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On August 21, Iranian Parliament Speaker Ghalibaf stated, "Just as Iran and Iraq defeated the United States in war and made it taste a crushing defeat, the two countries will continue to stand at the forefront of confronting hegemony, and this path will continue."On August 21st, it was learned from the National Standardization Administration that my countrys proposed international standard, "Application Guidelines, Test Items and Conditions for Solid-State Rechargeable Lithium-ion Batteries for Electric Vehicle Drive," has recently been successfully approved by the International Electrotechnical Commission (IEC). This standard is the worlds first international standard in the field of solid-state batteries. Solid-state batteries are considered an important development direction for next-generation lithium-ion batteries. Compared with traditional liquid batteries, they offer longer range, higher safety, and more stable performance. This international standard, building upon my countrys accumulated experience in solid-state battery research and development, will clearly define the testing specifications for solid-state batteries. This international standard will provide a unified "benchmark" for global automakers in the research and production of solid-state batteries, helping to accelerate the adoption of safer, longer-range electric vehicles and promoting the rapid development of the new energy industry.August 21 – According to Irans Mehr News Agency, Major General Abdullahhi, Chief of the General Staff of the Iranian Armed Forces, stated: "The achievements of the Ministry of Defense over the past few years have transcended military equipment production itself; they represent a deterrent revolution in the defense industry. The Iranian Armed Forces are fully, intelligently, and modernly prepared in all domains, including land, sea, air, air defense, space, and cyberspace, and will respond to any miscalculation by the enemy, as well as traditional and new threats, with a revolutionary, forceful, and devastating response that will leave the adversary regretting."August 21 – German business activity expanded slightly in August, with a rebound in manufacturing offsetting a faster decline in service sector activity. S&P Global Germanys composite PMI fell to 51.0 in August from 51.3 in July, while economists had predicted a reading of 51.3, unchanged from the previous month. The manufacturing PMI rose to 54.1 from 52.2 in the previous month, a 51-month high. Service sector activity weakened further, with the services PMI falling to 48.5 from 49.8, a three-month low and marking the fifth consecutive month of decline, the fastest drop since May. Phil Smith, deputy director of economics at S&P Global Market Intelligence, said, "The manufacturing recovery has regained momentum after showing signs of stalling in the second quarter. Although the service sector continues to drag on economic growth, new business rebounded slightly for the second consecutive month, and employment in the sector rose again, suggesting that the economic situation may soon improve."The Chief of Staff of the Iranian Armed Forces stated: "We will respond to any miscalculation by our adversaries, as well as traditional and new threats, with a revolutionary, tough, regrettable, and devastating response."

G20 Finance Regulator to Propose ‘Robust’ Crypto Framework by October

Jimmy Khan

Jul 12, 2022 14:28

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The Financial Stability Board (FSB) released a statement on July 11 about the global oversight and regulation of crypto asset activity.


In order to push through a framework, the regulator cited the current market instability, inherent volatility, and structural weaknesses. Additionally, it admitted that there was a "growing interconnectivity" between cryptocurrencies and the established financial system.


The FSB is an organization made up of central bankers, treasury employees, and regulators from G20 nations.


To guarantee that "crypto-assets are subject to effective regulation and oversight," it was added. The G20 finance ministers and governors of the central banks will get a report from the regulatory body in October.

removing crypto

The decision was made after a number of significant crashes that have been labeled a "crypto contagion." Numerous well-known cryptocurrency lending firms, including Celsius, Voyager Digital, Three Arrows Capital, and BlockFi, have had liquidity challenges as a result of the collapse of the Terra ecosystem. The FSB did not specifically identify them, however.


In February, the FSB released a risk assessment on cryptocurrencies that outlined its worries over the asset class's rapid expansion.


It was claimed that "crypto-asset operations carrying risks comparable to conventional financial activities are subject to the same regulatory results" under a workable regulatory framework. Accordingly, it will govern cryptocurrency exchanges, brokers, and issuers in a manner similar to how banks do. It may also try to cram cryptocurrency within the rules that G20 nations already have in place for conventional banking.


However, it did clarify that in order to fully use the potential advantages of its underlying technology, crypto assets' "unique characteristics" would be taken into consideration.


The Financial Stability Board (FSB) said that it will work with the Financial Action Task Force (FATF) to regulate and oversee stablecoins and other "unbacked" crypto assets. Stablecoins were particularly named. In addition, it stated that a stablecoin "needs to be held to high regulatory and transparency standards, maintain at all times the reserves that preserve stability of value, and meet relevant international standards." It was stated that stablecoins pose significant financial risks if they are left unregulated.


Decentralized finance's "financial stability" would also be investigated by the FSB (DeFi).


The action comes in response to the European Union's effort to impose regulations on the asset class via the Markets in Crypto-Assets (MiCA) legislative framework, which was unveiled earlier this month.

Crypto Markets are declining (Again)

With another decline of 4.4 percent, the cryptocurrency markets have resumed their steady slide lower. As a consequence, from its $3 trillion high in November, the overall market value has decreased to $925 billion, or 70%.


At the time of writing, Ethereum (ETH) had down 5.4 percent to $1,091 while Bitcoin (BTC) had fallen 3.2 percent on the day to $19,900.