Chinese crypto conference stopped by police

Global Fintech & Blockchain China Summit 2018 has been stopped by the police raid. This has been reported in the social media likely originating from the members of the conference. The press outlets on cryptocurrency are also sharing this information.

The main fanbase hypothesis on why the police did not find the summit compliant with the law is that investors who lost money on one of the ICOs present on the event have reported this to the police. Strangely enough, the law enforcers did not apprehend the alleged fraudsters and simply cancelled the whole meeting.

Note that this is only a theoretical assumption and the actual reason might be different. This question is also hard to answer because the authorities of China are currently reluctant to explain the incident to the press. Meanwhile, the organizer of the event, PTP International, states that the police explained this all by unspecified security risks. The same company announced further information to be disclosed tomorrow (Friday, 13 April 2018).

At the press time, the authorities of China are viewing cryptocurrency and related business as negative and undesirable phenomena.

Image courtesy of Reuters / Damir Sagolj