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China's Top Prosecution Agency Warns NFT Users of Possible Economic Exploitation via Price Manipulation

China's Supreme People's Procuratorate has issued a warning to NFT users about the potential for economic exploitation through price manipulation. The Chinese government has been promoting the adoption of digital currency, with the digital yuan expected to improve liquidity in the Asian cryptocurrency market. However, the Supreme People's Procuratorate has called for proper regulation of the NFT market to ensure safe innovation and investor protection. The agency has urged NFT creators to report all financial activity in accordance with the law to prevent NFT-related crimes. As the NFT market expands, countries worldwide are working on formulating related tax frameworks.

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