China's authorities are targeting creators of digital collectibles that are based on works of other artists. This government offensive is part a campaign to fight online copyright infringements and piracy. It involves the participation of many departments.
China's regulators strengthen copyright supervision of online platforms
In collaboration with the Ministry of Industry, Information Technology, Ministry of Public Security and the State Internet Information Office of China, the National Copyright Administration of China has launched a campaign to combat copyright infringement and internet piracy.
The agency released a press release Friday stating that the initiative has a major goal of improving copyright supervision for online businesses. It will investigate cases involving infringing products being sold or distributed on short video, live broadcast, and e-commerce platforms and then promptly deal with the infringing content.
The NCAC is particularly concerned about the growing problems in copyright protection that result from the activities and innovations of many entities. The watchdog is keen to improve oversight in the area of non-fungible tokens.
According to the authority, it will "severely crackdown on the unauthorized usage of other people’s works of art and music, animation, games and film to create NFTs and make digital collections to sell pirated scripts over the Internet."
It believes that the only way to make progress in this direction is by strengthening the online copyright chain, encouraging regulatory standards and imposing sanctions. This would help to create a market-oriented, legalized, and international business environment and the copyright support necessary for innovation and entrepreneurship.
China has attempted to limit speculation using NFTs, even though it allowed their issuance. Tencent and Ant Group, tech giants, have collaborated with Beijing. They disassociated themselves from crypto-related terms "non-fungible tokens," and instead chose the generic "digital collectibles." Wechat, a popular Chinese messaging app, has been reported as suspending accounts that are linked to NFTs.
Are you positive that China will be able limit copyright infringement relating to non-fungible tokens Please share your views on this topic in the comments section.
—————————————————————————————————————————————————————————————–
By: Lubomir Tassev
Title: China to Crack Down on Copyright Infringement Through NFTs
Sourced From: news.bitcoin.com/china-to-crack-down-on-copyright-infringement-through-nfts/
Published Date: Sat, 10 Sep 2022 10:30:10 +0000
Did you miss our previous article…
https://altcoinirareview.com/bitcoin-and-making-sense-of-the-european-crisis/
