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Futures News, August 14th: Change Rate: According to JLC Network Technologys calculations, as of the tenth working day on August 14th, the average price of benchmark crude oil was $82.64/barrel, with a change rate of -6.15%. Domestic retail prices of gasoline and diesel were reduced by 230 and 220 yuan/ton respectively. 1. Shandong Local Refineries: Market purchases increased yesterday, but local refineries have not yet achieved a balance between production and sales of gasoline and diesel. Coupled with the halt in the rise and subsequent fall of international crude oil prices, this created downward pressure, and it is expected that the price of refined oil products from Shandong local refineries will be under pressure and fall by 50-100 yuan/ton today. 2. East China: On Friday, crude oil prices stopped rising and fell back, and the window for price reductions opened. There was little support from news. It is expected that the prices of gasoline and diesel from major oil companies in East China will be under pressure today, with weak end-user demand. Industry players are waiting for the price reductions to be implemented, resulting in sluggish buying and selling. 3. South China: On Friday, crude oil closing prices fell, and the window for retail price reductions opened. With the negative impact of news, it is expected that the price of gasoline and diesel from major oil companies in South China will maintain a stable to slightly downward trend today. The market is observing and waiting for further developments, and new orders are decreasing. 4. North China: On Friday, crude oil prices fell and the window for retail price reductions opened. It is expected that gasoline and diesel prices in North China will face downward pressure. While the impact of the typhoon is gradually subsiding, the current weak demand is unlikely to improve. Traders are cautious about entering the market for immediate needs, resulting in a subdued trading atmosphere. 5. Central China: On Friday, crude oil prices stopped rising and fell back, and the window for retail price reductions opened. News points to a bearish outlook. It is expected that gasoline and diesel prices in Central China will be under pressure and consolidate today. Traders are observing the market to reduce inventory, and the market awaits the implementation of price adjustments.The main platinum contract fell by 2.00% during the day, currently trading at 423.50 yuan/gram.At the opening of the morning session, domestic futures contracts showed mixed performance. Coking coal, soybean meal, pulp, live hogs, glass, and soda ash rose by more than 1%. On the downside, palladium fell by nearly 4%, silver fell by more than 2%, and container shipping to Europe, gold, TSR20 rubber, low-sulfur fuel oil (LU), and PTA fell by more than 1%.Australian Treasurer Chalmers: Ian will step down from the Reserve Bank of Australias Monetary Policy Committee, and Melinda Cirento has been appointed as a member of the committee for a five-year term, beginning on September 1 this year.Spot gold and silver prices have fallen somewhat. A chart provides a quick overview of the pre-market conversion prices of gold and silver between domestic and international markets.

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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