Cyberspace Administration of China approves 309 more blockchain firms

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The cyberspace regulator of China has published a list of registered blockchain service providers running to 309 companies, 8BTC reported.

The Cyberspace Administration of China (CAC), which is responsible for overseeing the Internet, as well as regulating online services and content, published details of the companies registered to offer blockchain services.

According to local media reports, the companies come from a wide range of sectors including law, ecommerce, healthcare and cultural tourism.

While the list (in pdf) names some of China’s largest companies, such as Industrial and Commercial Bank of China and China Southern Airlines, there are also a number of startups involved in crypto wallets, public chains, and mining pools.

A number of government agencies were also included, with The State Administration of Foreign Exchange and Hangzhou Internet Notary Office among the entities listed.

The list follows on from the first round of registrations, which was published back in March. At the time, 197 firms were included, taking the total number now registered to provide blockchain services in China to 506.

The CAC has been a controversial actor in the Chinese crypto scene, since the introduction of the “Regulation for Managing Blockchain Information Services” rules in October 2018. These required blockchain operators to verify user IDs and real names for everyone using their services, as well as a requirement to store and make available customer data for state inspection.

The rules also prohibit companies from using blockchain technology in any way deemed detrimental to national security, including to “produce, duplicate, publish, or disseminate” any damaging data through blockchain networks.

The expanded list of registered blockchain companies reflects the growing confidence with which China is regulating and growing its blockchain industries.

It comes amid rumors the People’s Bank of China (PBoC) is planning the imminent launch of a central bank issued digital currency, which would become the first major global currency to be issued on the blockchain.

The firms join the likes of Alibaba, Baidu and Tencent as firms registered to operate in blockchain markets in China.