Chinese regulators halt Solana Accelerate event in Shanghai over promotion claims

Chinese regulators stopped the Solana Accelerate event in Shanghai, citing alleged unauthorized promotional activities involving Chinese entities, according to the state-backed Financial News on Friday. The intervention reflects China’s ongoing crackdown on cryptocurrency activity, which extends beyond trading to include related technical and promotional services. Regulators previously warned that any company offering platforms, infrastructure, or other services for digital assets could be subject to investigations or penalties. The PBOC, China’s central bank, has spearheaded enforcement actions against crypto-related events and services across the country. China officially banned cryptocurrency trading and initial coin offerings in 2017 before broadening restrictions to cover all crypto transactions and mining activities over the following years. Mini dictionary: Lujiazui is Shanghai’s primary financial district, known for hosting the headquarters of major Chinese and international financial institutions.

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