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May 27th - British household energy bills are set to see their biggest increase since 2023 due to the war with Iran pushing up wholesale gas and electricity prices, further exacerbating inflationary pressures already weighing on the UK economy. The UK energy regulator, Ofgem, announced on Wednesday that the energy price cap will be raised by 13% to £1862 from July 1st. This price cap is updated quarterly, and the previous pricing used market data prior to the escalation of the Middle East conflict; therefore, this adjustment is the first to fully reflect the impact of the recent turmoil in the Middle East. Since the start of the conflict, UK near-month gas futures prices have risen by over 40%, while electricity contract prices have risen by nearly a third over the same period. Energy consultancy Cornwall Insight predicts that UK energy bills will rise again in October, warning that even if the conflict ends quickly, prices will struggle to return to April levels due to damaged infrastructure and prolonged energy supply disruptions.Both WTI and Brent crude oil prices fell by more than 2.00% intraday, currently trading at $94.27 per barrel and $94.57 per barrel, respectively.On May 27th, the National Energy Administration officially released a list of 51 high-value "AI+" energy scenarios. These 51 scenarios include intelligent emergency response to severe convective disasters along important power transmission lines, intelligent diagnosis and smart operation of new power distribution networks, intelligent operation optimization of large-scale vehicle-grid interaction, and intelligent operation of multi-energy complementary clean energy bases. By sector, these 51 high-value scenarios cover eight major areas, including "AI+" power grid, "AI+" new energy, "AI+" hydropower, and "AI+" thermal power.Euro Stoxx 50 futures rose 0.35%, German DAX 30 futures rose 0.31%, French CAC 40 futures rose 0.47%, and UK FTSE 100 futures fell 0.11%.Ofgem (UKs Office for the Gas and Electricity Markets) says that from July onwards, electricity price increases will be lower than gas price increases – a situation different from that during the energy crisis.

Australian Regulatory Body Reveals 4-Years Crypto Policy Roadmap

Cory Russell

Apr 22, 2022 09:55


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The Objective Is to Complete the Blueprint by 2025.

The Russian Finance Ministry has unveiled a law to regulate cryptocurrency.


The Australian Prudential Regulation Authority (APRA) released its objectives and policy roadmap for crypto risk management today.


The regulatory authority will be looking at crypto assets and all of the risks that come with investing in them, according to this.

Australia Examines the Dangers of Cryptocurrency

ARPA announced that it will begin with risk management requirements for all regulated businesses engaged in cryptocurrency-related activities as soon as possible.


Before participating in operations involving crypto-assets, the regulatory body requires all crypto-related firms to complete proper due diligence and a full risk assessment, according to the regulatory body. They must also have measures in place to minimize any hazards that may arise.


They should also follow all Australian Securities and Investments Commission conduct and disclosure regulations (ASIC).


In addition to this, the Prudential Regulation Authority is working to build a broad crypto regulatory framework. "APRA is creating the longer-term prudential framework for crypto-assets and associated activities in Australia in cooperation with other regulators abroad, to ensure uniformity in approach," according to the release. 


The Basel Committee is consulting on the prudential approach for bank exposures to crypto-assets for authorised deposit-taking institutions (ADIs). 3 This will serve as the foundation for globally recognized minimum ADI criteria, as well as a starting point for prudential expectations in other APRA-regulated businesses."


ARPA has devised a four-year strategy, beginning in 2022, in which it will smooth out all of the kinks in crypto-assets and other operational hazards.

Australia has decided to join the band

While no particular crypto regulatory legislation has been presented in Australia, the country is on the verge of enacting one. Meanwhile, some nations, including as Russia, have already taken steps in this direction, with the Ministry of Finance's draft crypto laws.


The law would establish new regulations for the trading and mining of cryptocurrencies (Bitcoin, Ethereum, Litecoin, and others), with the operators of exchanges and digital trading platforms being licensed and regulated by a Russian government authority.

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