Chinese Blockchain Event to be Called for Boycott

Bo'Ao Blockchain Forum for Asia is called for boycott due to Mao Zedung image usage
28 May 2018   834

Chinese crypto-currency companies have called for a boycott of the blockchain conference that is taking place these days, after its organizers decided to use the image of Mao Zedong to promote their event, CoinDesk reports.

The two-day event Bo'Ao Blockchain Forum for Asia, held by the Chinese cryptocurrency media company BiKuai, was launched in Hainan this Monday according to the schedule.

A few hours after the beginning of the conference, a video was distributed in Chinese social networks Weibo and WeChat, where the actor hired by the organizers portrayed the most popular leader of the country, Mao Zedong.

In the name of Mao Zedong, I'd like to say thank you to all the attendees today ... And I wish the event will be tremendously successful.
 

Xu Guoxiang

Actor

The video quickly spread across social networks, although numerous publications and reposts have already been blocked by the authorities.

Several Chinese blockchain media companies, including BTC123 and Jinse Finance, who attended the conference this morning, immediately raised the issue of the legality of such actions by the organizers. They also called for boycotting the coverage of the event, so as not to incur the wrath of the authorities because of the use of the image of Mao.

In 2007, the Chinese Ministry of Commerce issued a decree prohibiting the use of associations with top-level leaders in business. Criticized, the organizer of the event BiKuai published a statement in which he suggested that the problem was caused by a lack of communication with the actor before the performance.

Binance Singapore Unit to Apply For License

Under the new law, aimed at regulating crypto paymetns and trading, firms must register with the Monetary Authority to receive a license
17 February 2020   51

Binance, a Singapore-based cryptocurrency exchange unit, has applied for a license under the new Payment Services Act, which entered into force on January 28.

We have already applied. We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.

 

Changpeng Zhao

Founder and CEO, Binance

Under the new law, crypto companies in Singapore must register with the Monetary Authority and receive one of three licenses: an exchange of money, a standard or large payment institution. The measure is aimed at regulating payments and crypto trading using requirements for participants in the traditional finance industry. Zhao did not specify which of the licenses Binance Singapore chose.

Binance has been offering crypto-fiat trading services in Singapore since April 2019 and works with eight coins, including Bitcoin, Ethereum and XRP. The trading platform is supported by Vertex Venture Holdings, a venture division of Singapore's Temasek Holdings.