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The Peoples Bank of China (PBOC) announced today that it conducted 105.5 billion yuan of 7-day reverse repurchase operations, with both the bid and winning bids amounting to 105.5 billion yuan. The operating rate was 1.40%, unchanged from the previous rate.On February 3, the Securities Association of China launched a summary and evaluation survey of the three-year improvement plan (2023-2025) for securities companies network and information security, requiring all securities companies to submit survey questionnaires by February 15. This evaluation survey covers six main tasks: continuously improving the level of technology governance, establishing a scientific and reasonable technology investment mechanism, enhancing the ability to plan and control information system architecture, strengthening system R&D and testing management capabilities, consolidating system operation and maintenance capabilities, and improving the information security protection system. The aim is to comprehensively verify the implementation effectiveness of the three-year improvement plan and provide a basis for decision-making for the continuous optimization of the industrys network and information security capabilities. This is the first systematic review of the industrys network security construction achievements by regulators since the plan expires in 2025.February 3 – The Fourth Session of the 16th Shanghai Municipal Peoples Congress opened on the morning of February 3 at the Shanghai World Expo Center. Shanghai Mayor Gong Zheng delivered the Government Work Report. The report showed that in the past year, Shanghai continued to strengthen its efforts to stabilize foreign trade and investment. Foreign trade achieved growth against the trend, the "four-quadrant" differentiated policy approach was further deepened, and trade diversification yielded significant results. Total imports and exports to ASEAN and countries participating in the Belt and Road Initiative increased by 10.4% and 12.1% respectively. Efforts to attract foreign investment were further intensified. An action plan to promote foreign investment was formulated and implemented, the new round of comprehensive pilot programs for expanding the opening-up of the service sector was accelerated, foreign-invested enterprises were encouraged to reinvest in China, and the overseas investment promotion coordination mechanism was strengthened. A number of major foreign investment projects in fields such as new energy vehicles and biomedicine were accelerated. Significant progress was made in work related to Hong Kong, Macao, Taiwan, and overseas Chinese affairs.February 3rd - The Fourth Session of the 16th Shanghai Municipal Peoples Congress opened on the morning of February 3rd at the Shanghai World Expo Center. Shanghai Mayor Gong Zheng delivered the "Government Work Report." The report showed that by 2025, the well-being of Shanghai residents will continue to improve. Per capita disposable income will reach 92,000 yuan, an increase of 4.1%.The most active palladium futures contract rose more than 6.00% intraday, currently trading at 440.00 yuan/gram. The most active platinum futures contract rose 2.00% intraday, currently trading at 564.55 yuan/gram.

Global crypto rules needed to keep markets clean, says UK watchdog

Cory Russell

Jul 15, 2022 14:57

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International crypto companies like Binance must be governed by global laws in order to "keep markets clean," according to a statement made on Thursday by the British Financial Conduct Authority.


The majority of the world's cryptocurrency companies are unregulated, but several nations want proof that they have effective safeguards in place to thwart money laundering.


The biggest cryptocurrency exchange in the world, Binance, was told by the FCA last year that it was "not capable of being adequately monitored" and so could not engage in any regulated activity in Britain.


Regulators in Spain, France, and Italy have this year given Binance permission to operate in those countries' domestic marketplaces.


In answer to a query on whether authorities are being pitted against one another by cryptocurrency startups, FCA Chief Executive Nikhil Rathi said at the Peterson Institute for International Economics in Washington, "I believe some global baseline norms are vital."


The clean markets that we all want depend on having excellent shared regulatory standards and information sharing across borders, according to Rathi. "As we have seen in other domains like anti-money laundering, these are essentially cross-border actions by some very well organized players," he added.


After rejecting applications from a large number of organizations, the regulator has come under fire from the cryptocurrency industry.


We will always be vigilant about consumer protection when it comes to cryptocurrencies, Rathi stated.

Rathi said that, regrettably, the FCA's long-ago warning that holders of crypto currencies may lose all of their money has come true after the recent decline in the price of bitcoin.


global regulatory agency, the Financial Stability Board, said this week that it planned to provide draft proposals for regulating crypto assets to G20 nations in October.


Earlier this month, a French member of the European Parliament asked the French market regulator to reconsider its decision to register Binance.