According to a report published by local news outlet Sina News on Dec 28, China will launch its first regulated platform for nonfungible token (NFT) trading on Jan. 1, 2023.
In addition to NFTs, the platform will also facilitate the trading of copyrights related to digital assets.
Platforms have a clear responsibility for the listing and trading of digital assets.
Relative to intellectual property rights and digital copyrights, digital assets face a greater risk of regulatory soundness.”
The Hangzhou Internet Court, which specializes in internet-related legal disputes in China, previously ruled on Nov. 29 that NFTs are virtual property protected by law and that they “have the object characteristics of property rights such as value, scarcity, controllability, and traceability.”
Source: Cointelegraph