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On 19 October 2021, the draft Law on Anti-Telecom and Internet Fraud was introduced to the Chinese Standing Committee. The law stipulates standards for the telecom, internet, and financial sector to limit online frauds. According to the law, internet service providers and telecom service providers may offer the following services only to customers whose real identity has been verified: proxy network services, domain name registration, and distribution of certain software types (e.g., online messaging, payment, advertising and gaming services). Moreover, telecommunications business operators shall request the real identity of customers with fraudulent behaviour and adopt restrictive measures. Similarly, internet service providers shall monitor internet accounts connected with telephone cards involved in fraud and restrict the accounts' functionalities. Finally, banking, financial and payment institutions shall monitor abnormal or suspicious behaviours related to online frauds and take restrictive measures directed to the concerned accounts.
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