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According to NHK, Japan will invest 100 million euros in a French rare earth project.On March 16, JPMorgan Chase made a pessimistic forecast about Teslas prospects: the brands quarterly deliveries may hit the worst record in three years. Specifically, JPMorgan Chase lowered Teslas delivery expectations by 20%, from the initial estimate of 444,000 vehicles to 355,000 vehicles. Moreover, the original forecast value was slightly higher than the industrys general consensus of 430,000 vehicles. In addition, the agency believes that Teslas stock price still has room to fall sharply, possibly to $120 per share, almost half of the current stock price. At present, Teslas market downturn is just over halfway through the first quarter, and the final impact may not be clear until the second quarter financial report is released. JPMorgan Chase pointed out that Teslas current predicament is "unprecedented" in the automotive industry. "In the history of the automotive industry, it is difficult for us to find similar cases-the market value of a brand can shrink so much in such a short period of time."On March 16, the Yemeni Houthi armed forces said on the 16th that the US militarys air strikes on many places in Yemen on the 15th have killed at least 20 people. The Yemeni Houthi armed forces also stated that they will not remain indifferent to the US military attacks. The Houthi armed forces are fully prepared to "escalate against escalation." The Yemeni Houthi armed forces said on the 16th that the US militarys air strikes on many places in Yemen on the 15th have killed at least 20 people. The Yemeni Houthi armed forces also stated that they will not remain indifferent to the US military attacks. The Houthi armed forces are fully prepared to "escalate against escalation."According to the Philippine Institute of Volcanology and Seismology, a magnitude 5.1 earthquake occurred in the sea near Surigao del Norte Province, Philippines at around 9:10 am on March 16, with a focal depth of 10 kilometers. The earthquake is not expected to cause any damage, but there will be aftershocks.On March 16, French President Emmanuel Macron said in an interview published by French media on the evening of the 15th that if Russia and Ukraine achieve a ceasefire, France is willing to talk with Russia on the arrangements for providing security guarantees to Ukraine, including "direct communication" with Russian President Vladimir Putin. Macron said in the interview that the consensus reached on a temporary ceasefire in the US-Ukraine-Saudi talks was "an important progress" and now "the pressure is on Russia." If Russia is considered to have no sincerity in participating in the peace process, US President Trump is expected to increase sanctions and pressure on Russia. Macron said that "many countries", including some non-European countries, have expressed their willingness to participate in the "volunteer alliance" proposed by France and Britain to provide security guarantees for Ukraine after the future ceasefire, and each participating country is expected to send thousands of soldiers. Macron also expressed opposition to the confiscation of Russias frozen assets in the interview, believing that this "violates international rules."

Thailand’s SEC Greenlights 4 Crypto Companies Amid Zipmex Turmoil

Jimmy Khan

Aug 08, 2022 14:28

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As one of the first nations in Southeast Asia to pass legislation that directly handles digital assets, Thailand, a nation with over 3.6 million bitcoin users, has opened its doors to firms involved in the industry.


In fact, the tourism ministry has gone so far as to lay out plans for turning the nation into a refuge for international tourists interested in Bitcoin. In light of this, some cryptocurrency businesses have received formal approval from Thailand's financial authorities.

License

Four further operators of digital assets have received licenses from Thailand's Securities and Exchange Commission (SEC). These include T-BOX, a cryptocurrency exchange, and Krungthai XSpring, a full-service brokerage connected to one of the nation's top banks.


Coindee, a cryptocurrency adviser and fund manager, and Leif Capital Asset Management, which also manages funds, are the other two businesses that received regulatory permission. Notably, the four companies have not yet begun operations since the SEC is checking over their offerings.


As a result of these developments, Thailand currently has 21 fully regulated operators of digital assets, including 9 exchanges, 9 brokers, and 3 fund managers. It happens at the same time that the SEC has opened an inquiry into Singaporean exchange Zipmex (which also does business in Thailand) for allegedly breaking trading regulations by preventing client withdrawals last month. Soon later, the SEC disclosed that users of Zipmex may contribute data through an online forum on the company's main website.


The regulator alleges that Zipmex provided insufficient justification for stopping withdrawals, and as a result, the company restored withdrawals for smaller alternative currencies while keeping bigger assets like Bitcoin (BTC) and Ethereum (ETH) frozen.

Bitcoin Stance

Thailand was seen as having a more open and progressive position after 2018 when the Digital Asset Act, which originally meant to address security, fraud, and initial coin offers (ICO), was passed. In Thailand, 5.2 percent of the overall population owns digital assets.


Regulations changed over time, and most recently the government abandoned its original proposal to retain 15% of bitcoin transactions. The first blockchain education and research program in the nation was established via a collaboration between the Chulalongkorn University and the blockchain network Tezos.


In order to support the business, Thailand has further loosened tax regulations until the end of 2023, allowing cryptocurrency dealers on government-approved exchanges to avoid paying a 7 percent value-added tax (VAT).


On April 1 of this year, Thailand's Security and Exchange Commission, citing worries about money laundering and financial instability, outlawed the use of cryptocurrencies as a form of payment. The SEC said that because of their volatility and high transaction costs, digital assets do not increase the efficiency of the payments system. However, it was made clear that the restriction does not apply to trading in cryptocurrencies, just to using them to make payments.


Nevertheless, with the bull market in full force in 2021, Thai crypto volumes increased by 600%. The world's biggest cryptocurrency exchange by trading volume, Binance, was said to be attempting to re-establish itself in Thailand by establishing a jointly owned Gulf Binance crypto exchange with Gulf Innova earlier this year.