on hand—ensuring that every digital coin is backed by real assets—and roll out solid redemption policies. On top of that, they’ll have to build comprehensive risk management frameworks, including safeguards for personal and financial data.
This isn’t just bureaucratic red tape; it’s about building trust. Picture it like this: if stablecoins were cars, these regulations are the seatbelts and airbags that make the ride safer for everyone. Without them, we’ve seen mishaps in the past—think of high-profile collapses that shook investor confidence. By following the US lead, where the GENIUS Act was passed nearly four months prior in July, Canada is positioning itself as a forward-thinking player in the global economy. The Bank of Canada is even earmarking $10 million over two years, kicking off in the 2026-2027 fiscal year, to make sure this rollout is smooth. After that, an estimated $5 million annually will be covered by fees from the stablecoin issuers themselves, all under the umbrella of the Retail Payment Activities Act.
For Canadians, this could mean faster, cheaper digital transactions that touch the lives of all 41.7 million people in the country. It’s part of a bigger push to modernize payments, making them more secure and efficient. Lucas Matheson, the CEO of Coinbase Canada, captured the excitement perfectly when he shared in an interview that this could “change how Canadians interact with money and the internet forever.” It’s not hard to see why—stablecoins offer a way to send money across borders without the usual friction, much like how email disrupted snail mail decades ago.
Following the US Lead: A Tale of Cross-Border Regulatory Harmony
It’s no coincidence that Canada’s stablecoin regulations are mirroring those in the United States. The US’s GENIUS Act, enacted in July, set a high bar by requiring similar reserve holdings and risk protections for stablecoin issuers. This put subtle pressure on Canada to keep pace, ensuring that North American financial systems stay aligned. Why does this matter? Well, in a world where money flows freely across borders, mismatched rules can create chaos—like trying to play a game where half the players follow different rulebooks.
Comparisons like this highlight the strengths of a unified approach. The US has seen explosive growth in stablecoin adoption post-regulation, with issuers gaining credibility and users flocking to compliant platforms. Canada, by adopting a similar framework, avoids the pitfalls of going solo. It’s akin to two allies coordinating their strategies in a shared battle against financial uncertainty. And let’s not forget the broader context: the stablecoin market is booming, sitting at a whopping $309.1 billion today. Back in April, the US Treasury projected it could skyrocket to $2 trillion by 2028. That’s not just numbers; it’s evidence of a seismic shift.
Institutional players are jumping on board, further validating this growth. Giants like Western Union, SWIFT, MoneyGram, and Zelle have either integrated stablecoin solutions or announced plans to do so in recent months. This isn’t hype—it’s real-world adoption. For instance, imagine a remittance service using stablecoins to cut transfer times from days to seconds, all while keeping costs low. That’s the kind of efficiency that’s drawing in big names and proving stablecoins’ worth beyond niche crypto circles.
Institutional Adoption and the Rise of Canadian Stablecoin Innovators
As stablecoins gain traction, institutional adoption is accelerating at a pace that’s hard to ignore. These aren’t fringe experiments anymore; they’re tools for established financial heavyweights. The integration by services like Western Union and SWIFT shows how stablecoins can streamline cross-border payments, reducing the friction that has plagued international money transfers for years. It’s like upgrading from a clunky old bicycle to a high-speed electric scooter—faster, smoother, and more reliable.
In Canada, this wave is cresting with homegrown innovations. Take Tetra Digital, a payments platform that’s making waves by raising $10 million to develop a digital version of the Canadian dollar. Backed by investments from major players like Shopify, Wealthsimple, and the National Bank of Canada, it’s a prime example of how local talent is stepping up. This comes at a pivotal time, especially since Canada shelved its plans for a central bank digital currency in September 2024. Bank of Canada Governor Tiff Macklem noted back then that there wasn’t a strong enough case to proceed, paving the way for private sector solutions like stablecoins to fill the gap.
