What Chinese FUD? Recent data shows that the number of digital collectible platforms in China has grown to over 500, a 5X increase from February 2022.
. The government agencies believe the Chinese NFT market is filled with speculations with a focus on the secondary market, which poses inherent risks for investors.
NFTs also became a way for people to express themselves digitally during the strict COVID-19-induced lockdowns in China. Shanghai residentsDue to a lack of regulatory supervision, individuals and businesses continues to engage with digital collectibles but with a cautionary approach to avoid any direct conflict with authorities.
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