China halts Solana offline events and advertising, opens investigation into promoters
Chinese authorities have shut down planned Solana events and promotional campaigns in Shanghai and other cities, with the People's Bank of China opening an investigation into the entities and individuals involved.
The People's Bank of China, operating alongside local financial regulators, police, and market supervision authorities, has halted Solana offline activities and advertising campaigns, according to reports citing central bank officials. The regulatory intervention targeted the planned Solana Accelerate China 2026 events across Shanghai and other cities.[2][3][4]
Authorities intervened after discovering that Solana placed advertisements in Shanghai's Lujiazui financial district through domestic entities, including an October 14 light display on Citigroup Tower that featured Solana's logo. Regulators stated that Solana used brand promotion to market virtual currencies, which is treated as illegal financial activity.[2][4]
A central bank official stated that the promotional efforts breached a February 2026 notice issued by eight Chinese government authorities regarding cryptocurrency risk prevention. The central bank confirmed it is investigating the individuals and entities involved, adding that it will continue cracking down on domestic crypto trading operations and China-based affiliates of overseas token issuance platforms.[1][2][4]
Key facts
- The People's Bank of China coordinated with local financial regulators, police, and market supervision authorities to stop Solana's offline activities and advertising.
- Authorities halted the planned Solana Accelerate China 2026 events scheduled for Shanghai and other cities.
- Solana placed advertisements in Shanghai's Lujiazui financial district via domestic entities, including an October 14 ad on Citigroup Tower.
- A PBOC official stated that promoting Solana and related virtual currency services constitutes illegal financial activity in violation of a February 2026 notice issued by eight Chinese authorities.
- Chinese authorities launched an investigation into the entities and individuals involved in the promotional campaign.
- The PBOC affirmed it will continue enforcement actions against domestic cryptocurrency trading businesses and domestic affiliates of foreign crypto platforms.
Sources 路 4 sources
- WG
Watcher.Guru@WatcherGuruPost on X 路
JUST IN: 馃嚚馃嚦 China's Central Bank launches investigation into Solana $SOL over cryptocurrency advertising in Shanghai.
Open source - CB
Crypto Banter@crypto_banterPost on X 路
馃毃CHINA鈥橲 CENTRAL BANK CONFIRMS IT STOPPED SOLANA鈥橲 SHANGHAI EVENT AND WILL INVESTIGATE! The People鈥檚 Bank of China has confirmed it jointly halted Solana鈥檚 Shanghai offline activities and advertising with local financial, police, and market regulators, and will investigate the parties involved, per the Financial Times. A PBOC official said the October 14 Citigroup Tower ad and the Accelerate China event promoted virtual currency, which violates China鈥檚 ban. Promoting solana:So11111111111111111111111111111111111111112 and related services is treated as illegal financial activity.
Open source - SI
Solid Intel 馃摗@solidintel_xPost on X 路
INTEL: China's central bank stops Solana's Shanghai event before it starts
Open source - WB
Wu Blockchain@WuBlockchainPost on X 路
China's Central Bank to Investigate Solana's Advertising Campaign in Shanghai's Lujiazui District An official from the People's Bank of China (PBOC) said authorities recently discovered that Solana had placed advertisements in Shanghai's Lujiazui financial district through domestic entities, using brand promotion to market cryptocurrencies. The PBOC, together with local financial regulators, police, and market supervision authorities, has halted the planned Solana Accelerate China 2026 events in Shanghai and other cities and will investigate the entities and individuals involved. The official stated that Solana's promotional activities violated the notice issued by eight Chinese authorities in February 2026 on preventing and addressing risks related to cryptocurrencies. The PBOC will continue targeting domestic cryptocurrency trading businesses and China-based affiliates of overseas cryptocurrency issuance and trading platforms.
Open source