But what about platforms that help everyday users navigate this space? Enter WEEX, a standout exchange that’s aligning perfectly with these regulatory shifts. WEEX emphasizes security and compliance, offering users a seamless way to trade stablecoins while adhering to best practices. In a landscape where regulations are tightening, WEEX stands out by prioritizing user protection and transparency—much like a trusted advisor in a complex financial world. This brand alignment not only builds credibility but also positions WEEX as a go-to for Canadians looking to engage with stablecoins safely. It’s persuasive proof that when regulations evolve, platforms like WEEX thrive, providing tools that make digital finance accessible and secure.
Exploring Frequently Searched Questions and Twitter Buzz on Stablecoin Regulations
As we chat about these developments, it’s worth weaving in what people are actually searching for and discussing online. Based on trends as of November 2025, some of the most frequently searched questions on Google revolve around “how do stablecoin regulations work in Canada?” and “what are the benefits of regulated stablecoins for everyday users?” These queries show a hunger for clarity—people want to know how these rules protect their investments without stifling innovation. For instance, searches often highlight concerns about reserve requirements, with users comparing Canada’s approach to the US model, seeking analogies like “stablecoins as digital gold reserves” to simplify the concept.
On Twitter, the conversation is even more dynamic. As of my writing on November 5, 2025, hashtags like #StablecoinRegulation and #CanadaCrypto are trending, with users debating the pros and cons. A recent Twitter post from a prominent fintech analyst noted, “Canada’s stablecoin laws could boost adoption by 30% in the next year—echoing US gains post-GENIUS Act.” Official announcements, such as the Bank of Canada’s budget details, have sparked threads discussing risk management frameworks. One viral tweet from a crypto influencer highlighted, “With reserves mandatory, stablecoins in Canada are set to be as safe as bank deposits—game on!” These discussions underscore the excitement and occasional skepticism, with topics like data privacy and redemption policies dominating.
Latest updates add fuel to the fire. Just this week, on November 4, 2025, a Twitter announcement from a Canadian fintech group revealed preliminary guidelines for stablecoin issuers, emphasizing “robust data protection to prevent breaches.” This ties back to the budget’s focus on safeguarding personal information, addressing hot Twitter topics around cyber risks in crypto. Comparisons to the US continue to pop up, with users analogizing Canada’s cautious rollout to “learning from a big brother’s playbook.” Evidence from market data supports this buzz—the stablecoin sector’s growth to $309.1 billion isn’t speculation; it’s backed by reports like the US Treasury’s April forecast of $2 trillion by 2028.
The Broader Impact: Modernizing Payments and Building a Secure Future
Diving deeper, this regulatory push is about more than just stablecoins—it’s a blueprint for modernizing Canada’s entire payment system. Faster, cheaper, and more secure digital transactions could transform everything from online shopping to international remittances. Imagine sending money to family abroad without the usual fees eating into your hard-earned cash; stablecoins make that possible, and regulations ensure it’s done right.
Contrasting this with unregulated eras, where volatility led to losses, highlights the strengths of Canada’s approach. Real-world examples abound: the institutional integrations by SWIFT and others have already cut transaction times dramatically, proving that regulated stablecoins enhance efficiency without sacrificing safety. For users, this means peace of mind, knowing their digital assets are backed by tangible reserves.
Platforms like WEEX exemplify how to navigate this landscape effectively. By focusing on compliance and user-centric features, WEEX enhances its branding as a reliable partner in the crypto journey. It’s not just about trading; it’s about creating an ecosystem where regulations foster innovation. As Canada moves forward—though the budget didn’t pinpoint when the legislation will hit the table—it’s clear this is a step toward a future where stablecoins are as commonplace as debit cards.
Weaving in storytelling, think of stablecoins as the unsung heroes of finance, quietly powering the next wave of economic evolution. Canada’s budget is their coming-of-age moment, inspired by US successes and tailored to local needs. With institutional adoption on the rise and platforms like WEEX leading the charge, the narrative is one of progress and potential.
Addressing Common Concerns: Data, Risks, and Global Comparisons
Of course, no change comes without questions. Risk management is front and center in these regulations, mandating frameworks that protect against everything from market fluctuations to data breaches. It’s like fortifying a digital vault—ensuring that personal and financial information stays secure. This aligns with global trends, where countries are racing to regulate without stifling growth.
