China is further tightening its digital asset market as the regulators warn of criminals using the space for illicit activities. NFT market is getting increasingly “hot” Days after a Chinese media outlet had called for an urgent need for oversight of digital collectibles, three industry bodies have jointly issued guidelines in the country. China’s government-managed bodies, namely, the National Internet Finance Association of China, China Banking Association and the Securities Association of China have warned financial institutions against facilitating ‘illegal’ NFT trading on Wednesday. Last year, these state-backed associations had also taken a stringent stance when it came to curbing...