Solana's Offline Event in Shanghai Halted, Central Bank to Investigate Relevant Units and Individuals

The People's Bank of China stated that Solana had placed advertisements on the exterior wall of the Citigroup building in Lujiazui, Shanghai, through domestic entities for virtual currency marketing. The central bank, in conjunction with local financial management, public security, market supervision, and other departments, has halted the offline event "Solana Accelerate China 2026" before its commencement and will investigate the involved units and individuals. The official noted that SOL is essentially a virtual currency, and Solana also provides technical services for the issuance and trading of USDT and others. According to the "Notice" issued by eight departments in February this year, promoting Solana is considered a violation. The next step will focus on cracking down on domestic traders and the domestic affiliates of overseas platforms.

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