[2018-03-16] Crypto Escapes Scrutiny at Annual China Investor Event

[fat buddah]

Cryptocurrencies were not brought up for criticism at an annual Chinese consumer protection event, despite rumors to the effect.

Multiple sources had shared rumors with CoinDesk in early March that major policy changes would be announced on Mar. 15 night during a national TV program to curb cryptocurrency activities in China, such as trading and disguised initial coin offerings (ICOs).

The annual show is hosted by China Central Television, the country's official broadcast mouthpiece, in celebration of the World Consumer Rights Day, during which questionable company conducts are exposed for the sake of public safety.

It is further co-hosted by major Chinese government agencies including the Ministry of Industry and Information Technology, Ministry of Public Security, Supreme People's Court and Supreme People's Procuratorate.

The rumors had suggested that the program would expose initial coin offerings that still exist in China, some of which may operate so that certain people with access to ICOs would act as agents to invest on behalf of other Chinese investors.

"Every one was waiting to see what would happen during the night," one source commented.

Indeed, the rumors appeared to have sparked uncertainty within the cryptocurrency community in China, which had already started circulating a leaked rehearsal list of the program prior to the event, in bid to spread an assurance that no discussion of ICOs was on the list.

In the event, the absence of cryptocurrency or ICO related topics promptly killed the talk of further crypto scrutiny for now, yet it still remains to be seen whether China will move to enforce further regulatory measures on cryptocurrency activities, following its existing oversight efforts.

As reported before, while China's police force has been expanding its internet monitoring work to cover overseas cryptocurrency activities, regulators have also moved to reportedly block the domestic accounts of cryptocurrency exchanges on social media channels.

Source
https://www.coindesk.com/crypto-escapes-scrutiny-at-chinas-annual-consumer-protection-tv-show/

[Kemarit]

LOL I reckon that they intentionally skip anything related to crypto. That's how authoritarian this Chinese government are. I also believed that you can't even mentioned the word bitcoin or crypto in the said Investor Event. And it only makes sense to not even discuss anything about crypto, they have suddenly made a U-turn, so it means that crypto is not a good investment as per government. They have block everything, from social media sites related to bitcoin, to banning ICO and local exchanges. I wouldn't be surprise if bitcoin mining is the next target in line to complete the ban hammer.

[BitHodler]

I wouldn't be surprise if bitcoin mining is the next target in line to complete the ban hammer.

I think the mining aspect is too profitable for them to just blatantly ban, but we never know with China. Miners only consume resources, where as long as they just stick to mining, things shouldn't really be a problem.

Farms convert their earnings outside China to fiat, and then have it transferred back to China to pay bills and invest in expanding their operations, etc. Legally, miners just mining aren't doing anything wrong.

It's not an exchange, and not a money transmitter. I think as long as their core business remains mining, not much will form an obstacle for them, and for that reason will likely remain active there for many more years.