Seeds of Wisdom RV and Economic Updates Sunday Morning 12-15-24

Good Morning Dinar Recaps,

Why Hong Kong has grown into a crypto hub — CEO of WOW Summit

"Hong Kong’s ‘one country, two systems’ framework lets it explore digital asset innovation more freely," Ivan Ivanov told Cointelegraph.

Hong Kong has rapidly become a cryptocurrency hub, positioning itself as a center for financial innovation alongside the United Arab Emirates (UAE) and Singapore. Ivan Ivanov, global CEO of WOW Summit, said this innovation was fostered by a mixture of strong regulatory policy and Hong Kong’s status as a special economic region.

Ivanov told Cointelegraph that Hong Kong’s special relationship with mainland China and robust regulation allow Hong Kong to be a sandbox for financial and technical innovation, which benefits startups, nascent technologies, and institutional investors. Ivanov wrote:

"You get the excitement and potential of crypto, but with the stability and security of a well-established financial system. With Hong Kong's strong connections to the global market, especially Mainland China, it's a really unique and promising place for crypto."

The WOW Summit CEO added that Hong Kong’s stablecoin policy, which requires issuers of stablecoins to acquire licenses and keep their fiat reserves in local Hong Kong banks, promotes trust and transparency in the nascent asset sector.

Hong Kong’s recent crypto developments
Hong Kong’s robust regulatory regime creates an attractive climate for investors who want to experience the upside of cutting-edge technology in finance without fear of losing funds in risky ventures with no legal recourse.

In October 2024, The Hong Kong Financial Services and Treasury Bureau (FSTB) laid out ground rules for AI in finance to mitigate the risks of AI while still fostering integration into existing systems.

The Hong Kong Monetary Authority (HKMA) also announced Project Ensemble in October 2024. The initiative between the HKMA, the Central Bank of Brazil, and the Bank of Thailand explored cross-border tokenized settlements between the three countries.

Hong Kong’s Cyberport Web3 network — a state-run business hub promoting digital asset innovation — now features over 270 blockchain firms. The Cyberport network added more than 120 firms in the past 17 months alone.

In November 2024, ZA Bank, Hong Kong’s largest digital bank, launched retail crypto trading for its clients. The government of Hong Kong also proposed exempting institutional investors from capital gains on their crypto holdings to encourage investment. https://cointelegraph.com/news/why-hong-kong-become-crypto-hub-ceo-wow-summit

@ Newshounds News™

Source:  CoinTelegraph

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BRICS: Trump Tariff Threat Has China Eyeing Key Move to Ditch US Dollar

Amid growing tension between the BRICS economic alliance and the US, Donald Trump’s impending tariff threat has China considering what would be a major move to ditch the US dollar. Shortly after his victory, the United States President-elect warned he would impose 100% tariffs on countries looking to abandon the greenback.

The move is looked at as a key defense from Trump to protect the global status of the currency. However, the BRICS alliance has not been shy about its goal to diversify global finance. Specifically, it has been seeking to promote local currencies over the dollar for much of the last two years.

China Presents Answer to Trump Tariff Threat; It’s Bad News for the US Dollar

Since 2022, the BRICS bloc has firmly embraced de-dollarization efforts. After Western sanctions were imposed on Russia following its invasion of Ukraine, the alliance sought new ways to lessen its reliance on the currency. Since then, talks of trade settlement assets and payment systems have abounded.

Yet the United States, with a new regime impending, has sought to put an end to that. But that hasn’t stopped the bloc from defending itself. Indeed, amid the BRICS and US face-off, Donald Trump’s 100% tariff threat has been answered, with China eyeing a key move to ditch the US dollar.

A new report has called for China to anchor the yuan to non-US dollar currencies. Specifically, a Beijing-based think tank urged policymakers to explore a basket of currencies for the exchange rate of the yuan. The move would create more flexibility in terms of domestic monetary policy and would seek a boost in demand.

The China Finance 40 Forum group that proposed the idea is comprised of senior Chinese regulator officials and finance experts. Moreover, it was devised as a clear answer to the ongoing worry Donald Trump presents.

“Given the stronger dollar and tariff threats posed by Donald Trump’s re-election, intensified external uncertainties could limit the space for domestic monetary policies aimed at maintaining internal and external balance,” the group said. Therefore, finding a new anchor for the currency would “counter the pressures.”

