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On July 20th, Tao Qing, spokesperson for the Ministry of Industry and Information Technology and Director of the Bureau of Operation Monitoring and Coordination, stated that the Ministry will accelerate the implementation of the "15th Five-Year Plan for the Development of the Pharmaceutical Industry," focusing its efforts on building "innovative medicine," "digital medicine," "inclusive medicine," and "open medicine," accelerating progress in the new field of biomedicine. The Ministry will continue to strengthen research on original technologies and key core technologies, leveraging artificial intelligence to comprehensively empower industrial development. It will also strengthen drug security for key groups such as the elderly, children, and patients with rare diseases, striving to ensure that every patient can access, afford, and effectively use medications, allowing more high-quality and innovative drugs made in China to benefit patients worldwide more quickly.On July 20th, Wang Weiming, Chief Engineer of the Ministry of Industry and Information Technology, stated that the next step is to comprehensively ensure stable industrial operation, strengthen technological breakthroughs, and promote the application of equipment, fully driving the transformation and upgrading of the equipment manufacturing industry. First, promote steady growth in the industry. Closely adhere to the "15th Five-Year Plan" national outline, implement various overall plans, and effectively publicize and implement the "15th Five-Year Plan for the Development of the Intelligent Connected New Energy Vehicle Industry." Continue to implement a new round of work plans for stabilizing growth in industries such as machinery, automobiles, and power equipment, comprehensively expanding high-quality supply and effective demand. Second, accelerate breakthroughs in key core technologies. Coordinate the reconstruction of the industrial base and major technological equipment breakthrough projects, strengthen strengths, address weaknesses, and enhance the foundation, achieving breakthroughs in a number of landmark products and continuously improving the resilience and security level of key industrial and supply chains. Third, accelerate the promotion and application of domestically produced equipment. Deepen the supply and demand matching in industries such as industrial machine tools, intelligent robots, and medical equipment, and accelerate the promotion and application of the first (set) of major technological equipment. Conduct activities to promote new energy vehicles in rural areas, continue to carry out pilot projects for the application, access, and road access of intelligent connected vehicles "vehicle-road-cloud integration," and activate the consumption potential of the bulk commodity market.Fitch warned that Thailands weak economy could pose a challenge to its large banks.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 3.2 occurred near Shizong County, Qujing City, Yunnan Province at 10:27 AM on July 20th. The final result is subject to the official rapid report.On July 20, Tao Qing, spokesperson for the Ministry of Industry and Information Technology and director of the Bureau of Operation Monitoring and Coordination, stated at a press conference held by the State Council Information Office that 38 innovative drugs were approved for marketing in the first half of this year, of which 31 were domestically produced, accounting for over 80%. The licensing of innovative drug technologies to foreign entities reached a new high, with total transactions exceeding US$100 billion in the first half of the year.

Owning Government Officials From Working on Regulation

Cory Russell

Jul 07, 2022 16:31

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Government personnel who actively engage in cryptocurrencies or are discovered to be in possession of any are prohibited from taking part in the creation of legislation and policies pertaining to cryptocurrencies, according to a recent directive from the US Office of Government Ethics.

With Some Exceptions

Additionally, the advisory notice made clear that even if the restriction is in effect, it only does so with a de minimis exception.


Owners are still able to invest in cryptocurrencies via publicly listed shares and mutual funds of businesses offering cryptocurrency and blockchain services because to this exception. Stablecoins and all other forms of cryptocurrency are included.


Government personnel are still permitted to acquire cryptocurrencies; but, doing so will prevent them from contributing to the development of crypto-related regulations.


They may still work on such initiatives, however, provided they divert their cryptocurrency holdings into other financial opportunities.


The notification went on to further describe the situation, saying "An employee may not engage in a specific topic if the employee understands that particular item might have a direct and predictable influence on the value of their cryptocurrency or stablecoins."


However, even for those who are permitted to invest in cryptocurrency-related stock index listings, a $50k threshold has been imposed over which the de minimis exemption is no longer applicable.

Crypto investors suffer a loss

The cryptocurrency market isn't in the greatest of health right now, even if the Biden administration is concentrating on creating laws for cryptocurrencies after the POTUS issued an executive order for the same.


The continued bearishness is having an impact on cryptocurrency firms as the overall market value of all cryptocurrencies is struggling to reach $1 trillion.


Voyager Digital has filed for Chapter 11 bankruptcy a week after stopping the platform's withdrawal, trading, and deposit services after Harmony almost went bankrupt a while back.


Thus, even without the US GOE's decision, it would only have taken these investors a little longer to leave the market, similar to how many other investors are already doing.