Solana Foundation postponed Shanghai conference session after PBOC scrutiny

The Foundation initially blamed venue logistics but did not explain what happened or announce a new date. It said it would update the schedule once organizers confirmed new arrangements and notify registered attendees. No replacement date has been announced.

A People's Bank of China official, interviewed by the Financial Times, said authorities considered Solana's promotional activities a violation of China's restrictions on cryptocurrency-related businesses. The official said Solana had used local entities and high-profile advertising to promote its brand and cryptocurrency in China, and that authorities suspended its offline promotional activities and began investigating the companies and individuals involved.

The PBOC official said Solana's activities extend beyond blockchain technology: the platform issues the SOL token and provides technical services for other cryptocurrencies, including USDT, which the official said fall under the virtual currency-related businesses prohibited by China's regulatory framework. China has maintained restrictions on cryptocurrency activities since 2013, tightening them in 2021 and again in February 2026 through a joint notice issued by eight government departments. The PBOC cited concerns over money laundering, customer identification and market speculation, saying cryptocurrencies do not meet the country's financial regulatory requirements.

The incident came a day after Binance co-founder Changpeng Zhao praised Solana's growing presence in mainland China, including its Shanghai office and citywide advertising campaign, according to the report. The disruption also mirrored a similar incident at a Solana-themed event in Shenzhen in October 2025, when local police made inquiries and organizers later canceled the final hackathon presentation, citing overcrowding and safety concerns.