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1. According to Longzhong Information, as of the week ending July 6, the total commercial inventory of pure benzene at Jiangsu ports fell to 59,800 tons, a decrease of 14,200 tons week-on-week, a drop of nearly 20%. This absolute amount is a sharp decrease of 114,200 tons compared to 174,000 tons in the same period last year, a year-on-year decrease of 65.63%. 2. Sources say Germany plans to establish an emergency natural gas reserve, with a scale of up to 1.5 billion euros, plus operating costs. 3. Monitoring by the National Grain and Oil Information Center shows that as of July 3, 2026, the commercial inventory of the three major domestic oils has increased significantly to 2.18 million tons, an increase of 70,000 tons week-on-week. The national major oil mills imported soybean inventory is 7.7 million tons, an increase of 280,000 tons week-on-week; domestic soybean oil commercial inventory is 1.08 million tons, an increase of 10,000 tons week-on-week; and palm oil is 760,000 tons, an increase of 50,000 tons week-on-week. 4. According to the Ejin Horo Banner Mine Safety Supervision Bureau, the Ejin Horo Banner Haoda Coal Co., Ltd. has been ordered to suspend production for rectification due to safety hazards. 5. Market news: BHP Billiton has received approval to launch a $15 billion copper mine expansion project in Chile. 6. Mysteel satellite data shows that from June 29 to July 5, 2026, the total iron ore inventory at seven major ports in Australia and Brazil reached 14.394 million tons, an increase of 421,000 tons compared to the previous period. Port inventories continue to accumulate, and the current inventory level has risen to a high level for the year. 7. Shanghai Gold Exchange: Agreed to admit Hong Kong Precious Metals Central Clearing System Limited as an international member of the Shanghai Gold Exchange. 8. According to CCTV, the Guangxi Zhuang Autonomous Region Hydrological Center upgraded its flood warning to red at 7:00 AM on the 7th. Riverside areas in Guigang, Nanning, Wuzhou, Qinzhou, Beihai, Fangchenggang, Yulin, and Guilin should strengthen precautions and take timely evacuation measures. 9. According to the Shanghai Securities News, Pan Gongsheng, Governor of the Peoples Bank of China, stated that he supports Hong Kong in launching offshore RMB treasury bond futures and supports Hong Kong in building a comprehensive financial trading platform.JPMorgan Chase raised its price target for Eli Lilly (LLY.N) from $1,300 to $1,400.The yield on Japans 5-year government bonds fell 1.0 basis point to 1.930%.The yield on Japans 20-year government bonds fell 4 basis points to 3.765%, while the yield on Japans 30-year government bonds fell 7 basis points to 4.005%.The yield on Japans 30-year government bonds fell 5 basis points to 4.025%.

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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