China is famous for its ever-changing cryptocurrency policies, encouraging Bitcoin mining to finally banning it. The government ended up banning cryptocurrency trading altogether. However, NFTs have had quite the success, and Beijing decided to launch its first state-backed NFT marketplace, running on its own blockchain, dubbed « China Cultural Protection Chain ». The marketplace will be run by both state-owned and private entities.
A ceremony to celebrate the launch of the platform is to be held on Jan. 1.
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