TechFlow News, October 25 — Reports indicate that regulators have intensified oversight of NFT platforms operated by internet companies. Currently, both Tencent's Huanhe and Alibaba's Ant Chain have completely removed references to "NFT," replacing the term with "digital collectibles." In response to these reports, Tencent's Huanhe stated that it has consistently focused on conducting digital collectibles business within a compliant framework. Huanhe implements full real-name user authentication, end-to-end content review across the entire chain, and does not allow transfers of digital items between users, firmly resisting illegal and non-compliant activities related to virtual currencies. The business model behind Huanhe's digital collectibles fundamentally differs from overseas NFT operations that lack regulatory oversight. Therefore, this rebranding reaffirms its high compliance standards and strict requirements to the public. Huanhe also expressed its commitment to working with Zhixin Chain to empower digital cultural creativity and digital art, actively exploring new ecosystems within the digital economy, and launching more popular digital collectibles.
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