China has agreed to delay plans to implement some of its new bank technology rules. Hardware and software suppliers to the Chinese financial services industry would have to submit to source code reviews and share encryption keys with authorities. China’s new banking regulations state that 75 percent of all software and hardware products used by the Chinese banking sector will have to be “secure and controllable” by 2019. A draft Chinese cybersecurity bill would require any encryption keys used in any products sold in China – in any sector – to be shared with authorities.”]
Source: https://www.inforisktoday.com/china-delays-tough-bank-tech-rules-a-8059