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On May 13, the Indonesian central bank pledged "precise intervention" in the foreign exchange market after the rupiah fell to a record low. Bank Indonesia Senior Deputy Governor Destry Damayanti stated on Tuesday evening, "Bank Indonesia is committed to continuing to participate in the market through spot transactions, onshore and offshore non-deliverable forward (NDF) transactions, and optimizing all monetary policy tools to alleviate pressure on the rupiah." She stated that high oil prices and increased domestic demand for US dollars to repay foreign debt, repatriate dividends, and pay for Islamic pilgrimages to Saudi Arabia are putting pressure on the rupiah. "Bank Indonesia expects these seasonal factors to gradually subside and push the rupiah back to its fundamental level." However, she did not mention specific exchange rate levels. She also stated that foreign capital inflows into Bank Indonesia rupiah securities and government bonds are improving. The rupiah fell to a record low of 17,525 rupiah to the US dollar on Tuesday, and has fallen nearly 5% this year, making it one of the worst-performing currencies among emerging markets.On May 13, Samsung Electronics announced that it will begin sampling next-generation CXL 3.1 standard memory modules (CMM-D) to major server and data center manufacturers in the third quarter. Samples are planned for delivery to these manufacturers, and mass production preparations, including finalizing production scale and fourth-quarter production plans, will commence after obtaining quality certification from customer manufacturers.Samsung Electronics: The union’s decision regarding wage agreement negotiations is regrettable, as it has raised concerns among the company, employees, shareholders, and the public.Samsung Electronics: We will continue to work hard and persist in sincere dialogue until the very last moment to prevent the worst-case scenario from occurring.Samsung Electronics expressed regret over the breakdown of mediation negotiations. It will continue its efforts to negotiate with the union.

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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