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Blockchain Under Threat in China, Govt. Enforcing “New Regulations on Blockchain Management’ From February 15

Chinese media reports that last year, netizens in China have used Blockchain technology to record the ‘open rape letter of North university student’ as the evidence (which had happened 20 years ago). So to preserve the national security and public interest, Chinese officials on Jan 10, 2019, have released ‘new regulations on the management of blockchain technology’ which will come into effect from February 15, 2019.

Blockchain seen as a threat by China

A note from the official announcement said;

The Regulations on the Management of Blockchain Information Services has been reviewed and approved by the Office of the Internet Information Office of the State Council and is hereby promulgated and will be implemented as of February 15, 2019.

Since any record or transactions entered via blockchain cannot be altered, officials reviewed that people in China are employing blockchain to spread the illegal information. As such, they’re exploiting the public interest. With this in consideration,…

Read Full Story : Coingape

2019-01-14 11:09:58

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