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On December 29, the Eastern Theater Command of the Chinese Peoples Liberation Army organized destroyers, frigates, fighter-bombers, and other forces to conduct exercises in the sea and airspace east of Taiwan Island, including maritime strike, regional air superiority, and anti-submarine warfare, testing the sea-air coordination and precision targeting capabilities.December 29th - According to Kyodo News, the proportion of foreign residents in Japan is approaching the 10% threshold at a rate far exceeding official forecasts, with dozens of municipalities already surpassing this figure. One village reported that more than one-third of its residents are foreign nationals. In July of this year, then-Justice Minister Keisuke Suzuki stated that by around 2040, the foreign population in Japan is expected to exceed 10% of the total population. Japans labor shortage problem is projected to worsen.Sources say India is suing Reliance Industries and BP for $30 billion over insufficient production from its gas fields.On December 29, the Eastern Theater Command of the Chinese Peoples Liberation Army organized destroyers, fighter-bombers, drones, and other forces in the northern and southwestern sea and airspace of Taiwan Island, along with long-range firepower, to conduct training exercises including sea-air search and destruction, simulated land attack, and live-fire exercises against sea targets. The exercises tested the PLAs integrated coordination and capability to seize control.On December 29th, the fourth meeting of the Standing Committee of the First Non-Motor Property Insurance Professional Committee of the Insurance Association of China was held in Beijing. Representatives from 24 standing committee member units, including the committees chairman, PICC Property & Casualty Insurance, attended the meeting, which was chaired by Zhang Liang, member of the Party Committee and Vice President of the Insurance Association of China. The meeting reviewed and approved a proposal to promote research on model clauses and rates for corporate property insurance and employers liability insurance. The meeting believed that the committee should focus on key and difficult issues in the comprehensive governance and development of non-motor insurance, and take proactive measures through establishing working groups to strengthen industry self-regulation, formulate model clauses, deepen industry research, promote information sharing, and conduct publicity and exchange, thereby reshaping industry rules and image and serving the healthy and sustainable development of the non-motor insurance market. The meeting pointed out that the committee should strengthen its own construction, focusing on the associations overall goal of "serving the industry well, assisting in supervision well, and contributing well to society," anchoring its responsibilities, strengthening self-discipline and collaboration, improving the evaluation and supervision mechanism, and effectively playing the functional role of the committee.

DEX dYdX Blocks Tornado Cash Affiliated Accounts Citing US Sanctions

Jimmy Khan

Aug 12, 2022 14:47

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This week, the Office of Foreign Asset Control (OFAC) and the US Treasury imposed an outright ban on Ethereum, putting the decentralized non-custodial privacy solution therein in serious jeopardy.


The government not only forbade its residents from utilizing the services, but it also established similar guidelines for cryptocurrency firms, telling them not to collaborate with the platform. Since that time, dYdX has been the first decentralized exchange to take action in its direction.

After a tornado, dYdX

The DEX gave its clients an explanation of the cause of the Tornado Outage on the platform in a blog post published yesterday.


As the $625 million Axie Infinity Ronin Bridge assault, where Tornado was utilized as a way to transport the stolen cash around, is one of the most well-known hacks in the history of cryptocurrency, the OFAC banned Tornado Cash.


Beyond this, however, Tornado's privacy regulations made it a go-to for thieves. Thus, the OFAC declared it obligatory to avoid Tornado Crash in order to eliminate the likelihood that the same would be sponsored from inside the nation.


As a result, a sizable number of customers saw that dYdX had disabled their accounts because of their connection to Tornado Cash, according to what the DEX had to say.


"This sudden influx of flags affected many account holders who have never directly interacted with Tornado Cash, and frequently such users do not realize the origin of the funds transferred to them during various transactions prior to interfacing with our platform, but we must nonetheless maintain certain restrictions," said Tornado Cash.

A terrifying storm with a tornado

Things started to fall apart as the crypto facilitator platform dealt with OFAC prohibitions, and in only three days, the network's native token, TORN, reached new lows.


Trading for TORN was spotted at $16.3, down from $30 less than a week ago, a drop of more than 45%.


Investor losses as a result of this abrupt blacklisting are unprecedented since the platform has been permanently blacklisted, making it unable to recoup from the price collapse of 45%.


And now that both DeFi and non-DeFi crypto exchanges are acting in this way, things are only going to grow worse for TORN moving ahead.

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