Some members of Solana’s Chinese community have reportedly expressed concerns that attendees will be denied entry to a blockchain event as the country continues its crackdown on digital assets.
According to a Wednesday report from the South China Morning Post, the Solana Accelerate APAC Series event to be held in Shenzhen on Tuesday is Cut amid claims of overcrowding, “leading local police to conduct an inquiry into the site.”
Event organizers confirmed the venue had exceeded capacity and canceled the final hackathon “for public safety,” per the report. The police presence, however, reignited concerns on social media, with attendees reportedly expressing concerns about the country’s implementation of crypto and blockchain.
Leadership of the People’s Bank of China said on Monday Those authorities will work with law enforcement to crack down on cryptocurrency, especially regarding speculative activities. Cointelegraph reached out to the Solana Foundation for comment but did not receive a response by the time of publication.
The network, launched in 2020 by Solana Labs, has grown to become one of the most active blockchains in the crypto industry.
Related: Solana Staking ETF is ‘missing piece of the puzzle’: bitwise CIO
Solana ETF takes center stage in the US
In the United States, some asset management companies are starting to accelerate listings of exchange-traded funds tied to Solana (Sol). Grayscale Investments announced on Wednesday that it has staking-enabled launched The Solana ETF on the NYSE Arca, and Bitwise’s Solana ETF debuted Tuesday with nearly $223 million in assets.
https://www.youtube.com/watch?v=dnohwdbumi
According to data from Nansen, the price of Sol Rose Almost 7% in the last seven days, from $177.80 to $194.08 at the time of publication.
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