Chinese Traders Will be Blocked From Foreign Exchanges

New actions of Chinese financial watchdog may have big influence on the local market
05 February 2018   279

The Chinese authorities intend to close access to all websites related to crypto trading and ICO, including foreign sites. This is reported by South China Morning Post with refenace to Financial News, a publication affiliated to the People’s Bank of China.

In its article Financial News recognizes that the recent attempt to limit the cryptocurrency trading has not been successful.

ICOs and virtual currency trading did not completely withdraw from China following the official ban ... after the closure of the domestic virtual currency exchanges, many people turned to overseas platforms to continue participating in virtual currency transactions. Overseas transactions and regulatory evasion have resumed ... risks are still there, fuelled by illegal issuance, and even fraud and pyramid selling.

Financial News

Local trader has its own opinion.

It is common for people to use VPNs [virtual private networks] to trade cryptocurrencies, as many exchange platforms relocated to Japan or Singapore.I think the new move literally means it would be even harder to circumvent the ban in China...people promoting related business programmes may be arrested.

Donald Zhao
Individual bitcoin trader who relocated to Tokyo from Beijing late last year, following the ban

Chinese ICO market may also go down, ICO organizer believes.

[The tighter regulation from the PBOC will] definitely weigh on the cryptocurrency universe.
Most of the Chinese ICO projects are invested in by Chinese investors. So if they are blocked, the whole cryptocurrency market will be dragged down.

Wayne Cao
ICO organizer

ICO and cryptocurrency trading were banned in China last fall, but Bobby Lee, CEO of BTCC, said that this activity just went underground. In addition, many exchanges have been converted into peer-to-peer trading, helping buyers and sellers find each other.

Consensus 2018 summit to be held in New York City

4th annual blockchain technology summit - Consensus 2018, will take place in New York City on May 14-16
22 April 2018   41

CoinDesk has announced its 4th annual blockchain technology summit Consensus 2018 on May 14-16 at the New York Hilton Midtown. Along with the discussions on the blockchain technology, the event is going to feature a hackathon, PoW pitch competition and a scholarship award in a partnership with Zcash. Title sponsors of the event include bloq, Deloitte, Ledger, Octagon Strategy and SONM.

Consensus 2018 will feature 250+ speakers and 4,000+ attendees from the leading industry startups, investors, financial institutions, enterprise tech leaders, and academic and policy groups who are building the foundations of the blockchain and digital currency economy. Among the notable speakers there will be Blockstack co-founder Dr. Muneeb Ali, J.P.Morgan blockchain program lead Amber Baldet, eToro CEO and founder Yoni Assia, Hyperledger executive director Brian Behlendorf, ConsenSys founder Steve Cerveny, Athena Capital founder Meltem Demirors and many others.

The full 3-day agenda of the event can be found here.