Comparisons to the US reveal strengths: while the GENIUS Act focused on rapid implementation, Canada’s approach emphasizes sustainability, with funding from the Bank of Canada to oversee it all. Evidence from market projections backs this up—the path to $2 trillion by 2028 is paved with such prudent steps.
As we wrap up, it’s evident that Canada’s stablecoin regulations are more than policy—they’re a bridge to a brighter financial future. By learning from the US, bolstering reserves, and embracing innovation, Canada is setting the stage for secure, efficient money movement. Whether you’re a crypto enthusiast or just curious about the next big thing, this is a development worth watching.
FAQ
What are the key requirements for stablecoin issuers under Canada’s new regulations?
Stablecoin issuers must maintain sufficient reserves, establish clear redemption policies, and implement risk management frameworks to protect data and ensure stability, as outlined in the 2025 budget.
How does Canada’s stablecoin regulation compare to the US approach?
Canada’s rules follow the US GENIUS Act by emphasizing reserves and risk management, but include specific funding from the Bank of Canada for oversight, aiming for similar security and adoption benefits.
Why did Canada decide to regulate stablecoins now?
The move comes after the US passed its laws in July, pressuring Canada to modernize payments for faster, cheaper transactions while addressing the growing $309.1 billion stablecoin market.
What impact will these regulations have on everyday Canadians?
They promise more secure digital transactions, potentially reducing costs and speeds for payments, benefiting the 41.7 million population by integrating stablecoins into daily finance safely.
How is institutional adoption influencing stablecoin growth in Canada?
With players like Western Union and SWIFT adopting stablecoins, and local firms like Tetra Digital raising funds, it’s driving market expansion toward a projected $2 trillion by 2028, fostering innovation under new rules.
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China's Central Bank and Eight Other Departments' Latest Regulatory Focus: Key Attention to RWA Tokenized Asset Risk
Foreword: Today, the People's Bank of China's website published the "Notice of the People's Bank of China, National Development and Reform Commission, Ministry of Industry and Information Technology, Ministry of Public Security, State Administration for Market Regulation, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission, State Administration of Foreign Exchange on Further Preventing and Dealing with Risks Related to Virtual Currency and Others (Yinfa [2026] No. 42)", the latest regulatory requirements from the eight departments including the central bank, which are basically consistent with the regulatory requirements of recent years. The main focus of the regulation is on speculative activities such as virtual currency trading, exchanges, ICOs, overseas platform services, and this time, regulatory oversight of RWA has been added, explicitly prohibiting RWA tokenization, stablecoins (especially those pegged to the RMB). The following is the full text:
To the people's governments of all provinces, autonomous regions, and municipalities directly under the Central Government, the Xinjiang Production and Construction Corps:
Recently, there have been speculative activities related to virtual currency and Real-World Assets (RWA) tokenization, disrupting the economic and financial order and jeopardizing the property security of the people. In order to further prevent and address the risks related to virtual currency and Real-World Assets tokenization, effectively safeguard national security and social stability, in accordance with the "Law of the People's Republic of China on the People's Bank of China," "Law of the People's Republic of China on Commercial Banks," "Securities Law of the People's Republic of China," "Law of the People's Republic of China on Securities Investment Funds," "Law of the People's Republic of China on Futures and Derivatives," "Cybersecurity Law of the People's Republic of China," "Regulations of the People's Republic of China on the Administration of Renminbi," "Regulations on Prevention and Disposal of Illegal Fundraising," "Regulations of the People's Republic of China on Foreign Exchange Administration," "Telecommunications Regulations of the People's Republic of China," and other provisions, after reaching consensus with the Cyberspace Administration of China, the Supreme People's Court, and the Supreme People's Procuratorate, and with the approval of the State Council, the relevant matters are notified as follows:
(I) Virtual currency does not possess the legal status equivalent to fiat currency. Virtual currencies such as Bitcoin, Ether, Tether, etc., have the main characteristics of being issued by non-monetary authorities, using encryption technology and distributed ledger or similar technology, existing in digital form, etc. They do not have legal tender status, should not and cannot be circulated and used as currency in the market.
