Chinese authorities halted the Solana Accelerate event in Shanghai over alleged unauthorized promotional activities involving domestic entities, according to a report by China’s state-backed Financial News cited in Cointelegraph’s November 6, 2026 article.
Financial News quoted an unidentified official from a department of the People’s Bank of China (PBOC), who alleged that Solana promoted its brand through domestic entities, including advertisements on a building in Shanghai’s Lujiazui financial district. The official also claimed that Solana provides technical services supporting cryptocurrency issuance and trading, which the official described as illegal financial activities under Chinese regulations.
Organizers cited registration limits
In an October 16 post on X, Solana Foundation president Lily Liu said organizers had postponed the Shanghai event to “comply with local requirements.” She said registrations unexpectedly quadrupled, exceeding the event cap pre-registered with local authorities.
That explanation differs from the alleged unauthorized promotion described in the Financial News report. The supplied reporting does not resolve the difference between the two accounts.
Earlier disruption and regulatory context
The Shanghai incident marked the second reported disruption of a Solana event in mainland China in two years. An October 2025 event in Shenzhen was cut short over venue-capacity and public-safety concerns, according to an X announcement by Solana’s Chinese-speaking community.
The report also noted that, in a February notice, the PBOC and several other agencies reinforced restrictions on crypto-related activities and included a new ban on the unauthorized issuance of yuan-pegged stablecoins.
Original publication: November 6, 2026, at 20:15:28 UTC+8. Read the original Cointelegraph article.