China Cracks Down On NFT Copyright Violations – Bitcoin News

Creators of digital collectibles in China that are based on the works of other people’s artists but do not have permission to exploit their work are being pursued by the Chinese government. The government offensive is a component of an effort to combat online copyright infringement and piracy, in which various departments are participating.

Authorities in China are taking steps to beef up their oversight of copyright violations committed by online platforms.

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 National Copyright Administration of China (NCAC) has just recently launched a campaign against copyright infringement and piracy on the internet.

According to a press release issued by the agency on Friday, one of the primary goals of the initiative is to enhance the copyright supervision of online businesses. This will be accomplished by investigating cases involving the sale and distribution of infringing products on short video, live broadcast, and e-commerce platforms, and swiftly dealing with content that infringes on intellectual property rights.

The National Computer and Communications Association is particularly concerned about expanding concerns with the protection of copyright that are caused by the actions of a large number of businesses working with cutting-edge technology. The issuing of non-fungible tokens is one of the areas in which the watchdog intends to expand its level of control (NFTs).

According to what the authority has stated, it intends to “severely crack down on the unauthorized use of other people’s works of art, music, animation, games, cinema, and television to produce NFTs, make digital collections, and sell pirated screenplays through the Internet.”

The agency is confident that advancement can be made in this direction by fortifying the entire online copyright chain, supporting regulatory standards, and enforcing penalties. It asserts that doing so would hasten the formation of a market-oriented, lawful, and international business environment, and it would also offer the copyright support that is necessary to encourage entrepreneurialism and innovation.

China has been making efforts to limit speculative activity with NFTs while at the same time permitting their issue. Tech giants such as Tencent and Ant Group have cooperated with Beijing and distanced themselves from the cryptocurrency-related term “non-fungible tokens,” opting instead for the more generic “digital collectibles.” In April, reports indicated that the popular Chinese messaging app Wechat is suspending accounts that are linked to NFTs.