China Blockchain Discrimination Policy and Regulation Act 2021

Blockchain policy has played an important role in the development of our country's blockchain industry, the development of blockchain technology and industry has also been seen as a national strategy. By 2020, the central and local blockchain linked to advocacy rights has been severed. competition will intensify in 2021. In addition, while actively supporting the development of blockchain technology, the impact of rules on virtual results remains significant.

To focus on the development of the blockchain industry, 01 Blockchain and Zero One Think Tank will publish the "China Blockchain Industry Development Census Report (2021)", and related organizations can participate by providing new examples.

(1) The whole status of good blockchain industry in China in 2021

Since the rise of blockchain as a national strategy, the government has been paying more and more attention to the blockchain industry. With the support of the rule of law, China has a prosperous economy and wealth in the status quo. The measure of blockchain policy in 2020 has seen explosive growth, and regulations in 2021 could control that level. 01 According to incomplete blockchain statistics, the number of blockchain-related policies announced by central government, offices, councils, states and cities in 2021 reached 1,101 patients. This price is higher than its pre-2019 price, so blockchain support for this year's policy is still high.

Figure 1: Evolution of the number of blockchain-related policies from 2016 to 2021

Source: 01 Blockchain data incomplete

In March 2021, blockchain was developed in the "14th Five-Year Plan for National Economic and Social Development of the People's Republic of China and Long-Term Strategy for 2035", planning to create new results. Understand digital marketing and become an advocate for digital business. Support innovation in blockchain technology, improve blockchain service platforms and applications in financial industry, chain management and government services, with an emphasis on collaboration, and improve management procedures . In addition, the policies have been extended to many areas. Among them, Guangdong Province has implemented the country's most blockchain policy with 111 regulations, and Shandong, Beijing, Jiangsu and Shanghai have also introduced several regulations for development. blockchain industry. .

This year, the blockchain-related policy is mainly to promote and support the market, but at the same time, the high policy of monitoring and suppressing virtual benefits continues. Cryptocurrency can easily be linked to fraud and criminal activity such as money laundering and money laundering thus posing a threat to the market. In addition, "mining" virtual currency does not contribute to good business because it contains a lot of carbon and energy, and the production and marketing of virtual currency can have a negative impact on capital investment. and relationship development. Therefore, many states and cities will update their virtual currency "only" in 2021 to protect forecasts and markets.

(2) China's blockchain industry policy

The federal government and every department are looking to improve the direction of the blockchain industry, and in terms of the number of blockchain policies announced in the middle, there are 132 blockchain-related authorities released by every department and committee. in 2021. Among them, the most published were by the State Administration Council (18 people), the Ministry of Industry and Information Technology (15 people). ), The Ministry of Commerce (13 people), the Executive Committee of the People's Republic of China (9 people), National Cyber ​​Space Administration (8 people), and other departments.

Figure 2: Number of blockchain-related policies announced by central government and various agencies and groups in 2021

Source: 01 Blockchain data incomplete

Of the nine laws enacted by the federal government, most blockchains deal with infrastructure as well as technologies such as big data, AI, cloud computing and the Internet of Things. An interconnection of blockchain and other technologies has been developed to support industrial development. The blockchain model meets the demands of the digital age of business, promotes the use of technology, and encompasses a wide range of applications such as business, human life and government action.

Table 1: Blockchain policy announced by the central government

Source: 01 Blockchain data incomplete

In response to a government call in 2021, each state and city is committed to supporting and promoting the development of blockchain-related industries, and seeking the integration of blockchain technology with various industries. According to incomplete statistics from Blockchain 01 and Zero One Think Tank, Guangdong (111 items), Shandong (74), Beijing (73), Jiangsu (63), Shanghai (56), Zhejiang (50) and others. to work. blockchain. - Related policies. These regions are now the tallest cities in the national blockchain industry.

Table: 2 Ranking of the number of blockchain-related policies announced by the city government

Source: 01 Blockchain data incomplete

Currently, around 29 states and cities have recorded blockchain technology improvements in the “14th Five-Year Plan,” and states that have announced multiple blockchain rights have multiple blockchain development plans and goals. Guangdong, Shandong and Zhejiang provinces plan to develop high-tech blockchain according to local conditions, Jiangsu province has focused on using blockchain for city management, and Beijing has focused on the development of blockchain according to new industries. development. global blockchain.

Table 3: Some states and cities where blockchain is involved in the “14th five-year plan” area in 2021

Source: 01 Blockchain data incomplete

(3) The oversight status of the Chinese cryptocurrency industry

In terms of governance framework, 01 Blockchain and Zero One Think Tank wrote about basic governance procedures related to the Korean blockchain industry in the "China Blockchain Policy Census Report 2019". . The company's company, the Internet Security Urban City Executive Committee Working Group, China Internet Finance Association and its partners are mainly responsible for virtual currency trading and other activities with financial products, such as financial tokens. , with the participation of various regional financial management bodies, led by the Ministry of Industry and Information Technology of China and its affiliates, is responsible for the design and integration of blockchain technology through the collaboration of industry, educational and research institutes and other organizations; and education. Rapidly develop blockchain processes, mainly responsible for the security of information services of the National Internet Intelligence Agency's blockchain network, design and support the development of voice blockchain technology and services, intervene and prevent service security risk of blockchain data.

Figure 3: The structural structure of the Chinese blockchain industry

The virtual currency monitoring service first appeared in 2013. Five companies, including the People's Financial Corporation of China, published a "Bitcoin Risk Protection Notice", stating that Bitcoin is a unique virtual product and no does not have the same legal provisions. currency status. It is not used to earn money in the store. In 2017, seven departments and the board of directors, including the Joint Venture Corporation, jointly announced the “Debt Consolidation Protection Notice” aimed at removing virtual currency from finance capital. With the rise of cryptocurrencies and NFTs this year, the country has been hit hard by the war on virtual currency.

In May this year, China Internet Financial Partners, China Financial Institutions Corporation and China Financial Institutions and Partnerships jointly announced the announcement of speculation risk hedging on virtual currency exchange. Currency trading. On June 21, the bank met with Alipay and five major banks, including the Commerce and Industry Corporation of China and the Agricultural Bank of China, to establish the status quo of the cryptocurrency market and request a “research and analysis” of the cryptocurrency. blocked data. Bank accounts. all changes. Related. In September, the venture capital firm released a "Virtual Business Risk Prevention and Control Notice" which clearly indicated the state of the virtual and the virtual benefits affecting performance and clearly described the implementation process. . for industry. Monitoring the speculative risk of cryptocurrency trading and improving the risk of speculative trading.

Another important policy this year is the rules for cryptocurrency “mining” operations. On May 21, at the 51st meeting of the Financial Security and Reform Commission of the State Commission, protests against mining and the bitcoin economy were discussed, and personal risk is determined. by referring to a relationship. Since then, many areas have started to explode on the "mining" of virtual currency. According to incomplete statistics, in December of this year, 12 provinces of our country are Inner Mongolia, Qinghai, Xinjiang, Yunnan, Sichuan, Anhui, Hebei, Jiangsu, Zhejiang, Fujian, Jiangxi and Hainan. .

Table 4: States and cities will hit “mining” in 2021

Source: 01 Blockchain data incomplete