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Market News

STEPN Suspends Services In China To Comply With Regulations

China’s new Personal Information Protection Law requires firms to share cross-border data with regulators.

Written By Rajpalsinh
Published May 27, 2022 1:19 PM·Updated 2 years ago
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STEPN Suspends Services In China To Comply With Regulations

The ‘move-to-earn’ crypto app, STEPN disclosed the suspension of services for users from China to comply with local regulations from mid-July.

1/ 關於清查中國大陸帳戶的公告

尊敬的STEPN用戶:
為積極主動響應相關監管政策,STEPN將對軟體用戶進行清查,若發現中國大陸地區用戶,則STEPN將依據使用條款對其賬戶於2022年7月15日(UTC+8)24:00 停止提供GPS及IP位置服務。

— STEPN GO (@Stepnofficial) May 26, 2022

STEPN cited a Chinese regulation to give up on its business to comply with terms that it had never engaged in any business on the mainland. As per the initial announcement, the app will stop GPS and IP services on mainland China.

In November, China introduced a new Personal Information Protection Law that requires any cross-border data transfer submission to cyber and data protection regulations. 

However, there is no clear evidence available on how STEPN services could be used after July 15 without the tracking of GPS and IP data. STEPN has access to the user’s GPS data.

Furthermore, one of STEPN’s founders, Jerry H, said that under 5% of users of STEPN are from China. 

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Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.

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