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Key Takeaways
- Shanghai police halted the 2018 blockchain summit mid-session and canceled the remaining program.
- Organizers said police cited security risks but gave no detailed reason for the shutdown.
- PTP International denied ICO-related rumors and said the event complied with Chinese rules.
A blockchain conference in Shanghai was cut short on April 12, 2018, after local police halted the event and asked attendees and organizers to leave the venue.
The Global Fintech and Blockchain China Summit 2018 had already started its morning session when the shutdown took place, and the afternoon program was later canceled.
Police Cited Security Risks as Conference Ended Early
The one-day conference was organized by PTP International and focused on blockchain technology and financial technology. It was scheduled to continue throughout the day, but the event did not resume after police intervened during the morning session.
A notice attributed to the organizers said they were still investigating the reason for the suspension. The notice said police had only cited “security risks” when stopping the meeting.
Organizers Denied Any Legal Problems With the Speeches
PTP International told attendees that the conference had been formally organized and that none of the speeches raised legal concerns. In the notice, the company said there were
“[…] no legal issues related to the speeches.”
The organizers also asked guests not to rely on unconfirmed reports or rumors circulating after the shutdown. The notice said the company would discuss whether to reschedule the conference or take another step after the disruption.
Organizers Denied ICO Activity After Rumors Spread
Speculation about the police action spread quickly after the event was halted. One rumor suggested that investors had reported an initial coin offering (ICO) linked to the event to local police after allegedly losing funds.
PTP International rejected that interpretation. The company said the conference complied with Chinese regulation and did not include any ICO roadshow.
Shutdown Came After China Tightened Crypto Oversight
The incident came during a period of tighter cryptocurrency oversight in China. Authorities had already moved against ICO activity and domestic crypto exchanges, making any alleged token-sale activity a sensitive issue for event organizers and attendees. No official explanation beyond the reported security-risk reference was included in the available organizer notice.
