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Specific Implications for Intangible Assets : Regulatory Fundamentals and Architecture of Pillar Two in France
1.1 Exclusion of Tokenized Carbon Credits from the Substance-Based Carve-Out (SBCO) The Substance-Based Carve-Out (SBCO), also referred to as the Substance-Based Income Exclusion (SBIE), is one of Pillar Two's key mechanisms for preserving the attractiveness of productive investments. It allows a portion of the GloBE income subject to tax to be excluded from the calculation,…
Oil Market Faces Billion-Barrel Deficit Amid Strait Crisis, Reserves Struggle to Compensate
Estimated losses in the oil market reached 800 million barrels in March-April, growing to 1 billion barrels by mid-May, according to the IEA. This compares to a cumulative intervention of 400 million barrels, including the US. Before the conflict, global observable reserves in February stood at 8,185 million barrels; however, a significant portion is operational,…
Inflation Shock Triggers Counterintuitive 1.5% Gold Plunge as Fed Hike Bets Soar
On Tuesday, May 12, 2026, gold prices dropped by 1.5% to $4,665 despite the US Bureau of Labor Statistics reporting the April Consumer Price Index (CPI) at 3.8% year-over-year, the highest since May 2023. This counterintuitive movement occurs because high inflation data first influences the Federal Reserve's expectations, which then drives market reactions, often moving…
Microstructure interne du ratio ETH/BTC
ETH/BTC est le prix relatif de deux systèmes distribués en concurrence. Ses déterminants principaux sont : Prime de contrat intelligent : capitalisation sur l’écosystème DeFi et les dApps. Concurrence des "ETH Killers" : Solana, Avalanche, Sui, Aptos, etc., qui érodent la part de marché d’Ethereum. Mécanisme de destruction EIP‑1559 et frais de gaz : l’activité réseau alimente l’accumulation…
Construction of the Steelldy CCQI Index and Characterization of Carbon Credit Titles (TCC)
CCQI index and characterization of TCMs: Tracking Tokenization of RWAs and Carbon Credits 1.1 Methodology for the STEELLDY CCQI (Climate Credit Quality Index) 1.1.1 Definition and Objectives of the Index: Carbon Credit Quality Benchmark for the Voluntary Market The Climate Credit Quality Index (CCQI), developed by STEELLDY, is a proprietary benchmark for the quality of…