The time has come when the blockchain industry in China might face heavy scrutiny, due to the new laws introduces by the authority. Moreover, the regulatory body declares on their official website, stating about the new regulations to come in action by February.
From the coming month onward this regulation will try to advance a healthy and orderly development of the industry. According to the document, every blockchain firms, online websites along with mobile apps offering technical support or information to the public via blockchain technology will be subject to the “anti-anonymity regulations”.
Chinese Anti-Anonymity Regulations
These regulations will probably come into action on February 15, the next month. According to this rule, every blockchain operating businesses need to register their domains, names, and server address with the CAC that too within 20 days.
The new blockchain companies | platforms will have to implement severe KYC measures. Moreover, the user is…