The People's Bank of China announced a 500 billion yuan buyout reverse repo operation on September 7, 2026, to maintain ample liquidity. The 3-month (89-day) operation uses fixed quantity, interest rate bidding, and multiple-price award, maturing on December 5, 2026.
A new joint notice from PBoC, CSRC and other agencies extends China's virtual currency ban to RMB-pegged stablecoins and tokenized real-world assets. Meanwhile, Hong Kong plans to grant first stablecoin licenses by March, with Ant Group and JD.com among interested parties.
JD.com and Ant Group are urging the PBOC to permit yuan-backed stablecoins to challenge the dominance of dollar stablecoins. Plans target a Hong Kong launch after August 1, aiming to internationalize the yuan amid capital control hurdles.
The People's Bank of China (PBoC) deputy governor Xuan Changneng stated that China's anti-money laundering (AML) efforts have entered a new phase of high-quality development. In 2025, national courts convicted over 2,000 cases under Article 191 of the Criminal Law for money laundering, with a particular focus on virtual currency laundering, professional money laundering, and cross-border laundering. Criminal groups exploit differences in legal systems and regulatory frameworks across jurisdictions, using nominee accounts, fund offsetting, and virtual currencies to obscure money flows. The situation poses new challenges to financial regulators and law enforcement worldwide, calling for enhanced international cooperation in intelligence sharing, investigations, and asset recovery.
