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On August 15th, a 5.0 magnitude earthquake struck Granada province in southern Spain. Local authorities stated that no casualties have been reported. The Andalusian regional government has activated its emergency response plans early warning phase to prepare for potential secondary disasters and aftershocks. Previously, strong tremors were felt in the affected area and surrounding provinces, prompting some residents to evacuate outdoors. Emergency services subsequently received multiple reports of minor cracks in buildings and falling debris, and safety inspections and damage assessments were rapidly launched after the earthquake.Irans Communications Minister: More than 500 telecommunications sites were attacked during the war, and some facilities were hit again after being repaired and service restored.On August 15th, it was announced that the 16th issue of Qiushi magazine, to be published on August 16th, will carry an important article by Xi Jinping, General Secretary of the CPC Central Committee, President of the Peoples Republic of China, and Chairman of the Central Military Commission, entitled "Improving Disaster Prevention, Mitigation, and Relief Capabilities." The article emphasizes that my country has a vast territory, complex geography, and diverse climate, making it prone to frequent natural disasters. Since the 18th CPC National Congress, the CPC Central Committee has consistently treated disaster prevention, mitigation, and relief as a major issue concerning the safety of the people and national security, making numerous deployments in areas such as conceptual transformation, institutional reform, system construction, and capacity building. It has led the vast number of cadres and the masses to overcome a series of major natural disasters, minimizing casualties and property losses to the greatest extent possible, with achievements recognized worldwide. To effectively carry out disaster prevention, mitigation, and relief work, it is essential to uphold the Partys overall leadership, adhere to the principle of putting people and their lives first, respect the laws of nature, prioritize prevention, persist in reform and innovation, maintain a systematic approach, and uphold social co-governance. These valuable experiences must be upheld and effectively utilized, and continuously enriched and developed in light of new realities.August 15th - According to the Ministry of Emergency Management, affected by Typhoon Dolphin (No. 13 of this year) and recent heavy rainfall, Taihu Lake has experienced significant basin-wide flooding. It is predicted that the water level of Taihu Lake will continue to rise slowly in the later period. From August 15th to 16th, parts of eastern and southern Zhejiang Province will experience heavy rain, with some areas experiencing torrential rain. In accordance with the "National Flood and Drought Relief Emergency Plan" and relevant regulations, the State Flood Control and Drought Relief Headquarters and the Ministry of Emergency Management decided to upgrade the flood control emergency response for Jiangsu Province from Level IV to Level III at 12:00 on August 15th, and activate a Level IV flood control emergency response for Zhejiang Province.On August 15th, Mexican President Jacques Sinbaum stated at a morning press conference on August 14th that the US decision to revoke the visa of the son of former Mexican President López Obrador was politically motivated and constituted interference in Mexicos internal affairs. Sinbaum emphasized that Mexico must remain steadfast in the face of such events, and that Mexico and the US should maintain a mutually respectful bilateral relationship. In fact, the US revoked the visas of at least six Mexican ruling party officials in 2026 alone. Simultaneously, citing involvement in drug trafficking to the US, the US requested the extradition of four current governors, mayors, and members of parliament, as well as six former officials, to the US for trial. The Mexican government rejected the US request, citing insufficient evidence from the US.

California’s DFPI Investigating Multiple Crypto Lending Companies

Jul 14, 2022 14:28

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The California Department of Financial Protection and Innovation (DFPI), which regulates the activities of state-licensed financial institutions such as banks and premium finance businesses, has announced that it is investigating whether businesses that suspended customer withdrawals and transfers broke any laws.


More specifically, the government is looking at a number of cryptocurrency businesses with U.S. headquarters after some reputable lenders permanently stopped allowing transfers and withdrawals between user accounts.

Accounts for crypto assets that pay interest

In particular, the Department of Financial Protection and Innovation is concentrating on "multiple companies" that provide customers with interest-bearing crypto asset accounts, also known as crypto-interest accounts, as well as service providers who "may not have adequately disclosed risks customers face when they deposit crypto-assets onto [lenders'] platforms."


To ascertain if they are breaking any laws that fall within the purview of the Department is the main goal of the inquiry.


The DFPI previously emphasized that providers of crypto-interest accounts are not subject to the same regulations and safeguards as banks and credit unions, which is particularly concerning in light of some platforms' restrictions on customers' ability to withdraw money from and transfer funds among their accounts.


Because of this, the agency has advised customers to proceed with "great care" before answering any inquiries about investments or financial services.


Also pointing to two cease and desist orders it recently sent to BlockFi and Voyager Digital to suspend their sales in California, DFPI has shown how certain crypto-interest account providers have been promoting unregistered securities.

securing customer property

Following Voyager Digital, the second well-known cryptocurrency business to file for Chapter 11 bankruptcy in recent weeks, DFPI made its statement. The Toronto-based company calculates that it has between $1 and $10 billion in assets, over 100,000 creditors, and liabilities of the same amount.


According to Voyager Digital, the action is a part of a "Plan of Reorganization" that intends to provide customers access to their accounts once again. Customers will have the option of receiving cryptocurrency, money recovered from Three Arrows Capital, common shares in the newly reorganized business, and Voyager tokens.


Due to worries about liquidity, Celsius (CEL) has stopped withdrawals and transfers since June 12. There are rumors that the management of the firm has been discussing Chapter 11 bankruptcy with attorneys.


As it faces with the potential of bankruptcy, the business is presently seeking restructuring guidance from the advising firm Alvarez & Marsal.


Additionally, the turbulent market circumstances last week caused the Singapore-based cryptocurrency platform Vauld to stop operations. The business instantly halted all trading, deposits, and withdrawals, and said that, up until further notice, it would only accept client deposits for its collateralized loans product.


Currently, numerous platforms have had client money frozen for many weeks while the future of their depositors' assets is still unknown.