Solana’s Shanghai event halted over unauthorized promotion: Report
Solana’s promotional campaigns through domestic entities allegedly violated China’s crypto-related restrictions, an unidentified PBOC official told China’s Financial News.
Chinese authorities suspended Solana's Shanghai event, Solana Accelerate, due to alleged unauthorized promotional activities by domestic entities, a PBOC official disclosed to China's Financial News. The unidentified official stated that Solana had advertised its brand through local entities, including by placing ads on a building in Shanghai's Lujiazui financial district.
Additionally, the official claimed that Solana provides technical services for the issuance and trading of cryptocurrencies, which are considered illegal financial activities under Chinese regulations. This incident marks the second disruption of a Solana event in mainland China within the past two years, illustrating the extent of the country's restrictions that go beyond digital asset trading.
An October 2025 Solana event in Shenzhen was also abruptly ended over venue capacity and public safety concerns, according to an X announcement by Solana's Chinese-speaking community. In a post on October 16, Solana Foundation President Lily Liu announced that the Shanghai event was postponed to "comply with local requirements" after the event registration unexpectedly quadrupled, surpassing the pre-registered event cap with local authorities.
In a February notice, the PBOC, along with several other agencies, intensified crypto-related regulations, including a ban on the unauthorized issuance of yuan-pegged stablecoins.
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