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Source:  Watcher Guru

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Seeds of Wisdom RV and Economic Updates Saturday Afternoon 12-14-24

Good Afternoon Dinar Recaps,

US SENATOR: NEW TREASURY SECRETARY WILL CHAMPION DIGITAL ASSETS

A senator hails Scott Bessent as a champion for digital assets, backing his Treasury Secretary nomination to advance a Strategic Bitcoin Reserve and reshape U.S. fiscal policy.

The Pro-Crypto Leader Poised to Shape US Fiscal Policy

U.S. Senator Cynthia Lummis (R-WY) has voiced firm backing for President-elect Donald Trump’s selection of hedge fund manager Scott Bessent as the next Treasury Secretary. Last month, Trump nominated Bessent to succeed Janet Yellen as the 79th U.S. Treasury Secretary.

Lummis emphasized that his appointment could bolster her recently proposed legislation advocating for a Strategic Bitcoin Reserve. This initiative, formally known as the BITCOIN Act, was unveiled in July and aims to establish a federal bitcoin reserve to fortify the U.S. dollar and tackle the growing national debt. The senator expressed her enthusiasm on the social media platform X on Friday, stating:

Scott Bessent will be a champion for digital assets and a crucial ally in passing my Strategic Bitcoin Reserve.

“I look forward to working closely with the future Treasury Secretary to restore fiscal responsibility!” she added.

The concept of a U.S. strategic bitcoin reserve has gained traction recently, with several states initiating legislative efforts to establish such reserves. Notably, Texas introduced House Bill 1598, aiming to create a strategic bitcoin reserve funded through donations and gifts, allowing residents to pay taxes in bitcoin.

Similarly, Pennsylvania proposed legislation permitting its treasury to allocate up to 10% of state funds into bitcoin. At the federal level, Trump has advocated for a national bitcoin reserve, a proposal that has sparked debate among experts regarding its feasibility and potential economic impact.

These developments reflect a growing interest in integrating bitcoin into governmental financial strategies across the U.S.

Supporters of the decision have praised Bessent’s openness to cryptocurrency innovation. Ripple CEO Brad Garlinghouse, for instance, commented on X: “I don’t want to get too far ahead of myself but… Scott Bessent is the perfect pick by Donald Trump. He will be the most pro-innovation, pro-crypto Treasury Sec we’ve ever seen.”

Bessent, who founded Key Square Capital Management and previously served as chief investment officer for George Soros, has gained recognition for his macroeconomic acumen. Known for advocating deficit reduction and regulatory reform, his nomination has been met with optimism by financial markets and business leaders. Many anticipate his leadership could foster policies favorable to cryptocurrency, potentially advancing proposals such as Lummis’s bitcoin reserve plan.

@ Newshounds News™
Source:  Bitcoin News

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BANK OF ENGLAND GIVES CRYPTO FIRMS TILL MARCH 2025 TO DISCLOSE DIGITAL ASSET EXPOSURE

England’s central bank is giving companies until March 2025 to disclose their exposure to digital assets.

In a new announcement, The Bank of England says that the Prudential Regulation Authority (PRA) – the UK’s financial regulator – is looking to gather data on firms’ current and future exposure to crypto assets.

“This [data] will inform work across the PRA and the Bank of England on crypto assets by helping us calibrate our prudential treatment of crypto asset exposures, analyze the relative costs and benefits of different policy options and providing an updated view of firms’ current and intended crypto asset-related business activities as a base from which to monitor the financial stability implications of these assets.”

Some of the disclosure requirements include any business related to digital assets and how the bank profits from it, risk management policies of the bank toward crypto, a rundown of how the bank reports its crypto assets, and the most significant crypto-related risks the firms are exposed to and how they plan to manage them, according to the PRA’s questionnaire.

“The decision to hold crypto assets (either under trading or banking book) and provide services to crypto asset operators must be fully consistent with the bank’s risk appetite and strategic objectives as set down and approved by the board, as well as with senior management’s assessment of the bank’s risk management capabilities.”

According to the PRA’s second framework for crypto assets, which was released in 2022, firms still cannot completely mitigate the risks of using permissionless blockchains.

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Source:  DailyHodl

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DISCOVER THE BRICS AI ALLIANCE REVOLUTIONIZING GLOBAL TECH IN 2024  |  Youtube

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Seeds of Wisdom RV and Economic Updates Saturday Morning 12-14-24

Good Morning Dinar Recaps,

BRICS NEWS: CALLS TO MOVE AWAY FROM THE US DOLLAR IS GROWING

A handful of developing countries are inspired by the BRICS alliance to ditch the US dollar for cross-border transactions. Emerging economies are taking cues from the bloc to de-dollarize their economies and make local currencies the sole beneficiary for payments. The calls to cut ties with the US dollar are growing and the White House is unable to clamp it down.

