China: Government to Produce Monthly Blockchain Reports

The Chinese Ministry of Industry and Information Technologies unveiled at a seminar the initiative to establish a rating agency for blockchain projects. Named Global Public Chain Assessment Index , its mission will be to classify cryptocurrencies according to several fundamental criteria, such as the concept, the technical capacities , or even the use cases . However, the Department did not provide any specific guidance as to the methodology used for the classification.

Among the first 28 names to be listed in a first report, only Bitcoin , Ethereum , Ripple , Litecoin , Bitcoin Cash , Neo , Verge and Stratis were unveiled. As for the date of publication, the China Center for Information Industry Development did not give a specific date, but mentioned the forthcoming publication of the report on its website .

In fact, this initiative responds to the government's directive to set strict rules for Chinese companies that want to start a blockchain project . Indeed, even if China no longer allows its citizens to exchange cryptocurrency, it provides a real effort to develop the blockchain in the country. Chinese projects NEO or Tron are among the most important cryptos in terms of capitalization , ranking respectively 10th and 11th.

Capital flight, money laundering , corruption, fraud, these are the risks that China wants to avoid with these measures.