Solana event in China cut short as Beijing’s stablecoin warning sparks unease
While organisers attribute the disruption to overcapacity, some industry players fear a renewed crackdown on cryptocurrencies
A Solana-themed event in southern China that was cut short after a local police inquiry has raised concerns in the country’s cryptocurrency community amid new warnings from Beijing about stablecoin risks, despite organisers attributing the disruption to overcapacity.
The Solana blockchain’s Chinese community said on its official social media account that the Solana Accelerate APAC event in Shenzhen, held on Tuesday afternoon, was “exceptionally popular” and attendance far exceeded expectations.
“A few friends who were denied entry reported the event, leading local police to conduct an inquiry on site,” the post said. Organisers confirmed the venue’s overcapacity issue and decided to cancel a final hackathon presentation session “for public safety”.
The Shenzhen police did not disclose any information regarding the inquiry.
Although the incident was attributed to overcrowding rather than the event’s theme, it has sparked anxiety among industry players who fear a renewed crackdown on cryptocurrencies in mainland China.
Their heightened concerns reflect the ongoing uncertainties regarding digital asset policies.