China-based regulatory and trade associations target NFTs in latest risk notice
“We solemnly call on consumers to [...] be vigilant and stay away from NFT-related illegal financial activities,” said the associations. The China Banking Association, China Internet Finance Association, and Securities Association of China issued a joint statement warning the public about the “hidden risks” of investing in nonfungible tokens, or NFTs.In a Wednesday notice, the three associations launched initiatives aimed at encouraging innovation in the crypto and blockchain space focused on NFTs as well as “resolutely curb[ing] the tendency of NFT financialization and securitization” to....
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