Some of China’s biggest tech firms including the likes of JD, Tencent, and Alibaba’s Ant Group have signed a “self-regulating pact” that involves a commitment to “fighting” or “eliminating” cryptoassets.
Per JRJ and NBD, the agreement was sealed at a meeting led by the National Copyright Exchange Center Alliance, a government-led copyright regulator that was founded by a decree from the State Council, the executive body of the central Chinese government.
The meeting saw Ant, Alibaba’s fintech arm, the tech and entertainment giant Tencent’s cloud division, and the IT arm of the e-commerce behemoth JD (also known as Jingdong) in attendance, in addition to the China Academy of Art, the Hangzhou Internet Notary Office of Zhejiang Province, as
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