{"source_url": "https://cointelegraph.com", "url": "https://cointelegraph.com/news/china-enacts-crypto-law-in-run-up-to-state-digital-currency-debut", "title": "China Enacts Crypto Law in Run-Up to State Digital Currency Debut", "top_image": "https://images.cointelegraph.com/images/740_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy81OTc1YWYzY2U2ODA3N2NiOWU2OWJlYTViY2UxZWM0NC5qcGc=.jpg", "meta_img": "https://images.cointelegraph.com/images/740_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy81OTc1YWYzY2U2ODA3N2NiOWU2OWJlYTViY2UxZWM0NC5qcGc=.jpg", "images": ["https://s3.cointelegraph.com/storage/uploads/view/77a5aa8f30ff80d6261301ee8029e3a4.svg", "https://www.facebook.com/tr?id=1922752334671725&ev=PageView&noscript=1", "https://images.cointelegraph.com/images/740_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy81OTc1YWYzY2U2ODA3N2NiOWU2OWJlYTViY2UxZWM0NC5qcGc=.jpg", "https://s3.cointelegraph.com/storage/uploads/view/1c7ae1f853c63dd60341d96f793c62cf.svg"], "movies": [], "text": "China has formally implemented a law governing cryptographic password management as part of its pre-release plans for its central bank digital currency (CBDC).\n\nAs English-language news media outlet China Money Network reported on Jan. 1, the latest regulations have become legally binding following their unveiling in October last year.\n\nCrypto security paves way for CBDC\n\nAs Cointelegraph reported, the Standing Committee of the 13th National People's Congress in China passed the crypto law on Oct. 26. It divides passwords at large into three distinct categories \u2014 passwords, common passwords, and commercial passwords \u2014 and aims to facilitate China\u2019s transition to blockchain technology:\n\n\u201cIn order to prevent data from being tampered with, it is necessary to protect each data with a password. The development of blockchain technology can not be separated from the progress of cryptography technology,\u201d China Money Network wrote referencing a report from Japanese media outlet Japan Economic News.\n\nThe central bank\u2019s tests are ongoing\n\nChina has not yet set a formal release date for its CBDC, which will be the first state-backed cryptocurrency on the world stage.\n\nLate last year, the People\u2019s Bank of China (PBoC) confirmed it would start live testing of the currency with select banks before 2020 began.\n\nBeijing\u2019s sudden public praise of blockchain more broadly sparked a wave of enthusiasm that ricocheted across cryptocurrency markets. Bitcoin (BTC) rose, while China-based altcoins delivered considerable growth over a short period.\n\nAt the same time, state-controlled media stressed that the endorsement was not tantamount to authorities slackening the strict ban on cryptocurrency trading in place since September 2017.\n\nCointelegraph published a retrospective on China\u2019s cryptocurrency policy this weekend.", "keywords": [], "meta_keywords": [""], "tags": ["#Blockchain News", "Monero News", "Regulation News", "Blockchain News", "#Digital Currency", "Scam News", "Altcoin News", "Ethereum News", "#China", "#Central Bank", "Litecoin News", "blockchain", "PBoC", "Bitcoin News", "China", "Ripple News"], "authors": ["William Suberg"], "publish_date": "Wed Jan  1 15:30:00 2020", "summary": "", "article_html": "", "meta_description": "Rules governing crypto password storage aim to prepare the economy for the arrival of the world\u2019s first central bank digital currency, currently in testing", "meta_lang": "en", "meta_favicon": "/apple-icon-57x57.png?v4", "meta_data": {"msapplication-TileImage": "/ms-icon-144x144.png?v4", "msapplication-TileColor": "#da532c", "theme-color": "#ffffff", "viewport": "width=device-width, initial-scale=1.0", "msvalidate.01": "F491556A1087603AA81E7B7D8E719BBA", "csrf-token": "a3KH7hGI5uNeWGSItVlXbIxSDmML3eoPugGOcfUs", "telegram": {"channel": "@cointelegraph"}, "instant-view": {"news_page": 37440}, "description": "Rules governing crypto password storage aim to prepare the economy for the arrival of the world\u2019s first central bank digital currency, currently in testing", "news_keywords": "Blockchain,China,Digital Currency,Central Bank", "fb": {"app_id": 1922752334671725}, "og": {"url": "https://cointelegraph.com/news/china-enacts-crypto-law-in-run-up-to-state-digital-currency-debut", "image": {"identifier": "https://images.cointelegraph.com/images/740_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy81OTc1YWYzY2U2ODA3N2NiOWU2OWJlYTViY2UxZWM0NC5qcGc=.jpg", "secure_url": "https://images.cointelegraph.com/images/740_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy81OTc1YWYzY2U2ODA3N2NiOWU2OWJlYTViY2UxZWM0NC5qcGc=.jpg"}, "title": "China Enacts Crypto Law in Run-Up to State Digital Currency Debut", "description": "Rules governing crypto password storage aim to prepare the economy for the arrival of the world\u2019s first central bank digital currency, currently in testing.", "type": "article", "site_name": "Cointelegraph", "updated_time": "2020-01-02T03:25:43+00:00"}, "twitter": {"card": "summary_large_image", "site": "@cointelegraph", "creator": "@cointelegraph", "title": "China Enacts Crypto Law in Run-Up to State Digital Currency Debut", "description": "Rules governing crypto password storage aim to prepare the economy for the arrival of the world\u2019s first central bank digital currency, currently in testing.", "image": "https://images.cointelegraph.com/images/1480_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy81OTc1YWYzY2U2ODA3N2NiOWU2OWJlYTViY2UxZWM0NC5qcGc=.jpg"}, "original-source": "https://cointelegraph.com/news/china-enacts-crypto-law-in-run-up-to-state-digital-currency-debut", "author": "William Suberg", "article": {"tag": "Digital Currency", "section": "Blockchain News", "published_time": "2020-01-01T15:30:00+00:00", "modified_time": "2020-01-02T03:25:43+00:00"}}, "canonical_link": "https://cointelegraph.com/news/china-enacts-crypto-law-in-run-up-to-state-digital-currency-debut"}