Summary
- It is virtually impossible to use Bitcoin or other cryptocurrencies in the metaverse in China given the stringent regulations in place and whether e-CNY, a digitalized version of China's legal currency issued by PBOC, will be a substitute for cryptocurrencies remains to be seen.
China's Metaverse: Regulating Cryptocurrencies, NFTs and Data Privacy
Zhenyu Ruan, Yangdi Zhao of Baker McKenzie FenXun (FTZ) Joint Operation highlight notable legal developments in the three main legal areas of the virtual world called the metaverse, namely cryptocurrency regulation, NFT copyright infringement and data privacy
By
Susan Mok