Solana’s Shanghai event halted over unauthorized promotion: Report
Chinese authorities halted Solana Accelerate in Shanghai over alleged unauthorized promotion by domestic entities, including advertising in the Lujiazui financial district. A state-backed Financial News report cited an unidentified PBOC official who said Solana’s technical support for cryptocurrency issuance and trading constitutes illegal financial activity under Chinese rules. Solana Foundation president Lily Liu said the event was postponed to comply with local requirements after registrations surged beyond the attendance limit filed with authorities. The disruption underscores China’s restrictions on crypto activity beyond trading; a Solana event in Shenzhen was also reportedly cut short in 2025. In February, the PBOC and other agencies reaffirmed restrictions, including a ban on unauthorized yuan-pegged stablecoin issuance.
