Solana’s planned event in Shanghai was abruptly halted due to unauthorized promotional activities. According to an anonymous official from the People’s Bank of China (PBOC) cited by China Financial News, Solana’s domestic promotional campaigns violated the country’s strict crypto regulations.
The incident highlights China’s ongoing stringent stance on crypto-related promotions and events. Despite growing global interest in Solana and other blockchain projects, China’s regulatory landscape remains restrictive, especially towards decentralized finance and related marketing efforts.
This move underscores the challenges faced by crypto projects operating or promoting within Chinese jurisdiction.