PBOC Responds to Shutdown of Solana's Shanghai Offline Event: Entities and Individuals Involved Will Be Investigated

We November 6 news: According to a Financial Times report, an official in charge of a relevant department of the People's Bank of China said that Solana placed advertisements on the exterior wall of the Citigroup Tower in Lujiazui, Shanghai through a domestic entity, carrying out virtual currency marketing and promotion. The People's Bank of China, together with local financial management, public security, market regulation and other departments, halted its "Solana Accelerate China 2026" offline event before it began, and will investigate the entities and individuals involved. The official said that SOL is essentially a virtual currency, and that Solana also provides technical services for the issuance and trading of USDT and others. According to the "Notice" issued by eight departments in February this year, promoting Solana is a violation. In the next step, authorities will focus on cracking down on domestic dealers and the domestic affiliated entities of overseas platforms.