Solana Shanghai events halted amid regulatory scrutiny

Chinese authorities halted Solana’s planned promotional activities in Shanghai after advertisements appeared in the city’s Lujiazui financial district, according to an exclusive report by China’s Financial News.

The intervention targeted planned in-person events under the “Solana Accelerate China 2026” banner, which authorities stopped before their scheduled opening.

A People’s Bank of China department official said Solana’s advertising promoted cryptocurrency-related services through domestic organisations.

The official classified Solana’s promotional activities as prohibited under China’s February 2026 notice on virtual currency risks.

The official also said Solana provides technical services supporting the issuance and trading of cryptocurrencies, including Tether (USDT).

China’s restrictions build on policies introduced in 2013 and 2021, which denied cryptocurrencies legal tender status and restricted related business activities.

Separately, Solana organisers said a Shenzhen event session was cancelled after attendance exceeded expectations and indoor space became overcrowded, prompting police inquiries.

The developments highlight the regulatory constraints facing cryptocurrency promotion and industry events in mainland China.