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Affiliation(s)

School of Economics, Shenzhen Polytechnic, Shenzhen, China

ABSTRACT

The Chinese Web 3.0 industry, represented by NFT digital collectibles, is developing in a different direction from overseas NFT markets. The regulatory thinking aims to discard its financial attributes and curb its tendency towards financial secularization. Currently, given the absence of a regulatory body for NFT digital collectibles, the production and release may constitute ICO (Initial Coin Offering) that is explicitly prohibited by official decree. China may adopt the governance path, based on the principle of inclusiveness and prudence in both a short and long term, to establish a regulatory sandbox system for NFT digital collectibles. It is a must to strictly regulate digital collectibles trading platforms and set access standards. At the same time, it is essential to strengthen the supervision of the entire process of trading and withdrawal of NFT digital collectibles, and use financial technology supervision methods for real-time monitoring to improve supervision efficiency.

KEYWORDS

regulatory logic, practical challenges, specific path

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