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Beyond Meat (BYND.O) shares fell more than 8% in pre-market trading after the company announced it would delay the release of its third-quarter earnings report to quantify an impairment loss.November 3rd - Regardless of the subsequent suspension and reinstatement of physical gold bar withdrawals by ICBC and CCB, the tightening of gold accumulation services by banks is a fact. Since October, several banks have raised the minimum purchase threshold for gold accumulation services, with some banks raising it to 1200 yuan. However, interviewees generally believe that if other banks subsequently suspend or tighten their gold accumulation services, it may lead to a shift in personal gold investment channels in the short term.On November 3rd, it was reported that Switzerlands annual inflation rate unexpectedly fell to 0.1% in October, down from 0.2% in September. However, Pansen Macro analyst Melanie de Bono stated in a report that the Swiss National Bank (SNB) is unlikely to be swayed by this result. SNB President Schlegel recently stated that the bank expects inflation to rise in the coming months. de Bono pointed out that declining rent inflation and electricity price reductions early next year could push the inflation rate down to -0.3% by February next year. However, since the SNB has stated that it will only lower the key interest rate below 0% if inflation falls below zero in the medium term (such as the end of 2027 or the beginning of 2028), the bank is likely to keep interest rates unchanged in December and maintain policy rate stability throughout next year.On November 3rd, UBS economist Franziska Fischer stated in a report that the Swiss National Bank (SNB) is unlikely to cut interest rates again, as it anticipates insufficient deflationary pressures in the medium term. She noted, "Our interpretation is that the SNB currently views the inflation outlook as consistent with its price stability target and believes the impact of tariff shocks on economic growth will be moderate." Fischer also pointed out that for the SNB to consider negative interest rates, three conditions would need to be met simultaneously: a significant weakening of the Swiss economic outlook, further interest rate cuts by the European Central Bank to narrow interest rate differentials, and continued upward pressure on the Swiss franc. These factors combined would significantly worsen the medium-term inflation outlook. Switzerlands inflation rate in October slightly decreased to 0.1% from 0.2% in September.The U.S. secured overnight funding rate (SOFR) surged 18 basis points to 4.22%, marking its biggest increase in a year.

UK Regulator Extends Registration Deadline For Few Crypto Firms

Cameron Murphy

Mar 31, 2022 11:19

The FCA has extended the provisional registration deadline for 12 cryptocurrency companies.

According to the UK's regulator, all other crypto companies must register by April 1.

Over 60 applications have been denied or withdrawn by the watchdog, which has approved 33.


The Financial Conduct Authority (FCA) of the United Kingdom stated that the provisional registration deadline for 12 crypto firms had been extended.


Temporary Registration Regime is a system that allows people to register for a limited

On March 31, the agency planned to cease its temporary registration system (TRR) for crypto-asset enterprises. According to the regulator, 12 companies on the temporary registration will be forced to stop operating if they do not receive approval by the deadline.


According to a regulatory update issued today, the 12 companies will be permitted to continue trading under temporary licenses until the extended deadline.


"Except for a tiny number of enterprises for which interim registration is necessary, the TRR will close on April 1."


However, the FCA cautioned that extensions might be required if a company files an appeal or has special winding-down conditions.


Revolt, Copper Technologies, Blockchain.com, and CEX.IO are among the companies having interim registration.


The authority has previously stated that without permanent licenses, crypto firms in the UK will be forced to close down by April 1. The regime's goal is to prevent money laundering and terrorism financing.


The financial body underlined that the extension of the registration deadline for the 12 crypto firms "does not signify that the FCA has assessed them as fit and appropriate."


The delay comes after UK legislators chastised the government for failing to meet the April 1 deadline. Earlier this year, a Treasury Committee report noted that crypto-asset registrations were "too delayed." "The FCA should not extend the registration deadline beyond March 2022," it stated. If there are no other options, the FCA should write to the Committee to clarify its position."


Cryptocurrency firms are being barred from operating in the United Kingdom.


The regulator's strict yet slow approach has prompted some crypto businesses to leave the nation, annoying the crypto community and users.


Out of over 100 crypto businesses that applied to register, the FCA has only authorized 33 of them so far. Over 60 businesses have been turned down or have withdrawn their applications.

Wirex, a cryptocurrency payment app, is the latest to withdraw its application from the FCA's temporary registration regime before the deadline.


"We decided some time ago to say'screw them,'" a crypto executive told the Financial Times of his company's decision to leave the UK and relocate somewhere in Europe. Over the years, I have been the FCA's biggest supporter. They were the industry's gold standard in terms of regulation. However, that is no longer the case."


Binance and its operations were kicked out of the UK in 2021 by the regulatory authority, which stated that it was not authorized to operate in the country.

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