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Crude Oil Trading Alert: Improved Navigation in the Strait of Hormuz Combined with Temporary Exemption for Iranian Crude Oil Exports Drives Oil Prices to Three-Month Low

Foresight News reports, according to Nikkei, that Pafin, the operator of Japan's crypto asset management service Cryptact, has acquired the crypto tax service provider Gtax. The two parties plan to complete brand integration in October this year. The impetus for this restructuring is the revision of the Financial Instruments and Exchange Act, which, for the first time, includes cryptocurrencies under the scope of financial product regulation.

On June 24, U.S. Treasury Secretary Scott Bessent differentiated between maintaining a strong dollar policy and merely focusing on exchange rates. 'When people talk about a strong dollar, I don't think it's just the Bloomberg Dollar Index,' Bessent said in response to questions after a speech at the Economic Club of New York on Tuesday evening. 'I think it means we are taking various measures to lay the groundwork for people to want to come to this country, whether it's tax certainty, regulatory certainty, or energy certainty.' He stated that a strong dollar is not contradictory to a robust manufacturing sector. 'Germany used to be an industrial powerhouse, and they relied on a strong currency'; this made Germany more efficient, innovative, and productive. Regarding the dollar's decline since early last year: 'I don't wake up thinking, great, this is helpful for the economy. I think it's just price fluctuations on the screen.' He noted that currency depreciation in low-cost manufacturing countries could be detrimental to the U.S.; 'I often think this isn't necessarily because of a strong dollar. Maybe—like Southeast Asian countries, because they manage their currencies the most—but it could also just be weakness in other currencies.' (Sina Finance)