The People's Bank of China (PBOC) shut down Solana's "Accelerate China 2026" offline event in Shanghai before it began, citing violations of domestic cryptocurrency regulations. Authorities will investigate entities and individuals involved in organizing the event. According to a Financial Times report, a PBOC official stated that Solana placed advertisements on the exterior wall of Citigroup Tower in Lujiazui through a domestic entity, constituting virtual currency marketing and promotion. The central bank coordinated with local financial management, public security, and market regulation departments to halt the event. The official characterized SOL as essentially a virtual currency and noted that Solana provides technical services for USDT issuance and trading. Under a February notice issued by eight Chinese regulatory departments, promoting such assets violates current rules. Authorities indicated they will intensify enforcement against domestic dealers and affiliated entities of overseas crypto platforms.