• Paypal adds cooling feature for NFTs transactions to curb speculation

  • Chinese payment app Alipay now requires users to hold NFTs for 180 days before transferring them.

    Alipay has updated the terms of use for its NFT Marketplace applet, one of the super apps.

    Alipay, the second most popular digital payment app in China, says the applet should not be used for speculation.

    The terms say that users can only send NFTs to accounts that have been verified with their real names.

    The terms also state that the copyright of a digital work belongs to the creator or distributor and that the buyer cannot use it for commercial purposes without consent.

    The applet is primarily designed to cater to fans of the NFT who want to buy celebrity memorabilia.

    The global NFT market has been picking up, with the market trading at an all-time high.

    Chinese financial regulators are strongly opposed to market speculation and they have often reiterated their stance on the highly volatile cryptocurrency market.

    Alipay’s parent company, Ant Financial, has been trying to “correct” its position with regulators for nearly a year after abruptly halting its IPO last year.

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