Key Takeaways
- The PBOC is probing Solana’s new Shanghai office, reinforcing China’s hostility toward crypto.
- Authorities halted a Solana event in Shanghai, enforcing strict bans on digital asset activities.
- This swift crackdown crushes industry hopes of China reopening its markets to foreign crypto firms.
Report: Solana to Be Probed Over Crypto Activities in China
China remains an unfriendly jurisdiction for crypto companies, and those who took risks to make inroads now face scrutiny.
According to SCMP reports, the People’s Bank of China (PBOC) is preparing to probe the activities of Solana, a top-ten cryptocurrency project operating in mainland China, reinforcing the country’s hostile stance on digital assets.
Financial News, a…
