The gist is that the Chinese government shall have complete control over the information published on any blockchain in China; that users cannot be anonymous; and that blockchain providers need to start showing their users formal terms and conditions and service agreements that highlight the responsibilities of each party.
Here are the rules and some background in more detail:
Note: This is obviously not legal advice. It's a Google-translated and mildly editorialised interpretation of the new regulations.
All blockchain providers within China are required to operate according to these standards.
- The Internet Information Office of each relevant region will be responsible for enforcing the laws. Self-policing will be encouraged. Essentially, everyone working on or with blockchain in China will be urged to get on board with the new rules.
- Blockchain providers must be able to control the blockchain, including the ability to remove illegal content from the blockchain and control what kind of information is published on it.
- Blockchain providers will be required to collect personal identification information from blockchain users, based on their company, ID card number or mobile phone numbers.
- Blockchain providers cannot serve anonymous users.
- Blockchain providers will be required to codify the terms and conditions of their platform, and obligations of providers and users, under formal service agreements.
- Anytime a blockchain provider develops new products, features, functions or starts offering new services, it should report to the local Internet Information Office to subject it to a "safety assessment".
- Blockchain providers and users should not use blockchains for illegal purposes (go figure), including those which "disrupt social order".
- Prohibited content shall not be copied, published or disseminated on blockchains.
- Blockchain providers must be registered, must clearly show the details of its registration so people know it's a legitimate service, and will be periodically inspected.
- Blockchain providers are required to take appropriate measures when they encounter users who break the law, such as alerting the appropriate authorities, and are required to take timely action to prevent the spread of illegal information.
- Blockchain providers are required to cooperate with authorities and render technical assistance where needed.
- There will be trouble for those who do not comply.
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