On last November 8 and 9, almost 4,000 people attended the World Blockchain Conference in Wuzhen, China, As per event organizer (8btc).

Most of them are big companies in Tech firms such as Baidu, Alibaba and Tencent, with some crypto exchanges, funds, crypto projects and mining businesses. One of their plans is eliminating crypto mining in China.

Based on the report last Nov. 14, The People's Bank of China's (PBoC) Shanghai Bureau issued a notice to all local government agencies private or public on each district in the city to check and clear out businesses that offer crypto trading, promotion, brokerage services and fundraising. 

This would be a nationwide effort. On Thursday, the Shenzhen Municipal Financial Regulatory Bureau issued the same notice, want to check and removed those initial coin offerings or ICO and Crypto Ponzi schemes Project in China that's their main goal or primarily targeted so far some state media called this as "air coins," referring to those that are issued without air, real team, or development.. Those projects that are using blockchain name to market without any technological use cases will be removed and some smaller exchanges that turn into exit scam or pump and dump coins prices.

Based on the report last week, The Chinese government back claimed that almost 25,000 out of 28,000 blockchain firms based in the country. found out that they're doing some illegal fundraising channels.

Due to massive reports like this, Lots of Chinese state-owned media gathered including Security Times, CCTV, Economic Information Daily, and Xinhua companies published news coverage over the past few weeks to their nationwide audience, Doing some announcements about the return of "air coins". Chinese gov. must do massive actions of removing these kinds of projects.