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China , Monday 01 June 2026

China's tech giants are having FOMO on NFTs

Published on: Tuesday 03 May 2022

China's tech giants are having FOMO on NFTs In mid-April, a group of industry associations in China issued a warning against the potential financial risks of non-fungible tokens, digital assets that represent real-world objects or intangible goods like a song. NFTs must not be traded with cryptocurrencies, said the country's banking, internet finance, and securities associations, and they must not be used to create securitized products. Many in the crypto industry see the pronouncement as a death knell for NFTs' development in China.


News source: https://www.yahoo.com/lifestyle/chinas-tech-giants-having-fomo-071151387.html

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