Venture capitalist Li Xiaolai, who organised the conference, dismissed the suggestion that Beijing would ultimately outlaw the use of digital currencies in the mainland.
"Thailand has already banned bitcoin, so has Russia. But who cares if China bans it as long as everyone knows the whole world can't ban it," Li said. He denied that bitcoin users felt threatened by the central government, and said bitcoin posed no threat to Beijing.
However, the chance of the government implementing further measures aimed at disrupting the growth of bitcoin on the mainland forced the heads of the five largest bitcoin businesses in China to skip the event. The prominent figures within the bitcoin world wanted to reduce the summit's profile.
Since December, the People's Bank of China has launched a series of crackdowns against the digital currency, discouraging banks and payment companies from dealing with money involved in bitcoin trading.
Global Bitcoin Summit 2014:Produced by bitfund.pe and UBM China, the FIRST global bitcoin conference in China——Global Bitcoin Summit 2014 (GBS) will be held in Beijing from May 10th to11th. During the event,outstanding and knowledgeable experts in the Bitcoin world will bring the latest information in the industry. They will also shed light on Bitcoin future trends in China and abroad, explore how to consolidate or expand existing business, and discuss how to initiate new Bitcoin business.
GBS focuses on eight tracks: Trading Platform, Safety System, DAC, Laws & Regulations, Development Trend, Bitcoin Payments, Related Applications, and Innovative Crypto-Currency. The event aims to provide an ideal platform for Bitcoin enthusiasts to communication with each other and get insight into Bitcoin especially to provide information on the current development of the China market. Based on a win-win cooperation, GBS provides an excellent opportunity to help attendees to find suitable platforms, build a bridge for better communications, and promote the development of industries and the growth of individual business.