BRICS members China, Russia, and Iran are advancing the de-dollarization initiative by pushing local currencies ahead for trade. The move is adding pressure on the greenback’s prospects as it could lose out on the demand and supply dynamics. They are also diversifying their central bank reserves by adding gold and other currencies and commodities.

 
BRICS Advancing To End US Dollar’s Supremacy

The central banks of BRICS and other developing countries are diversifying their reserves giving the US dollar a run for their money. “By diversifying their holdings reserves into a more multi-currency sort of portfolio. Perhaps they can reduce that pressure on their external sectors,” said Cedric Chehab from Fitch Solutions to CNBC.

As BRICS member China’s influence is growing, it is also setting the stage for the de-dollarization agenda to grow rapidly. “As China’s economic might continues to rise, that means that it’ll exert more influence in global financial institutions and trade,” he said. Another benefit for countries moving away from the US dollar as the middleman in bilateral trade

BRICS countries could benefit if they trade in local currencies as it’ll help them move up the value chain. Trading in local currencies “allows exporters and importers to balance risks, have more options to invest, to have more certainty about the revenues and sales,” said former Brazilian ambassador to China, Marcos Caramuru.

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Source:  Watcher Guru

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JAPAN’S LAWMAKER PROPOSES NATIONAL BITCOIN RESERVE

▪️Japanese lawmaker proposes a national Bitcoin reserve.

▪️States can effortlessly create reserves for Bitcoin.

▪️MicroStrategy holds a significant portion of the BTC supply.

Name similarity becomes intriguing in this development. Recently, a Japanese lawmaker presented a new proposal. As you may recall, several months ago, statements emerged from the Trump camp, led by Lummis, advocating for the U.S. government to establish a Bitcoin reserve. This proposal even evolved into a legislative bill.

Satoshi and the Bitcoin Reserve Idea

Trump appointed someone to organize cryptocurrency efforts at the White House before taking office in January. This individual will also work to realize the Bitcoin reserve concept. Today, Japanese parliament member Satoshi Hamada has taken steps to create a national Bitcoin reserve.

Satoshi Hamada, sharing a name with Satoshi Nakamoto, believes that his country should establish its strategic Bitcoin reserve before the U.S. implements this idea. Recently, Russian President Putin mentioned that Bitcoin would not be obstructed.

National Bitcoin Reserve

States can easily create reserves for Bitcoin and other cryptocurrencies with minimal effort. The fact that even Federal Reserve members, including the President, view Bitcoin as an “asset competing with gold” explains our current situation well. Governments already possess vast gold reserves and can similarly create reserves for Bitcoin, often referred to as “digital gold.”

MicroStrategy, MARA, RIOT, BlackRock, and thousands of companies have begun to hold BTC in their reserves. The world’s largest asset manager, BlackRock, has thousands of ETF customers indirectly holding BTC through its IBIT BTC ETF product.

Every week, we read news about institutions purchasing billions of dollars in BTC. Many companies are adding Bitcoin to their reserves to improve stock performance and increase share prices, with MicroStrategy being the most advanced player in this regard. It has grown significantly, with a strong likelihood of being added to the NASDAQ100 in March.

MSTR alone holds approximately 2% of the BTC supply. The total BTC held by ETF issuers, governments, private and public companies, BTC miners, and DeFi platforms is valued at $292 billion, representing 13.81% of the BTC supply.

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Source:  Coin-Turk

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CONSTITUTION CALL AUDIO 12 13 2024  |  Youtube

Did you miss the call last night?  You can listen to the call at our Youtube Channel at the link above.

Ask questions in The Constitution Intel history and more Room Link

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Seeds of Wisdom RV and Economic Updates Friday Afternoon 12-13-24

Good Afternoon Dinar Recaps,

 BRICS NEWS:  BRICS ANNOUNCE CREATION OF NEW KEY ALLIANCE: WHAT IT MEANS

Amid the shifting geopolitical landscape, the BRICS bloc has announced the creation of a new key alliance that could have massive ramifications. Indeed, the economic alliance has seen its members come together to establish a new collaborative effort to focus on technological growth over the next six years.

