China Intends to Launch Its Own NFT Industry

In China, the state-backed Blockchain Services Network (BSN) plans to launch an NFT infrastructure separate from cryptocurrencies at the end of January 2022.

According to SCMP, Red Date Technology CEO He Yifan assured that NFTs have no legal problems in China as long as they distance themselves from Bitcoin and other digital assets.

BSN-Distributed Digital Certificate (BSN-DDC) will provide the ability to create your own user portals and applications for managing NFTs. And payment will be made only in Chinese yuan.

Earlier, the Chinese authorities launched a pilot version of a mobile wallet to use the digital yuan. According to BlockBeats, the app can be downloaded from the App Store and Google Play.

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