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On Thursday, September 10, the Hong Kong Hang Seng Index opened down 289.78 points, or 1.15%, at 24,985.18; the Hong Kong Hang Seng Tech Index opened down 61.38 points, or 1.39%, at 4,359.41; the H-share Index opened down 99.56 points, or 1.19%, at 8,269.49; and the Red Chip Index opened down 36.28 points, or 0.85%, at 4,227.13.Hang Seng Index futures opened 1.04% lower at 24,915 points, a discount of 353 points.According to the Wall Street Journal: US President Trump took to the stage to present the Republican platform for the midterm elections.September 10th – This morning (September 10th), a roundtable meeting between the National Development and Reform Commission (NDRC) and senior executives of US multinational corporations operating in China was held in Beijing, themed "Embracing the 15th Five-Year Plan and Jointly Seeking New Development." Representatives from over 60 US companies operating in China, representing sectors such as technology computing power, industrial energy, and consumer medicine, including Amazon Web Services, NVIDIA, Dell, and Honeywell (China) Co., Ltd., attended the meeting. At the meeting, relevant departments of the NDRC introduced the policy considerations related to the 15th Five-Year Plan, the situation of my countrys foreign investment policies during the 15th Five-Year Plan period, the implementation results of the new round of large-scale equipment renewal and consumer goods trade-in policies, and the spirit of policies related to boosting consumption. Relevant officials introduced the development of Beijings economic and social development and promoted Beijings investment environment. Senior representatives of multinational corporations also delivered speeches and exchanged views.The main liquefied petroleum gas (LPG) contract surged by 200.00 yuan during the day, currently trading at 6969.00 yuan/ton, an increase of 2.95%.

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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