China Compliance Report

Regulatory Overview

Regulatory Status

Outright ban on crypto ownership, trading, or mining

Key Regulator(s)

**China Banking and Insurance Regulatory Commission (CBIRC)**, **China Securities Regulatory Commission (CSRC)**

Travel Rule

Not adopted

Tax Reporting

Individuals face a **flat 20% capital gains tax (CGT)** on profits from selling, trading, or exchanging crypto (including crypto-to-crypto trades, NFTs, and DeFi activities), calculated as the difference between sale price and acquisition cost in RMB using official exchange rates; this applies regardless of holding period and treats crypto under "property transfer income."[1][2][3]. Buying crypto with fiat is not taxed, but realizing profits triggers the 20% CGT.[1][2]. Businesses pay **25% corporate income tax** on crypto-related gains.[1][2]. Crypto earned as **income** (e.g., mining rewards—though mining is banned—staking, airdrops, salary, payments for services, lending, yield farming, or NFT creation/royalties) is taxed at **individual progressive rates from 3% to 45%** based on total annual earnings; general thresholds (e.g., 5,000 CNY monthly) may reduce liability.[1][2]. Companies pay **25% corporate income tax** on such earnings.[1][2]

Key Facts

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