Ant Group, Tencent, JD.com Sign NFT ‘Self-Regulation’ Convention

Posted on by American Coins & Gold

Ant Group, Tencent, JD.com Sign NFT ‘Self-Regulation’ Convention
Major Chinese tech giants Ant Group, Tencent, and JD.com signed a “self-regulation” convention on non-fungible tokens (NFTs) with state organizations on Sunday, according to an Ant Group WeChat post and Chinese media.China’s big tech appears to be facing increasing pressure over its involvement with NFTs. The market hype around the unique digital assets appears to have made regulators worried that NFTs are edging too close to crypto trading, which has been practically banished from China in large part for creating too much market speculation.The “Digital Culture and Creative Industries Self-Regulation Convention” is made up of 11 tenets that align with…