The Metaverse Industry Committee and two other associations issued the "Self-Regulatory Requirements for the Healthy Development of Digital Collectibles."

Chain Catcher News, on September 4, the Metaverse Industry Committee of the China Mobile Communications Association, the Blockchain Professional Committee of the China Communications Industry Association, and the Metaverse Think Tank Committee of the Zhongguancun Big Data Industry Alliance issued the "Self-Regulatory Requirements for the Healthy Development of Digital Collectibles," once again calling for industry self-discipline and setting regulatory requirements for member units of the organization: adhere to integrity and innovation, play a positive role; strengthen industrial collaboration, empower cultural soft power; resist disorderly speculation, promote standardized development; uphold compliance bottom lines, and stay away from illegal models.

The document states that although in April the Metaverse Industry Committee and the Blockchain Professional Committee of the China Communications Industry Association jointly released the "Metaverse Industry Declaration" and the "Metaverse Industry Self-Regulatory Convention," the digital collectibles industry is still in its early development stage. Some enterprises have weak risk awareness, leading to a series of issues such as speculative hype, technology abuse, copyright infringement, fictitious value, irregular transactions, and potential financialization. Moreover, risks such as fraud, pyramid schemes, money laundering, and illegal fundraising remain persistent. (Sina)