5th October 2026
By Shubhii Verma
Solana Co. Executive Chairman Joseph Chee said China could eventually find a way to regulate and manage cryptocurrency, despite maintaining strict restrictions on digital assets.
Speaking at Korea Blockchain Week, Chee argued that persistent interest in crypto among Chinese investors, academics and developers could make a complete prohibition difficult to sustain indefinitely. He stressed that any policy shift would take time.
China Could Shift From Crypto Ban to Regulation
Chee’s argument centers on the idea that management could eventually prove more practical than outright prohibition. China has repeatedly tightened controls because of concerns surrounding speculation, fraud, capital flight and financial instability. Yet interest in blockchain technology has continued.
Chee’s position also comes with an important caveat. Solana Co. is a treasury company focused on acquiring SOL, separate from the Solana Foundation, which is associated with the Solana blockchain. His expectations about Chinese demand therefore align with his company’s interests.
Blockchain Developer Activity Continues in China
Developer activity provides another indication of continued interest. Solana Accelerate APAC was held in Shenzhen in October 2025 and attracted enough attendance to face minor police scrutiny over capacity. Additional events were scheduled in major Chinese cities for October 2026, covering blockchain technology.
Such developer-focused gatherings occupy a different space from trading activity. Technical education and blockchain development are distinct from financial activities that Chinese authorities have prohibited, allowing ecosystems to maintain developer connections.
China’s Crypto Crackdown and Regulatory History
China’s restrictions developed over several years. Beijing banned initial coin offerings and crypto fundraising in 2017. In 2021, authorities expanded the crackdown, declaring cryptocurrency transactions illegal and restricting mining operations.
Hong Kong has followed a different regulatory path. Since 2023, licensed platforms have been permitted to serve retail crypto investors under a regulated framework. The city is therefore being watched as a possible testing ground for approaches that could influence broader Chinese digital-asset policy.
For the crypto industry, Chee’s comments point more toward long-term policy evolution than an immediate change. China’s mainland restrictions remain in place, while Hong Kong offers a more regulated environment.
The continued presence of Chinese developers and blockchain communities suggests demand has not disappeared. Whether Beijing ultimately chooses tighter management, broader restrictions, or a more flexible framework remains uncertain.
