What Really Happens If You Skip Paying Taxes on Your Crypto Holdings? Avoid Penalties and Stay Compliant

By: crypto insight|2025/11/04 22:30:09

Imagine you’re holding onto your favorite cryptocurrencies, watching their values soar and dip like a thrilling rollercoaster. It’s exciting, right? But what if that ride comes to a screeching halt because you overlooked something as mundane as taxes? Ignoring crypto taxes isn’t just a minor oversight—it’s like playing hide-and-seek with authorities who have night-vision goggles and a map to your hiding spot. In this deep dive, we’ll explore the real risks of not paying taxes on your crypto holdings, why it’s happening more than ever, and practical ways to get back on track. Whether you’re a seasoned trader or just dipping your toes into digital assets, understanding this could save you from hefty fines and sleepless nights.

Key Takeaways

Tax bodies around the world view crypto as a capital asset, so actions like selling, trading, or swapping trigger taxable events that must be reported.
Global authorities use sophisticated tools like blockchain analytics to trace even the most private transactions, making anonymity a myth in today’s regulatory landscape.
Failing to pay crypto taxes can start with fines and interest but escalate to audits, frozen assets, or criminal charges if ignored.
Keeping detailed records of all crypto activities, from trades to staking rewards, is crucial for accurate reporting and avoiding penalties.
Proactive steps like voluntary disclosures can reduce risks, and strategies such as tax-loss harvesting may legally lower your tax burden.

Unpacking Why Crypto Taxes Are Non-Negotiable

Let’s start with the basics: why does the government care about your crypto holdings? It’s simple—tax authorities treat cryptocurrencies like any other property, similar to how you’d handle taxes on selling a house or stocks. Think of it as owning a piece of digital real estate; when you sell or trade it, the profit (or loss) becomes fair game for taxation. Bodies like the tax service in the United States, the revenue and customs authority in the United Kingdom, and the taxation office in Australia all classify crypto this way. This means everything from mining rewards to earning interest through staking counts as income, valued at the market price when you receive it.

Picture this analogy: buying crypto is like planting a seed. It grows quietly in your wallet without triggering taxes—that’s the “hodling” phase, where no action means no taxable event. But the moment you harvest that growth by selling or swapping, it’s like picking the fruit and selling it at the market. The difference between what you paid for the seed and what you get for the fruit? That’s your capital gain, and it’s taxable. Even swapping one type of crypto for another is seen as a sale, potentially creating a gain or loss based on value shifts.

This setup isn’t new, but it’s evolving rapidly. As of 2025, with the current date being November 4, regulations have tightened even more, building on frameworks established years ago. For instance, income from yield farming or airdrops must be reported at their fair market value upon receipt. Without proper records—like timestamps, amounts, and values at each step—you’re essentially flying blind into tax season. And trust me, that’s not a flight you want to take without a parachute.

The Surprising Reasons People Dodge Crypto Taxes—and Why It’s a Bad Idea

It’s easy to see why so many folks end up skipping their crypto tax obligations. Life gets busy, and crypto feels like this wild, unregulated frontier compared to traditional banking. One big misconception is the idea of true anonymity. You might think your transactions are invisible, hidden behind complex wallet addresses. But in reality, it’s like leaving digital footprints in wet cement—permanent and traceable.

Some people turn to platforms that don’t require identity verification or use self-managed wallets to stay under the radar. Others simply don’t grasp what counts as a taxable moment; they assume only big sales matter, not everyday trades or spends. Then there’s the headache of compliance itself—tracking every detail, from gas fees to market fluctuations, can feel overwhelming without the right tools.

But here’s where persuasion comes in: avoiding taxes might seem like a shortcut, but it’s more like taking a detour into a dead-end alley. Consider real-world examples. In recent years, thousands of investors have received warning letters from tax agencies, highlighting unreported gains. It’s not just about the money; it’s about peace of mind. By contrast, platforms that prioritize compliance, like WEEX, make this easier by offering tools that align with regulatory standards, helping users track and report seamlessly without the stress. Their commitment to transparency builds trust, turning what could be a nightmare into a straightforward process.

