Chinese regulator publishes approved blockchain companies

A group of 197 companies in the Asian region received authorization from the regulatory entity to be able to operate officially within the area

The China Cyberspace Administration published this week the first list of blockchain technology companies that received authorization to operate in the region.

This was published on its official website, where a list of 197 registered companies is shown and which should have a visible and prominent registration number.

Among the approved companies are Baidu Blockchain Engine (BBE), Alibaba Cloud Blockchain-as-a-Service (BaaS), Tencent TBaaS (TBaaS) and the BaaS platform, owned by JD.com. They also include financial institutions such as China Zheshang Bank and Ping An Insurance Company, which have decided to register their blockchain services.

The director of the Internet Research Institute DCCI, Liu Xingliang said that “in the past, when the market was barely regulated, technology was abused by some rebel companies, some of which were scammers, to attract small investors.”

He also added that “now with the participation of large companies, legitimate research and the development of technology is now possible, and the possibilities are now much higher for a secure future with blockchain technology.”

The official statement also indicates that the CAC will monitor the companies in the sector and will urge the undocumented entities to comply with the registration requirements.

K. Tovar

Source: Coincrispy

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