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On August 1st, Japans Ministry of Finance posted on the social media platform X that the Japanese monetary authorities have multiple tools at their disposal to meet market liquidity needs. These tools include, as appropriate, the use of the Federal Reserves Standing Repurchase Facility (FIMA), which accepts U.S. Treasury securities as collateral to provide temporary dollar liquidity. The Ministry of Finance stated, "We are prepared to utilize available tools as needed to support the orderly functioning of the market."August 1st - According to reports from the United States on July 31st, July this year is expected to be the hottest month on record in the continental United States. Meanwhile, a new "heat dome" is forming in the western United States, and the high temperatures are expected to continue. It is reported that as of July 29th, the average temperature in the United States this July was about 1.4 degrees Celsius higher than the average for the same period from 1991 to 2020. Although the final average temperature data for July will not be released until early August, media predictions suggest that this figure could break the record set in July 2012, making July this year the hottest month on record in the continental United States.Japans Ministry of Finance: Monetary authorities have a wide range of tools to address market liquidity needs.On August 1st, the South Korean National Assembly passed an amendment to the Criminal Procedure Act on July 31st, abolishing the prosecutors authority to conduct direct and supplementary investigations. This is another legislative measure in South Koreas push for reform of the prosecutorial system. The National Assembly passed the amendment with 175 votes in favor, 2 against, and 1 abstention. According to the amendment, the prosecutors office will no longer have the authority to conduct direct investigations, nor may it conduct supplementary investigations on its own. If a prosecutor believes a case requires further investigation, they can only request the judicial police to conduct supplementary investigations.August 1st - According to the Japan Meteorological Agency, a magnitude 5.8 earthquake struck off the coast of Aomori Prefecture, Japan, at approximately 11:48 AM local time today (August 1st). The maximum tremor was felt at intensity 4, and the epicenter was at a depth of 80 kilometers. There is no risk of a tsunami.

China Slams Illegal Websites and Accounts for Exaggerating BTC Returns

Alice Wang

Aug 10, 2022 14:20

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China is actively pursuing websites and social media accounts that are promoting cryptocurrencies illegally.


Cyberspace Administration of China (CAC), the nation's main internet censor, said on Tuesday that it has launched a cleanup effort to deal with unlawful bitcoin (BTC) ads that overstate potential investment returns.


The CPC Central Committee's decisions and deployments have been implemented by the Cyberspace Administration of China since the year's beginning, and various actions have been taken to deal with and clean up a number of illegal information, accounts, and websites that advertise and promote virtual currency.


In a note titled "Further Preventing and Handling Hype Risks in Virtual Currency Transactions," the CAC calls on internet platforms to step up efforts to combat fraudulent cryptocurrency advertisements.


12,000 illegal user accounts were shut down by Weibo and Baidu.


Weibo and Baidu, two behemoths of social media, have terminated 12,000 user accounts that were judged to be "illegal" as part of what the central cyber arm termed a "high-pressure assault on virtual currency transaction speculation."


The translation of the official statement said that the ejected accounts included those of @ICE Blizzard and @Coin Circle Baoye's creator.


The CAC has also removed over 51,000 false and unlawful messages that claimed it was simple to profit from Bitcoin investments.


In compliance with the legislation, the department shut down 989 Sina Weibo accounts, Baidu Tieba accounts, and WeChat public accounts altogether.


Additionally, the local information department has been directed to examine more than 500 corporate organizations, such as "chain nodes" and "venture capital circles," that are participating in such cryptocurrency advertising by the central internet.


The Cyberspace Administration of China will shut down 105 internet platforms, including "Bi Toutiao," which specializes in promoting virtual currency marketing and dissects cross-border currency speculation and virtual currency mining in lessons.


The Chinese Cyberspace Administration said that the next stage in preventing the dissemination of false and illicit financial information about cryptocurrencies would be collaboration with relevant agencies.


CAC did not specify which departments it would be working with, however.


China has been stricter with its cryptocurrency rules in recent years, and in 2021 it will completely outlaw cryptocurrency mining.

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