Chinese Central Banks Bodies Ban BTC, ETH for NFT Settlement, Call for Strict Control of NFT Space - BitcoinEthereumNews.com
यूरी मोलचन Three associations regulated by Chinas central bank launch initiative to take control of NFT space in China, which excludes using top three cryptos for payment के अनुसार शंघाई सिक्योरिटीज न्यूज़, three major government associations under the Peoples Bank of China (PBOC) have begun an initiative to prevent financial risks related to the non-fungible token (NFT) space. Aside from developing the industry of digitized art, it is believed that NFT can be used for speculation, money laundering and other illegal financial activities. Therefore, the associations have suggested some strict measures to keep the NFT market under control in order to protect consumers. China again calls for regulating the NFT space The three aforementioned organizations are China Internet Finance Association, China Banking Association and China Securities Association. They have suggested that NFT platforms in China start introducing several initiatives. They include adhering to integrity and inovation in order to support the real economy, as well as making sure that the value of NFTs is fully supported, “guiding consumers to consume rationally” and preventing selling NFTS at inflated prices. Aside from that, the initiatives include protecting intellectual property rights for commodities that back non-fungible tokens, as well as to support “genuine digital cultural and creative works.” Also,