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January 22 – As Japan prepares for next months snap election, Munehito Kamiya, leader of a newly emerging minority party, stated that the Bank of Japans (BOJ) interest rate hikes may be too rapid and could harm the economy. He said the partys priority is to revitalize the economy through tax cuts, particularly the consumption tax, and loose fiscal policy. Kamiya said the BOJ should proceed cautiously with interest rate hikes given the still fragile economy. "I think the pace of interest rate hikes is a bit too fast," Kamiya said, warning that raising borrowing costs too early could harm the economy and small businesses. "Im not against the BOJs policy direction; the problem is the speed." Kamiya stated, "The division of power between the government and the central bank is quite important. On the other hand, in Japan, fiscal and monetary policies havent reached the level of cooperation they should." "Overemphasizing the BOJs independence could have a negative impact on the economy," he added.The yield on Japans 30-year government bonds fell 10 basis points to 3.62%.The yield on Japans 20-year government bonds fell 7.0 basis points to 3.185%.January 22 - Soaring freight rates have prompted some shipowners to use new tankers to transport Russian oil. This trade is typically carried out by older vessels nearing or exceeding their service life. By the end of 2025, the US and EU will blacklist hundreds of tankers involved in the Russian oil trade, leading to supply shortages and a surge in freight rates. Reputational risks and the threat of sanctions have deterred some shipowners, but at least two Greek companies find the enormous profits from transporting Russian crude too tempting. Transporting Russian oil is not entirely illegal, but if the transport price exceeds the so-called "price cap," it means that Western suppliers (such as dominant players in the insurance industry) will be unable to support the trade. Fears of exceeding the price cap often hinder legitimate operators, while a "dark fleet" fills this gap. Now, sanctions have caused Russian oil prices to plummet, providing a buffer against the price cap and giving Greek companies the confidence to participate in the oil trade, profiting from it using three tankers less than a year old.Shares of Tokyo Electric Power Company (TEPCO) continued to fall, currently down 3.0%. The company stated that an alarm sounded during control rod removal operations at Unit 6 of the Kashiwazaki-Kariwa Nuclear Power Plant, which was restarted on the 21st, and the removal operation was halted.

Indonesian Crypto Exchange Ensures Compliance With Biometric Security-Based Wallet

Cory Russell

May 11, 2022 10:37

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According to statistics site CoinMarketCap, crypto assets have lost about $800 billion in market value in the last month, reaching a low of $1.4 trillion on Tuesday, as the end of free monetary policy dampens desire for risk assets.


According to statistics site CoinMarketCap, crypto assets have lost about $800 billion in market value in the last month, reaching a low of $1.4 trillion on Tuesday, as the end of free monetary policy dampens desire for risk assets.


Bitcoin, which accounts for roughly 40% of the cryptocurrency market, fell to a 10-month low on Tuesday before rebounding to $31,450, only six days after hitting $40,000. It was down more than 54% from its all-time high of $69,000 on November 10th.


Prices of digital assets have fallen, reflecting a drop in stocks on worries of aggressive interest rate rises throughout the world to combat decades-high inflation. The Nasdaq, which is heavily weighted in technology, was down 28% from its all-time high in November 2021.


According to CoinMarketCap, the total crypto market worth was $2.2 trillion on April 2, down from an all-time high of $2.9 trillion in early November.


"Bitcoin remains closely tied to larger economic circumstances, implying that the road ahead may regrettably be bumpy, at least for the time being," stated blockchain data firm Glassnode in a note.


Investors were also alarmed by signs of weakness in stablecoins, which are normally a safer crypto currency. TerraUSD, the fourth-largest stablecoin in the world, lost a third of its value on Tuesday after losing its dollar peg.


According to a study issued on Monday by digital asset management Coinshares, despite bitcoin's price drop, funds and products related to it saw inflows of $45 million last week as investors took advantage of market weakness.


"An enormous amount of liquidity has inflated some of these cryptocurrencies," said Nordea Asset Management's senior macro analyst, Sebastien Galy. As various central banks tighten their monetary policies, he expects crypto, which is also tied to high-growth equities, will face pressure.

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