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How crypto foe China Is embracing NFTs, with strings attached

January 30, 2022
Source: channelnewsasia.com channelnewsasia.com
News Snapshot:
China’s government has made clear its distaste for the free-wheeling, anti-establishment cryptocurrency community. When it comes to crypto’s blockchain technology, however, it’s a different story. President Xi Jinping has urged mass adoption of digital ledgers to help turn China into an industrial and digital powerhouse. The country is also embracing the latest blockchain craze - non-fungible tokens - albeit with conditions attached. 1. Didn’t China basically ban crypto? More or less. Beijing’s paramount concern is maintaining social and economic stability, hence its dim view of speculative, volatile crypto trading and its association with gambling, money laundering, alleged scams and other...
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