Search results for People's Bank of China
Finance
Financial sector hacking spreads, delays gain support for digital asset tax postponement
A string of hacking incidents in South Korea’s financial sector has led to confirmed personal data leaks at savings banks and mutual finance groups, prompting authorities to step up inspections and security requirements. Banks are moving to raise cybersecurity spending and expand fraud prevention systems using AI. Market volatility and a steep stock selloff also drew a policy response. Political debate intensified over postponing digital asset taxation and regulating exchange shareholders.
Finance
Visa wins PBOC preparatory approval for China card clearing unit
Visa has received approval from the People’s Bank of China to begin preparations to set up a bank card clearing institution in China through its wholly owned unit, Visa Information Technology Beijing. The approval is a preliminary step and does not allow immediate operations. The report said Visa must complete preparations within a year and then apply for a formal licence. American Express and Mastercard previously obtained clearing licences from the PBOC.
Crypto
Bitcoin stalls near $64,000 as U.S. stocks, gold rise; what may drive a rebound
Bitcoin is struggling to set a clear direction near $64,000 even as U.S. stocks and gold climb. Gold rose 2.8 percent to $4,213 an ounce, its highest since June 22, helped by demand from China and 14 straight sessions of inflows into Chinese spot gold ETFs. The S&P 500 rose as well. Analysts say bitcoin needs sustained spot ETF inflows, stable U.S. Treasury yields and no further Fed rate hikes, along with a positive Coinbase premium.
