A court in China declares that NFTs are considered virtual property and are legally protected
The court stated that NFTs, which are digital assets that are unique and non-interchangeable, belong to the category of virtual property that should be protected by Chinese law. A court located in Hangzhou, China has declared that non-interchangeable tokens (NFTs) are seen as virtual possessions that should be safeguarded under Chinese law. An article posted on November 29 by the Hangzhou Internet Court and shared by the crypto blogger Wu Blockchain on December 5 showed that after China’s crackdown on cryptocurrencies in 2021, NFTs are in a legal grey area, but the language used by the court is fairly positive.