Large Chinese Internet companies are refusing to support NFT on their platforms due to fear of claims from the authorities. As an example, the publication cites the WeChat service developed by the Chinese IT giant Tencent.

WeChat removed several services that specialized in tokens at once. For example, we are talking about Xihu No.1, where you could collect NFTs. In some cases, we are not talking about a complete ban on NFTs, but about tougher penalties for violations.

For example, the WhaleTalk service, owned by another Chinese IT giant, Ant Group, has tightened penalties for transactions with NFTs that bypass the relevant exchanges.

Companies limit or completely close access to NFT platforms due to the lack of clear regulation of this market, Cointelegraph notes. In China, any operations with cryptocurrency are prohibited, but there is no clear state position with NFT.

Tokens can be invested outside of China, but inside the country, the extraction of monetary benefits from trading tokens is prohibited. For example, Alibaba banned the resale of NFTs on its Xianyu service in the summer of 2021.