The central bank responded to the suspension of the Solana event in Shanghai and will investigate the parties involved

According to the Financial Times, a responsible official from the People's Bank of China responded to the suspension of Solana's advertising and offline communication activities in Shanghai, stating that the People's Bank has collaborated with relevant local financial management, public security, market supervision, and other departments to halt the activities, and will work with relevant departments to investigate the involved entities and individuals.

The official stated that Solana has been advertising and promoting its brand through relevant domestic entities, engaging in virtual currency marketing. Its issuance of Solana coins and the provision of technical services for the issuance and trading of major virtual currencies such as USDT are considered illegal financial activities, and the promotion of Solana has violated relevant regulations.

Moving forward, the People's Bank will focus on domestic virtual currency traders and domestic affiliates of overseas virtual currency issuance and trading platforms, continuing to crack down on domestic virtual currency-related business activities.