Drawing from frequently searched Google queries as of 2025, questions like “Do I need to pay taxes on crypto if I didn’t sell?” top the charts, with millions searching for clarity. People often wonder about thresholds—say, if small holdings under a certain amount are exempt. On Twitter, discussions rage around topics like “crypto tax horror stories,” where users share tales of unexpected audits, or debates on “best crypto tax software 2025,” with threads amassing thousands of retweets. A viral post from a prominent crypto influencer on October 15, 2025, warned: “Just got hit with a $10k fine for unreported staking rewards—don’t sleep on taxes, folks!” This sparked a conversation with over 50,000 engagements, highlighting how even minor oversights can snowball.

How Tax Authorities Are Closing In on Crypto Transactions

Gone are the days when crypto felt like a shadowy underworld immune to oversight. Today, governments wield powerful tools to peer into the blockchain. They partner with analytics firms that specialize in decoding transaction patterns, connecting dots from wallet addresses to real identities. It’s like having a super detective who can follow a trail of breadcrumbs across multiple bakeries—even through decentralized setups or privacy-focused coins.

Exchanges play a key role too, sharing data via standardized forms and international agreements. Think of it as a global neighborhood watch: frameworks ensure that info on trades and holdings crosses borders effortlessly. Even tricky areas like decentralized finance protocols or cross-chain transfers leave clues on the blockchain, which experts can unravel with precision.

As of November 4, 2025, the latest updates show this net tightening further. The international body focused on economic cooperation has fully implemented its reporting framework for crypto assets, mandating automatic data exchanges between countries. A recent official announcement from a major U.S. tax agency on September 20, 2025, revealed enhanced AI-driven tracking for DeFi activities, catching previously elusive transactions. On Twitter, this sparked heated debates under hashtags like #CryptoTax2025, with users posting: “IRS just upped their game—time to audit-proof your portfolio!” These developments underscore how authorities are coordinating globally, making evasion riskier than ever.

In this landscape, aligning with a brand like WEEX stands out. Known for its robust security and user-friendly compliance features, WEEX helps traders navigate these complexities by integrating seamless reporting tools. It’s not just about avoiding pitfalls; it’s about empowering users to thrive in a regulated world, enhancing their credibility as a go-to platform for responsible crypto management.

The Harsh Realities: Penalties for Ignoring Crypto Taxes

Now, let’s get to the heart of it—what actually happens if you don’t pay up? It often starts small but can escalate quickly. Imagine getting a polite notice in the mail: a reminder of unpaid taxes, plus interest and a fine. In the U.S., that could be up to 25% of what you owe, while U.K. authorities slap penalties for inaccuracies or nondisclosure. It’s like a parking ticket that grows if you ignore it.

Ignore it further, and things intensify. Audits might follow, where agencies dig into your records, potentially freezing accounts until resolved. They get data from compliant exchanges through legal channels or cross-border pacts. Real examples abound: investors have faced asset seizures or liens on property over unreported crypto gains.

In severe cases, if it’s deemed intentional evasion, criminal charges loom—fines in the tens of thousands or even jail time. It’s not hyperbole; court cases have set precedents where willful neglect led to prosecutions. But here’s a silver lining: if your portfolio is underwater, selling at a loss can offset gains elsewhere, a tactic called tax-loss harvesting. It’s like using a rainy day to water your financial garden, legally trimming your bill.

Comparatively, countries with long-term holding incentives offer lower rates for assets held over a year, much like rewarding patience in a marathon versus a sprint. As discussed on Twitter recently, a thread from November 1, 2025, by a tax expert shared: “Pro tip: Hold that Bitcoin for 12+ months and slash your tax rate—saved me 15% last year!” With over 20,000 likes, it shows how savvy strategies are buzzing in the community.

