PBOC halts Solana events in China, launches probe into linked entities

The People’s Bank of China (PBOC) has intervened to stop offline promotional activities planned by Solana in mainland China and announced investigations into those behind the events. The central bank’s actions follow Solana’s recent push to expand its presence in the country with the opening of a new office in Shanghai. Solana initiated a high-profile marketing campaign approximately three weeks ago, spotlighting the grand opening of its Shanghai office and announcing a series of events across major cities in mainland China. The campaign aimed to introduce and engage the local community with Solana’s blockchain technology and ecosystem. The first event in the Solana Accelerate China series was scheduled to launch in Shanghai but was cancelled without advance notice.

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