{"id":195760,"date":"2023-11-10T13:39:17","date_gmt":"2023-11-10T13:39:17","guid":{"rendered":"https:\/\/tokenstalk.info\/?p=195760"},"modified":"2023-11-10T13:39:17","modified_gmt":"2023-11-10T13:39:17","slug":"china-declares-stealing-digital-collections-like-nfts-liable-for-criminal-theft-sentence","status":"publish","type":"post","link":"https:\/\/tokenstalk.info\/crypto\/china-declares-stealing-digital-collections-like-nfts-liable-for-criminal-theft-sentence\/","title":{"rendered":"China declares stealing digital collections like NFTs liable for criminal theft sentence"},"content":{"rendered":"

The Chinese government released a statement on Nov. 10 declaring that anyone stealing digital collections, such as nonfungible tokens (NFTs), will be subject to theft sentences.<\/p>\n

It outlines three views on the type of crime that theft of digital collections falls under, the first two classifying it as either data or digital property. However, the statement stresses that the third view, which sees digital collections as both data and virtual property, would fall under the umbrella of \u201cco-offending.\u201d<\/p>\n

The statement explained that stealing a digital collection includes intrusion into the system on which it is housed, therefore also committing the crime of illegally obtaining computer information system data and theft.<\/p>\n

\u201cThe theft of digital collections violates the protection law and interests of the crime of illegally obtaining computer information system data.\u201d<\/p><\/blockquote>\n

It elaborates on this topic, naming digital collections \u201cnetwork virtual property\u201d and stressing that in the criminal law context, \u201ccollections should be recognized as property.\u201d<\/p>\n

\u201cSince property is the object of property crime, digital collections can obviously become the object of property crime. If the digital collection is stolen by intrusion into the system or other technical means, the act also damages the property law.\u201d<\/p><\/blockquote>\n

Related: <\/em><\/strong>47 countries pledge to authorize the crypto-asset reporting framework by 2027<\/em><\/strong><\/p>\n

NFTs were specifically mentioned, establishing that digital collections are derived from the concept of NFTs \u201cabroad\u201d and use blockchain technology to \u201cmap specific assets\u201d with \u201cunique, non-copyable, tamper-preventing, and permanent storage characteristics.\u201d<\/p>\n

The declaration said that, although China has not opened the \u201csecondary flow market\u201d for digital collections, \u201cconsumers can rely on trading platforms to complete purchases, collections, transfers, destruction and other operations to achieve exclusive possession, use, and disposal capabilities.\u201d<\/p>\n

Despite China\u2019s official ban from 2021 on nearly all crypto-related activity and transactions other than simply owning cryptocurrencies, there has been recent buzz surrounding NFTs.<\/p>\n

A local Chinese media outlet\u00a0reported on Oct. 25 that the Alibaba-owned peer-to-peer marketplace Xianyu removed its censorship of \u201cnonfungible tokens\u201d and \u201cdigital asset\u201d related keywords in its search.<\/p>\n

Prior to that, on Oct. 6 China Daily, an English-language newspaper owned by the Chinese government, announced that it\u00a0wanted to create its own NFT platform and would award 2.813 million Chinese yuan ($390,000) to a third-party contractor to design the platform up to its specifications.<\/p>\n

Magazine: <\/em><\/strong>Australia\u2019s $145M exchange scandal, Bitget claims 4th, China lifts NFT ban: Asia Express<\/em><\/strong><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Chinese government released a statement on Nov. 10 declaring that anyone stealing digital collections,…<\/p>\n","protected":false},"author":4,"featured_media":195759,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nChina declares stealing digital collections like NFTs liable for criminal theft sentence - Tokens Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tokenstalk.info\/crypto\/china-declares-stealing-digital-collections-like-nfts-liable-for-criminal-theft-sentence\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China declares stealing digital collections like NFTs liable for criminal theft sentence - Tokens Talk\" \/>\n<meta property=\"og:description\" content=\"The Chinese government released a statement on Nov. 10 declaring that anyone stealing digital collections,...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tokenstalk.info\/crypto\/china-declares-stealing-digital-collections-like-nfts-liable-for-criminal-theft-sentence\/\" \/>\n<meta property=\"og:site_name\" content=\"Tokens Talk\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-10T13:39:17+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tokenstalk.info\/wp-content\/uploads\/2023\/11\/China-declares-stealing-digital-collections-like-NFTs-liable-for-criminal-theft-sentence-.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tokenstalk.info\/crypto\/china-declares-stealing-digital-collections-like-nfts-liable-for-criminal-theft-sentence\/\",\"url\":\"https:\/\/tokenstalk.info\/crypto\/china-declares-stealing-digital-collections-like-nfts-liable-for-criminal-theft-sentence\/\",\"name\":\"China declares stealing digital collections like NFTs liable for criminal theft sentence - 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