News Blockchain companies in China may have to censor content,...

Blockchain companies in China may have to censor content, state says · TechNode

-

- Advertisment -

China requires blockchain-based information service providers to register users using real names, censor postings and store user data–South China Morning Post

What happened: Last Friday, the Cyberspace Administration of China released the first draft of a set of regulations that could substantially restrict blockchain development within the country. Under the proposed regulations, which have been released for public consultation until November 2, blockchain-based service providers in China would require all users to register their real names and state ID numbers. Providers would also be responsible for censoring content that poses a risk to national security, and make user data available for government inspection. It is currently unclear when the regulations would be instated, if at all.

Why it’s important: Although the rules are still under development, they indicate China’s continued attempt to regulate blockchain-related enterprises within the country. Last fall, the Chinese government banned initial coin offerings and operations of the country’s largest cryptocurrency exchanges. In the months afterward, the crackdown continued. Despite setting up an official “blockchain pilot zone” in Hainan earlier this month, it appears national government intends to keep a tight rein over the development of the versatile digital technology.

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

3 Beginner Friendly Ways to Make Money with Cryptocurrency 2020

In this article, we will explain how to make money with cryptocurrency in 2020. These methods are...

Blockchain, Bitcoin, and Mashed Potatoes

According to studies, over the next 5 years, many of the major supermarkets are expected to...

Different Facets of Biometric Authentication and How They Are Making A Difference in The Financial Sector

When we think of authentication in the true sense, then we find ourselves amid the different proven...

UNICEF’s 125 ETH Investment Took Less Than 20 Minutes and Cost Less Than $20

"The digital world is coming to us faster than we could have imagined," said UNICEF chief Chris...
- Advertisement -Blockchain companies in China may have to censor content, state says · TechNode

Analysis: Is Bitcoin (BTC) Still Viewed As A Dark Web Currency?

There is a long past of Bitcoin (BTC) – due to its anonymity – being used in...

A Beginner’s Guide to Day Trading Crypto

Much of the activity that comes from the crypto-space originates from the crypto-trading community. Buying and selling...

Must read

Blockchain, Bitcoin, and Mashed Potatoes

According to studies, over the next...
- Advertisement -

You might also likeRELATED
Recommended to you