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The yield on the UK 30-year government bond continued its decline, falling 9 basis points on the day to 5.193%.On July 1, TrendForces latest memory chip market observation pointed out that DDR4 prices may peak and fall in the fourth quarter. TrendForce said that the recent strong rise in DDR4 is mainly due to suppliers output cuts and the market rush, but this momentum may not be able to continue until the end of the year. Its channel survey shows that as prices enter the high-end range, suppliers are gradually releasing inventory, and the overall supply is expected to gradually improve in the fourth quarter. For DDR5, the current price trend is stable, and the quarterly price increase in the second and third quarters of 2025 is estimated to be between 3% and 8%. However, some second-tier OEM manufacturers reported that bargaining is difficult because suppliers expect prices to continue to rise and there is limited room for negotiation.Spanish Automobile Manufacturers Association (ANFAC): Tesla (TSLA.O) new car registrations in Spain increased by 60.7% year-on-year to 2,632 units in June.On July 1, Canadian Solar said on an interactive platform that the companys capacity layout in the United States is progressing steadily. The 5GW module factory has successfully passed the running-in period and is expected to reach the designed capacity in the second half of this year. This years output is estimated to be more than 3GW. The company will meet the development of its US business through a diversified supply chain layout.July 1st, the dollar fell to its lowest level since February 2022 due to uncertainty in US trade and fiscal policies. The reciprocal tariffs suspended by US President Trump will end on July 9. Meanwhile, the US Senate is holding a marathon vote on Trumps tax and spending bill. Investors have become more cautious ahead of the release of key US job market data this week. These data include JOLTs job vacancies data to be released on Tuesday and the non-farm payrolls report to be released on Thursday. Commerzbank analyst Volkmar Baur said in a report that data far below expectations will increase the likelihood of a rate cut by the Federal Reserve in July and could further weaken the dollar.

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.