WAO ART #122

Coinbase has pushed back against the US Securities and Exchange Commission's (SEC) proposed definition change, arguing that the regulator does not have the authority to ban an industry. The SEC's public comment period for the exchange definition proposal, which includes DeFi and crypto.

European Commission President Ursula von der Leyen has signed a multi-million euro deal with Chilean President Gabriel Boric for lithium, a key component in electric vehicle batteries. Chile is estimated to have over a third of the world's reserves of lithium.

Western allies plan to train Ukrainian pilots to fly US-made F-16s, but it is unclear which countries will provide the jets, how many, or when. The head of Norway's Air Force warns that supplying Ukraine with F-16s will not be a "silver bullet" or a "quick fix" as it will take time for Ukraine.

Strong winds and suspected tornadoes have left over 100,000 households without power in parts of the southern US, with storm warnings still in place for swathes of Alabama and Georgia. Daily hailstorms have plagued the region since Saturday, with severe storms still expected in the Florida.

Australia has blocked Russia from building a new embassy near its parliament, citing a spying risk. Laws specifically drafted to halt construction were rapidly passed on Thursday after legal attempts to block the development failed. The current embassy will not be affected by the new laws.

South African President Cyril Ramaphosa is leading a delegation of African leaders on a peace mission to Ukraine and Russia to find a peaceful solution to the conflict. However, South Africa's ties to Russia have raised concerns among Western nations about its ability to negotiate fairly.

Pakistan has lost $3.7bn in remittances in less than a year due to the devaluation of the Pakistani rupee and unfavourable exchange rates. Pakistanis living abroad, particularly in the Gulf countries, are increasingly using informal channels to send remittances home, causing further losses.