Former Vice President of the People's Bank of China: The policy orientation to resolutely contain virtual currencies, including stablecoins, has been completely clarified
On December 5, Wang Yongli, former vice president of a Chinese bank, published an article titled **"Why Is China Resolutely Halting Stablecoins?"**
In the piece, he noted that China is accelerating digital yuan development and has clearly outlined its policy stance to firmly curb all virtual currencies—including stablecoins. This decision stems from comprehensive considerations: China’s global lead in mobile payments and the digital yuan, RMB sovereignty and security, and the stability of its monetary and financial system.
With USD stablecoins spreading globally, international relations growing increasingly tense and complex, and monetary competition intensifying, their impact on the RMB’s innovation, national security, and China’s strategic goals of becoming a strong currency and financial power is significant and far-reaching. Thus, calm analysis and accurate early decision-making are critical—avoiding both indifference/hesitation and blind trend-following that could lead to di
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September PCE Data Tonight, Fed Faces Moment of Truth
**Wall Street Laser-Focused on Delayed September PCE Data (Fed’s Preferred Inflation Gauge)**
With this critical deadline approaching this Friday, December 5, Wall Street is laser-focused on the upcoming U.S. September Personal Consumption Expenditures (PCE) Price Index — the Federal Reserve’s preferred inflation gauge.
- Not just the first official inflation reading since late September, it’s the **lodestar** for whether U.S. stocks can escape recent volatility and chart their next direction.
- Delayed by the prior government shutdown, the report has left markets rife with uncertainty. Investors, analysts, and even Fed officials are waiting eagerly to cut through the economic fog.
### Key Data to Watch (8:00 PM ET Today)
- **Core PCE YoY**: Prior = 2.9% (no official forecast given, but markets are tuned to inflation trends).
- **Headline PCE YoY**: Expected = 2.8% (slight uptick from August’s 2.7% — would mark the highest since April 2024 if realized).
- **PCE MoM**:
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The EU is seeking to transfer cryptocurrency regulatory oversight to the European Securities and Markets Authority
On December 5, the European Commission announced plans to shift regulatory oversight of crypto firms to the European Union’s market watchdog as part of a push for “comprehensive integration” of the bloc’s financial markets. The Commission noted that putting crypto regulation under the European Securities and Markets Authority (ESMA)’s scope would boost regulatory effectiveness and smooth cross-border operations.
The proposal targets addressing decentralization challenges stemming from regulatory gaps across the EU’s 27 member states. Earlier, national regulators—including France’s AMF, Austria’s FMA, and Italy’s Consob—raised concerns about MiCA implementation and urged ESMA to step up oversight. The plan still requires negotiation and approval from the European Parliament and European Council.
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BlackRock deposited 1,385 BTC and 799 ETH into Coinbase
On December 5, per OnchainLens data, a BlackRock-linked crypto address transferred 1,385 BTC (valued at $1.263 billion) and 799 ETH (valued at $2.5 million) to Coinbase.
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Bitget AI Assistant GetAgent Comprehensive Upgrade: Smart Dialogue Engine Updated and User Benefits Synchronously Enhanced
**Bitget Launches Updates for AI Trading Assistant GetAgent**
On December 5, Bitget announced its AI-powered trading assistant GetAgent has successfully rolled out feature iterations and enhanced user benefits.
GetAgent now tailors responses to query context, delivering precise, fast answers or generating detailed analysis reports. Integrated with AI algorithms, real-time market data, and over 50 professional-grade MCP tools, it uses natural language interaction to analyze market trends intelligently—incorporating users’ position preferences to craft personalized trading strategies.
Additionally, the GetAgent membership program has been fully updated: all users now get increased daily query limits and expanded in-depth research quotas.
The upgrades aim to make intelligent decision-making more accessible to a broader user base, boosting digital asset management efficiency.
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