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PBOC activates open market outright reverse repo operations facility

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PBOC activates open market outright reverse repo operations facility


BEIJING (Reuters) -China’s central bank announced on Monday it had activated its open market outright reverse repo operations facility and would use it to trade with primary dealers in open market operations on a monthly basis.

The bank took the decision to maintain a “reasonable abundance of liquidity in the banking system and further enrich the central bank’s monetary policy toolbox,” it said in a statement.

State-owned Shanghai Securities News said in an article published shortly after the People’s Bank of China’s (PBOC)notice that the facility was expected to cover three- and six-month tenors and that it would aid liquidity adjustments over the next year, citing people close to the central bank.

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The PBOC’s announcement said its new tool would have a tenor of less than one year.

“The central bank’s choice to launch this new tool at this time is also expected to be a better hedge against the concentrated expiry of medium-term lending facility before the end of the year,” the article said.

(Reporting by Joe Cash; Editing by Tom Hogue and Jacqueline Wong)

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CryptoCurrency

Saylor’s Bitcoin custody debacle highlights growing divide in crypto community

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Saylor’s Bitcoin custody debacle highlights growing divide in crypto community


As institutional interest in Bitcoin soars, the crypto community grapples with fundamental questions about custody and control.



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Binance founder CZ sees positive shift in crypto regulation worldwide 

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Binance founder CZ sees positive shift in crypto regulation worldwide 


Developing crypto regulations, along with a political shift toward cryptocurrencies, is a “very positive direction” for the industry, according to Changpeng Zhao.



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Harris win unlikely to rock Bitcoin price, but crypto fears persist, say observers

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Harris win unlikely to rock Bitcoin price, but crypto fears persist, say observers


With the US presidential elections nearing and no clear frontrunner, uncertainty looms over what effect the victor will have on the crypto sector.



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CryptoCurrency

Missing Bitcoin and lost execs: Halloween’s creepiest crypto mysteries

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Missing Bitcoin and lost execs: Halloween’s creepiest crypto mysteries


It’s Bitcoin White Paper Day, but it’s also Halloween. Here are Cointelegraph’s six crypto mysteries to share around the campfire.



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Bitget wallet on Telegram hits 6 million users 3 days after launch

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Bitget wallet on Telegram hits 6 million users 3 days after launch


Bitget Wallet’s Telegram Mini App, Bitget Wallet Lite mini, has attracted more than six million users in just three days after its soft launch.



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Bitcoin at 16: From experiment to trillion-dollar asset

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Bitcoin at 16: From experiment to trillion-dollar asset


In just 16 years, Bitcoin has grown to become the world’s 10th largest asset and the best currency for “financial freedom,” according to Tether CEO, Paolo Ardoino.



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