CZ's comment is quite thoughtful. It both acknowledges that the competitor has done well in local implementation in China, while not making himself sound too weak.
Personally, I think Solana being able to open a builder station in Shanghai, or even run a lighting ad on the Shanghai Tower, is more because they follow a blockchain technology + developer ecosystem path, rather than directly promoting exchange business and token trading. China currently bans coins but not blockchain, and is relatively lenient toward purely technical activities. Solana's positioning happens to fit into that gap. BNB Chain is too closely tied to Binance, so outsiders can easily equate the two, which naturally raises regulatory sensitivity. It really is hard to make similar moves.
This in itself shows that blockchain projects can still find compliant room to operate in China, but the size of that room has a lot to do with how strongly a project is tied to exchange-related business. I hope future policies can more clearly distinguish technology from trading, and be a bit friendlier to all projects that are seriously building developer ecosystems.
$BTC
$BNB
Personally, I think Solana being able to open a builder station in Shanghai, or even run a lighting ad on the Shanghai Tower, is more because they follow a blockchain technology + developer ecosystem path, rather than directly promoting exchange business and token trading. China currently bans coins but not blockchain, and is relatively lenient toward purely technical activities. Solana's positioning happens to fit into that gap. BNB Chain is too closely tied to Binance, so outsiders can easily equate the two, which naturally raises regulatory sensitivity. It really is hard to make similar moves.
This in itself shows that blockchain projects can still find compliant room to operate in China, but the size of that room has a lot to do with how strongly a project is tied to exchange-related business. I hope future policies can more clearly distinguish technology from trading, and be a bit friendlier to all projects that are seriously building developer ecosystems.
$BTC
$BNB