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On May 21, the China-France Working Group on Climate and Environmental Challenges held its first meeting in Beijing, China, on May 20, 2026. The meeting was jointly led by the Chinese Ministry of Foreign Affairs and the French Ministry of European Affairs and Foreign Ministry, with participation from eight relevant Chinese ministries. The French Ministry of Ecological Transition, Biodiversity and International Negotiations on Climate and Nature participated as the French co-lead unit of the working group. The working group serves as a new and important dialogue platform between China and France in the field of climate and environment. The two sides exchanged in-depth views on key issues in the climate and environment field, including global climate governance, the 31st Conference of the Parties to the United Nations Framework Convention on Climate Change and the Second Global Inventory, climate mitigation and energy transition, climate adaptation, biodiversity, land degradation and forests, pollution, water and oceans, territorial spatial planning and ecological protection and restoration, and climate, biodiversity, and environmental finance.U.S. EIA natural gas inventories for the week ending May 15 were 101 billion cubic feet, compared to an expected 96 billion cubic feet and a previous reading of 85 billion cubic feet.Mexican President Simbaum: I will meet with Homeland Security Minister Mourin in Mexico today.The U.S. EIA natural gas storage figures for the week ending May 15 will be released in ten minutes.On May 21st, driven by AI optimism and strong earnings reports, both the S&P 500 and Nasdaq hit record highs. However, this rally lacked breadth, with most gains coming from large-cap tech stocks. UBS analysts pointed out that in the six weeks ending May 15th, the market capitalization-weighted S&P 500 outperformed the equally weighted S&P 500 by the largest margin in at least 35 years. Given that much of the market value growth was driven by large-cap AI tech stocks, UBS advised investors to reduce overly concentrated positions and guard against the risks of concentrated holdings. UBS also stated that as earnings season nears its end and market focus shifts back to the unresolved Middle East situation, the market may enter a period of respite. Swissquote Senior Market Analyst Ipek Ozkardeskaya said she has been monitoring the market breadth issue, noting that most of the gains are currently concentrated in a few tech companies "priced in with perfect expectations." "If anything goes wrong with their pricing logic, we could see a bubble-like crash."

The Russian Ministry of Finance Has Completed A Bill To Regulate Cryptocurrency Mining

Cory Russell

Apr 18, 2022 10:54

The draft legislation of the crypto bill "On Digital Currency" by the Ministry of Finance (MoF) emphasizes mining and trading laws.


Operators of exchanges and digital trading platforms will be licensed and regulated by a Russian government entity.


The new rule comes as a result of a rising desire for mining among Russian ministers.


Russia's new crypto regulatory law, according to information supplied by Russian news source Kommersant, would be rigorous in its approach.


The most current version of the draft legislation covers the new trading and mining laws for cryptocurrencies (Bitcoin, Ethereum, Litecoin, and others) introduced under the bill "On Digital Currency."

Russia Creates New Crypto Bill

The bill's additional standards for exchange and digital trading platform providers were one of the bill's centerpieces. According to Kommersant, these operators will now work as a team.


The exchange operators will be the ones to buy and sell cryptocurrencies on their own behalf and at their own cost, while the operators of digital trading platforms will be in charge of the organized bidding.


Additionally, these operators will be required to establish a distinct structural unit, produce yearly reports, meet the needs of new management bodies, perform internal control and auditing, and more.


They will also need to be classified as an AML/CFT organization, and their operations will be regulated and licensed by a Russian government authority.


Finally, for the first time, the measure will concentrate on the crypto mining process and companies. After registering with the appropriate authorities, legal companies, and individual miners, the law specified that crypto mining might be done.


These operations will be taxed individually, and data centers will be made available for mining if the owner is a Russian legal company.

Mining is in high demand

While the Russian government was planning to take cryptocurrency in January, things started to pick up pace once the Russian-Ukraine conflict erupted. Not only was the demand for cryptocurrencies increasing, but so was the need for mining.


Russia's Deputy Energy Minister, Evgeny Grabchak, stressed that the legal void around crypto mining must be filled as quickly as possible, with a clear set of laws and regulations in place.


To make the process more efficient, he advised decentralizing it by choosing mining locations on a more regional level rather than at the federal level.


With these rules about to take effect in the near future, it seems that the transition from calling for a mining ban to accepting controls is more of a necessity than a natural shift of attitude.

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