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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    NFT sales plunge to $129.6m, Pudgy Penguins jump 63%

    PENGU token loses 20% in August amid Pudgy Party game launch

    PENGU token loses 20% in August amid Pudgy Party game launch

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    Base claims top 3 spot in 30-day NFT volume: DappRadar

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    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

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    What Is Impermanent Loss? How It Works, and How to Avoid It

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

  • Coin Marketcaps
  • Home
  • Crypto
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  • Web 3
    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

  • Metaverse
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    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

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    Experience to Earn: Everdome’s Metaverse Frontier

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    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

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    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

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    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

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    NFT sales plunge to $129.6m, Pudgy Penguins jump 63%

    NFT sales plunge to $129.6m, Pudgy Penguins jump 63%

    PENGU token loses 20% in August amid Pudgy Party game launch

    PENGU token loses 20% in August amid Pudgy Party game launch

    Base claims top 3 spot in 30-day NFT volume: DappRadar

    Base claims top 3 spot in 30-day NFT volume: DappRadar

    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

    Blue chip NFTs sink double digits as ETH retreats from record highs

    Blue chip NFTs sink double digits as ETH retreats from record highs

    What’s Behind the Double-Digit Declines?

    What’s Behind the Double-Digit Declines?

    Telegram NFT Gifts Hit $57M in Sales as Users Rush In

    Telegram NFT Gifts Hit $57M in Sales as Users Rush In

    NFT sales drop 25% to $134m, CryptoPunks plunge 59%

    NFT sales drop 25% to $134m, CryptoPunks plunge 59%

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    Ethereum Rules With $56.57M Sales, Solana and Polygon Compete

  • Gaming
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    Climb the SCOR Invitational Leaderboard and Earn Bigger $SCOR Airdrops

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    Pudgy Penguins Game ‘Pudgy Party’ Launches on iOS and Android

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    Pudgy Penguins and Mythical Games Launch Pudgy Party Game

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    Stability World AI Adds Games to Transform the Future of Web3 Gaming

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  • Blockchain
    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

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    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

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  • AI
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    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

    ETH Daddy Discusses Ethereum and AI

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    UAE emirate launches new free zone for digital assets, Web3 and AI

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  • Guides
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    What Is Impermanent Loss? How It Works, and How to Avoid It

    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

    What Is Volatility in Crypto? Why It Happens and How to Stay Safe

    What Is Volatility in Crypto? Why It Happens and How to Stay Safe

    What is Cloud Mining? A Beginner’s Guide

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    6 Under-$1 Utility Tokens with Real-World Use to Watch in the 2025 Bull Run

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    What’s the Difference & Which Is Better to Trade?

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  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

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Home NFT

China declares stealing digital collections like NFTs liable for criminal theft sentence

November 10, 2023
in NFT
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China declares stealing digital collections like NFTs liable for criminal theft sentence
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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.

READ ALSO

NFT sales plunge to $129.6m, Pudgy Penguins jump 63%

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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 the third view which sees digital collections as both data and virtual property that would fall under the umbrella of “co-offending.”

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.

“The theft of digital collections violates the protection law and interests of the crime of illegally obtaining computer information system data.”

It elaborates on this topic, naming digital collections “network virtual property” and stressing that in the criminal law context, “collections should be recognized as property.”

“Since 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.”

Related: 47 countries pledge to authorize the crypto-asset reporting framework by 2027

NFTs were specifically mentioned, establishing that digital collections are derived from the concept of NFTs “abroad” and use blockchain technology to “map specific assets” with “unique, non-copyable, tamper-preventing, and permanent storage characteristics.”

See also  SYKY Bridges Digital and Physical Fashion with Apple Vision Pro

The declaration said that although China has not opened the “secondary flow market” for digital collections “consumers can rely on trading platforms to complete purchases, collections, transfers, destruction and other operations to achieve exclusive possession, use, and disposal capabilities.”

Despite China’s official ban from 2021 on nearly all crypto-related activity and transactions other than simply owning cryptocurrencies, there has been recent buzz surrounding NFTs.

A local Chinese media reported on Oct. 25 that the Alibaba-owned peer-to-peer marketplace Xianyu removed its censorship of “nonfungible tokens” and “digital asset” related keywords in its search.

Prior to that, on Oct. 6 China Daily, an English-language newspaper owned by the Chinese government, announced that it wanted 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.

Magazine: Australia’s $145M exchange scandal, Bitget claims 4th, China lifts NFT ban: Asia Express

Tags: ChinaCollectionsCriminaldeclaresdigitalliableNFTsSentencestealingTheft

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Memecoin Project Obama6900 (OBX) Joins the Fight Against Malaria with Long-Lasting Insecticidal Nets (LLINs)

Memecoin Project Obama6900 (OBX) Joins the Fight Against Malaria with Long-Lasting Insecticidal Nets (LLINs)

October 28, 2023
Tezos 2023 Outlook: An Overview of Tezos (XTZ)

Tezos 2023 Outlook: An Overview of Tezos (XTZ)

November 2, 2023
UK risks regulating NFTs the wrong way, says Mintable CEO

UK risks regulating NFTs the wrong way, says Mintable CEO

October 30, 2023
Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

August 3, 2024
How to Earn Keys to Boost Your HMSTR Airdrop

How to Earn Keys to Boost Your HMSTR Airdrop

September 10, 2024

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Animoca Brands Announces Partnerships

Animoca Brands Announces Partnerships

February 18, 2024
Analyst Predicts Crypto Market Could Be On The Verge Of A 3x Rally—Here’s Why

Analyst Predicts Crypto Market Could Be On The Verge Of A 3x Rally—Here’s Why

August 16, 2024
Monday blues for Bitcoin? Here’s what you should expect now…

Monday blues for Bitcoin? Here’s what you should expect now…

September 2, 2024
Ethereum’s Positive Funding Rates Push Price Near $4K—Are There Any Downsides?

Ethereum’s Positive Funding Rates Push Price Near $4K—Are There Any Downsides?

November 13, 2024

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