China: China Imposes Blockchain Rules to Enable ‘Orderly Development’

Reuters

Chinese blockchain platforms will have to censor content, allow authorities access to stored data and check the identity of users under rules set out on Thursday by Beijing. The Cyberspace Administration of China (CAC) said that the regulations, which will come into force next month, will “advance the industry’s healthy and orderly development.” China has cracked down on cryptocurrencies since 2017 when the government banned initial coin offerings and barred local cryptocurrency exchanges from operating domestically.

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