China’s Central Bank to Probe Solana’s Ad Campaign in Shanghai’s Lujiazui​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​

China’s central bank, with local financial regulators, public security and market supervision departments, suspended Solana’s planned Solana Accelerate China 2026 offline events shortly before they began and said it would investigate involved companies and individuals after large Solana advertisements appeared on Shanghai’s Citi Group Building in Lujiazui. A People’s Bank of China official said Solana had used domestic entities for high-profile marketing. China has banned virtual-currency business for over a decade; in February, the central bank and eight other departments declared such business illegal financial activity and warned domestic individuals or organizations knowingly helping overseas platforms serve Chinese users might bear legal responsibility. The PBOC said Solana issues cryptocurrencies and supports trading of other virtual assets, including USDT.