On January 10th, China’s Cyberspace Administration recently announced new guidelines for operational blockchain firms in the country. The guidelines, according to the CAC, will be in effect on February 15th and were established to contribute to the industry’s healthy development. The firms described in the document are subject to new regulations for mobile apps or websites that provide technical support and information to the public through the use of blockchain technologies. Once the regulations are in effect, they will have to register their server addresses, domains, and names within 20 days to the CAC. Blockchain startups will be required to introduce procedures that would require mobile numbers or ID cards from their users as well as allow authorities access to stored data. Additionally, they will censor information that’s prohibited under Chinese law and oversee content. Should a firm fail to comply with the new guidelines, it may face fines ranging from around 20,000 to 30,000 yuans ($2,900 to $4,400 in US dollars). If a company is involved in a serial offense, they could be criminally investigated. In October, China released draft guidelines for blockchain companies that contained recommendations to eliminate anonymity. According to an article in The South China Morning Post, an Asian newspaper, an anonymous open letter that was published in April on the Ethereum (ETH) blockchain accused officials at a prestigious Chinese university of sexual harassment. The newspaper believes that the disclosure of this letter could be a motivating factor behind the new rules. Guangzhou, Shanghai, and Beijing are piloting the new blockchain legislation in China. A report in December from Securities Daily, a finance publication, says that there are 11 blockchain-related policy reports in these three areas. China is currently upholding a 2017 de facto ban on trading domestic cryptocurrency. In February of 2018, the Chinese government added initial coin offering (ICO) and cryptocurrency exchanges to their Great Firewall. The People’s Bank of China approved this decision along with regulators and the country’s central bank.