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 by Cointelegraph on Nov. 6, 2026.
The account differs from the explanation Solana Foundation president Lily Liu gave in an Oct. 16 post on X. Liu said organizers postponed the event to “comply with local requirements” after registration unexpectedly quadrupled, exceeding the attendance cap pre-registered with local authorities.
What the report alleged
Financial News cited an unidentified official from a department of the People’s Bank of China (PBOC). The official alleged that Solana promoted its brand through domestic entities, including by placing advertisements on a building in Shanghai’s Lujiazui financial district.
The official also claimed that Solana provides technical services supporting cryptocurrency issuance and trading, describing those services as illegal financial activities under Chinese regulations. These claims were attributed to the unnamed official, rather than presented as independently established findings.
A second reported disruption in mainland China
The Shanghai halt 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 announcement on X by Solana’s Chinese-speaking community.
The Shanghai report places promotional activities alongside trading in the scope of China’s crypto restrictions. In a February notice, the PBOC and several other agencies reinforced crypto-related restrictions and added a ban on the unauthorized issuance of yuan-pegged stablecoins.
The supplied report does not resolve the difference between the official’s allegations about promotion and Liu’s explanation concerning registration limits.
Original publication: Nov. 6, 2026, at 20:15:28 UTC+8.
Source: Cointelegraph’s original article.