Breaking: China Issues Warning & Guidelines Against Use Of NFTs
China Says NFTs Have Crypto-Like Attributes On Wednesday, China’s top financial watchdog — The Supreme People’s Procuratorate of the People’s Republic of China — cautioned that digital collectibles like NFT collection s share “the attributes of virtual assets” which are currently banned in the country. The agency published its guidelines for the treatment of NFT s, suggesting improved risk Analysis and decision-making as well as equitable penalties for offenses. advertisement Read More: World’s Biggest Investor Paul Tudor Jones Warns Against Buying Bitcoin Now According to the official statement released by the prosecutors, the national agency is paying close heed to the rise of NFTs in the country as it has the potential to cause financial risks, management risks, network security breaches and especially give rise to legal concerns. Is A NFT Ban Looming In China? With the help of NFTs, real or virtual...