Wednesday, January 19

Xinhua, China’s state news agency launches photo collection on NFT


Risks for the country

A few days ago, the director of the Central Bank of China Anti-Money Laundering Analysis and Monitoring Center (PBoC), Gou Wenjun, indicated that NFTs and various elements of metaverses could become a money laundering tool for investors. criminals. The official highlighted the need for the Government of China to improve its regulatory policies, to monitor operations with this type of digital assets. Wenjun noted that the decentralization, interoperability, anonymity and speculative nature of NFTs pose risks to the country.

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However, the McDonald’s franchise in China and the companies 36kr Holdings and Tencent have already launched their own NFT collections to give away to their customers. To avoid regulatory scrutiny, these two companies call NFTs “self-regulating digital collectibles.”

Metaverse bowed

Tencent Holdings noted last month that it expected Beijing to allow the metaverse to operate in China, as long as it complies with Chinese rules. Cryptocurrencies are the natural means of payment for decentralized metaverse built with blockchain. A payment method that collides with the total ban on operating with them dictated by the Chinese Government. However, the country’s authorities could be thinking of a centralized metaverse, type Meta / Facebook, in which you can pay with digital yuan.

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Likewise, the main Chinese investment firms, such as Hillhouse Capital, Zhen Fund, Wuyuan Capital or Xinghan Capital have already started to invest in metaverses. According to data provided by Tianyancha, China has registered more than 7,000 trademarks related to the metaverse.

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