On November 6, the central bank halted an in-person Solana event in Shanghai and announced an investigation into the domestic entities and individuals involved. The reports are true.
It started when Solana placed an outdoor advertisement in Lujiazui and planned to hold the “Solana Accelerate China 2026” event. The central bank made its position clear: SOL is a virtual currency, and promoting it violates the Notice on Further Preventing and Addressing Risks Related to Virtual Currencies and Other Matters, issued by eight government departments in February this year.
What exactly is under investigation? Not the code behind the Solana blockchain, but the “domestic parties providing on-the-ground assistance.”
The regulatory approach has always been clear: virtual currency-related business activities are prohibited within China. If an overseas entity wants to operate here—whether by holding events, placing ads, or building an ecosystem—any domestic company or individual helping to represent or execute those plans becomes a “domestic affiliated party” subject to enforcement action.
Put simply, the red line hasn’t moved an inch. Overseas projects can’t use “brand promotion” or “technical exchange” as a pretext to make a high-profile appearance in China. For domestic service providers and industry professionals, handling the on-the-ground execution or marketing of crypto projects carries very real legal risks. In the short term, this means one event has been halted; in the long term, scrutiny of domestic partners will only grow tighter.
Follow me for more updates on this kind of regulation.
$SOL #solana #加密监管
This is an objective summary based solely on public information and regulatory mechanisms, and does not constitute investment advice.
It started when Solana placed an outdoor advertisement in Lujiazui and planned to hold the “Solana Accelerate China 2026” event. The central bank made its position clear: SOL is a virtual currency, and promoting it violates the Notice on Further Preventing and Addressing Risks Related to Virtual Currencies and Other Matters, issued by eight government departments in February this year.
What exactly is under investigation? Not the code behind the Solana blockchain, but the “domestic parties providing on-the-ground assistance.”
The regulatory approach has always been clear: virtual currency-related business activities are prohibited within China. If an overseas entity wants to operate here—whether by holding events, placing ads, or building an ecosystem—any domestic company or individual helping to represent or execute those plans becomes a “domestic affiliated party” subject to enforcement action.
Put simply, the red line hasn’t moved an inch. Overseas projects can’t use “brand promotion” or “technical exchange” as a pretext to make a high-profile appearance in China. For domestic service providers and industry professionals, handling the on-the-ground execution or marketing of crypto projects carries very real legal risks. In the short term, this means one event has been halted; in the long term, scrutiny of domestic partners will only grow tighter.
Follow me for more updates on this kind of regulation.
$SOL #solana #加密监管
This is an objective summary based solely on public information and regulatory mechanisms, and does not constitute investment advice.