China’s central bank has opened an investigation into Solana following the cancellation of a promotional event in Shanghai on October 16. It has also suspended future in-person Solana promotional events in the country and will examine the platform and any relevant individuals. According to the report, Solana’s activities as a virtual currency provider are illegal under China’s 2021 cryptocurrency legislation, which also prohibits such promotions. At the time of publication, Solana was trading at $90, down 15% since the event was cancelled.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
