2023.11.15
China Cracks Down on NFT Theft, Signals Potential Shift in Crypto Policy
China has declared the theft of digital collectibles, including NFTs, a crime, treating them as virtual property. Despite the 2021 cryptocurrency ban, recent actions by platforms like Alibaba's Xianyu and the China Daily indicate ongoing interest in NFTs. Observers suggest this might signal a potential easing of restrictions, with Hong Kong's policies viewed as a precursor. The move reflects a nuanced approach, acknowledging the existence of NFT marketplaces while maintaining a cautious stance on broader cryptocurrency recognition.
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