Business · Markets · 12 hrs ago
China’s central bank to investigate Solana activities on the mainland
China’s central bank has moved against Solana activities planned for mainland China.
The People’s Bank of China halted recent offline events that Solana had planned to hold there.
The bank said it would investigate the entities and individuals involved, according to a report by Financial News.
Solana is a blockchain platform whose token was described as the world’s seventh-largest cryptocurrency.
The move signals no easing in China’s cryptocurrency crackdown and reflects Beijing’s opposition to foreign public blockchains.
The investigations are the next step announced, but no further details were given.
China’s central bank plans to investigate entities and individuals involved in Solana campaigns on the mainland.
The People’s Bank of China had halted recent offline events that Solana planned to hold in mainland China.
The pledge was reported by Financial News, a publication backed by the central bank.
The report described Solana as a platform for issuing its token and providing services for cryptocurrency and stablecoin issuance and trading.
- Who
- The People’s Bank of China plans to investigate entities and individuals involved in Solana’s mainland campaigns.
- What
- The central bank halted Solana’s planned offline events and said it would investigate those involved.
- When
- The events were halted recently; the report appeared on Friday, according to the article.
- Where
- Mainland China.
- Why
- Not stated.
This story does not have two clearly opposing sides.
The PBOC halted offline events Solana planned to hold in mainland China.
Financial News reported that the PBOC would investigate the entities and individuals involved.
- Central bank
- People’s Bank of China
- Project
- Solana
- Location
- Mainland China
- Report outlet
- Financial News
- Stablecoin example
- USDT
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virtual currency issuance platform