#密码资产动态追踪 Have you ever thought about it? Is playing with cryptocurrencies really legal?

Let's clarify first — personal trading of cryptocurrencies is completely legal, with no issues. Buying and selling Bitcoin, Ethereum, and other cryptocurrencies on exchanges is an investment activity and won't cause legal trouble. But there's a caveat: virtual asset investments lack legal protection. If you make a profit, it's yours; if you lose money, it's also your own business. The law won't back you up.

So why do so many people experience failures after trading for a while? Simply put, it's because they crossed lines they shouldn't have.

**Never touch these four things:**

**First, opening your own exchange.** Doing this domestically? That's directly illegal operation, risking fines if caught, and imprisonment if serious. No gray area here.

**Second, profiting from buying and selling stablecoins.** Occasionally selling for cashing out is fine, but if you trade frequently as a profession? That's illegal operation. Even more concerning, this kind of business easily involves money laundering, and you could be implicated in cybercrime or money laundering charges if you're not careful.

**Third, issuing your own tokens for fundraising.** Playing around is okay, but selling to fans or raising funds from the public? That can quickly constitute illegal fundraising or even fraud. The line is thin, but crossing it is dangerous.

**Fourth, doing referral commissions or recruiting for shady exchanges.** Especially those small platforms you've never heard of — most are scams. Helping them recruit new users? That's an accomplice to illegal gambling, and the law is very clear on this.

**The most vulnerable point is withdrawing funds.** Why? Because you simply don't know if the other party's money is clean. How to protect yourself? Remember these three tips:

**Tip one, conduct all transactions within the app.** Don't use WeChat, Alipay, Telegram, or other communication tools. Especially Telegram, which is full of scams and money laundering activities. If you discuss buying and selling there, it's easy to be deemed as "knowing the risks and still doing it."

**Tip two, ask the merchant where their funds come from.** Ask and answer, and you've fulfilled your obligation. Even if you later find out the money is problematic, you have evidence that you were deceived.

**Tip three, never help others with deposits or withdrawals.** Your account should only be used by you. If a friend says, "Help me transfer, I'll give you 200 yuan,"? Never do it. If the money's origin is illegal, you'll become an accomplice and it will be hard to clear your name.

**In summary, just a few words:** Personal investment is not illegal; operating a business is, and you must avoid crossing red lines. Be cautious with withdrawals. Everyone is responsible for their own account. Protect yourself — that's more important than anything.