[2018-08-22] China Bans All Blockchain and Crypto Events in Chaoyang District

[Terraformer]

The Chinese government has banned all commercial crypto and blockchain-related events in the region, after encouraging local financial authorities to speed up the development of blockchain technology.

Red Li, the co-founder of 8BTC and Chinese cryptocurrency researcher, shared a document released by the Chaoyang District government in Beijing, which ordered local financial authorities and police to ban offices and hotels from hosting crypto-related events.

Continue reading >> https://www.newsbtc.com/2018/08/22/china-bans-all-crypto-events-after-spending-3-billion-to-fund-blockchain-startups/

[Theb]

This news article might be confusing to a lot of people as it contains yet again several other news reports combined into one article. The ban issued was only to the Chaoyang District, which is only one District of China. The ban therefore itself is only effective in that district. This news article is acting like the ban is in full effect in the whole country. Please do not confuse local government ordinances to laws as just like what this news article did where it concluded that the whole country of China has this memorandum in full effect. Also local news like this one really don't need to be spread internationally as it can give the wrong idea to a lot of people especially to the ones who really don't read and understand the news.

[Terraformer]

This news article might be confusing to a lot of people as it contains yet again several other news reports combined into one article. The ban issued was only to the Chaoyang District, which is only one District of China. The ban therefore itself is only effective in that district. This news article is acting like the ban is in full effect in the whole country. Please do not confuse local government ordinances to laws as just like what this news article did where it concluded that the whole country of China has this memorandum in full effect. Also local news like this one really don't need to be spread internationally as it can give the wrong idea to a lot of people especially to the ones who really don't read and understand the news.

You might have a point, but they have never imposed bans and restrictions in terms of blockchain events and meetings. I hope this will be limited to ChaoYang District only.

[Kemarit]

So what's up with Chaoyang District? Are they still living under the rock? Chinese government loves Blockchain Technology so its completely nonsense that a certain district would ban crypto conferences. I'm not aware how big Chaoyang is, or if they are somewhat part of the whole financial district in Beijing, but it doesn't make sense for them to just ban crypto events while its neighboring districts allows it. The article didn't mentioned why Chaoyang did ban events to be held in their district perhaps they are late because China allows Blockchain Technology to flourish and expand.

[gentlemand]

So what's up with Chaoyang District? Are they still living under the rock?

That particular district is where most of the foreign embassies are and also it's where their central business district is as well as quite a few government departments.

Because of that prestige I presume it's to keep it unsullied by crypto filth.

[Slow death]

The ban issued was only to the Chaoyang District, which is only one District of China.

But if it is a question of the Chinese government that is somber for several years, it will be a matter of time to prohibit in every country, the Chinese government has very dark politics, so one should not expect a good opening in relation to cryptos and especially in relation to a bitcoin that is a decentralized currency. Imagine a decentralized currency in a country with shady policies like China? This would not work even if it were 10 years from now.


There are many other places in the world to organize these events.

[stompix]

The ban issued was only to the Chaoyang District, which is only one District of China.

But if it is a question of the Chinese government that is somber for several years, it will be a matter of time to prohibit in every country, the Chinese government has very dark politics, so one should not expect a good opening in relation to cryptos and especially in relation to a bitcoin that is a decentralized currency. Imagine a decentralized currency in a country with shady policies like China? This would not work even if it were 10 years from now.

You know this thing is kind of ironic...
We talk about how a decentralized thing be it crypto or whatever won't work in China and at the same time this whole "ban" is showing us that decentralization works

They've actually managed to restrict something in a district in Beijing, not the whole region, not the whole town, it's just a decision made for a single part of the city.....
But what's the purpose of it and why would it have any effect whatsoever, only God knows!

[magneto]

China has pretty much never been anything close to pro-bitcoin.

This is just another policy introduced to try to stop the spread of decentralised cryptocurrencies as an idea, all the while trying to promote centralised, local developed blockchain projects. The trajectory that they are going in at the moment has been the case for many years now, and this is just a stepping stone in the overall direction that they are going in.

Even though this is localised right now, and only limited in Chaoyang, this may well expand in the future into other provinces. There are some merits to it though. Most projects who host these events are usually shady in one way or another, whether pyramid schemes or shady projects with no legitimate backing or even viable long term product to offer. Obviously, there will be a major impact on the mainstream crypto economy in this district, but these events can still be hosted privately, outside of public hotels and all that.