# China Plans Crypto Crackdown on Domestic Crypto Trading Businesses and Offshore Platform Links

By Riza Dagoc

Canonical URL: https://www.tokenpost.com/news/regulation/51323
Published: 2026-11-08T03:30:57.000Z
Updated: 2026-11-08T03:30:57.000Z
Section: Regulation

> 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.