The BRICS bloc has ramped up cooperation over the last two years. As Russia has navigated increased Western sanctions following its invasion of Ukraine in 2022, it has looked to its allies in the global south to continue fortifying its global position. That is poised to continue with the launch of this new alliance.

BRICS Launch New Alliance With Massive GDP Growth Expected

The past two years have been massive for the BRICS alliance. It has grown from a five-member bloc to a nine-member collective and introduced a new 13-nation partnership association. Yet alongside its growth has been an ongoing and worldwide technology revolution. Now, the bloc has instituted a new initiative to take advantage of those changes.

The BRICS bloc has announced the creation of its very own AI alliance, according to a Reuters report. Indeed, Russian President Vladimir Putin announced that the country would spearhead plans to develop AI technology within the BRICS nations. The move will see the global south seek to better compete with the world in various emerging technologies.

Russia must participate on equal terms in the global race to create strong artificial intelligence,” Putin said at an AI conference in Moscow. “It is precisely the advanced solutions hat Russian scientists are currently working on.”

Additionally, Putin said the bloc will “invite scientists from all over the world to join in the collaboration.” Currently, Western sanctions have affected Russia’s access to microchips necessary for AI development. Therefore, it is once again turning to its BRICS allies to help it keep pace while the Ukraine war that is driving sanctions persists.


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Source:  Watcher Gurur

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TRUMP TEAM EXPLORES CONSOLIDATING OR ENDING BANKING OVERSIGHT BODIES—BIG WIN FOR CRYPTO?

▪️Donald Trump’s presidential transition team is reportedly discussing the possibility of reducing the number of banking regulators, merging agencies, or even eliminating some entirely.

▪️With the potential consolidation or reform of the FDIC, OCC, and Federal Reserve, alongside the CFPB, the crypto market could benefit from a more streamlined regulatory environment, allowing it to flourish more freely.

Advisers to President-elect Donald Trump and officials of the Department of Government Efficiency (D.O.G.E), Elon Musk and Vivek Ramaswamy, are reportedly debating on strategies to slim down or even abolish key financial watchdogs.

According to a report by The Wall Street Journal, this discussion comes as part of a broader push to reconfigure the regulatory framework affecting the banking and crypto sector, which some in Trump’s circle view as overly burdensome. These advisers argue that a significant rollback of regulatory powers could foster a more business-friendly environment for cryptocurrencies.

In interviews, Trump’s advisers have raised questions about the feasibility of consolidating bank deposit insurance functions into the Treasury Department.

Additionally, conversations have included suggestions to combine various regulatory bodies, including the FDIC, the Office of the Comptroller of the Currency (OCC), and the Federal Reserve.

A significant opportunity has emerged for Trump to appoint a new leader to the Federal Deposit Insurance Corporation (FDIC).

Meanwhile, Brian Quintenz, a prominent name in cryptocurrency policy, is being considered for the chair position at the Commodity Futures Trading Commission (CFTC). Current FDIC Chair Martin Gruenberg has announced his retirement, effective January 19.

However, as he steps down, he faces considerable challenges. Republican House of Representatives member Tom Emmer publicly accused Gruenberg of being the “architect of Operation Chokepoint 2.0. and failing to protect his own employees”. 

Emmer’s comment is based on a congressional hearing where Gruenberg testified about an investigation revealing a culture of sexual assault, harassment, and mistreatment at the FDIC during his tenure.

For context, “Operation Chokepoint 2.0” is an alleged and unconfirmed initiative suggesting that the U.S. government pressured banks to limit services to cryptocurrency businesses, which may have impacted crypto exchanges like Binance and Coinbase.

Deregulation: A Double-Edged Sword for Crypto?

Nic Carter, a partner at Castle Island Ventures, recently stated that Silvergate Bank likely would have survived if it hadn’t been forced into voluntary liquidation by U.S. regulators.

The bank paid out large fines to its regulators: $43 million to the Federal Reserve, $20 million to California’s Department of Financial Protection, and $50 million to the Securities and Exchange Commission (SEC). Carter revealed that an insider at Silvergate informed him the bank had to limit its crypto deposits to 15% to avoid regulatory repercussions.

Signature Bank and Silicon Valley Bank, both of which were known for their support of cryptocurrency, are additional examples of banks affected by the actions of the FDIC. These banks, which had partnerships with venture capital firms like Andreessen Horowitz and Pantera Capital, shut down in early 2023.

Recently, a federal judge reprimanded the FDIC for its lack of transparency regarding its oversight of banks involved in cryptocurrency. This criticism highlights the need for reforms in the agency.

