Looking at the 2nd Anniversary of September 4th from the August Policy: Central Ministries Promote the Development of Digital Currency, Guangdong Lulu Promotes Blockchain Application

Two years ago, on September 4th, the central bank and other seven ministries and commissions issued the "Announcement on Preventing the Risk of Subsidy Issuance Financing", explicitly prohibiting any foreign currency issuance financing activities, which has formed a certain impact on the domestic digital currency field.

After two years, China's digital currency and blockchain development has become more standardized. At the same time, with the launch of Libra, the development of China's legal digital currency is also accelerating.

Judging from the changes in the central and local blockchain policies and the blockchain market, the previous two years were affected by 9.4. In August and September, the blockchain field was full of turmoil and grass.

Inter-chain pulse observation, in August this year, not only the number of information related to regulatory policies decreased, but with the increase in the number of supporting policies, August can be called the accelerated period of the development of legal digital currency in China.

• Former US Congressman: The encryption industry is the next source of economic innovation in the United States
• The Brazilian Internal Revenue Service requires citizens to report all cryptocurrency transactions, and unreported people will face fines
• Libra has not yet launched a large number of fake web pages, and Swiss regulators require Libra to provide more information.

On August 2, the central bank proposed to accelerate the pace of research and development of China's legal digital currency in the second half of the year; on August 18, the State Council issued opinions on supporting Shenzhen's pioneering demonstration of socialism with Chinese characteristics and proposed to support the development of digital currency in Shenzhen. Research and mobile payments.

At the same time, local governments such as Guangzhou, Shandong, and Chongqing also have a number of blockchain support policies, focusing on the development of blockchain applications.

August after 9·4 two years: domestic regulatory policy less support policy information growth of 72.72%

According to incomplete statistics of inter-chain pulse, in August, there was only one policy information related to blockchain regulation in China. This is the announcement issued on August 9th by the Office of the Internet Information Office on the provisions of the “Regulations on the Management of Blockchain Information Services”.

The announcement clearly states that relevant enterprises may entrust a measurement agency with relevant qualifications to carry out safety assessment, or conduct self-assessment of safety risk on the blockchain information service, and submit a safety self-assessment report as required. The announcement of this announcement means that the Internet Information Office is further promoting the compliance of the development of blockchain information subjects.

Compared with only one regulatory policy information, there are more policy information related to blockchain support this month. This number has increased by 72.72% compared with the number of blockchain support policy information (11) last month.

Mutual chain pulse observation, this month, the institutions, provinces and cities that provide relevant information to support the policy are more concentrated. The largest number is the central ministries, and a total of 5 blockchain support related policy information is proposed.

(Cartography: Mutual Chain Pulse Institute Data Source: Public Information)

In terms of support, the central ministries and commissions focused on the field of digital currency. On August 2, the central bank proposed to accelerate the pace of research and development of China's legal digital currency in the second half of the year; the “Financial Science and Technology Development Plan” issued at the end of the month also mentioned the promotion of verification pilots and R&D of distributed books and other technologies; August On the 18th, the State Council issued an opinion on supporting Shenzhen to build a pioneering demonstration area of ​​socialism with Chinese characteristics, and proposed to support digital currency research and mobile payment in Shenzhen.

In addition, this month the Supreme People's Court took the lead in formulating requirements and management norms to guide and regulate the national court data chain. After that, the Jiangsu court also issued guidance to affirm the evidence of blockchain, timestamp and other preservation or acquisition.

The Ministry of Industry and Information Technology and other ten departments also issued the "Guiding Opinions on Strengthening Industrial Internet Security Work" on August 28, proposing to explore new technologies such as blockchain to improve the level of security protection.

After ranking in the central ministries, Guangdong, Chongqing, and Shandong provinces have three blockchains to support relevant information this month.

Among them, Jiangmen City and Zhuhai City of Guangdong Province are concerned about the combination of blockchain and financial sector. On the 17th, Jiangmen City issued a working paper promoting the development of science and technology, encouraging financial institutions to apply new technologies such as blockchain in the financial sector. On the 21st, the Financial Services Bureau of Hengqin New District of Zhuhai released the “Zhuhai-Macau” blockchain+ Featured Finance" White Paper. Huangpu District of Guangzhou City further encourages the development of blockchain talents. In the document on the gathering of talented overseas talents released on the 22nd, it was pointed out that “foreign talents” include talents in the blockchain field.

