Chinese Authorities Suspend Solana Event in Shanghai Over Unauthorized Promotions

The report cited an unnamed official from a branch of the People’s Bank of China (PBOC) who stated that Solana marketed its brand through domestic groups, including displaying advertisements on a building located in Shanghai’s Lujiazui financial district.

This official further alleged that Solana offers technical services that facilitate the issuing and trading of cryptocurrencies, activities deemed illegal financial operations under current Chinese laws.

This interruption marks the second time in two years that a Solana event has been disrupted in mainland China, illustrating the broad scope of the country’s crypto-related restrictions beyond just digital asset trading. Previously, in October 2025, a Solana event in Shenzhen was cut short due to venue capacity limits and public safety issues, as explained in an announcement from Solana’s Chinese-speaking community on social media platform X.

In an Oct. 16 post on X, Lily Liu, president of the Solana Foundation, explained that the Shanghai event was postponed to meet local regulations after registration unexpectedly surged to four times the approved number set with authorities.

Earlier in February, the PBOC along with other agencies tightened crypto policies further by banning unauthorized issuance of yuan-backed stablecoins, reinforcing the government’s stringent control over the sector.

The suspension of Solana’s Shanghai event highlights China's cautious stance on cryptocurrency activities, emphasizing its efforts to enforce strict compliance and limit unauthorized financial operations within its jurisdiction.