China's new encryption law defines state, business, & private password use

posted 9 days ago
On Jan. 1st, China’s law governing cryptographic password management came into power. Essentially, the act aims to set standards for the cryptography and managing passwords.

Local media outlets rumor that the law is paving the way for the long-awaited release of China’s central bank digital currency. And the private sector is worried about the anonymity of its data. The law outlines 3 separate kinds of encryption and divides passwords into 3 separate categories — core passwords, common passwords and commercial passwords. Core and common encryption are required for systems that transmit and store state secrets, while the commercial encryption is intended for business and private use.
Tags: blockchain, news