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Another ICO Conference Cancels in Wake of China Ban

A second conference on blockchain-based fundraising has been cancelled following news that regulators in China have formally outlawed the use case.

Sep 11, 2017 at 2:00 p.m. UTC
Updated Sep 13, 2021 at 6:55 a.m. UTC

A conference expected to focus on token sales has been cancelled following news that regulators in China have formally outlawed the use case.

Organizers of the forthcoming Token Economy Summit, to be held in Shanghai later this week, confirmed to CoinDesk they will no longer be hosting the event. The summit, scheduled as a one-day session on September 17, was being organized by local cryptocurrency hedge fund and trading group Fintech Blockchain Group.

In statements, a representative for the conference cited the change in policy as reason for the cancellation, calling the event "too risky" in the current climate.

The news follows a September 2 report that the 2017 DACA International Blockchain Summit, organized by local interest group Decentralized Autonomous Coalition Asia, had been cancelled for similar concerns.

Styled after the New York-based Token Summit event, held this May, Token Economy Summit was said to be expecting more than 1,000 international and local guests for panels and workshops on initial coin offerings.

Flight cancellation image via Shutterstock

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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