B) The US should do something, because if they don't, China will continue to take advantage of US ineptness. States have powers which investors simply don't have.
Now what, the government stops people from trying to make a quick buck on a high risk investments? We can start from stopping Americans from paying 7 figures for digital drawings of monkeys
NFTs are even more moronic than that: they are nothing more than links to external content - Tweets, images, videos, whatever. Meaning that everyone who wants to see and reproduce the content you paid a million dollars for only has to download and dump the corresponding blockchain... and also meaning that you are the proud owner of a bit of nothing when the external hosting service goes down.
If you ask me, NFTs are a combination of tulip mania, scams and good old-fashioned money laundering using art.
The example i use is this. Think of the Green Rolling Hills photo that was on however billion windows desktops. The original owner could have copyrighted that photo and registered its first upload onto the blockchain. It is registered then as the first photo of a very specific high use photo and i would say that digital asset has a value.
Crypto Kitties etc are not my cup of tea, its the value created by the option of the tec that i think will have ramifications. I am working on a project in this space currently.
That's what the US has the Copyright Office for ffs!
You are focusing on this one type of transaction whereas the reality is that the Chinese state exercises influence in a lot of other areas where US investors have no control. Say, for, example using state-sponsored hacking and espionage to give an unfair advantage to their investors on the international free market. Something US investors could go to jail for if they tried to do. I repeat, if the US doesn’t fight for US investors interests, China will nonetheless fight for theirs.