China to Crack Down on Copyright Infringement Through NFTs – Bitcoin News

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. This government offensive, which includes several departments, is part of an effort to fight online copyright infringements and piracy.

China’s regulators strengthen copyright supervision of online platforms

The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic.

The agency released a press release Friday stating that the main objective is to increase copyright supervision for online businesses. It will investigate cases of sale or distribution of infringing goods on short video, live-broadcast and ecommerce platforms and then promptly deal with any infringing material.

NCAC is particularly concerned about the growing issues with copyright protection that result from activities by a large number of entities using innovative technologies. The watchdog is keen to improve oversight in the area of non-fungible tokens.

The authority said it plans to “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.”

This agency believes there are ways to move in this direction by strengthening the online copyright chain and encouraging regulation standards. This would help to create a more market-oriented legalized business environment and encourage entrepreneurship.

China allowed their issuance but has tried to stop speculation using NFTs. Tech giants like Tencent and Ant Group have cooperated with Beijing and distanced themselves from the crypto-related term “non-fungible tokens,” opting for the more generic “digital collectibles.” In April, reports indicated that the popular Chinese messaging app Wechat is suspending accounts linked to NFTs.

This story contains tags
Copyright, Copyright administration, Copyright infringement Cryptocurrencies Cryptocurrencies Cryptocurrencies Music, Cryptocurrencies Oversight Penalties, Supervision, Tokens Video, Watchdog, Works of Art

Are you positive that China can limit copyright infringement relating to non-fungible tokens Comment below to share your opinions.

Lubomir Tatsev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

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