Add as a preferred source on GoogleChina Plans Crypto Crackdown on Domestic Crypto Trading Businesses and Offshore Platform Links
The PBOC also plans to investigate people and institutions involved in promoting a Solana event halted in Shanghai before it opened.
China’s central bank says its next enforcement push will target domestic crypto trading businesses and China-based parties tied to offshore platforms, while investigating Solana promotion at a halted Shanghai event.
The People’s Bank of China (PBOC) said institutions and individuals connected to the promotion will face investigation. Authorities stopped the in-person event, “Solana Accelerate China 2026,” before it opened, with the PBOC working alongside local financial management, public security and market supervision bodies.
A PBOC official said Solana promotion included advertising on the exterior of the Citi building in Shanghai’s Lujiazui district through a domestic institution. The official classified SOL as a virtual currency and described Solana as providing technical services for Tether (USDT) issuance and trading.
The official said Solana promotion violates a notice issued by eight government departments in February. The PBOC’s next enforcement focus will include domestic trading businesses and China-based parties connected to overseas platforms, the official said.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.