Global Fintech & Blockchain China Summit Halted by Police

The first part of the event was interrupted by the police, and all visitors and organizers were asked to leave the premises
12 April 2018   941

The blockchain conference in Shanghai was interrupted by a police visit. This is reported by CoinDesk.

A one-day event called Global Fintech & Blockchain China Summit 2018 was organized by PTP International and was due on April 12th.

About noon local time, the first part of the event was interrupted by the police, and all visitors and organizers were asked to leave the premises. The second part of the conference was canceled also.

According to the information on the conference website, several program speeches were to be delivered, panel discussions and presentations of financial structures, government and crypto-currency projects were held.

Although the official reasons for the breakdown of the event are not called, there are rumors that investors who lost large sums on the ICO, representatives of which also attended it, complained to the police.

We are still investigating the reasons of the halt. And so far the explanation offered by the police is due to security risk. We are working on a solution regarding how to make up for event attendees. The conference is in compliance with the regulation in China and does not feature any ICO roadshow.
 

PTP International, Organizers

The organizer claims that this information is not true, and the conference was conducted in compliance with all Chinese laws.

Brazilian Central Bank to Issue Stablecoin

According to participants of the project, the issue of the BNDES coin will help restore public confidence in Brazilian state banks
17 December 2018   68

The state-owned Brazilian National Social Development Bank intends to issue a cryptocurrency token tied to the Brazilian real. It is reported by CoinDesk.

The pilot project for the production of a token BNDES based on Ethereum will start in January next year. At first, the coin will be used to finance cultural institutions. In particular, the bank will allocate a certain number of new tokens to the local cinema agency.

As the newspaper notes, the bank conducted experiments with steyblecoin throughout 2018. The consultant of the project for the release of a new “stable coin” will be the well-known Ethereum start-up ConsenSys.

According to representatives of the bank, the issue of the BNDES coin will help restore public confidence in Brazilian state banks, which are often criticized due to corruption scandals.

Also, the bank is confident that in the future, stablecoin can be used to finance organizations and projects from various fields.

Note that recently in Brazil there has been a trend towards liberalization of the regulation of cryptoindustry. For example, in October, the Brazilian Securities Commission allowed local investment companies to invest in a cryptocurrency ecosystem through the acquisition of derivatives and shares in foreign funds. It is noteworthy that at the beginning of the year the same financial regulator announced the prohibition of both direct investment in cryptocurrency and indirect investment through intermediaries in the person of foreign companies.