🧐 Relevant bureaus of the People’s Bank of China: Solana’s advertising campaign in Shanghai and planned offline events have been halted; investigations will be launched against the involved parties. According to China’s Financial Times, Solana recently displayed advertisements on the exterior of the Citigroup Building in Lujiazui, Shanghai, and planned to hold offline “Solana Accelerate China 2026” events in Shanghai and other locations. These activities were halted by relevant authorities prior to their commencement. A spokesperson from the relevant bureau of the People’s Bank of China stated that the PBOC, in coordination with local financial regulatory, public security, and market supervision departments, has suspended the offline events and will work with relevant agencies to investigate the involved entities and individuals. The spokesperson emphasized that SOL is fundamentally a virtual currency, and Solana provides technical services for the issuance and trading of virtual currencies such as USDT. These activities are explicitly classified as illegal financial activities under the “Notice on Further Preventing and Handling Risks Related to Virtual Currencies,” jointly issued in February by the PBOC and seven other departments. Promoting Solana violates the provisions of this notice. Moving forward, the PBOC will continue to crack down on domestic virtual currency-related activities, with a focus on domestic virtual currency traders and domestic affiliates of overseas virtual currency issuance and trading platforms.