Close Menu
    X (Twitter)
    Blockchain Journal
    • News
      • Blockchain News
      • Bitcoin News
      • Ethereum News
      • NFT
      • DeFi News
      • Polkadot News
      • Chainlink News
      • Ripple News
      • Cardano News
      • EOS News
      • Litecoin News
      • Monero News
      • Stellar News
      • Tron News
      • Press Releases
      • Opinion
      • Sponsored
    • Price Analisys
    • Learn Crypto
    • Contact
    • bandera
    Facebook X (Twitter) Instagram
    Blockchain Journal
    Home » China Adopts Cryptography Law on Blockchain and Encryption

    China Adopts Cryptography Law on Blockchain and Encryption

    0
    By BlockchainJournal on October 27, 2019 Blockchain News, News
    Share
    Facebook Twitter LinkedIn Pinterest Email
    5/5 (1 vote)

    The All-China Assembly of People's Representatives approved the law “On Cryptography”, which defines the official procedure for using encryption tools.

    According to observers, the new regulatory act may be one of the measures to prepare for the launch of the People’s Bank of China, which is being developed the national digital currency . The law enters into force on January 1, 2020.

    Primitive Crypto Founding Partner Davi Wang shared this on Twitter with a link to the official media:

    Last piece of China BREAKING News before bedtime –

    This time is DEFINITELY CRYPTO ???

    A "Crypto Law" just passed by the National People's Congress … https://t.co/l6RX8Ivxnv

    ??it's hard not to belive all these are not paving the path for Digital RMB .. more reads below pic.twitter.com/x2FbskD3nk

    – Dovey Wan ? ? (@DoveyWan) October 26, 2019

    A.

    Van cites several excerpts from the document. Thus, the Central Agency for Cryptography under the leadership of the Chinese Communist Party (CCP) will develop fundamental policies for the use of cryptography and will coordinate efforts to solve important national security problems.

    The agency will encourage and support cryptography research, protect intellectual property rights, and promote the development of public / private key technology.

    “In general, this is the first law directly related to cryptography and private / public key management, ” Wang writes.

    The development of a new cryptography, hashing algorithm, and even the use of technology will be in the official legal field. This means that you have to comply with the PDA standards in all “encrypted” behaviors, which can be interpreted very widely: from mining to block transfer. ”

    Although there is no direct mention of cryptocurrencies , either decentralized or state, in the law, Wang believes that, among other things, he aims to prepare for the launch of the digital renminbi at the end of this or the beginning of next year.

    Earlier this week, Chinese leader Xi Jinping spoke about the need to develop blockchain initiatives, highlighting a number of areas where the technology can be successfully applied to solve current problems.

    Publication date 10/27/2019
    Share this material on social networks and leave your opinion in the comments below.


    blockchain Congress Featured LINK Twitter
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    BlockchainJournal

    Related Posts

    Hyperliquid’s USDH stablecoin call sparks fairness and governance debate

    September 5, 20253 Mins Read

    SharpLink to explore staking part of its $3.6 billion ETH treasury on Linea

    September 5, 20253 Mins Read

    Strategy Inc.’s path to the S&P 500 faces committee discretion, extreme volatility, and Bitcoin-dependent results

    September 5, 20253 Mins Read

    Coinbase accelerates toward a majority of AI-generated code amid a global trend

    September 5, 20253 Mins Read

    World Liberty Financial Blocks Justin Sun’s Wallet Amid WLFI Controversy

    September 5, 20253 Mins Read

    SEC bets on a pro-crypto agenda with a series of rulemakings on digital assets

    September 5, 20252 Mins Read

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    © 2025 Blockchain Journal

    Type above and press Enter to search. Press Esc to cancel.

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.