Chinese authorities have confirmed they halted Solana Accelerate China 2026 in Shanghai before the event opened, after regulators identified promotional activity involving domestic entities. A People’s Bank of China official said Solana had advertised its brand through local parties, including a display on Citigroup Tower in Shanghai’s Lujiazui financial district. The intervention targeted promotion of Solana and its crypto-related activities inside mainland China.
The PBOC official said SOL is a virtual currency and that Solana also provides technical services supporting the issuance and trading of assets including USDT. Under rules issued by eight Chinese authorities in February 2026, domestic virtual-currency business activities are classified as illegal financial activities, while internet companies and other entities are restricted from providing marketing and promotional services. Authorities said the Solana promotion violated those rules.
The PBOC coordinated with local financial regulators, police and market-supervision authorities to stop the offline event and said the entities and individuals involved will be investigated. No penalties were announced in the statement. The next development to watch is the outcome of that investigation , as regulators also plan to intensify enforcement against domestic crypto traders and China-based entities connected to overseas platforms.
Source: Financial News .
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