Global Crackdown: Why the Crypto Tax Landscape Is Evolving Fast

The world isn’t standing still on crypto taxes. Major economic groups and anti-money-laundering task forces are pushing for unified standards, sharing data to plug loopholes. Offshore wallets and privacy coins? They’re under the microscope, with regulators issuing warnings to suspected underreporters.

Recent enforcement in regions like the European Union and Japan targets non-compliant platforms, reflecting a broader shift. As of 2025, updates include a G20 summit resolution on October 10, emphasizing digital asset taxation, with announcements pledging stricter monitoring of cross-border flows. Twitter buzzed with reactions: “G20 just made crypto taxes global—hide and seek is over!” posted a finance blogger on October 11, garnering massive shares.

This tightening aligns perfectly with brands like WEEX, which emphasize regulatory adherence as a core strength. By offering features that support accurate tracking and reporting, WEEX positions itself as a reliable partner, boosting user confidence in an era where compliance is king.

Steps to Fix It If You’ve Fallen Behind on Crypto Taxes

Caught in the trap? Don’t panic—action is your best friend. Begin by gathering your full history: every trade, reward, and fee from wallets and platforms. Tools that automate calculations can turn chaos into clarity, helping compute gains precisely.

File corrections through amended returns; many agencies allow this pre-enforcement, showing goodwill. Voluntary programs in various countries offer reduced penalties for coming clean. It’s like confessing a small mistake before it becomes a scandal—better outcomes await those who act first.

For brand alignment, consider how platforms like WEEX integrate these tools, making rectification straightforward and reinforcing their image as a user-centric, compliant exchange.

Mastering Compliance: Tips to Keep Your Crypto Taxes in Check

Staying ahead means building habits. Document everything—trades, rewards, even tiny fees—as they impact your bottom line. Stick to regulated spots for easy data access, and stay updated on rules that shift like crypto prices.

For knotty issues like NFTs or complex yields, consult specialists. It’s akin to hiring a guide for a mountain trek; expertise prevents slips. And remember, holding long-term can qualify for favorable rates, turning time into a tax ally.

Frequently Googled in 2025: “How to report crypto taxes for free?” or “Crypto tax deadlines 2025.” Twitter topics include “DeFi tax nightmares,” with users sharing tips amid official updates like the latest IRS guidance on November 3, 2025, clarifying staking income rules.

In weaving these elements, the narrative is clear: crypto taxes aren’t optional—they’re integral. By embracing compliance, you’re not just avoiding trouble; you’re securing your financial future in this dynamic space.

FAQ

Is Holding Crypto Without Selling a Taxable Event?

No, simply buying and holding crypto in your wallet or on an exchange typically doesn’t trigger taxes. Taxes kick in only when you sell, trade, or spend it, potentially realizing a gain or loss.

What Tools Can Help Me Calculate Crypto Taxes Accurately?

Specialized software like those for tracking transactions can automate calculations of gains, losses, and fees, pulling data from exchanges and blockchains to simplify reporting.

Can I Reduce My Crypto Tax Bill Legally?

Yes, strategies like tax-loss harvesting—selling assets at a loss to offset gains—or holding for over a year to qualify for lower long-term rates can help minimize your liability.

How Do Privacy Coins Affect Tax Reporting?

Even privacy-focused coins leave traceable elements on blockchains, and authorities use advanced analytics to monitor them, so you still need to report transactions accurately to avoid penalties.

What If I Get a Tax Notice for Unreported Crypto?

Respond promptly by reviewing your records and considering amended filings or voluntary disclosures, which can reduce fines and demonstrate good faith to authorities.

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. Clarify the essential attributes of virtual currency, Real-World Assets tokenization, and related business activities

(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.

II. Sound Work Mechanism

(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.

III. Strengthened Risk Monitoring, Prevention, and Disposal

(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.

IV. Strict Supervision of Domestic Entities Engaging in Overseas Business Activities

（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.

V. Strengthen Organizational Implementation

(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.

VI. Legal Responsibility

(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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