The NFT marketplaces of Ant Group and Tencent have updated user agreements due to fears of government reprisals and a lack of regulatory clarity. For the same reason, WeChat accounts of a number of platforms were deleted, reports QQ News.
Thus, the authorities plan to prevent speculative trading and fraud, while NFTs as a whole are not subject to a total ban, the agency said.
It was previously known that in October 2021, Ant Group and Tencent on their platforms and websites changed the name of the asset to “digital collectibles”. In early November, companies signed with several government agencies convention on “self-discipline” in this domain.
By words PRC authorities, NFTs and the metaverse could turn out to be bubbles, Ponzi schemes, or other forms of financial fraud.
Soon after these statements, information appeared that on the basis of the state blockchain platform BSN deploy infrastructure to support NFTnot related to cryptocurrencies.