A Solana community event in Shenzhen was abruptly shut down this week after local police arrived to investigate overcrowding, according to the South China Morning Post.
The gathering, part of the Solana Accelerate APAC series, took place on Tuesday and was cut short when officers entered the venue.
Organizers confirmed the site had exceeded capacity and cancelled the final hackathon for public safety.
The police presence triggered unease among attendees, who voiced concerns online that the intervention reflected broader scrutiny of crypto activities in mainland China.
This incident followed remarks from senior officials at the People’s Bank of China earlier in the week, who stated they would continue working with law enforcement to clamp down on cryptocurrency trading and speculative behavior.
Despite China's ban on crypto trading and fundraising since 2021, local blockchain events have persisted, but the police action at the Solana event signaled unpredictable enforcement.
In contrast, Solana is experiencing positive developments in the United States, with Grayscale Investments launching its staking-enabled Solana ETF on NYSE Arca on Wednesday, and Bitwise Asset Management debuting its Solana ETF a day earlier with approximately $223 million in assets under management.
Market data from Nansen showed SOL rising about 7% over the past week, from $177.80 to $194.08, amid growing institutional interest in Solana-based investment products.
The Shenzhen disruption highlights the regulatory risks facing global crypto networks in China, while U.S. ETF launches underscore divergent global trends for Solana.
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