In today’s Bitcoin in Brief we’re covering disappointing news for the crypto community: the World Satoshi Summit in Delhi has been canceled because of “regulatory issues” according to its organizers. Also, an alleged crypto pump and dump scheme has been exposed. There is more than one opinion on the case, as you’ll see below.
Also read: Bitcoin in Brief Thursday: Big Money Wears Big Horns, Claws Are In the Closet
World Satoshi Summit Canceled
A major crypto conference, scheduled to be held in Delhi in May, has been canceled. “Due to certain regulatory issues in India, World Satoshi Summit currently stands cancelled,” reads a message on the event’s website. All refunds will be processed over the next few weeks, the organizers promise. They encourage participants to reach out on
“I feel very sad to inform you that due to certain regulatory issues in India like crypto ban, our most anticipated event, World Satoshi Summit, stands postponed/cancelled. I deeply regret that we have to make such a harsh decision at the eleventh hour, when we were all set for the conference,” Sanjay Goswami, head of marketing for the summit told the Indian outlet Crypto News.
Indian crypto media have asked the organizers to provide more details and clarity on the reasons for the cancelation. In recent months, the cryptocurrency and blockchain community in the country has been targeted by both regulators and banks. While authorities are working on a new bill to regulate the crypto sector, the Reserve Bank of India has prohibited commercial banks from servicing businesses dealing in cryptocurrencies. Bitcoin trade on local exchanges has dropped as much as 90% in a couple of months.
