While last year’s ban on cryptocurrency mining in China is still in full effect, crypto as such, including the non-fungible tokens is still allowed for trading. However, the authorities are set to probe this area, too, as censorship of “digital collectibles” is on the table.
As confirmed by the Chinese People’s Daily, National Press and Publication Administration blockchain copyright director Liu Tianjian has expressed her strong inclination toward monitoring non-fungible tokens in mainland China.
The NFT “digital collectibles,” as the Chinese government calls them, include art, music, animation, games, film, television, and other pieces of original artwork. According to Liu, these tokens “must align with the country’s core values,” and shall be considered illegal until the officials' review.
Implementing censorship would pose another blow to the country’s crypto enthusiasts and go against the philosophy of decentralized and free blockchain technology.
Concerns arise that such actions would enable black markets with crypto and NFTs, which would not bode well for crypto reputation. Suffice to say that despite the ban, mining in China is still happening, and according to the latest information, seems to be stronger than ever.
Time will tell how the situation is going to evolve, as the censorship proposal is still in the early development stages and no legal action has been taken yet. Hopefully, the public opinion might steer the decision-making in the right direction.