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Court in China Determines That NFTs Represent Virtual Property and Are Protected by Law

A court in Hangzhou, China has ruled that non-fungible tokens (NFTs) are considered virtual property and are protected by Chinese law. This ruling came from a case involving a dispute between a customer and a platform th...

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Older archive item. Useful for background and entity history, but not a fresh market-moving signal.

Court in China Determines That NFTs Represent Virtual Property and Are Protected by Law
A court in Hangzhou, China has ruled that non-fungible tokens (NFTs) are considered virtual property and are protected by Chinese law. This ruling came from a case involving a dispute between a customer and a platform that was hired to sell a collection of tokens.
The court stated that NFT collections have the characteristics of property rights such as value, scarcity, controllability, and readability, while also possessing "unique attributes of network virtual property." ...
Read More: Court in China Determines That NFTs Represent Virtual Property and Are Protected by Law

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This nft story adds another data point to the current market tape and is useful when read alongside nearby source coverage.

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