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February 7th - It was learned from the Ministry of Water Resources that, in order to further improve the construction, operation, and management mechanisms of major water conservancy projects, the Ministry of Water Resources and the National Development and Reform Commission recently issued the "Implementation Opinions on Improving the Construction, Operation, and Management Mechanisms of Major Water Conservancy Projects." Major water conservancy projects are important infrastructure for promoting high-quality economic and social development, playing a crucial supporting role in ensuring flood control, water supply, food security, and ecological security. The opinions are divided into four parts: general requirements, improving the high-quality construction mechanism, improving the high-level operation mechanism, and improving the high-efficiency management mechanism. The opinions require that, focusing on the national water network construction goals of "complete systems, safety and reliability, intensive and efficient, green and intelligent, smooth circulation, and orderly regulation," the government should guide and the market should participate, coordinating "hard investment" and "soft construction," improving the construction and operation mechanism of projects with clear responsibilities, diversified investment, and a focus on both quality and efficiency, and forming a comprehensive, data-driven, and efficient management and guarantee system to achieve high-quality construction, high-level operation, and high-efficiency management of major water conservancy projects.Algeria plans to cancel its air services agreement with the United Arab Emirates.February 7th - A Beijing Municipal Market Supervision Work Conference was held on February 7th. The conference revealed that this years focus will be on investigating and punishing monopolistic practices in public utilities and the platform economy, as well as addressing prominent issues such as unfair competition online.On February 7th, local time, the Russian Ministry of Defense released a war report stating that in the past 24 hours, in response to attacks by Ukraine on civilian infrastructure targets within Russia, the Russian military launched a large-scale strike against Ukrainian military energy and transportation infrastructure using sea-based and air-based long-range high-precision weapons, including the Kinzhal hypersonic missile. All designated targets were hit. In addition, Russian air defense systems shot down one guided-missile bomb and 168 fixed-wing drones belonging to the Ukrainian military. Earlier that day, the Ukrainian Air Force posted on social media that from the evening of February 6th to the early morning of February 7th, the Russian military launched a large-scale air strike against key Ukrainian infrastructure using 39 missiles, including two Zircon hypersonic missiles, and 408 drones.The Ukrainian General Staff stated that its forces attacked an oil depot in Russias Saratov region.

Nvidia Fined $5.5 Million For Inadequate Cryptomining Disclosures

Skylar Shaw

May 07, 2022 09:51


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The US Securities and Exchange Commission (SEC) said on Friday that Nvidia Corporation has agreed to pay $5.5 million to resolve civil claims that it failed to properly disclose the effect of cryptomining on its gaming business.


The SEC claimed in a statement and charging order that Nvidia failed to disclose that cryptomining constituted a "substantial factor" of revenue growth from sales of gaming processors in back-to-back quarters in fiscal 2018.


The company agreed to pay a $5.5 million civil penalty without admitting or denying the SEC's allegations. Nvidia's representative in Santa Clara, California, refused to comment.


According to the SEC, Nvidia's processors became popular for cryptomining in 2018, which is the practice of earning cryptocurrency in return for confirming transactions on distributed ledgers.


According to the regulator, Nvidia was aware of the information but failed to discuss it with investors.


According to the SEC, these omissions misled investors and analysts who were interested in learning more about the effect of cryptomining on Nvidia's business.