Search results for People's Bank of China
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.
Crypto
Flows return as gold price decline narrows; Europe and Asia lead rebound in spot gold ETFs
Global spot gold exchange-traded funds drew $6.6 billion in April, reversing a massive outflow the month before. March saw $12 billion leave spot gold ETFs, the largest monthly outflow on record. The rebound coincided with a smaller fall in spot gold prices, with Europe leading inflows, followed by Asia and North America. Total assets rose to $615 billion and gold holdings increased to 4,137 tonnes. China’s central bank also continued buying gold.
Crypto
China bans stablecoin and RWA issuance by foreign and domestic firms
China has imposed a blanket ban on issuing yuan-based stablecoins and real-world asset (RWA) tokens, Cointelegraph reported on Thursday. The report said the People’s Bank of China and seven regulators issued a joint statement prohibiting unapproved issuance of stablecoins and RWAs. The measure applies equally to foreign and domestic firms. The move comes as China promotes the digital yuan and follows a pause in related private-sector experiments in 2025.