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China Regulates Blockchain

China published new rules to request blockchain service providers to get the real name of each user and not to publish contents that do not conform to the authorities’ requirements.

The Cyberspace Admission Office issued the “Regulations on the Management of Blockchain Information Services” on January 10, 2019. The regulations will take effect on February 15, 2019.

The Regulations state that the blockchain service provider holds the main responsibility for the safety management of the contents, that it should implement a real ID identification system for its users, that it cannot use blockchain to conduct activities that are prohibited by law or by administrative regulations, and that it cannot produce, replicate, publish, or spread information prohibited by the law or by administrative regulations.

Source: Cyberspace Admission website, January 10, 2019