New framework unveiled in China for Bitcoin, blockchain technology .

The framework is purely advisory, however, since the six associations don't have legislative powers.Guiyang Blockchain ICO Consensus, suggesting ways blockchain technology companies should behave to reduce investor and stability risks around such token sales in China.The process of anchoring data through the network will require payment in the TNT tokens (though these costs are being deferred for the time being

That fintech is a component of mainstream financial systems, and should be regulated in a way that allows it to augment financial servicesChina currently has no ICO-specific rules, but the People's Bank of China has begun looking at how to regulate fintech as a whole, including by opening a digital currency center and conducting cryptocurrency exchange inspections. This is the first ever letter of credit system in the banking industry built with Blockchain technology.