The Cyberspace Administration of China ("CAC") has recently distributed the Administrative Provisions for Block Chain Information Services (the "Provisions"), with effect from February 15, 2019.

The Provisions provide that, block chain information service providers shall fulfill their subject responsibilities for safety management of the information content, be equipped with technical conditions commensurate with their services, formulate and publish management rules and platform agreements, and implement the real identity verification mechanism; they shall not take advantage of block chain information services to carry out any activities banned under laws and regulations or to produce, reproduce, publish or disseminate information content prohibited under laws and administrative regulations; a block chain information service user will be subject to certain measures under the law or as per the agreement, if it breaches any laws, administrative regulations or the service agreement.

(Source: www.cac.gov.cn )