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limek
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April 12, 2018, 01:09:59 PM
 #1

China: Blockchain Conference Shut Down By Police, Organizers Claim ‘No Legal Issues’

Organizers of a Chinese Blockchain conference that police suddenly shut down have denied rumors they invited a suspected fraudulent Initial Coin Offering (ICO) to the event, local news outlet YMTMT.com reported Thursday, April 12.

Local media reports cite PTP International, the organizers behind the Global Fintech & Blockchain China Summit 2018 (GFBCS) in Shanghai, as saying the only reason given by police for the raid was “security risks”.

“We are investigating the reasons for the suspension of the event,” YMTMT.com quotes PTP as telling participants.

Read more: https://cointelegraph.com/news/china-blockchain-conference-shut-down-by-police-organizers-claim-no-legal-issues
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April 12, 2018, 06:50:24 PM
 #2

China: Blockchain Conference Shut Down By Police, Organizers Claim ‘No Legal Issues’

Organizers of a Chinese Blockchain conference that police suddenly shut down have denied rumors they invited a suspected fraudulent Initial Coin Offering (ICO) to the event, local news outlet YMTMT.com reported Thursday, April 12.

China, as usual, shuts down and bans everything, there are only gov projects left that focused on blockade and new technologies. That's very good that all prohibitions have occurred slowly and haven't exerted strong pressure on the market. If there were a dramatic ban at the time when 90% of all cryptocurrency trades were passing through China, the price would probably fall to $500.


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April 12, 2018, 07:03:31 PM
 #3

China, as usual, shuts down and bans everything, there are only gov projects left that focused on blockade and new technologies. That's very good that all prohibitions have occurred slowly and haven't exerted strong pressure on the market. If there were a dramatic ban at the time when 90% of all cryptocurrency trades were passing through China, the price would probably fall to $500.

I'd wait for more information before jumping to that conclusion. Police don't swoop down if there isn't a public report lodged. With all due respect to these conferences, I'd say that organisers have a bad reputation for managing participants. It's all fee-based anyway, so there's no incentive to screen participants. I mean, how many ponzis masked as cryptos have already made big stage appearances? Remember OneCoin and their Forbes cover?

News says suspicion of fraudulent ICO in the midst. Won't be surprised if these wolves are prowling these conferences for networking opportunities. There's already a pattern of corporate scams ala Madoff in Southeast Asia now.

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April 12, 2018, 08:18:28 PM
 #4

Well China does ban quite a few things and some of them are quite silly, but I wouldn't automatically think they are being overzealous by shutting down a blockchain conference. There are a lot of slimy ICOs out there. But, it's true that the government does have projects it favors for whatever (possibly corrupt) reason.

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April 12, 2018, 08:33:27 PM
 #5

China, as usual, shuts down and bans everything, there are only gov projects left that focused on blockade and new technologies. That's very good that all prohibitions have occurred slowly and haven't exerted strong pressure on the market. If there were a dramatic ban at the time when 90% of all cryptocurrency trades were passing through China, the price would probably fall to $500.

I'd wait for more information before jumping to that conclusion. Police don't swoop down if there isn't a public report lodged. With all due respect to these conferences, I'd say that organisers have a bad reputation for managing participants. It's all fee-based anyway, so there's no incentive to screen participants. I mean, how many ponzis masked as cryptos have already made big stage appearances? Remember OneCoin and their Forbes cover?

News says suspicion of fraudulent ICO in the midst. Won't be surprised if these wolves are prowling these conferences for networking opportunities. There's already a pattern of corporate scams ala Madoff in Southeast Asia now.
Agreed, to keep the conversation healthy and sensible why would they even allow the organizers to form the event in the first place if they will cancel it in the end? By doing so they just have wasted both their time, as well as the venue and the money of the attendees. "Security Risk" is the police's reason why they have cancelled the event which is a valid reason and I think the public's safety is more important than continuing the event. I know this event is some sort of a step forward for them but I won't risk anyone's life for it to push through.

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