Why Police Halted ‘Solana Accelerate China 2026’ in Shanghai?

China’s central bank has confirmed that authorities stopped Solana Accelerate China 2026 before its Shanghai event opened on October 16.

The People’s Bank of China (PBOC) also announced an investigation into the companies and individuals behind Solana’s local advertising activities.

The decision highlights China’s strict cryptocurrency regulations and creates new uncertainty around Solana’s promotional activities in mainland China.

Key Takeaways

• China’s central bank confirmed that authorities halted Solana’s Shanghai event and are investigating the parties involved.

• The PBOC considers SOL promotion and related cryptocurrency services illegal financial activities under its February 2026 notice.

• The investigation targets domestic partners and promotional activities, without announcing restrictions on SOL holders outside mainland China.

What Did China’s Central Bank Say About Solana?

On November 6, 2026, an unnamed PBOC department head spoke to Financial News, a newspaper supervised by the central bank, explaining why authorities stopped Solana Accelerate China 2026.

The official said Solana had conducted cryptocurrency marketing through domestic partner companies.

Authorities also identified advertising placements on the exterior of Citigroup Tower in Lujiazui, Shanghai’s main financial district.

The PBOC worked with local financial regulators, public security authorities, and market supervision departments to halt the offline events.

The official also confirmed that an investigation would examine the companies and individuals involved.

Two activities were highlighted:

• Promoting SOL as a virtual currency.

• Providing technical services for issuing and trading major digital assets, including USDT.

The central bank considers these activities illegal financial operations under China’s February 2026 regulations.

Why Was Solana Accelerate China 2026 Suspended?

The Shanghai event was originally scheduled for October 16, 2026, at the Shangri-La Hotel. However, organizers announced a postponement on the morning of the event.

Solana Foundation president Lily Liu initially explained that registrations had quadrupled overnight, exceeding the attendance limit registered with local authorities. She said postponing the event was necessary to comply with local requirements.

However, the PBOC later presented a broader regulatory explanation.

According to its official, authorities stopped the event because Solana’s cryptocurrency marketing activities violated China’s virtual currency regulations.

These explanations highlight two different issues: event capacity and regulatory compliance.

While Liu discussed attendance limits, the PBOC focused on cryptocurrency promotion and the involvement of domestic companies.

The central bank also confirmed that other planned events in cities such as Hangzhou, Shenzhen, and Beijing were halted.

How China’s February 2026 Crypto Rules Affect Solana

The investigation refers to the Notice on Further Preventing and Handling Risks Related to Virtual Currencies, issued on February 6, 2026, by the PBOC and seven other government bodies.

The notice restates that cryptocurrency-related business activities within mainland China constitute illegal financial activities.

It also establishes restrictions on overseas cryptocurrency companies providing services to domestic users and on domestic parties assisting those operations.

For Solana, this creates regulatory concerns beyond the SOL token itself.

The PBOC specifically highlighted Solana’s technical services for issuing and trading assets such as USDT.

The official also argued that virtual currencies cannot adequately meet customer identification and anti-money laundering requirements.

For companies working with overseas crypto platforms, the rules create potential legal liability when they knowingly assist prohibited activities.

For readers following the China crypto ban update in 2026, this investigation shows that advertising and brand promotion can also attract regulatory attention.

What Does the Investigation Mean for Solana and SOL?

The investigation raises questions about Solana’s ability to promote its ecosystem through domestic partners in mainland China.

However, the PBOC has not announced specific penalties or named the companies and individuals under investigation. It has also not provided a timeline for the investigation.

Importantly, the official’s comments focus on cryptocurrency promotion and business activities within China.

They do not establish new restrictions on SOL holders, validators, or exchanges operating outside mainland China.

For traders, it is important to distinguish between regulatory developments affecting a project’s local operations and changes to the token’s broader market activity.

If you follow SOL and other cryptocurrencies, keeping track of regulatory developments can help you make more informed trading decisions.

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What Happens Next After the Solana Shanghai Investigation?

The next important development will be whether Chinese authorities identify the domestic companies or individuals involved in Solana’s advertising and event organization.

Several developments are worth watching:

• Investigation results: Whether authorities announce the identities of the parties involved or introduce penalties.

• Official regulatory updates: Whether the PBOC publishes a formal statement beyond the Financial News interview.

• Solana’s response: Whether the Solana Foundation or Lily Liu publicly addresses the central bank’s explanation.

• Future events: Whether the postponed Shanghai event or other planned activities will be formally cancelled or rescheduled.

Solana’s activities in Hong Kong have continued alongside the mainland action.

On October 30, Solana announced that Anchorpoint’s HKDAP stablecoin would support native minting and redemption on its network.

Earlier in October, the Pando Solana ETF also began trading on the Hong Kong exchange.

These developments show the different regulatory environments surrounding cryptocurrency activities in mainland China and Hong Kong.

Conclusion

China’s decision to halt Solana Accelerate China 2026 reflects its continued restrictions on cryptocurrency-related business activities.

The PBOC’s investigation also highlights the potential legal risks for domestic companies involved in overseas crypto promotion.

Although the investigation does not announce new restrictions on SOL holders outside mainland China, it remains an important development for the Solana ecosystem.

For traders following SOL and other digital assets, Bitrue offers an accessible platform for easier and safer crypto trading.

FAQ

Why was Solana Accelerate China 2026 cancelled?

Authorities halted the event because Solana’s cryptocurrency marketing and promotional activities reportedly violated China’s February 2026 virtual currency regulations.

When did China suspend the Solana Shanghai event?

Authorities stopped the Shanghai event on October 16, 2026, before it opened. The PBOC publicly explained its regulatory position on November 6, 2026.

Why did the PBOC investigate Solana?

The PBOC identified Solana’s domestic advertising activities, SOL promotion, and technical services related to issuing and trading digital assets such as USDT as illegal financial activities.

Is SOL illegal in China?

The PBOC considers SOL a virtual currency and its promotion within mainland China a violation of applicable regulations. The announcement does not introduce new restrictions on SOL holders or services operating outside mainland China.

Will Solana Accelerate China 2026 be rescheduled?

There has been no confirmed announcement about rescheduling the event. The PBOC has also not provided a timeline for its investigation or announced specific penalties for the parties involved.

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