The central bank has issued its latest response: Solana’s high-profile “arrival in Shanghai” has been classified as publicity and promotion of illegal financial activities.
Recently, Solana placed advertisements on the exterior wall of the Citigroup building in Lujiazui and organized an in-person event, “Solana Accelerate China 2026,” which was abruptly called off just before it began. Officials from relevant departments of the People’s Bank of China made clear that SOL is essentially a virtual currency, and that Solana also provides technical services for USDT and other tokens. These activities all fall under the illegal financial activities defined in the February notice issued by eight government agencies this year, and promoting Solana has violated the regulations. The central bank has worked with local financial, public security, and market regulation authorities to call off the event, and will investigate the organizations and individuals involved.
#sol
Recently, Solana placed advertisements on the exterior wall of the Citigroup building in Lujiazui and organized an in-person event, “Solana Accelerate China 2026,” which was abruptly called off just before it began. Officials from relevant departments of the People’s Bank of China made clear that SOL is essentially a virtual currency, and that Solana also provides technical services for USDT and other tokens. These activities all fall under the illegal financial activities defined in the February notice issued by eight government agencies this year, and promoting Solana has violated the regulations. The central bank has worked with local financial, public security, and market regulation authorities to call off the event, and will investigate the organizations and individuals involved.
#sol
