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August 28th - U.S. stocks closed Thursday with the Dow Jones Industrial Average up 0.2%, the S&P 500 up 0.7%, and the Nasdaq Composite up 1.57%. SK Hynix (SKHY.O) rose 2%, Tesla (TSLA.O) rose 2.6%, Nvidia (NVDA.O) rose 8.7%, and Broadcom (AVGO.O) rose 4%. The Nasdaq China Golden Dragon Index fell 0.74%, Baidu (BIDU.O) rose 4%, and Alibaba (BABA.N) fell 3%.According to the Financial Times, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) will release a new set of rules on Thursday.August 28th - According to sources, US President Trump is expected to meet with US refiners and fuel retailers next week to discuss measures to lower gasoline prices. With the November midterm elections approaching, the Trump administration is seeking to alleviate the pressure on consumers caused by the Iran war. Companies expected to attend include refiners such as Valero Energy, Marathon Oil, and PBF Energy, as well as major fuel retailers. Republicans are trying to maintain their slim majority in Congress in the November elections. Currently, the price of regular gasoline in the US remains above $4 per gallon, about $1 higher than a year ago. The Iran war has disrupted global energy markets and led to tighter supplies of gasoline and other refined products. Major US oil companies and refiners reported strong second-quarter results. These results have drawn criticism from Trump, who believes that oil companies benefiting from price increases should do more to reduce costs for consumers. He has publicly pressured major oil producers and refiners to lower prices.On August 28th, it was learned that a U.S. federal judge lifted a nationwide injunction on August 26th against new rules for mail-in ballots issued by the U.S. Postal Service. The new rules required states to redesign ballot envelopes and upload voter lists to the Postal Service; if these requirements were not met, the Postal Service could refuse to mail the ballots. It is understood that the U.S. government had repeatedly proposed deploying federal law enforcement officers or Immigration and Customs Enforcement (ICE) personnel near polling stations, and the Department of Justice was also preparing to deploy approximately 1,000 election watchdogs. However, many of these measures still face legal and political obstacles.U.S. Treasury Department: The United States has granted Venezuela general licenses related to the oil and gas industry, gold, Venezuelan minerals, mining operations, and PDVSA (petroleum company).

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.

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