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Bitcoin Conference Moved From Beijing To Hong Kong – All You Need To Know

Bitcoin Conference Moved From Beijing To Hong Kong – All You Need To Know

The Blockchain Global Summit, a key bitcoin conference for the digital world, took place a few days ago having been moved from Beijing to a city outside mainland China.

Originally scheduled for September 10th in Beijing, it was later re-arranged for September 20th in Hong Kong.

This comes as little surprise to bitcoin users – the Chinese government has started adopting several measures to reduce the use of cryptocurrency. The Chinese company hosting the bitcoin conference, BitKan, provides users with a platform to trade bitcoins and other related services. BitKan posted the announcement only a few days before the conference.

BitKan released a statement, saying:

“As the summit host, the event team in BitKan carefully balanced the pros and cons of the risks of Beijing’s city security updates and the ICO supervision from the central bank. Though we have reported to the local enforcement and there will be no ICO related contents on the summit, we decided to change the time and location of the summit to lower the risks of being cancelled.”

The emphasis on Initial Coin Offerings (ICO) stems from the fact that major authoritative figures as well as the central bank in China decided to ban fund raising via ICO. Fundraising using decentralized digital money has become popular as it aids businesses and startups. China is eliminating the platforms for cryptocurrencies but, due to lesser restrictions in Hong Kong, BitKan chose it as the easy alternative.

Most of the speakers expected in the original conference, including Bitmain’s CEO Jihan Wu, bitcoin.com’s CEO Roger Ver, and famous computer programmer John McAfee, are set to make an appearance on September 20th as well.

BitKan previously discontinued a few trading services for bitcoin which resulted in a decrease in bitcoin prices. Blame was thrown directly at the company, still, other bitcoin businesses in China have also opted to do the same. Yicai Global and BTC China, famous financial media and exchange outlets, have reported that all of bitcoin exchanges and tradings will be halted before the end of September.

Where many countries are trying to find ways to incorporate cryptocurrencies, China is one of the few that has decided to stand firmly against it.