An unnamed People’s Bank of China (PBOC) official said authorities halted a planned Shanghai event promoting Solana (SOL) before it opened and would investigate those involved over crypto promotion, Financial News reported Nov. 6.
The event was the Shanghai session of Solana Accelerate China 2026, scheduled for Oct. 16. The official cited domestic entities’ arrangements to advertise on the exterior of Citigroup Tower in Lujiazui, Shanghai. In the Financial News account, the official said the PBOC coordinated with local financial regulators, police and market-supervision authorities to stop the Shanghai session. The official said those involved would be investigated but did not identify the entities or individuals or specify possible penalties.
Solana had announced a four-stop tour running Oct. 16-22, with Shanghai first, followed by Hangzhou, Shenzhen and Beijing. The attendee notice for Shanghai cited venue logistics for the postponement, according to a ChainCatcher report reproducing the message. In an Oct. 16 post on X, Solana Foundation President Lily Liu said sign-ups multiplied fourfold overnight, surpassing the attendance limit filed with local authorities. She said organizers delayed the session to comply with local requirements. Her explanation did not mention government intervention, while the PBOC official’s account did not address the registration limit.
The official characterized Solana’s token and its technical role in issuing and trading virtual currencies such as Tether USDt (USDT) as prohibited business activity. A Feb. 6, 2026, notice from the PBOC and seven other departments treats specified virtual-currency operations as illegal financial activity and bars internet companies from providing commercial display, marketing or paid-promotion services for related businesses. The notice covers specified exchange, issuance-financing and financial-product activities.
The South China Morning Post reported that police made an on-site inquiry at an earlier Solana event in Shenzhen in October 2025. The Solana Chinese community said turnout exceeded expectations, and organizers canceled the final hackathon presentation, citing public safety.
The official gave no timetable for the investigation, and the attendee notice set no replacement date for the Shanghai session.
