Shanghai Solana event halted and investigated
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AI-assisted source synthesis · not an independent investigation.
A report dated November 6, 2026, stated that the People's Bank of China said an event held by Solana in Shanghai in October 2026 was halted for allegedly promoting virtual currencies and triggering the risk of illegal financial activities. The central bank said that 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 the risk of speculative trading. Shanghai financial regulators, public security authorities, and market regulators participated in the handling of the matter, and the relevant companies and individuals have been investigated.
AI-written from reports · updated 1 hour ago
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- CryptopolitanPeople's Bank of China says Shanghai Solana event halted over suspected illegal cryptocurrency promotion
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.
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