The business activities related to virtual currency are classified as illegal financial activities. The exchange of fiat currency and virtual currency within the territory, exchange of virtual currencies, acting as a central counterparty in buying and selling virtual currencies, providing information intermediary and pricing services for virtual currency transactions, token issuance financing, and trading of virtual currency-related financial products, etc., fall under illegal financial activities, such as suspected illegal issuance of token vouchers, unauthorized public issuance of securities, illegal operation of securities and futures business, illegal fundraising, etc., are strictly prohibited across the board and resolutely banned in accordance with the law. Overseas entities and individuals are not allowed to provide virtual currency-related services to domestic entities in any form.
A stablecoin pegged to a fiat currency indirectly fulfills some functions of the fiat currency in circulation. Without the consent of relevant authorities in accordance with the law and regulations, any domestic or foreign entity or individual is not allowed to issue a RMB-pegged stablecoin overseas.
(II)Tokenization of Real-World Assets refers to the use of encryption technology and distributed ledger or similar technologies to transform ownership rights, income rights, etc., of assets into tokens (tokens) or other interests or bond certificates with token (token) characteristics, and carry out issuance and trading activities.
Engaging in the tokenization of real-world assets domestically, as well as providing related intermediary, information technology services, etc., which are suspected of illegal issuance of token vouchers, unauthorized public offering of securities, illegal operation of securities and futures business, illegal fundraising, and other illegal financial activities, shall be prohibited; except for relevant business activities carried out with the approval of the competent authorities in accordance with the law and regulations and relying on specific financial infrastructures. Overseas entities and individuals are not allowed to illegally provide services related to the tokenization of real-world assets to domestic entities in any form.
(III) Inter-agency Coordination. The People's Bank of China, together with the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Public Security, the State Administration for Market Regulation, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, the State Administration of Foreign Exchange, and other departments, will improve the work mechanism, strengthen coordination with the Cyberspace Administration of China, the Supreme People's Court, and the Supreme People's Procuratorate, coordinate efforts, and overall guide regions to carry out risk prevention and disposal of virtual currency-related illegal financial activities.
The China Securities Regulatory Commission, together with the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Public Security, the People's Bank of China, the State Administration for Market Regulation, the China Banking and Insurance Regulatory Commission, the State Administration of Foreign Exchange, and other departments, will improve the work mechanism, strengthen coordination with the Cyberspace Administration of China, the Supreme People's Court, and the Supreme People's Procuratorate, coordinate efforts, and overall guide regions to carry out risk prevention and disposal of illegal financial activities related to the tokenization of real-world assets.
(IV) Strengthening Local Implementation. The people's governments at the provincial level are overall responsible for the prevention and disposal of risks related to virtual currencies and the tokenization of real-world assets in their respective administrative regions. The specific leading department is the local financial regulatory department, with participation from branches and dispatched institutions of the State Council's financial regulatory department, telecommunications regulators, public security, market supervision, and other departments, in coordination with cyberspace departments, courts, and procuratorates, to improve the normalization of the work mechanism, effectively connect with the relevant work mechanisms of central departments, form a cooperative and coordinated working pattern between central and local governments, effectively prevent and properly handle risks related to virtual currencies and the tokenization of real-world assets, and maintain economic and financial order and social stability.
(5) Enhanced Risk Monitoring. The People's Bank of China, China Securities Regulatory Commission, National Development and Reform Commission, Ministry of Industry and Information Technology, Ministry of Public Security, State Administration of Foreign Exchange, Cyberspace Administration of China, and other departments continue to improve monitoring techniques and system support, enhance cross-departmental data analysis and sharing, establish sound information sharing and cross-validation mechanisms, promptly grasp the risk situation of activities related to virtual currency and real-world asset tokenization. Local governments at all levels give full play to the role of local monitoring and early warning mechanisms. Local financial regulatory authorities, together with branches and agencies of the State Council's financial regulatory authorities, as well as departments of cyberspace and public security, ensure effective connection between online monitoring, offline investigation, and fund tracking, efficiently and accurately identify activities related to virtual currency and real-world asset tokenization, promptly share risk information, improve early warning information dissemination, verification, and rapid response mechanisms.
