Censorship obligation imposed on middle-block chain enterprises

The Chinese Cyber Space Administration (CAC) has introduced a new regulation that excludes anonymity for block-chained businesses in China. There is a view that the Chinese government will support the cipher money, while the Chinese government can tighten the regulations and the industry may be upset.

According to the CAC, anonymity removal guidelines will be implemented on February 15th. Regulatory targets include both Web sites and mobile apps that provide information and technology support to Chinese citizens using block-chain technology. Within 20 days of the enforcement of the regulations, it is mandatory to register the company name, domain name and server address in the CAC.

When the CAC requests the user ID or smartphone number, the registration process can be inquired. Authorities also request permission to access stored data, and block-chain companies are obliged to monitor prohibited content and inspect information according to Chinese law. If the company fails to comply with such regulations, a fine of 20,000 to 30,000 Yuan may be imposed, and if it is a re offense, it may be a criminal case.

China first announced its draft block-chain corporate guidelines in October last year. Here too, we have included recommendations for excluding anonymity in the block chain. Some of the experts point out that the Chinese government is cryptographically supported. In contrast to the anonymity and merits of technology, the Chinese government seems to be strengthening the solidarity among its people and making the value proposition clear, so it is possible that some of them will be in a public block chain that is immune to censorship. For more information, please click here .