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June 12th - In the first five months of this year, Guangdongs total import and export volume reached 4.44 trillion yuan, a year-on-year increase of 18.8%, maintaining double-digit growth for five consecutive months. Exports reached 2.61 trillion yuan, up 10.8%; imports reached 1.83 trillion yuan, up 32.4%. In May, Guangdongs total import and export volume reached 948.19 billion yuan, reaching a record high for a single month, an increase of 20.3%; exports reached 549.13 billion yuan, up 8.6%; imports reached 399.06 billion yuan, up 41.2%.June 12 – The Hong Kong Special Administrative Region (HKSAR) government is working diligently to finalize Hong Kongs first Five-Year Plan. In a recent interview, HKSAR Chief Executive John Lee revealed that the plan is expected to be released by the end of the third quarter of this year, earlier than the governments original target of the end of the year. Lee thanked the community for their cooperation in making this progress possible. Previously, Lee announced that the HKSAR government would launch a public consultation on the Hong Kong Five-Year Plan on June 15 (next Monday).The Peoples Bank of China (PBOC) announced today that it conducted 393 billion yuan of 7-day reverse repurchase operations, with a bid amount of 393 billion yuan and a winning bid amount of 393 billion yuan. The operation rate was 1.40%, unchanged from the previous rate.June 12 – The 2026 China-Africa Energy Forum was held on June 11 in Addis Ababa, the capital of Ethiopia, with approximately 100 representatives from governments, businesses, think tanks, and international organizations from both sides participating. Jiang Feng, Head of the Chinese Mission to the African Union, stated in his address that energy is a crucial material foundation for economic and social development. Africa possesses vast potential in both traditional fossil fuels and renewable energy. China is willing to support Africa in enhancing its oil refining capacity, increasing renewable energy development, and building robust power grids, contributing Chinese experience and solutions to Africas energy development.Futures News, June 12th: Crude oil prices fluctuated, and news regarding fuel oil provided limited directional guidance. Market participants lacked confidence in future trading, focusing mainly on immediate needs. Refinery shipments were sluggish, and fuel oil negotiations are expected to remain mostly stable today, with some possible pullbacks at higher levels.

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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