Chinese Cyber Authority to Censor Blockchain Content

The Cyberspace Administration of China said this week that blockchain platforms in the country will have to censor content and give authorities access to their data and identities of users, under the new rules set by Beijing.

The new regulations, which are scheduled to take effect next month, will also require blockchain platforms to implement real-name registration for users using their national ID or telephone number, with violators to be subject to fines or prosecution.

Despite the crackdown on cryptocurrencies, the Chinese government is still encouraging research into blockchain technology which is now increasingly being used in areas such as crude oil trading or supply chain tracking.

Source: Reuters

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