Central Bank Responds to Solana Shanghai Event Cancellation, Says It Will Investigate Parties Involved

According to the Financial Times, a responsible official from the relevant department of the People's Bank of China responded to the cancellation of Solana's advertising and offline exchange event in Shanghai, stating that the central bank, together with relevant local financial regulators, public security, and market supervision authorities, has halted the event and will launch investigations into the involved entities and individuals in coordination with relevant departments.

The official stated that Solana used domestic entities to place advertisements, promote its brand, and conduct virtual currency marketing campaigns. Its issuance of the Solana coin and provision of technical services for the issuance and trading of major virtual currencies such as USDT are all classified as illegal financial activities, and the promotion of Solana has violated relevant regulations. Going forward, the People's Bank of China will continue to crack down on domestic virtual currency-related business activities, focusing on domestic virtual currency traders and the domestic affiliated entities of overseas virtual currency issuance and trading platforms, in collaboration with relevant departments and local governments.

[ChainCatcher]