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The main contract for the container shipping index (European route) reversed its gains and fell during the day, with the current decline widening to 1.97% at 3779 points, after rising by more than 3% earlier.June 2nd – The inaugural meeting of the Express Service Standards Committee (ISO/TC344/SC2) of the International Organization for Standardization (ISO) Technical Committee on Innovative Logistics (ISO/TC344) was held today in Hangzhou, Zhejiang Province. Zhao Chongjiu, Director of the State Post Bureau; Deng Zhiyong, Vice Minister of the State Administration for Market Regulation and Director of the Standardization Administration of China; and He Zhongwei, Vice Governor of Zhejiang Province, attended the meeting and delivered speeches. Chen Kai, Vice Minister of the State Post Bureau, presided over the meeting. In June 2024, at the suggestion of the State Post Bureau, the Standardization Administration of China submitted a proposal to the International Organization for Standardization (ISO) to establish an Express Service Technical Committee. After more than a year, on July 11, 2025, the ISO, following review and voting procedures, decided to establish the Express Service Subcommittee under the Technical Committee on Innovative Logistics (ISO/TC344), with its secretariat located in China.On June 2nd, local time, a bear appeared and attacked people in an office building and nearby residential area in Sasakino, Fukushima City, Fukushima Prefecture, Japan, injuring four people. The number of bear attacks on people in Japan has been increasing in recent years. Preliminary statistics released by the Japanese Ministry of the Environment in early April this year showed that from early April last year to the end of March this year, a total of 238 people were attacked by bears nationwide, of whom 13 died, both figures being record highs. Current data from the Japanese government estimates that there are more than 19,000 Asiatic black bears in the Tohoku region and 11,600 brown bears in Hokkaido.Tencent Holdings (00700.HK) continued its upward trend, with intraday gains widening to 4%. This followed earlier reports that Tencent was close to launching a WeChat AI assistant.June 2nd - According to foreign media reports, Japanese Prime Minister Sanae Takaichi, in her third phone call with Iranian President Pezechzian, called for safe passage for all ships, regardless of nationality. After a 15-minute call with Pezechzian, Takaichi told reporters, "I strongly urge again that all ships, including those from Japan and other Asian countries, should pass freely and safely through the Strait of Hormuz as soon as possible." In the call with Pezechzian, Takaichi reiterated Japans position that easing tensions through dialogue is crucial. She expressed hope that Iran would continue to demonstrate maximum flexibility to reach an agreement as quickly as possible. Resource-poor Japan is highly dependent on Middle Eastern oil supplies. The longer the Middle East crisis persists, the greater the potential impact on the Japanese economy.

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.