People's Bank of China says Shanghai Solana event halted over suspected illegal cryptocurrency promotion
China’s central bank says Solana’s Shanghai event was stopped over illegal crypto promotion
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People's Bank of China said a Solana event held in Shanghai in October was halted after promoting virtual currencies triggered risks of illegal financial activities, and the relevant companies and individuals have been investigated. The central bank said Solana's SOL is a virtual currency, and that its network supports the issuance and trading of Tether's USDT. The event also involved inadequate customer identification and anti-money laundering measures, as well as risks from speculative trading; Shanghai's financial regulators, police and market regulators participated in the response.
Source:Cryptopolitan · cryptopolitan.com