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The post China Launches Cross-Border QR Code Payment Trial appeared on BitcoinEthereumNews.com. Key Points: Main event involves China initiating a cross-border QR code payment trial. Alipay and Ant International are key participants. Impact on financial security and regulatory focus on illicit finance. China’s central bank, led by Deputy Governor Lu Lei, initiated a trial of a unified cross-border QR code payment gateway with Alipay and Ant International as participants. This pilot addresses cross-border fund risks, aiming to enhance financial security amid rising money laundering through digital channels, despite muted crypto market reactions. China’s Cross-Border Payment Gateway Trial with Alipay The trial operation of a unified cross-border QR code payment gateway marks a milestone in China’s financial landscape. Prominent entities such as Alipay and Ant International are at the forefront, participating as the initial institutions in this venture. Lu Lei, Deputy Governor of the People’s Bank of China, highlighted the systemic risks posed by increased cross-border fund flows. Changes are expected in the dynamics of digital transactions, potentially enhancing transaction efficiency while tightening regulations around illicit finance. The initiative underscores China’s commitment to bolstering financial security amidst growing global fund movements. “The scale of cross-border fund flows is expanding, and the frequency is accelerating, providing opportunities for risks such as cross-border money laundering and terrorist financing. Some overseas illegal platforms transfer funds through channels such as virtual currencies and underground banks, creating a ‘resonance’ of risks at home and abroad, posing a challenge to China’s foreign exchange management and financial security.” — Lu Lei, Deputy Governor, People’s Bank of China Bitcoin and Impact of China’s Financial Initiatives Did you know? China’s latest initiative echoes the Payment Connect project of June 2025, furthering real-time cross-boundary remittances and expanding its influence on global financial systems. As of September 17, 2025, Bitcoin (BTC) stands at $115,748.72 with a market cap of $2.31 trillion, showing a 0.97%…

The post Bank of England keeps interest rate steady at 4% as expected appeared on BitcoinEthereumNews.com. The Bank of England (BoE) left its benchmark interest rate unchanged at 4%, following the conclusion of the September monetary policy meeting on Thursday. The rate decision aligned with the market expectations. The voting composition showed the expected 7-2 split on the Monetary Policy Committee (MPC), with two members, Dhingra and Taylor, voting in favor of a 25 basis points (bps) cut. Follow our live coverage of the BoE policy announcements and the market reaction. Key takeaways from BoE Monetary Policy Statement BoE policymaker Pill voted to maintain QT pace at 100 bln Pound Sterling (stg). BoE policymakers vote 7-2 to slow quantitative tightening pace to 70 bln stg a year from 100 bln stg. BoE policymaker Mann voted to slow QT pace to 62 bln stg. To hold two 775 mln stg short-dated gilt auctions, two 750 mln stg medium-dated gilt auctions and one 550 mln stg long-dated gilts auction in Q4 2025. 2025/26 gilt sales will be split 40:40:20 between short-, medium- and long-maturity buckets in initial proceed terms (2024/25 had equal split) “We’re not out of the woods yet so any future rate cuts will need to be made gradually and carefully” New AT target means MPC can continue to reduce size of balance sheet while continuing to minimise impact on gilt market “A gradual and careful approach to the further withdrawal of monetary policy restraint remains appropriate”. Keeps phrase: monetary policy not on pre-set path. UK CPI forecast to peak at 4% in September 2025 (August forecast to peak at 4% in Sept). Staff forecast Q3 GDP to increase by around 0.4% QoQ (August forecast: Q3 +0.3%). Rise in firms’ social security contributions appears to be delaying the reduction in total labour costs growth until 2026. Impact of US tariff rates on the world economy could…

The post XAU/USD declines sharply to near $4,400 as Middle East fears revive appeared on BitcoinEthereumNews.com. Gold price (XAU/USD) is down 2% to near $4,410