Under the backdrop of a three-year retrospective investigation into overseas income, will virtual currency transactions in mainland China be taxed? (Author: Liu Zhengyao) With the advancement of CRS and the crypto asset reporting framework, mainland tax authorities are strengthening the tracing of overseas income from 2022–2024. Although virtual currencies are restricted, their transaction gains may still be classified as 'income from property transfer' and subject to personal income tax. As fund withdrawals become more traceable and information exchange increases, related regulatory blind spots are disappearing.