China requires blockchain-based information service providers to register users using real names, censor postings and store user data

Chinese users will have to register their real names before they can use online information services based on blockchain, in the first set of rules specifically targeting the technology behind digital currencies like bitcoin that is known for providing anonymity for users.

Under proposed new rules, companies and entities operating in China that provide blockchain-based information services will have to ask users to register their real names and national identification card numbers, censor content deemed to pose a threat to national security and store user data to allow inspection by authorities.

The Cyberspace Administration of China published the draft regulations on its website on Friday for public consultation until November 2. It is not clear when the rules will come into effect…

Read more : SCMP, 22.10.2018