Solana Co.'s Joseph Chee says China will find a way to manage crypto
In brief
- Joseph Chee, Solana Co. executive chairman, said China would find a way to manage crypto.
- Chee spoke at Korea Blockchain Week, saying the process would take time.
- Solana Co. is a SOL treasury company, separate from the Solana Foundation.
- Mainland bans on crypto trading and mining, dating to 2017 and 2021, remain in force.
- Hong Kong has licensed retail crypto platforms since 2023, a model Chee and others cite.
Who's making the case
Solana Co. is a treasury company focused on acquiring the SOL token. It's a separate entity from the Solana Foundation.
That context matters.
Crypto Briefing noted that Chee was speaking as an executive of a company with a direct stake in SOL. His argument starts from Beijing's own priorities: the report said China's concerns center on speculation and fraud, and Chee's view is that management, not prohibition, may become the more practical path. It's his opinion (not a policy signal from Beijing).
The rules still on the books
Beijing banned initial coin offerings and crypto-based fundraising in 2017. In 2021 it went further, declaring crypto transactions illegal and restricting mining. The stated goal was to limit risks tied to capital flight and financial instability, and those bans remain in force on the mainland.
Hong Kong took a different route. In 2023, it introduced a licensing regime that lets approved platforms serve retail crypto investors. Chee and others in the industry argue that this dual-track split (strict rules on the mainland, a licensed environment in Hong Kong) could offer a model for managing digital assets.
Developers keep showing up
According to the report, investors, academics and developers in China have kept engaging with crypto under a regulatory regime designed to discourage them, and Chee's remarks landed alongside a growing number of events aimed at Chinese-speaking developers.
Solana Accelerate APAC took place in Shenzhen in October 2025. Crypto Briefing reported the event faced minor police scrutiny over overcapacity. More events are scheduled for October 2026 in major Chinese cities, covering a range of technology themes.
Those meetups center on building and technical education rather than trading. That's a distinction worth noting in a country where domestic crypto trading is still banned.
Frequently asked questions
What crypto rules does mainland China currently enforce?
Beijing banned initial coin offerings and crypto-based fundraising in 2017. In 2021 it declared crypto transactions illegal and restricted mining, citing risks tied to capital flight and financial instability. Those bans on domestic trading, mining and related activity remain in force on the mainland.
How does Hong Kong's approach to crypto differ from the mainland's?
Hong Kong introduced a licensing regime in 2023 that lets approved platforms serve retail crypto investors. Joseph Chee and others in the industry argue this dual-track split, with strict rules on the mainland and a licensed environment in Hong Kong, could offer a model for managing digital assets.
Is Solana Co. the same as the Solana Foundation?
No. Solana Co. is a treasury company focused on acquiring the SOL token, and it's a separate entity from the Solana Foundation. Crypto Briefing noted that its executive chairman, Joseph Chee, speaks as an executive of a company with a direct stake in SOL.
