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China’s tax officials have jumped on the NFT bandwagon

Tax bureaus in Shanghai and Chengdu have released tokens based on Tencent’s blockchain, indicating that more government agencies in China are embracing NFTs.

On Friday, Shanghai will release 2,000 NFTs featuring its tax office mascot.

On Tuesday, Chengdu’s tax office distributed 1,000 NFTs commemorating significant dates in China’s tax history.

The changes occur as tax departments release their most recent tax rules in April.
According to the announcements, all of these NFTs are non-transferable to avoid speculation.

More state agencies are adopting NFTs as China’s financial sector groups recognize their potential to enhance cultural industry development.

Last week, Chinese telecom giant China Telecom established its NFT marketplace for the first time on Monday to observe China Space Day.

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