March 30, 2023

insufficient, and there is a need for a regulatory framework to ensure the healthy development of the industry. She emphasized that the government should take a proactive approach to regulate the industry and protect the interests of consumers.

The proposal comes at a time when NFTs have gained immense popularity worldwide, with some digital artworks selling for millions of dollars. However, the lack of regulation has also led to concerns about fraud and speculation in the market.

Feng Qiya’s proposal has been welcomed by many in the industry, who believe that it will help to establish a clear legal framework for NFTs and digital collections. It is expected that the proposal will be discussed at the Two Sessions meeting, and if approved, it could have a significant impact on the future of the digital collection industry in China.

The Two Sessions meeting is set to take place in Beijing from March 4 to March 11, and it will bring together some of the most influential political figures in China to discuss the country’s future policies and plans. The meeting is expected to cover a wide range of topics, including economic development, social welfare, and environmental protection.

Overall, Feng Qiya’s proposal highlights the growing importance of NFTs and digital collections in China and the need for a regulatory framework to ensure their healthy development. It remains to be seen how the proposal will be received at the Two Sessions meeting, but it is clear that the digital collection industry is set to play an increasingly important role in China’s economy and society in the years to come.

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