Chinese State Associations Propose Tighter NFT Regulation
Three Chinese government associations have come forward with a proposal to tighten regulation of non-fungible tokens to prevent the risks of illegal financial activities. The National Internet Finance Association of China (NIFA), the China Banking Association (CBA), and the China Securities Association (SAC) have launched a joint initiative to tighten controls on NFTs. They noted that in recent years, the Chinese NFT market has begun to develop very rapidly. On the one hand, collectible tokens…
