Registrations quadrupled, but the conference was still shut down in Shanghai 🦖
🕐 最新解读群里更新
On November 6, the Financial News, which is overseen by the central bank, reported that Solana’s Shanghai Accelerate event had been shut down.
The reason wasn’t the conference content, but that a domestic entity had promoted it on Solana’s behalf. An exterior billboard on a building in Lujiazui was specifically called out.
An unnamed central bank official said Solana had promoted its brand through a domestic entity and provided technical services supporting the issuance and trading of cryptocurrencies—activities classified as illegal financial activity under China’s current regulations ⚖️
This isn’t the first time.
Over the past two years, this is the second time a Solana event in mainland China has been disrupted.
The Shenzhen event in October 2025 ended early due to concerns about venue capacity and public safety.
There were hints in the timeline: on October 16, Solana Foundation President Lily Liu said on X that the Shanghai event had been postponed to comply with local requirements, after registrations suddenly quadrupled and exceeded the scale preregistered with local authorities 📈
That fourfold increase is significant.
It suggests that what triggered regulatory action wasn’t what was said on stage, but the size of the in-person gathering and the way domestic entities were involved.
In February this year, the central bank and several other departments reiterated restrictions related to crypto and added a new one: issuing stablecoins pegged to the yuan without approval is prohibited.
Put these developments together, and the logic is clear: the technology can exist, but fundraising, trading, and brand promotion aimed at the public within China cannot.
My take is that expanding overseas doesn’t mean you can freely market within China.
Billboards, registration pages, payment channels, and the legal entity organizing the event—any of these could be grounds for a determination.
The event being shut down doesn’t mean the protocol has been blocked, but it is a real cooling-off moment for the local community.
For traders, news like this usually causes only short-term sentiment swings. Today, SOL is at $90.6, down 4.9% in 24 hours; Bitcoin is at $76,192, down 4.56%; and Ethereum is at $2,243, down 6.58%. The broader market was already under pressure from the AI sell-off, and this news has simply added another layer of uncertainty for Solana.
What’s really worth watching is what happens next: will the investigation name specific event organizers, and will other public blockchains cancel similar in-person events?
Where do you think the line should be drawn for projects holding in-person events within China? Let’s talk in the comments.
Every day, I bring you the latest in crypto regulation—not just what’s happening, but the logic and opportunities behind the news 👀🚀
🕐 最新解读群里更新
On November 6, the Financial News, which is overseen by the central bank, reported that Solana’s Shanghai Accelerate event had been shut down.
The reason wasn’t the conference content, but that a domestic entity had promoted it on Solana’s behalf. An exterior billboard on a building in Lujiazui was specifically called out.
An unnamed central bank official said Solana had promoted its brand through a domestic entity and provided technical services supporting the issuance and trading of cryptocurrencies—activities classified as illegal financial activity under China’s current regulations ⚖️
This isn’t the first time.
Over the past two years, this is the second time a Solana event in mainland China has been disrupted.
The Shenzhen event in October 2025 ended early due to concerns about venue capacity and public safety.
There were hints in the timeline: on October 16, Solana Foundation President Lily Liu said on X that the Shanghai event had been postponed to comply with local requirements, after registrations suddenly quadrupled and exceeded the scale preregistered with local authorities 📈
That fourfold increase is significant.
It suggests that what triggered regulatory action wasn’t what was said on stage, but the size of the in-person gathering and the way domestic entities were involved.
In February this year, the central bank and several other departments reiterated restrictions related to crypto and added a new one: issuing stablecoins pegged to the yuan without approval is prohibited.
Put these developments together, and the logic is clear: the technology can exist, but fundraising, trading, and brand promotion aimed at the public within China cannot.
My take is that expanding overseas doesn’t mean you can freely market within China.
Billboards, registration pages, payment channels, and the legal entity organizing the event—any of these could be grounds for a determination.
The event being shut down doesn’t mean the protocol has been blocked, but it is a real cooling-off moment for the local community.
For traders, news like this usually causes only short-term sentiment swings. Today, SOL is at $90.6, down 4.9% in 24 hours; Bitcoin is at $76,192, down 4.56%; and Ethereum is at $2,243, down 6.58%. The broader market was already under pressure from the AI sell-off, and this news has simply added another layer of uncertainty for Solana.
What’s really worth watching is what happens next: will the investigation name specific event organizers, and will other public blockchains cancel similar in-person events?
Where do you think the line should be drawn for projects holding in-person events within China? Let’s talk in the comments.
Every day, I bring you the latest in crypto regulation—not just what’s happening, but the logic and opportunities behind the news 👀🚀
