According to a report cited by ChainCatcher from Jin10, Dong Ximiao, chief economist at China Merchants Union Consumer Finance, said China could roll out both a reserve requirement ratio cut and an interest rate cut in the third quarter. He said that if the momentum of the economic recovery weakens at the margin in the second half of the year, policymakers may lower the policy rate by 10 to 20 basis points at an appropriate time. On reserve requirement reductions, Dong said there is still room for a 25 to 50 basis point cut this year, with a possible implementation window during a peak in bond supply or a period of tight liquidity. The report added that the People’s Bank of China is expected to make greater use of structural monetary policy tools to adjust market liquidity.

China’s central bank carried out a 2.705 billion yuan seven-day reverse repo operation on Thursday, according to a report cited by ChainCatcher from Jin10. The bid volume and the amount awarded were both 2.705 billion yuan, and the operation rate was set at 1.4%. The People’s Bank of China also conducted a separate 6 billion yuan overnight reverse repo operation on the same day. No additional details were provided in the brief update. The item was published by ChainCatcher as a 7x24 news flash, citing Jin10 as the source for the central bank operation data.

A WuBlockchain-reposted opinion article argues that Bitcoin’s long-running “digital gold” label is coming under fresh pressure after a trading session in which Bitcoin and gold moved in opposite directions. The piece says Bitcoin fell for a fourth straight day to $59,701, while the Crypto Fear & Greed Index dropped to 12, a reading categorized as extreme fear. Gold, by contrast, rose $46.5 to $4,036.8 an ounce, while copper turned higher and China’s three major A-share indexes extended gains. The article cites data from Mudrex and CoinDesk saying Bitcoin’s correlation with the Nasdaq shifted from -0.68 to +0.72 within two weeks in February 2026. It also says Bitcoin’s correlation with gold at one point fell close to -0.88, based on Mudrex data. The article argues that this behavior makes Bitcoin look closer to a high-beta tech asset than to a traditional safe-haven instrument. It also contrasts gold’s role in official reserves with the regulatory treatment of cryptocurrencies in China. Citing the World Gold Council, the article says global central banks added about 634 tons of gold in the first three quarters of 2025. It also cites Securities Times and Eastmoney as saying the People’s Bank of China increased its gold holdings for 17 consecutive months to about 74.38 million ounces. The article notes that China continues to classify virtual currency exchange and trading-related activities as illegal financial activity under a joint notice issued by eight authorities including the PBOC.

The Shenzhen branch of the People’s Bank of China, the Shenzhen office of the China Securities Regulatory Commission, the city’s Cyberspace Administration office, and the local financial regulator have jointly carried out a recent cleanup of online financial information. Authorities disclosed a batch of typical cases involving self-media accounts linked to virtual currency promotion and illegal stock recommendation. According to the notice, several accounts were sanctioned for publishing marketing and promotional content related to virtual currencies. The named accounts included “USDT Merchant Exchange Group,” “Let’s Team Up to Play Virtual Currency,” “Search Bitcoin,” “Weizhi Quick Exchange,” and “Zhonglian Lao Jiu.” Officials said these accounts were suspected of promoting virtual currency business to users in mainland China and inducing the public to take part in illegal financial activities tied to virtual currencies. Authorities said the accounts had already been permanently shut down by the relevant platforms in accordance with platform rules and policy requirements, including the Notice on Further Preventing and Dealing With Risks Related to Virtual Currency. Shenzhen officials added that they will keep strengthening governance over online financial information and continue cracking down on virtual currency speculation and illegal stock-picking activities.

Michael Howell, founder of CrossBorder Capital, said on the What Bitcoin Did podcast that global liquidity has already peaked and started to roll over, a shift he says helps explain why liquidity-sensitive assets such as Bitcoin and gold have run into trouble. Howell argued that the modern financial system is best understood as a debt refinancing machine rather than a mechanism primarily designed to fund new productive investment. In his view, liquidity enters the financial sector first, supports debt rollover, spills into risk assets, and only later reaches the real economy. He said global debt now stands at roughly $350 trillion to $400 trillion, with an average maturity of around five years, implying that $70 trillion to $75 trillion in debt needs to be refinanced each year. That refinancing need, he said, is the real foundation of the global liquidity cycle. Using data back to 1965 across about 90 economies, Howell said his firm sees a cycle of roughly 65 months. He said the latest cycle bottomed in September 2022, peaked near the end of the third quarter last year, and may not bottom again until some point in 2027, likely in the second half. Howell also said Bitcoin is not governed by a four-year cycle, but by a broader five- to six-year liquidity cycle that also affects gold. While he remains bullish on both assets over the long run, he said he would not buy aggressively at current levels and warned that the refinancing wall beginning in 2025 could bring renewed market stress before liquidity returns.

Jiangsu added 7 trillion yuan in digital yuan transaction value in the first half of the year, with total transaction scale representing more than 80% of the national total, according to Tang Zhixin, deputy governor of the People’s Bank of China Jiangsu branch. Speaking at a third-quarter 2026 press briefing, Tang said the province’s digital yuan transaction amount grew 215% year over year during the period. He also said cross-border digital yuan transactions in Jiangsu reached 70.3 billion yuan, nearly three times the full-year total recorded in 2025. The province had 81.323 million cumulative digital yuan wallets, 12.312 million monthly active wallets, and 4.127 million merchants accepting the payment method. The figures offer a snapshot of digital yuan adoption in one of China’s largest regional markets, covering transaction growth, cross-border usage, wallet activity and merchant acceptance.

China's PBOC and seven agencies issued revised rules on Friday, banning unauthorized offshore yuan-pegged stablecoins, bringing RWA tokenization under regulatory control for the first time, and reaffirming crypto business as illegal while pushing the digital yuan.

At a June 17, 2026 forum, Wang Xin called for stricter global standards on stablecoins, warning that payment infrastructure is growing more fragile and vulnerable to political disruption.