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July 22 (Futures News) – Crude oil continued its upward trend, boosting confidence among fuel oil market participants to support higher prices. Refineries increased supply and were reluctant to sell at low prices, but downstream traders moderately replenished their inventories and remained cautious in their purchases. Market buying activity was slow, and fuel oil prices steadily climbed. It is expected that todays trading will see some areas remain stable while others may see slight increases.Futures News, July 22nd - According to foreign media reports, Brent crude oil futures rose on Tuesday, hitting a five-week high, influenced by the US-Iran conflict and the Houthi threat to impose a naval blockade on Saudi Arabia. This will help boost the early performance of Malaysian crude palm oil futures. The El Niño phenomenon, which may threaten palm oil production in Southeast Asia, also provides support for prices. The Malaysian Meteorological Department stated that with the strengthening of El Niño, Malaysia will experience record-breaking high temperatures next year, raising concerns about declining palm oil production. However, weak demand for Malaysian palm oil exports will limit the markets rebound momentum.Spot gold touched the $4,100/ounce mark for the first time in a week.July 22 – According to the South Korean media outlet *Chosun Ilbo*, the South Korean government stated that it has held a meeting with major exporters to discuss stabilizing the exchange rate through strengthened government-business cooperation. Heo Jang, the Second Vice Minister of Strategy and Finance, held the meeting on July 21 at the Seoul Government Building with major exporters including Samsung Electronics, SK Hynix, Hyundai Motor & Kia, HD Korea Shipbuilding & Marine Engineering, Hanwha Marine, and Samsung Heavy Industries. Heo Jang stated that prior to the exporters meeting in June, the Korean won had depreciated to around 1550 won against the US dollar. However, with exporters increasing foreign exchange settlements, shipbuilding companies increasing forward foreign exchange sales, and capital inflows from SK Hynixs ADR issuance, the won has recently fallen back to the high range of 1400 won against the US dollar, alleviating the imbalance between foreign exchange supply and demand. He predicts that with continued strong semiconductor exports in the second half of the year, South Koreas foreign exchange supply and demand situation will further improve. Participating companies stated that they will further cooperate with the government to stabilize foreign exchange supply and demand, promote the continued improvement in the recent supply and demand trend, and contribute to maintaining stability in the foreign exchange market.July 22 – The Ministry of Industry and Information Technology announced today that the "Notice on Organizing and Carrying Out the Construction of National-Level Zero-Carbon Factories" has been officially released. my country will organize and carry out the construction of national-level zero-carbon factories and zero-carbon computing facilities. The notice clarifies the application requirements for national-level zero-carbon factories, selecting manufacturing enterprises and computing facilities with a certain construction foundation, clear construction goals, and a clear implementation path, and committing to completing the construction goals within the specified period, and including them in the national-level zero-carbon factory construction list.

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.