# PBOC İlgili Makaleler

HTX Haber Merkezi, kripto endüstrisindeki piyasa trendleri, proje güncellemeleri, teknoloji gelişmeleri ve düzenleyici politikaları kapsayan "PBOC" hakkında en son makaleleri ve derinlemesine analizleri sunmaktadır.

The Narrative of Gold's Rise is Becoming Harder to Sustain

The article argues that the narrative supporting gold's price surge is weakening, leaving only a fraction of its original justification. Historically, gold's primary drivers were its role as a safe-haven asset during crises (like the 2000 dot-com bubble and 2008 financial crisis) and as a hedge against inflation (e.g., during the Fed's QE periods). However, the author contends these core logics are now eroding. First, gold's safe-haven属性 is diminishing as its price action has recently become correlated with speculative assets like Bitcoin and US stocks, moving in sync with them on news like Trump's comments. This suggests投机属性 may be overshadowing its traditional避险 role. Second, the inflation hedge argument is weakening. The Federal Reserve's projected minimal rate cuts through 2026 suggest a stronger dollar and reduced expectations for significant USD depreciation. Similarly, the Japanese Yen's贬值 expectations are also easing. The author identifies only "0.5" reasons left for gold's rise: continued purchases by China's central bank. While China has been a consistent buyer, its purchasing speed has drastically slowed from a peak of nearly 600,000 ounces per month to a recent average of just 30,000 ounces. This minimal volume is deemed too small to significantly impact the global gold market, especially compared to London's daily clearing volume of over 18 million ounces. Furthermore, a technical divergence exists: gold prices accelerated upward in late 2024 even as China's buying slowed. The article concludes that with its避险属性 potentially exhausted, inflation expectations subdued, and China's buying influence limited, the current gold price appears to have overshot its fundamental supports. The author advises against high expectations for further sustained gains barring an extreme black-swan event.

比推03/24 04:21

The Narrative of Gold's Rise is Becoming Harder to Sustain

比推03/24 04:21

Bloomberg: The Recovery Is Just an Illusion, China's Crypto Regulation Enters a Deep Winter

Bloomberg reports that China's cryptocurrency regulatory environment has entered a "deep winter," despite earlier speculation of a potential thaw. Last year, optimism grew after the People’s Bank of China (PBOC) suggested the yuan could challenge the U.S. dollar's dominance. However, on February 7, China tightened restrictions, banning domestic entities from issuing digital tokens overseas and prohibiting unauthorized offshore issuance of yuan-pegged stablecoins, citing risks to monetary sovereignty. This move is a significant setback for Hong Kong, which has been striving to become a digital asset hub. The PBOC’s stance effectively ends hopes for offshore yuan-backed stablecoins, even in Hong Kong. Companies like Ant Group and JD.com had reportedly considered stablecoin plans but halted them following Beijing's intervention. Industry experts note that the restrictions clarify regulatory red lines but also highlight fundamental incompatibilities between capital controls and stablecoin freedom. Market sentiment remains weak, with Bitcoin perpetual open interest down roughly 50% from its October peak. Meanwhile, investors have withdrawn approximately $3.3 billion from U.S. Ethereum spot ETFs since October, reflecting broader caution. Crypto-native venture capital is shifting focus toward areas like stablecoin infrastructure and prediction markets, as other sectors struggle to attract attention.

marsbit02/11 12:12

Bloomberg: The Recovery Is Just an Illusion, China's Crypto Regulation Enters a Deep Winter

marsbit02/11 12:12

China Steps Up Crypto Crackdown, Blocks Domestic And Overseas Issuers

China has intensified its crackdown on the cryptocurrency sector, reinforcing its ban on virtual currencies while imposing stricter oversight on offshore token issuance linked to Chinese assets. The People’s Bank of China, along with other regulators, prohibited domestic firms and their overseas affiliates from issuing cryptocurrencies abroad without approval. The move specifically targets unauthorized offshore yuan-pegged stablecoins, emphasizing that the digital yuan remains the only state-backed digital currency. While the ban on cryptocurrencies remains, the new guidelines introduce regulatory clarity for real-world asset (RWA) tokenization, signaling a milestone for the RWA sector. Authorities expressed concerns over speculative risks and reiterated that virtual currencies lack legal status equivalent to fiat money.

