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Why the crypto industry doesn’t want to be regulated by the SEC
As America stumbles toward the 2024 election, the crypto industry appears bent on getting itself a new set of rules. With a comprehensive pro-crypto restructuring of financial rules apparently stalled in the Senate, the industry is seeking passage of a narrower, though equally weak, framework. As of June, the industry has collectively donated over $160 million to Super PACs. They’ve already successfully urged Congress to repeal Securities and Exchange Commission guidance on how banks and other firms should account for crypto on their financial statements, though they failed to get enough members to override ... (full story)
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From @FirstSquawk|Jul 24, 2024post: PBOC SETS YUAN MID-POINT AT 7.1321 / DLR VS LAST CLOSE 7.2640PBOC sets USD/ CNY central rate at 7.1321 (vs. estimate at 7.2706) The previous close was 7.2640 In open market operations: • PBOC injects 235bn via 7-day RR, sets rate at 1.7%.People's Bank of China reduces 1 year Medium-term Lending Facility (MLF) rate to 2.3% Last week the PBOC left the MLF rate at 2.5%. Cuts today, to 2.3%. • Injects 200bn yuan in a 1 year MLF. Reuters reporting on a statement from the People's Bank of China.
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- Posted: Jul 24, 2024 10:01pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 195
