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On May 24th, news circulated in the market that Yirendai, a leading domestic loan facilitation institution, is conducting a "orderly liquidation" of its fixed-income-like products. An investor contacted Yirendais official customer service for verification, and the information was confirmed to be true. The platforms official customer service stated that after careful consideration and reporting to relevant departments, the company decided to begin an orderly liquidation of fixed-income-like products starting May 22nd. Currently, the company is compiling data, and after the plan is finalized and reported to the relevant authorities, it is expected to announce the orderly liquidation plan within 4 to 6 weeks and sign agreements with each customer.French President: France condemns Russias use of Hazel missiles to attack Ukraine.According to Interfax news agency, the Russian Ministry of Defense stated that the attack targeted a Ukrainian ground forces command post and the main intelligence directorate of the Ukrainian Ministry of Defense.On May 24, the State Flood Control and Drought Relief Headquarters Office and the Ministry of Emergency Management organized a joint consultation involving multiple departments to analyze and assess the development of heavy rainfall, deploy flood control and disaster relief work in key areas, and provide point-to-point guidance to Chongqing Municipality on disaster relief and response in Yongchuan District. At 12:00 on May 24, the State Flood Control and Drought Relief Headquarters activated a Level IV emergency response for flood control in Anhui Province, while maintaining the Level IV emergency response for Hunan, Hubei, and Chongqing. The State Flood Control and Drought Relief Headquarters Office dispatched a working group to Chongqing to assist and guide flood control and disaster relief efforts.According to Saudi media outlet alhadath: Israeli officials said that Trump confirmed to Netanyahu that Irans nuclear program must be dismantled.

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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