China will launch a regulated NFT-marketplace
As it was reported, China will launch a trading platform for non-exchangeable tokens (NFT), which will be supported by the state. The media report that the opening events will be held in Beijing on January 1, 2023.
As for the management of the new platform, it will be handled by two state-owned enterprises – China Technology Exchange and Art Exhibitions China. Also under management will be Huban Digital.
The China Digital Asset Trading Platform marketplace is planned to be used for trading digital property rights along with objects of collectibles.
It is worth noting that the platform is based on the blockchain China Cultural Protection Chain.
As a reminder, earlier lawyers emphasized that despite the so-called repression towards the crypto industry, the Chinese government still does not impose a ban on the ownership of digital assets.
Meanwhile, not so long ago, NFTs were declared by a court in Hangzhou as virtual property, which is protected by the law of the country. Moreover, bitcoin received such status from the same court back in 2019. And the court in Shanghai made a similar decision in May of this year.
It is also worth remembering that in September, the National Copyright Administration of China tightened the fight against copyright infringement of NFT creators.