• China is launching a public-private partnership to create a regulated trading platform for digital collectibles.
• The platform will be called the “China Digital Asset Trading Platform” and will launch in January of 2023.
• The platform will be compliant with applicable regulations and provide trading services for digital collectibles and digital copyrights.
The Chinese government is set to launch a public-private partnership in order to create a regulated trading platform for digital collectibles. The platform, named the “China Digital Asset Trading Platform”, is a joint project between various government organizations and a private company. The launch of the platform is scheduled for January 2023 and its purpose is to provide a safe and secure marketplace for the purchase and sale of non-fungible tokens (NFTs) and other digital assets.
The platform will be operated under license from the China Digital Exchange, which is an organization set up by the Ministry of Science and Technology, the State Intellectual Property Office, the Chinese Academy of Sciences, and the Beijing municipal government. It is intended to act as the underlying infrastructure for the new trading platform, providing services such as processing transactions and implementing settlement mechanisms. The platform will comply with all applicable regulations and provide trading services for digital collectibles and digital copyrights.
The president of Huaban Digital Copyright Service Center Co. Limited, Yin Tao, explained that the platform is a response to the government’s efforts to crack down on crypto-related activities. By providing a safe and secure marketplace for digital assets, the platform will help to curb speculation on these types of assets while still allowing people to trade them.
The China Digital Asset Trading Platform is an exciting development for the Chinese digital asset market, and is likely to have a positive effect on the market as a whole. With the launch of the platform, the government will be able to adequately regulate the trading of digital assets while providing a safe and secure environment for traders. It is expected that the platform will open up a whole new world of possibilities for digital asset trading in China.