While Beijing has cracked down on cryptocurrencies, non-fungible tokens and the metaverse have been operating in a grey area in China. Illustration: Shutterstock
While Beijing has cracked down on cryptocurrencies, non-fungible tokens and the metaverse have been operating in a grey area in China. Illustration: Shutterstock
NFTs

China’s growing market for NFTs, metaverse could foster new money-laundering schemes, central bank official warns

  • As virtual assets, NFTs and the metaverse could be used for money-laundering purposes, according to a People’s Bank of China official
  • More than 50 jurisdictions across mainland China plan or have already moved to establish a regulatory framework for NFTs and the metaverse

While Beijing has cracked down on cryptocurrencies, non-fungible tokens and the metaverse have been operating in a grey area in China. Illustration: Shutterstock
While Beijing has cracked down on cryptocurrencies, non-fungible tokens and the metaverse have been operating in a grey area in China. Illustration: Shutterstock
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