Solana's push into mainland China hit a wall after the People's Bank of China said it stopped Solana Accelerate China 2026 together with local financial, police and market regulators. The central bank will also investigate the entities and individuals behind the activities.

The trigger included Solana ads placed through a domestic entity on the facade of Citigroup Tower in Lujiazui, Shanghai's financial district. The official called this virtual currency marketing and said SOL issuance and technical services for USDT issuance and trading count as illegal financial activity.

Under the crypto notice issued by eight Chinese departments in February, promoting Solana is a violation.

The regulator said it will next target domestic crypto traders and local affiliates of offshore token issuers and trading platforms, signaling a wider crackdown on crypto business activity inside China.