China wants to ban the use of anonymous blockchains
A proposal of law could oblige the providers of technological services to provide their identity data to continue operating
A report issued this week highlighted that the anonymous blockchain networks in China will most likely have to reveal their true identity.
This is established by the new cybersecurity rules, which will be subject to popular consultation in the Asian region. For now they have a deadline for feedback on November 2nd.
In case this becomes an official law, the providers of blockchain technology must strictly provide their true data to the regulatory entities.
Xu Kai, a lawyer living in Beijing said “one of the most important issues that the new rules do not consider is that the blockchain technology is one in which the information can not be modified or deleted, which is against Chinese current laws.”
However, when these regulations come into force it would not yet be established how the authorities could restrict the use of decentralized networks such as the case of the ethereum.
K. Tovar
Source: Coincrispy
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