China to start regulating blockchain firms next month

posted 2 months ago
China’s internet censorship agency has approved a set of regulations for blockchain service providers in the country that will take effect in mid-February. The Cyberspace Administration of China (CAC) published its new “Regulation for Managing Blockchain Information Services” defining blockchain information service providers as “entities or nodes” that offer information services to the public using blockchain technology via desktop sites or mobile apps. The rules become official on February 15th.

Among the 23 articles listed in the document, one requires blockchain service providers to register with the CAC within 10 working days of starting to offer services to the public.
The agency also mandates that blockchain startups must register their names, service types, industry fields and server addresses. Further, it bans startups from using blockchain technology to “produce, duplicate, publish, and disseminate” information or content that is prohibited by Chinese laws.
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