China’s Central Bank to Investigate Solana Advertising Campaign in Shanghai
China’s central bank is preparing to investigate entities and individuals involved in a Solana advertising campaign in Shanghai’s Lujiazui financial district, after authorities identified promotional activities marketing cryptocurrencies through domestic entities.
An official from the People’s Bank of China (PBOC) said authorities recently discovered that Solana had placed advertisements in Lujiazui, one of Shanghai’s key financial districts. The campaign reportedly used brand promotion to market cryptocurrencies through entities operating within China.
In response, the PBOC and several local authorities have halted plans for Solana Accelerate China 2026 events in Shanghai and other cities. The authorities involved include local financial regulators, police and market supervision agencies. They will also investigate the entities and individuals connected to the promotional activities.
PBOC Cites February 2026 Regulatory Notice
The PBOC official said Solana’s promotional activities violated a notice issued by eight Chinese authorities in February 2026. The notice concerns the prevention and handling of risks associated with cryptocurrencies.
The central bank’s position indicates that the investigation extends beyond the advertising campaign itself. Authorities are examining the domestic entities and individuals involved in promoting the cryptocurrency brand, according to the official’s statement reported by Wu Blockchain.
The planned Solana Accelerate China 2026 events have also been halted in Shanghai and other cities. The decision involves coordination between the PBOC and local financial regulators, law enforcement and market supervision authorities.
China Maintains Scrutiny of Cryptocurrency Businesses
The PBOC said it would continue targeting domestic cryptocurrency trading businesses, as well as China-based affiliates of overseas cryptocurrency issuance and trading platforms.
This enforcement focus covers both businesses operating in China's domestic cryptocurrency market and local affiliates connected to overseas platforms. The central bank said its efforts to address cryptocurrency-related risks would continue.
The investigation into Solana’s advertising campaign and the suspension of the planned events form part of the authorities’ response to promotional activities that the PBOC considers inconsistent with the February 2026 notice issued by eight Chinese authorities.
Wu Blockchain reported the development, citing a PBOC official. The authorities are set to investigate the entities and individuals involved in the campaign, while the central bank maintains its focus on domestic cryptocurrency trading businesses and China-based affiliates of overseas platforms.
Writer: Victoria HaleTechnology & Blockchain WriterVictoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.She prioritises clarity and accuracy when explaining technical developments to a general audience.
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