The Daily LEO #292 Inflation Falls, Intel's New Investment and the SEC Drama

Welcome to this edition of The Daily LEO! We pull the best articles in Finances, Crypto news and Hive/Leo into one condensed information packed space.

Be sure to follow @thedailyleo so you never miss the Daily LEO. You can also subscribe to the newsletter here Subscribe to the Daily LEO

---

---

Inflation Fell To 4% In May—Lowest Reading In More Than Two Years

The U.S. is amidst its most persistent stretch of inflation in nearly four decades due to pandemic-era supply chain snarls, Russia’s invasion of Ukraine’s impact on energy and commodity prices and soaring rent prices, among other factors. Inflation peaked at 9.1% a year ago, though the Federal Reserve’s dramatic Interest rate bumps have slowed runaway prices.

---

Intel reportedly in talks to be anchor investor in Arm’s upcoming IPO

Arm Ltd., the British chip designer owned by Japan’s SoftBank Group Corp., is seeking a strategic investor, potentially Intel Corp., to anchor its highly anticipated initial public offering, Bloomberg News reported late Monday.

Citing sources familiar with the matter, Bloomberg reported that Arm has held talks with multiple companies, including chip giant Intel, to participate in the IPO, noting that talks were in early stages and may still fall apart. It was unclear how much investment Arm was seeking, Bloomberg said, or...

---

China’s Recovery Is in Real Peril Now

The People's Bank of China has capitulated to reality and cut short-term lending rates. More cuts to longer term rates are likely in coming days. But highly leveraged households and companies will continue to weigh on the nation's post covid recovery.

---

---

‘All of the SEC’s claims fail’ — Binance.US rebuts motion to freeze funds

Binance.US has asked the court to deny the securities regulator’s proposed temporary restraining order against its assets, claiming that the move would “effectively end” its business.

In a June 12 filing, Binance.US slammed the Securities and Exchange Commission’s emergency motion for a temporary restraining order on its business, calling it “draconian and unduly burdensome.”

The hearing on the temporary restraining order is scheduled for June 13 in the U.S. District Court for the District of Columbia.

---

U.S. SEC Out-of-Bounds in Dragging DeFi Into Proposed Exchange Rule, Industry Says

The U.S. Securities and Exchange Commission (SEC) wants to stretch how it identifies exchanges it needs to regulate, and the agency’s inbox is jammed with crypto industry letters accusing it of reaching well beyond its legal powers and potentially forcing rules on services the platforms need, such as electric companies.

The most recent re-write of the agency’s exchange proposal in April would explicitly absorb decentralized finance (DeFi) into the world of exchanges subject to SEC rules and oversight, arguing that an updated rule would help modernize the securities regulator’s approach to the changing markets.

---

Hong Kong seeks fast regulatory action on stablecoins

According to the local news outlet The Standard, Hong Kong is making strides in creating a clear framework for stablecoins pegged to traditional financial assets.

The Hong Kong Monetary Authority (HKMA) aims to introduce the proposed comprehensive regulatory framework for stablecoins within 18 months.

With Hong Kong’s progressive approach to stablecoin regulations, the city stands out as a more welcoming environment for cryptocurrencies, potentially attracting market participants from countries like the U.S. with more stringent regulations.

---

LeoFinance is a blockchain-based social media platform for Crypto & Finance content creators. Our tokenized app allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.

Subscribe to The Daily Leo and start being up to date with the crypto & finance world!

_{This edition of The Daily Leo was published by @bitcoinflood on Leo Finance, read the original article here}

Posted Using LeoFinance Alpha