China Wants To Stop Anonymous Blockchain Use: Reports

New cybersecurity rules currently out for public consultation in China would notionally force users to provide their real identity to use any kind of Blockchain-based service.

New cybersecurity rules currently out for public consultation in China would notionally force users to provide their real identity to use any kind of Blockchain-based service.

BLOCKCHAIN? YOU’LL NEED YOUR NAME AND ID

As South China Morning Post (SCMP) reports quoting local media sources, the Cyberspace Administration of China is currently seeking feedback on the proposals, the deadline for which is November 2.

Should they become law, any provider utilizing Blockchain technology would face legal demands to ensure all users provide their real name national identity card numbers in advance.

The news is the latest step in China’s crackdown on the anonymity benefits Blockchain can afford, which runs contrary to existing data privacy laws, SCMP notes.

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