CJ - Cryptocurrency Specialist
On Wednesday, China's central bank increased its medium-term liquidity injections while renewing maturing policy loans, in line with market expectations. The People's Bank of China (PBOC) announced that it would maintain the interest rate of 2.75% on one-year medium-term lending facility (MLF) loans worth 499 billion yuan ($73.11 billion) to select financial institutions, which is the same rate as the previous operation.
According to a Reuters survey of 31 participants conducted this week, all respondents expected the MLF rate to remain unchanged, with 25 of them predicting that fresh fund offerings would exceed the maturity. As 300 billion yuan of MLF loans are set to expire this month, the operation resulted in a net fresh fund injection of 199 billion yuan into the banking system.
The central bank also injected an additional 203 billion yuan through seven-day reverse repos, while keeping the borrowing cost unchanged at 2.00%. The PBOC shared this information in an online statement.
The actions taken by China's central bank to inject liquidity into the financial system can potentially have an impact on the cryptocurrency market investment. An increase in liquidity in the traditional financial system can potentially lead to increased investment flows, including into cryptocurrencies.
However, China's regulatory stance on cryptocurrencies remains a major factor to consider. The Chinese government has taken a hard line against cryptocurrencies and crypto-related activities in recent years, including banning cryptocurrency exchanges and initial coin offerings (ICOs).
As a result, it is unclear whether the injection of liquidity by the central bank will have a significant impact on the cryptocurrency market in China. Nonetheless, any change in China's regulatory stance on cryptocurrencies could potentially have a more significant impact on the market than the central bank's liquidity injections.
To learn more about the most recent news that could potentially impact the cryptocurrency market, visit a trusted Bitcoin broker BC Bitcoin. The cheapest coin site where you can also educate yourself about different coins and wallets.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
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