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On July 12, US President Trump said that he would impose a 25% tariff on imports from Japan from August 1. Hidetoshi Tashiro, chief economist of Japan Unlimited Contract Co., Ltd., said: Once the 25% tariff is widely applied to other categories of goods, it will be a fatal blow to manufacturers in almost all industrial fields in Japan. In fact, this impact has begun to appear. At present, many small and medium-sized enterprises that produce parts for large companies have cut off orders. The problem is no longer "may happen" but "is happening." This will deal a devastating blow to Japans overall economy. Recently, the Economic Trends Index for May released by the Cabinet Office of Japan showed that the overall assessment of the economic situation has turned to "worsened" for the first time since July 2020, indicating that there is a high possibility that the Japanese economy is in a recession.On July 12, He Xiaopeng, chairman of Xpeng Motors, posted on social media: "After nearly a month of internal discussions, Xpeng has formulated relevant steps for account period adjustment and execution, and has recently begun to move forward. We hope to move forward and change steadily step by step, and together with many partners, use our meager strength to promote the common progress and healthy development of the industry."On July 12, the Tianzhou-9 cargo spacecraft and the Long March 7 Yao-10 carrier rocket combination were vertically transferred to the launch area and are scheduled to be launched at an appropriate time in the near future.July 12, there was a report about "Lei Jun talks about car manufacturing: the most difficult part is making wheels". Xiaomi PR General Manager Wang Hua said: "I have seen several articles or similar videos in the past two days, which extracted the video of Lei Juns interview with Li Xiang in April 2024, cut off the beginning and the end, and took out the middle part that took wheel design as an example to spread it separately, and after taking it out of context, it became Lei Jun talking about the most difficult part of car manufacturing is making wheels."According to a report released by the Indonesian Meteorological, Climate and Geophysical Agency on July 12, at 7:11 a.m. local time on July 12, a 5.3-magnitude earthquake occurred in the sea 297 kilometers southwest of South Nias County, North Sumatra Province, Indonesia. The epicenter was located at 1.62 degrees south latitude and 96.28 degrees east longitude, with a focal depth of 61 kilometers. No tsunami risk is expected.

Binance Caught in the Middle of Regulatory Scrutiny by SEC

Skylar Shaw

Sep 05, 2022 17:28

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While enjoying its position as the biggest cryptocurrency exchange in the world, Binance (BNB-USD) is forced to consider the trade-offs that come with it. Regulators from all around the globe paint a target on its back. The Securities and Exchange Commission is undoubtedly one of the organizations that is most committed to enforcing regulations in the digital asset sector (SEC). Although the SEC has been focusing on lesser fish in the public eye, it seems that Binance has been the object of their attention for some time.

 

According to a Reuters article, the SEC has been on Binance's trail for more than two years. The site claims that the agency has been asking Binance for internal information since at least late 2020.

 

This week, a particular request for further information about the business' anti-money laundering checks became public. Additionally, it searches for internal correspondence from Binance CEO Changpeng Zhao, a prominent player in the cryptocurrency sector as a whole. Additionally, the communications of 12 other executives from Binance were sought.

Binance and Binance are noteworthy.

US is a distinct legal entity that caters to American clients solely. Since the SEC issued this request, Binance has named Brian Shroder as the CEO of Binance.US.

 

This story makes sense considering that the SEC's interest in cryptocurrencies had only just been known at the time. The request was made in December 2020, the same month that Ripple was the target of a lawsuit (XRP-USD). While the Ripple lawsuit focuses with the categorization of assets, it has now been shown that the SEC was also aware of the illegal nature of blockchain more than two years ago, demonstrating the depth of their interest at the time

The SEC Has Been Hot on Crypto's Trail, According to Binance News

The Binance announcement demonstrates that the SEC has been monitoring cryptocurrencies for a lot longer than investors would have thought. After all, other industries are just now starting to take notice of the area. For instance, the FBI didn't establish a crypto task force until February of this year. The SEC is really beginning to hold exchanges accountable now that it has established a strong presence in the market.

 

A member of Senator Cynthia Lummis' staff who supports cryptocurrency said last month that the SEC was looking into every single U.S. exchange. They also said that Binance, despite being a non-U.S. corporation, is under attack.

 

That is undoubtedly coming to pass. It has been adding additional inquiries into the corporation on top of this week's news about the past investigations. News of the agency's investigation of BNB, the exchange's native cryptocurrency, surfaced in June. Zhao is heavily criticizing this inquiry.

 

Even when it is not a specific focus of inquiries, Binance reacts quickly to news about the SEC and cryptocurrency. A Coinbase inquiry led to the exchange delisting the AMP (AMP-USD) coin in July (NASDAQ:COIN). Through its AMP listing, the business was charged by the SEC for concluding an unregistered securities offering. Binance sold the token in order to remove itself from more turbulence with the American authorities.

 

It's unclear if the 2020 inquiry is still active or connected to the remarks made by Lummis' employee. Although investors could soon get the answer to this question given how active the SEC has been in investigating more and more cryptocurrency firms.

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