BUSINESS China to ramp up supervision of blockchain platforms: CAC


China to ramp up supervision of blockchain platforms: CAC

Global Times

17:44, June 09, 2021

blockchain (Photo: Unsplash)

The Cyberspace Administration of China (CAC) held a meeting on Monday tackling cross-border gambling networks, the CAC's public Wechat account said on Wednesday, and it will be tasked with efforts to combat overseas gambling groups and strengthening the supervision of related block chain service platforms.

CAC reported four proposals to crack down on cross-border gambling networks, including enhancing precision strikes on overseas gambling groups, strengthening supervision of blockchain services and related platforms, consolidating the responsibility of online platforms, in addition to forming effective structure within responsible authorities.

CAC will enhance precision strikes on overseas gambling groups that use the internet to attract or induce people to gamble, noting that the department will continue cracking down on online gambling promotional chains, and rectifying online platforms involving in live-streaming activities, short-video platforms and other platforms that secretly promote gambling information.

Online platforms that provide paid promotion services for overseas gambling and disseminate harmful information about gambling will be severely punished.

And, the CAC will ramp up monitoring of blockchain services, while increasing scrutiny on servers, cloud storage, communication transmission, virtual private network services (VPN), and other internet technology companies providing services for online gambling activities aims to strengthen the management from the roots.

China's industry watchdog and cyberspace regulator jointly published a guideline on Monday to boost the country's development and application of blockchain technology, which announced a plan to strengthen China's blockchain industry.

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