bitcoinist02/07 16:01

China Steps Up Crypto Crackdown, Blocks Domestic And Overseas Issuers

bitcoinist02/07 16:01

China Bans Unauthorised Yuan-Pegged Stablecoins Overseas

China's regulators, led by the People's Bank of China (PBOC), have prohibited the unauthorized issuance of yuan-pegged stablecoins overseas and expanded the ban to include real-world assets linked to the currency. The joint statement, issued with seven government agencies, forbids both domestic and foreign entities from issuing such stablecoins without official approval. Authorities warn that these tokens mimic monetary functions and threaten monetary sovereignty, while unregulated circulation could undermine the yuan's stability. The ban also targets services related to tokenized financial assets, such as blockchain-based bonds or equities. This move reinforces China's 2021 crypto trading ban and aligns with its strategy to suppress private digital currencies while promoting the state-backed digital yuan (e-CNY).

TheNewsCrypto02/07 11:28

China Bans Unauthorised Yuan-Pegged Stablecoins Overseas

TheNewsCrypto02/07 11:28

China Turns To Interest Rates To Kick-Start Digital Yuan Adoption

China will allow commercial banks to pay interest on digital yuan (e-CNY) wallet balances starting January 1, 2026, shifting the digital currency from a cash-like instrument to a deposit-like asset. The People’s Bank of China (PBOC) introduced the new framework, which brings e-CNY under deposit insurance protection and requires non-bank payment providers to hold full reserves. By November 2025, e-CNY recorded 3.48 billion transactions totaling ¥16.7 trillion ($2.37 trillion). The move may influence where consumers and businesses store funds, as interest-bearing e-CNY becomes more attractive. Banks may face higher operational costs but could benefit from reduced nonbank platform deposits. The policy also strengthens cross-border testing and regulatory oversight.

bitcoinist12/30 20:07

China Turns To Interest Rates To Kick-Start Digital Yuan Adoption

bitcoinist12/30 20:07

China to Pay Interest on Digital Yuan to Boost Adoption

China's central bank will allow interest payments on commercial bank holdings of the digital yuan (e-CNY) starting January 1, 2026, transforming it from "digital money" to a "digital deposit currency." This move aims to boost adoption by making e-CNY more attractive compared to non-interest-bearing payment options. Digital yuan holdings will receive deposit insurance protection and be subject to interest rates aligned with existing deposit pricing guidelines. Despite technical maturity, e-CNY adoption has been challenged by dominant mobile payment platforms like Alipay and WeChat Pay. Meanwhile, China is expanding the digital yuan's cross-border usage through international partnerships and has established an e-CNY International Operation Center in Shanghai. The government continues to prohibit cryptocurrency trading and mining while advancing its state-backed digital currency.

TheNewsCrypto12/29 13:28

China to Pay Interest on Digital Yuan to Boost Adoption

TheNewsCrypto12/29 13:28

China CBDC Digital Yuan To Enter New Era on Jan. 1 — Here’s What’s Changing

China's digital yuan (e-CNY) will undergo a major transformation starting January 1, 2026, transitioning from a pilot program to a fully operational central bank digital currency (CBDC). A key change is the shift from a "digital cash" model to an interest-bearing "digital deposit" system, making it the world's first CBDC to pay interest. This move, announced by the People's Bank of China (PBOC), aims to drive adoption by making the e-CNY more attractive for both retail and institutional use. The upgrade enhances the currency's infrastructure with improved security, reserve requirements, and integration into broader financial services like payroll and loans. With transaction volumes already exceeding $986 billion by mid-2024, the e-CNY is poised to strengthen China's leadership in digital currency and expand its role in domestic and global trade.

ccn.com12/29 09:42

China CBDC Digital Yuan To Enter New Era on Jan. 1 — Here’s What’s Changing

ccn.com12/29 09:42

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