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On June 26, a container ship was attacked in the Strait of Hormuz on Friday, prompting some shipowners to reassess their evacuation plans, but traffic in both directions on this crucial waterway continued. Tanker tracking data showed two fully loaded tankers leaving the Persian Gulf, while four empty Very Large Crude Carriers (VLCCs) were sailing off the coast of Oman, along the southern route managed by Oman and coordinated with the United States. Meanwhile, some vessels opted for the northern route on the Iranian side. Administration of the Strait of Hormuz remains a focal point of the US-Iran dispute. The US stated this week that Iran must maintain free passage through the strait if it wants a permanent peace agreement. Secretary of State Rubio warned during a visit to Gulf states that if Iran charges fees, other countries might follow suit, leading to chaos. The US is pressuring Oman, which also borders the strait, not to establish a joint toll system with Iran. Omans stance remains unclear: on Tuesday, it issued a joint statement with Iran stating it would discuss passage management and related costs, but Rubio said on Thursday that Oman assured him it did not support tolls.June 26 - The dollar edged lower as markets lowered their expectations for a Federal Reserve rate hike. Thursdays data showed the personal consumption expenditures price index (PCE) rose 0.4% month-over-month, below economists forecasts of 0.5%. Deutsche Bank analysts said in a report that this "has somewhat dampened the increasingly heated Fed rate hike narrative in recent weeks." They stated that while Fed officials remain cautious about the inflation outlook, there is growing speculation that the Fed may not need to raise rates at all this year.June 26 – The seventh meeting of the Joint Committee on the China-Korea Free Trade Agreement (FTA) was held in Beijing on June 25. Li Chenggang, Vice Minister of Commerce and International Trade Representative, and Yeo Han-koo, Minister for Trade Negotiations of the Ministry of Trade, Industry and Energy of the Republic of Korea, co-chaired the meeting. Both sides reviewed the implementation of the China-Korea FTA, highly praised its contribution to promoting the integration of industrial and supply chains between the two countries and driving economic growth, and conducted in-depth communication on specific issues of concern regarding the implementation of the FTA. The China-Korea FTA officially came into effect on December 20, 2015. To date, both sides have implemented twelve rounds of tariff reductions under the agreement, contributing to the continued expansion of bilateral trade. The two countries are currently advancing the second phase of negotiations on the China-Korea FTA, aiming to further enhance the liberalization and facilitation of trade in services and investment between the two countries.Statoil: This decision reflects a reassessment of strategic direction, with a further focus on the integrated electricity market.Statoil: Decides to end its offshore wind power business in Japan; Tokyo office to close by the end of 2026.

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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