China Requires Blockchain-Based Information Service Providers To Register Users Using Real Names, Censor Postings and Store User Data

Chinese users will have to register their real names before they can use online information services based on blockchain, in the first set of rules specifically targeting the technology behind digital currencies like bitcoin that is known for providing anonymity for users. From a report: Under proposed new rules, companies and entities operating in China that provide blockchain-based information services will have to ask users to register their real names and national identification card numbers, censor content deemed to pose a threat to national security and store user data to allow inspection by authorities. The Cyberspace Administration of China published the draft regulations on its website on Friday for public consultation until November 2. It is not clear when the rules will come into effect. The latest rules come after an activist in China published an open letter in April about an alleged cover-up of sexual harassment at a top university more than two decades ago on the ethereum blockchain, after the post attracted censors on social media platforms such as WeChat and Weibo. The anonymous poster attached the letter to an ether transaction to himself, in a move similar to leaving a note in a bank transfer. But since all transaction records are public on ethereum, the letter can be read by anyone.

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