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January 21st - According to foreign media reports, US President Trump is delivering a keynote speech at the World Economic Forum in Davos. In a packed hall, Trump addressed an audience including US Secretary of State Marco Rubio, European Central Bank President Christine Lagarde, Alphabet Chief Investment Officer Ruth Porat, and Bank of America CEO Brian Moynihan. White House Deputy Chief of Staff Stephen Miller was also present. In his opening remarks, Trump stated that he is surrounded by "many friends and some enemies."US President Trump has been touting the rise in US exports and domestic steel production.Sources say that Kazakhstans Kashagan oil field is diverting crude oil to the domestic market for the first time due to a bottleneck in the CPC pipeline.The president of the New York Stock Exchange Group expects IPO activity to be "extremely active" in the near future.January 21 – Four sources familiar with the matter revealed that Reliance Industries, an Indian oil refinery, will resume receiving Russian crude oil in February and March, compliant with sanctions, after a one-month suspension. Reliance last received Russian crude oil in December after receiving a one-month waiver from the United States. This waiver allowed it to gradually reduce its transactions with Rosneft, the sanctioned Russian oil producer, after the November 21 deadline. According to the sources, like other Indian refiners, Reliance will also purchase Russian oil from unsanctioned sellers, but the volume of oil ordered by the refiner in February and March was not disclosed. It remains unclear whether the private refinery will continue purchasing Russian oil after March.

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.


A 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.

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