No more crypto events, says Beijing’s financial district

Venues Banned from Hosting Crypto Events in Beijing’s Finance District —Coindesk

What happened: Beijing’s Chaoyang District, the capital’s financial and commercial center, has banned commercial properties from hosting events relating to “cryptocurrency talks and promotion.” The ban follows a cryptocurrency content clean-up on China’s most popular social platform WeChat which sealed of some of the most popular blockchain-centered official accounts.

Why it’s important: Although ICO and cryptocurrency exchange has been banned since September 2018, frequent news on cryptocurrency betting rings and Ponzi schemes confirm that token trading has been going on uninterrupted. Events that gather cryptocurrency enthusiasts are another reminder for Chinese authorities that their struggle against crypto has had limited results.