Solana Shanghai offline event halted before opening; central bank to investigate involved entities and individuals

Odaily: A responsible official from the relevant department of the People's Bank of China stated that Solana placed advertisements on the exterior wall of the Citigroup Tower in Lujiazui, Shanghai through a domestic entity to conduct virtual currency marketing and promotion. The People's Bank of China, together with local financial management, public security, market regulation and other departments, halted the "Solana Accelerate China 2026" offline event before it began and will investigate the entities and individuals involved. The official said 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 constitutes a violation. Next, the focus will be on cracking down on domestic traders and domestic affiliated entities of overseas platforms.