The Chinese government released a statement on Nov. 10 declaring that anyone stealing digital collections, such as nonfungible tokens (NFTs), will be subject to theft sentences.
It outlines three views on the type of crime that theft of digital collections falls under, the first two classifying it as either data or digital property. However, the statement stresses the third view which sees digital collections as both data and virtual property that would fall under the umbrella of “co-offending.”
The statement explained that stealing a digital collection includes intrusion into the system on which it is housed, therefore also committing the crime of illegally obtaining computer information system data and theft.
“The theft of digital collections violates the protection law and interests of the crime of illegally obtaining computer information system data.”
It elaborates on this topic, naming digital collections “network virtual property” and stressing that in the criminal law context, “collections should be recognized as property.”
“Since property is the object of property crime, digital collections can obviously become the object of property crime. If the digital collection is stolen by intrusion into the system or other technical means, the act also damages the property law.”
NFTs were specifically mentioned, establishing that digital collections are derived from the concept of NFTs “abroad” and use blockchain technology to “map specific assets” with “unique, non-copyable, tamper-preventing, and permanent storage characteristics.”
The declaration said that although China has not opened the “secondary flow market” for digital collections “consumers can rely on trading platforms to complete purchases, collections, transfers, destruction and other operations to achieve exclusive possession, use, and disposal capabilities.”
Despite China’s official ban from 2021 on nearly all crypto-related activity and transactions other than simply owning cryptocurrencies, there has been recent buzz surrounding NFTs.
A local Chinese media reported on Oct. 25 that the Alibaba-owned peer-to-peer marketplace Xianyu removed its censorship of “nonfungible tokens” and “digital asset” related keywords in its search.
Prior to that, on Oct. 6 China Daily, an English-language newspaper owned by the Chinese government, announced that it wanted to create its own NFT platform and would award 2.813 million Chinese yuan ($390,000) to a third-party contractor to design the platform up to its specifications.
There are more tough choices to come on Ukraine and Britain must “lead from the front”, Sir Keir Starmer has said.
The prime minister gave a statement in parliament after he unveiled proposals for a “coalition of the willing” to enforce any peace deal in the war-torn country, and announced a plan for Kyiv to use £1.6bn of UK export finance to buy 5,000 more air defence missiles.
He said the “tough choices that we made last week are not done” and a “lasting peace” in Ukraine “has to be our goal”.
“Britain will lead from the front for the security of our continent, the security of our country, and the security of the British people,” he said.
It follows a hectic week of diplomacy for Sir Keir, during which he held talks with Donald Trump in the White House on Thursday, hosted Ukraine’s president in Downing Street on Saturday and then a wider summit of world leaders on Sunday.
Sir Keir said the showdown is something “nobody wants to see” but he would not pick a side.
He called America an “indispensable” ally, adding: “We will never choose between either side of the Atlantic
Image: Zelenskyy and Starmer. Pic: PA
“In fact, if anything, the past week has shown that that idea is totally unserious because while some people may enjoy the simplicity of taking a side, this week has shown with total clarity that the US is vital in securing the peace we all want to see in Ukraine.”
In front of the world’s cameras on Friday, Mr Trump accused the Ukrainian president of “disrespecting” the United States and “gambling with World War Three” after he expressed scepticism that Vladimir Putin could be trusted to honour ceasefire agreements.
It has intensified fears among some Western leaders that the US cannot be relied upon to continue supporting Ukraine, or provide a security guarantee to deter the Russian leader if a peace deal is struck.
After the PM’s statement, Liberal Democrat leader Sir Ed Davey said the UK needs to “reduce our dependency on the United States” as he fears President Trump is “not a reliable ally with respect to Russia”.
However, many other opposition politicians have praised Sir Keir’s diplomacy this week, with Tory leader Kemi Badenoch backing the prime minister for “working with allies in Europe and with the United States to bring peace to Ukraine and not a surrender to Russia”.
Sir Keir has been positioning himself as a peace broker between the US and Europe following Mr Trump’s ascension to the White House and his clear indication he no longer wants to bankroll NATO’s defence.
He has suggested a coalition of European allies could step up and defend a potential deal for Ukraine to “guarantee the peace” and indicated some EU nations could follow in the UK’s footsteps and increase defence spending.
However, he argues that while a security guarantee should be led by Europe, it needs US backing.
In response to a question from Reform UK leader Nigel Farage, Sir Keir told the Commons this would “not be enough on its own”.
In any case, the deal has been put on hold following Mr Trump’s row with the Ukrainian president.
Shortly after the PM finished speaking, Mr Trump hit out at Mr Zelenskyy once again, saying the US would “not put up with him” for much longer after he said the end of the war with Russia is “very far away”.