China Opens Solana Investigation After Police Stop Shanghai Event

China’s central bank has opened an investigation into the companies and people behind Solana’s activities in China. It also confirmed on November 6 that authorities stopped Solana’s Shanghai event before doors opened. The People’s Bank of China (PBOC) said promoting Solana (SOL) itself breaks Beijing’s crypto rules. That puts Solana’s local partners at legal risk and clouds its push to win Chinese software developers. What Did China’s Central Bank Say About Solana? The PBOC spoke through Financial News, a newspaper the central bank runs. An unnamed department head reportedly gave the paper an exclusive interview. The official said monitoring showed Solana using a domestic company to run high-profile ads for its brand and coin.

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