The Administrative Regulations on Blockchain Information Services entered into force on 15 Feb. 2019.
There are 24 articles in total. The Regulations aim to supervise the blockchain information services within the territory of China. The key points of the Regulations include:
The Cyberspace Administration of China and its local government counterparts are the regulatory authorities in this field.
Blockchain information service providers (hereinafter referred to as “service providers”) shall file their services with regulatory authorities. Service providers are subjects or nodes that provide blockchain information services to the public.
Service providers shall authenticate the user’s identity information. If the user does not accept the authentication, service providers shall not provide services to him/her.
Service providers and their users shall neither engage in illegal services nor spread illegal contents.
Service providers shall record the content, log and other information published by their users, and provide such information for inspection by relevant law enforcement departments according to the law.