Chinese financial authorities are launching a renewed offensive against cryptocurrency trading, declaring all virtual currency transactions—including those involving stablecoins—as illegal financial activities. This coordinated crackdown comes as speculative crypto trading sees a resurgence, challenging Beijing’s long-standing financial controls and highlighting the persistent underground demand from an estimated 59 million users who continue to access offshore platforms.
about China Reaffirms Crypto Ban Amid Resurgent Speculative TradingPBoC
0 in Finance and 0 in Crypto last weekChina’s Central Bank Rejects Crypto Policy Shift
China’s central bank governor has delivered a definitive rejection of speculation about easing the country’s cryptocurrency ban, confirming that existing prohibitions remain in full effect despite recent developments in Hong Kong. Pan Gongsheng’s clear statement at a Beijing financial conference dashes hopes for any near-term policy relaxation and reinforces Beijing’s continued hardline stance against crypto assets and stablecoins.
about China's Central Bank Rejects Crypto Policy ShiftChina Cracks Down on Crypto as Asia Launches Stablecoins
China’s central bank has reaffirmed its hardline stance against cryptocurrency operations, with PBOC Governor Pan Gongsheng declaring stablecoins fail to meet basic anti-money laundering requirements, even as neighboring Japan and South Korea launch regulated national stablecoins. This regulatory divergence underscores Asia’s fragmented approach to digital assets, with China maintaining strict domestic controls while monitoring overseas developments with growing concern.
about China Cracks Down on Crypto as Asia Launches StablecoinsChina Blocks Alibaba, JD.com Stablecoin Plans in Hong Kong
Chinese authorities have intervened to block stablecoin initiatives by Alibaba-backed Ant Group and JD.com in Hong Kong, signaling Beijing’s firm commitment to maintaining state control over monetary policy. The directive from the People’s Bank of China and Cyberspace Administration of China represents a strategic recalibration of Hong Kong’s digital asset role, emphasizing cross-border compliance over retail speculation and private currency issuance. This development underscores China’s cautious approach to cryptocurrency ventures that could potentially undermine its sovereign financial authority.
about China Blocks Alibaba, JD.com Stablecoin Plans in Hong KongChina Halts Ant Group, JD.com Stablecoin Plans in Hong Kong
Beijing regulators have forced two of China’s largest technology companies, Ant Group and JD.com, to suspend their stablecoin initiatives in Hong Kong following direct intervention from the People’s Bank of China and the Cyberspace Administration of China. This decisive move underscores Beijing’s determination to maintain strict control over digital currency issuance and highlights the fundamental question at the heart of the regulatory crackdown: whether coinage rights should belong to central banks or private market entities.
about China Halts Ant Group, JD.com Stablecoin Plans in Hong KongChina Halts Tech Giants’ Stablecoin Plans in Hong Kong
Chinese technology giants including Ant Group and JD.com have suspended their stablecoin issuance plans in Hong Kong following regulatory intervention from Beijing authorities. The Financial Times reported that both the People’s Bank of China and the Cyberspace Administration of China instructed companies to pause their plans, reflecting government concerns about private sector-controlled digital currencies gaining prominence in the financial ecosystem.
about China Halts Tech Giants' Stablecoin Plans in Hong KongChinese Investors Shift from Gold to Local Equities
Recent data reveals that Chinese retail investors are exiting gold-backed ETFs, with net outflows reaching 3.2 billion yuan ($450 million) this month. Analysts suggest they are reallocating profits into local equities, as the CSI 300 Index has gained 5.5% in a month. Meanwhile, experts argue that the People’s Bank of China (PBOC) is underreporting its gold reserves, with estimates suggesting holdings could be over double the official 2,296 tons. This divergence highlights contrasting strategies between retail investors and the government in China’s financial markets.
about Chinese Investors Shift from Gold to Local EquitiesChina Dumps US Treasuries, Hoards Gold Secretly
China has continued its trend of reducing US Treasury holdings, shedding $900 million in May, marking the third consecutive monthly decline. Meanwhile, reports indicate the country is secretly amassing significantly more gold than officially reported. Analysts, including Stefan Gleason of Money Metals and Joseph Cavatoni of the World Gold Council, speculate that China is underreporting its gold acquisitions to prevent price surges. Jan Nieuwenhuijs estimates China’s actual gold reserves at over 5,000 metric tons—more than double the official figure of 2,280 metric tons. The move reflects China’s strategic shift toward diversifying reserves away from the US dollar.
about China Dumps US Treasuries, Hoards Gold SecretlyChina Tech Giants Push for Yuan Stablecoins
Major Chinese technology companies like JD.com and Ant Group are actively lobbying the People’s Bank of China (PBOC) to authorize the issuance of yuan-denominated stablecoins. If approved, this could mark a significant step in China’s digital currency strategy, potentially integrating blockchain-based financial solutions with the traditional economy. The push reflects growing corporate interest in stablecoins amid global regulatory scrutiny and China’s own strict crypto policies. Such a development could also position the yuan more competitively in the global digital payments space.
about China Tech Giants Push for Yuan StablecoinsJD.com, Ant Group Push for Yuan Stablecoins to Rival USD
Chinese e-commerce giant JD.com and Ant Group, Alibaba’s fintech arm, are urging the People’s Bank of China (PBOC) to approve yuan-denominated stablecoins to counter the dominance of US dollar-pegged tokens in global markets. According to Reuters, the companies proposed launching offshore yuan-backed stablecoins in Hong Kong, arguing this would bolster the yuan’s role in international trade while diminishing the dollar’s influence. The push reflects China’s broader strategy to expand its currency’s reach and reduce dependency on the US financial system, though regulatory hurdles remain.
about JD.com, Ant Group Push for Yuan Stablecoins to Rival USDChina’s e-CNY Push Aims to Challenge US Dollar Dominance
China is aggressively promoting its digital yuan (e-CNY) as part of a strategy to diversify the global currency system and reduce dependence on the US dollar. The People’s Bank of China (PBOC) is establishing an international e-CNY hub in Shanghai to facilitate cross-border transactions, supported by projects like mBridge—a collaboration with Hong Kong, Thailand, and the UAE to bypass SWIFT. However, challenges remain, including the yuan’s limited convertibility and privacy concerns over real-time transaction tracking. Simultaneously, China faces scrutiny over unregulated offshore Bitcoin sales and unclear crypto asset management policies. Ironically, while cracking down on crypto domestically, Chinese mining firms like Bitmain are expanding operations in the US, raising geopolitical questions.
about China's e-CNY Push Aims to Challenge US Dollar DominanceBitcoin Could Hit $200K if Fed Cuts Rates, Says Dan Tapiero
Dan Tapiero, a prominent macro investor, suggests Bitcoin (BTC) could rally over 2x to $200,000 if the Federal Reserve slashes interest rates in response to a slowing US economy. He points to China’s recent rate cuts and liquidity injections as a potential precursor to similar Fed actions. Tapiero highlights that such monetary easing, aimed at countering economic headwinds, could debase fiat currencies and drive capital into Bitcoin. Currently trading near $97,095, BTC’s bullish case hinges on Fed policy shifts, with Tapiero drawing parallels to the 2009 financial crisis. The People’s Bank of China (PBOC) recently reduced rates and reserve requirements, freeing up ~$138.5 billion in liquidity—a move that could foreshadow global monetary trends.
about Bitcoin Could Hit $200K if Fed Cuts Rates, Says Dan Tapiero