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Italys composite PMI came in at 53.6 in August, up from 52.5 in the previous month.Italys services PMI for August was 55.2, below the expected 54 and the previous reading of 52.5.September 3rd - According to the China Passenger Car Association (CPCA), preliminary statistics show that from August 1st to 31st, the national retail sales of new energy passenger vehicles reached 1.069 million units, a 4% decrease compared to the same period last August, but a 12% increase compared to the same period last month. Since the beginning of the year, the cumulative retail sales of new energy passenger vehicles have reached 6.737 million units, an 11% decrease compared to the same period last August. From August 1st to 31st, the national wholesale sales of new energy passenger vehicles by manufacturers reached 1.506 million units, a 16% increase compared to the same period last August, and a 4% increase compared to the same period last month. Since the beginning of the year, the cumulative wholesale sales of new energy passenger vehicles by manufacturers have reached 9.754 million units, a 9% increase year-on-year.Market news: Japan will hold a special parliamentary session in early October.On September 3, Foreign Ministry Spokesperson Guo Jiakun held a regular press conference. A reporter asked: Mexican Foreign Minister Velasco will visit China from September 6 to 7. How does China evaluate the current state of China-Mexico relations? What are Chinas expectations for this visit? Guo Jiakun stated that Mexico is a major country in Latin America and an important emerging market. China and Mexico are comprehensive strategic partners. For more than 50 years since the establishment of diplomatic relations, bilateral relations have continued to develop in depth, with fruitful results in exchanges and cooperation in various fields. The two sides maintain close coordination and cooperation in international and regional affairs. This visit is Mr. Velascos first visit to China since assuming the post of Foreign Minister in April this year. China looks forward to exchanging in-depth views with Mexico on bilateral relations and international and regional issues of common concern during this visit, continuously enhancing political mutual trust, deepening mutually beneficial cooperation, promoting the stable development of China-Mexico relations, and better benefiting the people of both countries.

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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