China to go tough on NFT copyright infringements

Share This Post





The Chinese Government has commenced a full-scale manhunt to tame individuals who use people’s works of art to create their digital collectibles without permission. The National Copyright Association announced this development in its Friday press release. The agency unveiled the offensive campaign in collaboration with the Ministry of Public security, the State Internet Information Office, and the Ministry of Industry and Information Technology.

According to the National Copyright Association, the search against copyright infringements of digital collectibles has become imperative to facilitate improved copyright supervision of virtual businesses. According to the agency, this will be done by probing every emerging issue concerning the sale and distribution of infringing products via short clips, live broadcasts, and e-commerce platforms.

According to the National Copyright Association, it will “severely crack down on the unauthorized use of other people’s works of art, music, animation, games, film, and television to create NFTs, make digital collections, and sell pirated scripts through the Internet.” The agency is optimistic that such a move will help to reduce the emerging copyright infringements in the sphere. 

The agency wants to enhance the online copyright chain and implement existing regulatory standards by imposing severe penalties on violators. According to the agency, this will foster the actualization of a “market-oriented, legalized and international business environment, and provide the copyright support needed to stimulate entrepreneurship and innovation.”

The agency lamented the increasing copyright protection issues occasioned by the operations of virtual businesses running with innovative technologies. Now, it intends to focus and monitor the issuance of NFTs, saying the trend has, over time, been engrossed with more copyright infringement issues.

The clamp down on crypto social media accounts by China

Authorities in China have, in recent times, been critical of activities unfolding in the crypto and NFTs sphere. Recently, the country cracked down on over 12,000 crypto-oriented social media accounts. The Cyberspace Administration of China (CAC) ordered the closure of those accounts because they were being used to mislead internet users by “guiding” them to invest in virtual assets under the pretext of “financial innovation and blockchain.”

The Chinese government also asked all social media platforms to prohibit increasing crypto speculations. According to CAC, its move is part of the measures to address the “chaos” occasioned by crypto speculations which lured many people into investing in the scheme, thereby enduring big losses.

Related

Tamadoge – Play to Earn Meme Coin

Our Rating

Tamadoge logo
  • Earn TAMA in Battles With Doge Pets
  • Capped Supply of 2 Bn, Token Burn
  • NFT-Based Metaverse Game
  • Presale Live Now – tamadoge.io

Tamadoge logo

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Coinbase to Delist USDT in Europe Amid New EU Regulations

Coinbase has announced plans to delist Tether’s USDT and other stablecoins that do not comply with the European Union’s Markets in Crypto-Assets (MiCA) regulations by December 30, 2024

Bitcoin Lags Under STH Realized Price Of $63,000 — What Does This Mean?

The Bitcoin price has somewhat slowed down this weekend, failing to capitalize on its resurgent momentum from Friday, October 4 The premier cryptocurrency continues to hover around the $62,000 mark,

Wealthiest Man in Argentina Praises Bitcoin’s Strength Against Government Intervention

Marcos Galperin, founder and CEO of Latin America’s e-commerce and financial services giant Mercado Libre, shared his perspective on bitcoin and cryptocurrency In a recent interview, Galperin

US Spot Bitcoin ETFs Open Q4 2024 With $300 Million Weekly Outflows – Details

Spot Bitcoin ETFs launched the fourth quarter of 2024 on a turbulent note ending the week with a net negative outflow of over $300 million This development occurred in tandem with Bitcoin’s bearish

DMCC and CVVC Partner to Drive Web3 Innovation

The Dubai Multi Commodities Centre (DMCC) Crypto Centre and the Swiss early-stage blockchain venture capital firm CVVC have partnered to support the Web3 ecosystems in Dubai and Switzerland The

Solana (SOL) Path To New Highs: Analyst Eyes $160 As Critical Breakpoint

Solana is testing a crucial level after weeks of volatile price action and market uncertainty Following the Federal Reserve’s interest rate cut announcement, Solana surged 26% but quickly