{"id":59005,"date":"2022-03-21T14:35:34","date_gmt":"2022-03-21T12:35:34","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=59005"},"modified":"2025-09-04T19:40:47","modified_gmt":"2025-09-04T16:40:47","slug":"chinas-internet-giants-revise-nft-platform-policy","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/chinas-internet-giants-revise-nft-platform-policy\/","title":{"rendered":"China&#8217;s internet giants revise NFT platform policy"},"content":{"rendered":"<p>NFT marketplaces owned by Ant Group and Tencent updated their terms of use amid concerns about government crackdowns and lack of regulatory clarity. On WeChat, accounts of several platforms were removed for this reason, according to <a href=\\\"https:\/\/view.inews.qq.com\/a\/20220321A065YK00\\\">QQ News<\/a>.<\/p>\n<p>The measures aim to curb speculative trading and fraud, while NFTs as such are not subject to a blanket ban, the agency noted.<\/p>\n<p>In October 2021, Ant Group and Tencent on their platforms and sites <a href=\"https:\/\/u1f987.com\/en\/news\/media-ant-group-and-tencent-distance-themselves-from-the-term-nft\">renamed the asset<\/a> to &#8216;digital collectibles&#8217;. In early November, the companies signed with several government agencies <a href=\"https:\/\/u1f987.com\/en\/news\/ant-group-tencent-and-jd-com-sign-nft-self-regulation-pact\">a &#8216;self-discipline&#8217; convention<\/a> in this area.<\/p>\n<p>Chinese authorities <a href=\"https:\/\/u1f987.com\/en\/news\/chinese-authorities-flag-nft-and-metaverses-as-potential-ponzi-schemes\">warned<\/a> that NFTs and the metaverses could turn out to be bubbles, Ponzi schemes, or other forms of financial fraud.<\/p>\n<p>Subsequently it was reported that on the state blockchain platform BSN <a href=\"https:\/\/u1f987.com\/en\/news\/media-china-to-build-nft-industry-on-state-backed-bsn-blockchain-platform\">an infrastructure for supporting non-crypto NFTs<\/a> would be deployed.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\\\"https:\/\/t.me\/forklogfeed\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">ForkLog Feed<\/a> \u2014 full news feed, <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">ForkLog<\/a> \u2014 the most important news, infographics and opinions<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NFT marketplaces owned by Ant Group and Tencent updated their terms of use amid concerns about government crackdowns and lack of regulatory clarity. On WeChat, accounts of several platforms were removed for this reason, according to QQ News.<\/p>\n","protected":false},"author":1,"featured_media":59006,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[133,1213,36],"class_list":["post-59005","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-china","tag-nft","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"14","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/59005","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=59005"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/59005\/revisions"}],"predecessor-version":[{"id":59007,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/59005\/revisions\/59007"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/59006"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=59005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=59005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=59005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}