PBOC Responds to Solana Shanghai Event Being Halted: Will Investigate the Parties Involved
Original headline央行回应 Solana 上海活动被叫停：将调查涉事方
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China’s central bank said it joined local financial, police and market regulators to halt Solana’s advertising and offline events in Shanghai, and will investigate the entities and individuals involved. The PBOC said Solana’s domestic advertising and brand promotion amount to virtual-currency marketing, and that its issuance of SOL and technical services for major tokens such as USDT constitute illegal financial activity under Chinese rules. The move signals continued enforcement against crypto-related business onshore even as overseas projects seek Chinese visibility. Watch whether the probe targets Solana’s local partners or exchanges and whether other offshore chains pause mainland marketing.
Muhabbit's AI wrote this summary in its own words from TechFlow's report and translated it from Chinese. It can get details wrong, so check the source.
Named in this story
People's Bank of China, Solana (SOL), USDT, Shanghai
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