Chongqing, which continues to be deployed in the blockchain field, has further actions this month. At the beginning of the month, the Chongqing Municipal Government issued the “Guiding Opinions on Accelerating the Transformation and Upgrading of the Industrial Internet Platform Enterprise Empowering Manufacturing Industry”, and proposed to improve the blockchain industry innovation base and other platform enterprises to gather carriers. At the end of the month, Chongqing signed 13 memorandums of understanding with Singapore to support the blockchain technology innovation project. In the same period, the relevant person in charge of Chongqing Yuzhong District said that it will vigorously develop blockchain-related industries and strive to cultivate and develop by 2022. There are 150 blockchain technology and application enterprises, achieving an output value of 10 billion yuan.

The support policy information of Shandong Province was proposed by Qingdao Municipality and Linyi Municipal Government, with emphasis on promoting the application and integration of blockchain technology. The Sichuan and Hebei provincial governments also have one blockchain support information this month. The main direction is to accelerate the application research and exploration of technologies such as blockchain.

Foreign blockchain policy: the United States, India, Australia and Australia supervise German, Portuguese and Malaysian support

According to the incomplete statistics of inter-chain pulse, in August, there were 29 relevant information on foreign blockchain regulatory policies, a slight increase from last month (25). Among them, the largest number is the United States, a total of five.

(Cartography: Mutual Chain Pulse Institute Data Source: Public Information)

This month, the focus of regulation in the United States is still cryptocurrency and cryptocurrency tax payments. On August 5th, Rhode Island will supervise cryptocurrency according to the currency circulation law. On the 13th, the US Treasury Department’s Foreign Investment Control Authority said that the regulation of the cryptocurrency industry will be its top priority; on the 15th, the Maryland Minister of Justice It announced that its securities department will crack down on counterfeit cryptocurrency transactions; on the 15th and 16th, the US Internal Revenue Service again issued a warning to cryptocurrency users to regulate cryptocurrency taxes.

Second only to the United States, India and Australia have three blockchain regulatory related information this month.

On August 19th, the government of the state of Maharashtra, India's second largest state, developed a plan to implement blockchain technology in agricultural marketing and supply chain. It is reported that the government has reserved 100 million rupees for 2019 to 2020, of which 40 million rupees have been approved for the use of blockchain technology. At the same time, India will also set up a regulatory sandbox that will be ready in the next five to six months.

Australian regulation also falls on cryptocurrencies. On the 16th, the Australian Taxation Office warned investors not to invest large amounts of retirement funds in cryptocurrency; on the 23rd, Australian lawmakers wanted to include cryptocurrency in the cash payment limit bill; on the 27th, the Australian Securities and Investments Commission and the FBI cooperated on cryptocurrency products. Public criminal investigation.

In addition to the above-mentioned countries, Thailand, Israel and Brazil also have two regulatory information announcements. Among them, Brazil is worthy of attention. On August 1st, the Brazilian Internal Revenue Service requested that all cryptocurrency transactions be reported from the same day. This new measure applies to individuals, companies and brokerage companies, including various encryption-related activities; August On the 26th, the Brazilian central bank classified the cryptocurrency according to the IMF's guidance, and the cryptocurrency of the transaction will be classified as a non-financial product.

(Cartography: Mutual Chain Pulse Institute Data Source: Public Information)

In terms of support, there were only 4 information on blockchain support policies in foreign countries in August, which were proposed by Germany, the United States, and Portugal.

On the 7th, Hamburg, Germany, said that it will strongly support blockchain technology and develop the blockchain as a key project. On the 9th, the New Jersey State of the United States will incorporate the blockchain task force plan into the law (the working group is entrusted to study the state and local one). Potential use cases for blockchain technology; on the 27th, the Portuguese tax authorities have made it clear that the country will not tax cryptocurrency transactions and encrypted payments; on the 29th, the Malaysian special envoy to China said that blockchain technology is rapidly promoting innovation The Malaysian government is committed to formulating relevant policies.

According to recent statistical information, the trend of the inter-chain pulse has observed that the trend of “domestic blockchain support policy information and foreign blockchain regulatory policy information” has become more and more obvious. And this may mean that after 9.4 years, China's blockchain sector is welcoming better development opportunities.

 

Interchain Pulse Statistics of Blockchain Policy for August 2019:

Text | Mutual Chain Pulse Research Institute

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