Hangzhou Internet Court hears case involving property rights over digital collectibles.
A court in the Chinese city of Hangzhou has determined that non-fungible tokens, or NFTs, represent virtual property protected by the laws in the People’s Republic. The ruling comes from a case over a dispute between a customer and a platform hired to sell a collection of tokens.A court in Hangzhou, the capital of the eastern Chinese province of Zhejiang, has reviewed a dispute between a client and a local digital art platform which canceled a sale of NFTs on his behalf.
The contract involved in the case does not violate the laws and regulations of our country, nor does it violate the actual policy and regulatory guidance to prevent economic and financial risks, and should be protected by the law.
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