China’s government has demonstrated that they are not pro-crypto. However, investors have continued to defy the government’s warnings on the metaverse. More than 1,300 Chinese businesses have claimed to own metaverse-related trademarks.

The People’s Bank of China (PBoC) has issued a number of warnings about the metaverse, particularly, it is looking to clamp down on NFTs and the metaverse using AML tools. Since the increase in trademark filings by Chinese companies has been alarming, these warnings seem to have fallen on deaf ears. 8.534 businesses had applied for metaverse trademarks as of Sunday. But the big question remains whether any of them will get approval considering China’s history of crypto clampdown.

According to the PBoC’s AML unit, the metaverse poses a level of threat that requires a high level of vigilance. Additionally, digital assets are seen by the unit as illegal means of facilitating illicit activities due to the isolation of NFTs or metaverse tokens.

However, many prominent Chinese tech companies have filed metaverse trademarks. From gaming company Tencent to electronics brand Hisense, China’s second-largest gaming company NetEase (NASDAQ:), and even Huawei Technologies Co, major Chinese brands are lining up on the metaverse queue.

Tencent and Huawei could be approved by the government, if necessary. However, this approval may be subject to increased scrutiny.

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