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Japans final manufacturing PMI for November was 48.7, down from 48.8 in the previous month.The yield on Japans two-year government bonds rose to 1%, the highest level since June 2008. The 20-year yield rose 3 basis points to 2.855%, a new high since November 2020.Japans corporate capital expenditure grew at an annualized rate of 2.9% in the third quarter, compared with 7.60% in the previous quarter.On December 1st, the Russian Ministry of Defense reported on November 30th that Russian forces conducted operations in multiple directions, including Sumy and Kharkiv, over the past day. Russian forces struck targets in 143 areas of Ukraine, including Ukrainian military-industrial complexes, fuel depots, and temporary deployment points for Ukrainian troops and foreign mercenaries. Russian air defense systems shot down 230 fixed-wing drones. In the Donetsk regions Krasnodar city (known as Pokrovsk in Ukraine), Russian forces continued their advance into the eastern and northwestern areas of the city, repelling 10 Ukrainian relief attacks. On the same day, the General Staff of the Ukrainian Armed Forces reported 271 battles along the front lines over the past day, with Ukrainian forces repelling Russian offensives in multiple directions. The Ukrainian Air Force, missile units, and artillery attacked four Russian personnel concentration areas and two artillery systems. Ukrainian President Zelenskyy posted on social media that day that Russian forces had launched attacks on Ukraine this week using nearly 1,400 drones, 1,100 guided-missile bombs, and 66 missiles.Research by the Stockholm International Peace Research Institute shows that the worlds top 100 defense companies will generate a record $679 billion in revenue in 2024.

Crypto exchange Bittrex to pay $29-million penalty to U.S. Treasury Department

Skylar Shaw

Oct 12, 2022 15:14

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The cryptocurrency exchange Bittrex Inc. agreed to pay $29 million in penalties for "apparent breaches" of laws against money laundering and sanctions on certain nations, according to the U.S. Treasury Department on Tuesday.


Bittrex has been fined by the Office of Foreign Assets Control (OFAC) and Financial Crimes Enforcement Network (FinCEN) of the Treasury Department, respectively, in amounts of $24 million and $29 million.


However, the settlement stipulates that FinCEN would send $24 million to OFAC after receiving $29 million from Bittrex since some of the breaches are related to the "same underlying behavior" that is the subject of the OFAC investigation.


In reality, Bittrex will have to pay a $29 million fine.


Between March 2014 and December 2017, according to OFAC, Bittrex failed to stop users from accessing its platform from locations in the countries that have been designated as having sanctions, including Cuba, Iran, Sudan, and Syria.


According to FinCEN, their examination revealed that Bittrex did not maintain a successful anti-money laundering program between February 2014 and December 2018.


The report said, "Bittrex's AML policy failed to adequately address the risks connected with the goods and services it provided, particularly cryptocurrencies with greater anonymity.


As the use of cryptocurrencies and other digital assets has increased over the last few years and as they become more entwined with the regulated financial system, authorities are now responsible for assessing risks in a mostly unregulated industry.


Bittrex expressed its "pleasure to have completely addressed" the issue with OFAC and FinCEN on mutually agreed terms in an email statement to Reuters.

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