(6) Strengthened Oversight of Financial Institutions, Intermediaries, and Technology Service Providers. Financial institutions (including non-bank payment institutions) are prohibited from providing account opening, fund transfer, and clearing services for virtual currency-related business activities, issuing and selling financial products related to virtual currency, including virtual currency and related financial products in the scope of collateral, conducting insurance business related to virtual currency, or including virtual currency in the scope of insurance liability. Financial institutions (including non-bank payment institutions) are prohibited from providing custody, clearing, and settlement services for unauthorized real-world asset tokenization-related business and related financial products. Relevant intermediary institutions and information technology service providers are prohibited from providing intermediary, technical, or other services for unauthorized real-world asset tokenization-related businesses and related financial products.
(7) Enhanced Management of Internet Information Content and Access. Internet enterprises are prohibited from providing online business venues, commercial displays, marketing, advertising, or paid traffic diversion services for virtual currency and real-world asset tokenization-related business activities. Upon discovering clues of illegal activities, they should promptly report to relevant departments and provide technical support and assistance for related investigations and inquiries. Based on the clues transferred by the financial regulatory authorities, the cyberspace administration, telecommunications authorities, and public security departments should promptly close and deal with websites, mobile applications (including mini-programs), and public accounts engaged in virtual currency and real-world asset tokenization-related business activities in accordance with the law.
(8) Strengthened Entity Registration and Advertisement Management. Market supervision departments strengthen entity registration and management, and enterprise and individual business registrations must not contain terms such as "virtual currency," "virtual asset," "cryptocurrency," "crypto asset," "stablecoin," "real-world asset tokenization," or "RWA" in their names or business scopes. Market supervision departments, together with financial regulatory authorities, legally enhance the supervision of advertisements related to virtual currency and real-world asset tokenization, promptly investigating and handling relevant illegal advertisements.
(IX) Continued Rectification of Virtual Currency Mining Activities. The National Development and Reform Commission, together with relevant departments, strictly controls virtual currency mining activities, continuously promotes the rectification of virtual currency mining activities. The people's governments of various provinces take overall responsibility for the rectification of "mining" within their respective administrative regions. In accordance with the requirements of the National Development and Reform Commission and other departments in the "Notice on the Rectification of Virtual Currency Mining Activities" (NDRC Energy-saving Building [2021] No. 1283) and the provisions of the "Guidance Catalog for Industrial Structure Adjustment (2024 Edition)," a comprehensive review, investigation, and closure of existing virtual currency mining projects are conducted, new mining projects are strictly prohibited, and mining machine production enterprises are strictly prohibited from providing mining machine sales and other services within the country.
(X) Severe Crackdown on Related Illegal Financial Activities. Upon discovering clues to illegal financial activities related to virtual currency and the tokenization of real-world assets, local financial regulatory authorities, branches of the State Council's financial regulatory authorities, and other relevant departments promptly investigate, determine, and properly handle the issues in accordance with the law, and seriously hold the relevant entities and individuals legally responsible. Those suspected of crimes are transferred to the judicial authorities for processing according to the law.
(XI) Severe Crackdown on Related Illegal and Criminal Activities. The Ministry of Public Security, the People's Bank of China, the State Administration for Market Regulation, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, as well as judicial and procuratorial organs, in accordance with their respective responsibilities, rigorously crack down on illegal and criminal activities related to virtual currency, the tokenization of real-world assets, such as fraud, money laundering, illegal business operations, pyramid schemes, illegal fundraising, and other illegal and criminal activities carried out under the guise of virtual currency, the tokenization of real-world assets, etc.
