China to crack down on copyright infringement through NFTs – Bitcoin News

Authorities in China are pursuing creators of digital collections based on other people’s artwork, which use is not permitted. The government’s offensive is part of a multi-part campaign against online copyright infringement and piracy.

Regulators in China have moved to strengthen copyright control of online platforms

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

The main objective of the agency is to improve copyright control of internet businesses by investigating issues related to the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and to improve copyright control of online businesses by promptly dealing with infringing content, the agency announced in a press release. Release on Friday.

NCAC is particularly concerned about the growing number of copyright protection problems arising from the activities of many parties operating in new technologies. One of the areas where the custodian wants to increase control is the issuance of non-fungible tokens (NFTs).

The authority said it plans to “strictly control the unauthorized use of other people’s artwork, music, animation, games, film and television to create NFTs, build digital collections and sell pirated material over the Internet.”

The agency is confident that progress can be made in that direction by strengthening the entire online copyright chain, introducing regulatory standards and imposing fines. It insists that this will accelerate the establishment of a market-oriented, legal and international business environment and provide the copyright support needed to stimulate entrepreneurship and innovation.

By allowing their release, China is trying to curb speculation with NFTs. Tech giants such as Tencent and Ant Group, in cooperation with Beijing, have distanced themselves from the crypto-linked term “useless tokens”, preferring the more general term “digital bundles”. In April, reports indicated that popular Chinese messaging app WeChat was suspending accounts linked to NFTs.

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Art, China, Chinese, Copyright, Copyright Management, Copyright Infringement, Crypto, Cryptocurrencies, Cryptocurrencies, Music, NCAC, nft, NFTs, Invincible, Online Forums, Regulation, Penalties, Regulation, Tokens, Video, Guardian, works of art

Do you think China can curb copyright infringement related to non-renewable tokens? Share your thoughts on the topic in the comment section below.

Lubomir Tasev

Lubomir Tasev is a tech-savvy Eastern European journalist who likes Hitchens’ quote, “Being a writer is not what I do, but what I am.” Apart from crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

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