Chinese Government Declares Theft of NFTs as Property Theft, Impacting NFT Market

The Chinese government has issued a notice declaring that the stealing of digital collections, including NFTs, will be treated as theft under its criminal law. This surprising guidance has given hope to NFT holders and trading platforms. The move is seen as a bullish regulation by some. The announcement has brought clarity to the legal status of NFTs in China, potentially impacting the NFT market and digital property law.