(XII) Strengthen Industry Self-discipline. Relevant industry associations should enhance membership management and policy advocacy, based on their own responsibilities, advocate and urge member units to resist illegal financial activities related to virtual currency and the tokenization of real-world assets. Member units that violate regulatory policies and industry self-discipline rules are to be disciplined in accordance with relevant self-regulatory management regulations. By leveraging various industry infrastructure, conduct risk monitoring related to virtual currency, the tokenization of real-world assets, and promptly transfer issue clues to relevant departments.
(XIII) Without the approval of relevant departments in accordance with the law and regulations, domestic entities and foreign entities controlled by them may not issue virtual currency overseas.
(XIV) Domestic entities engaging directly or indirectly in overseas external debt-based tokenization of real-world assets, or conducting asset securitization activities abroad based on domestic ownership rights, income rights, etc. (hereinafter referred to as domestic equity), should be strictly regulated in accordance with the principles of "same business, same risk, same rules." The National Development and Reform Commission, the China Securities Regulatory Commission, the State Administration of Foreign Exchange, and other relevant departments regulate it according to their respective responsibilities. For other forms of overseas real-world asset tokenization activities based on domestic equity by domestic entities, the China Securities Regulatory Commission, together with relevant departments, supervise according to their division of responsibilities. Without the consent and filing of relevant departments, no unit or individual may engage in the above-mentioned business.
(15) Overseas subsidiaries and branches of domestic financial institutions providing Real World Asset Tokenization-related services overseas shall do so legally and prudently. They shall have professional personnel and systems in place to effectively mitigate business risks, strictly implement customer onboarding, suitability management, anti-money laundering requirements, and incorporate them into the domestic financial institutions' compliance and risk management system. Intermediaries and information technology service providers offering Real World Asset Tokenization services abroad based on domestic equity or conducting Real World Asset Tokenization business in the form of overseas debt for domestic entities directly or indirectly venturing abroad must strictly comply with relevant laws and regulations. They should establish and improve relevant compliance and internal control systems in accordance with relevant normative requirements, strengthen business and risk control, and report the business developments to the relevant regulatory authorities for approval or filing.
(16) Strengthen organizational leadership and overall coordination. All departments and regions should attach great importance to the prevention of risks related to virtual currencies and Real World Asset Tokenization, strengthen organizational leadership, clarify work responsibilities, form a long-term effective working mechanism with centralized coordination, local implementation, and shared responsibilities, maintain high pressure, dynamically monitor risks, effectively prevent and mitigate risks in an orderly and efficient manner, legally protect the property security of the people, and make every effort to maintain economic and financial order and social stability.
(17) Widely carry out publicity and education. All departments, regions, and industry associations should make full use of various media and other communication channels to disseminate information through legal and policy interpretation, analysis of typical cases, and education on investment risks, etc. They should promote the illegality and harm of virtual currencies and Real World Asset Tokenization-related businesses and their manifestations, fully alert to potential risks and hidden dangers, and enhance public awareness and identification capabilities for risk prevention.
(18) Engaging in illegal financial activities related to virtual currencies and Real World Asset Tokenization in violation of this notice, as well as providing services for virtual currencies and Real World Asset Tokenization-related businesses, shall be punished in accordance with relevant regulations. If it constitutes a crime, criminal liability shall be pursued according to the law. For domestic entities and individuals who knowingly or should have known that overseas entities illegally provided virtual currency or Real World Asset Tokenization-related services to domestic entities and still assisted them, relevant responsibilities shall be pursued according to the law. If it constitutes a crime, criminal liability shall be pursued according to the law.
(19) If any unit or individual invests in virtual currencies, Real World Asset Tokens, and related financial products against public order and good customs, the relevant civil legal actions shall be invalid, and any resulting losses shall be borne by them. If there are suspicions of disrupting financial order and jeopardizing financial security, the relevant departments shall deal with them according to the law.
This notice shall enter into force upon the date of its issuance. The People's Bank of China and ten other departments' "Notice on Further Preventing and Dealing with the Risks of Virtual Currency Trading Speculation" (Yinfa [2021] No. 237) is hereby repealed.

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