Additionally, the potential dissolution of the Consumer Financial Protection Bureau (CFPB) adds another challenge for the crypto sector.

The judge’s comments arose during a Freedom of Information Act (FOIA) lawsuit backed by Coinbase, which questioned the FDIC’s redactions of “pause letters” issued to banks concerning their crypto activities.

By abolishing the watchdogs, it can allocate resources more efficiently and encourage innovation in the crypto industry. However, if regulatory changes disrupt the existing financial oversight structure, the crypto industry might find itself in a precarious position as agencies like the SEC, CFTC, and OCC vie for authority over various facets of blockchain. 

This process could either clarify regulations or lead to confusion and instability within the industry.

With support from Coinbase and other major crypto firms, the election of pro-crypto candidates marked a pivotal moment for the industry. 

The cryptocurrency sector invested over $119 million to support such candidates, resulting in the election of more than 240 pro-crypto lawmakers to the House of Representatives and Senate, a notable success for the push for clearer regulations and leadership in the US.

Coinbase CEO Brian Armstrong declared this as “America’s most pro-crypto Congress ever,” suggesting that the potential abolition of banking watchdogs would represent a substantial win for the crypto industry and could bolster investor confidence.

Additionally, it could enable cryptocurrencies to operate more efficiently, leading to real-time transactions, lower fees, and increased mainstream acceptance.

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Source: Crypto News Flash

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CARDANO (ADA) JUST RELEASED DAEDALUS V7.0.0: MAIN CHANGES

Cardano's developer Input Output announced the release of Daedalus v7.0.0, an updated version of full-node desktop wallet software. Deadalus mechanisms are optimized for a new design of ADA delegation that is necessary for the upcoming Cardano Constitution referendum.

Cardano's Daedalus v7 is out: What changed?

Input Output Global, the development entity behind PoS blockchain Cardano, announced the release of a new version of Daedalus, its full-node wallet software. Daedalus v7.0.0 arrives with major changes of the ADA delegation mechanism.

The new release, which was revealed by IOG on Dec. 10, 2024, enables users to delegate their voting power to delegated representatives (DReps), as voting actors in governance mechanism.

Also, with Daedalus v7.0.0, ADA wallets can choose an automatic voting option (abstain or no confidence), ensuring that the Daedalus community has a voice in crucial developments for Cardano.

Daedalus v7.0.0 build is now available in mainnet, pre-prod and preview iterations. The team of IOG reiterated that the ADA community should be ultra-cautious about Daedalus-related scams.

ADA community to vote on Cardano Constitution in January 2025

Namely, Cardanians should always keep in mind that Daedalus full node wallet is only available for desktops. All announcements regarding "mobile Daedalus" wallets and ADA delegation in them are blatant scams.

Also, in the new voting tab, users can select their registration preference for each wallet held in Daedalus. Existing users will get a prompt to update via the Daedalus newsfeed.

As covered by U.Today previously, Cardano inches closer to the greatest referendum in years. In January 2025, the ADA community will approve or reject Cardano Constitution, an ambitious decentralization principles code.

In early December, Cardano's Constitution draft was approved by a convention in Buenos Aires.

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Source:  Trading View

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FRIDAY NIGHT LIVE CONSTITUTION CALL

Discussions on our Constitution, your sovereignty, your rights, your jurisdiction, your citizenship, and your Strawman.  Join the call whether you are brand new and know nothing of how we lost our sovereignty, original Constitution, and God given rights over the last 200 hundred years or whether you are a scholar on the subject.  We invite all to join. We have two gentlemen, Mike Mason and Jim Silver57, who are well versed on our TRUE history and we invite you to join in the discussion.

JOIN US TONIGHT AT 5 PM PT, 7 PM CT, AND 8 PM ET

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WHAT DID HE SAY ABOUT LAW?  |  Youtube Short

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History, Common and Civil Law, Jurisdiction, Language

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Seeds of Wisdom RV and Economic Updates Friday Morning 12-13-24

Good Morning Dinar Recaps,

CRYPTO ADVOCATE FRENCH HILL PICKED TO LEAD HOUSE FINANCIAL SERVICES COMMITTEE IN 2025

As chair, Hill will oversee Federal Reserve, Wall Street, and crypto sector regulations amid growing scrutiny.  Congressman French Hill has been appointed as the next chair of the House Financial Services Committee.

He will succeed North Carolina’s Patrick McHenry, who is retiring after a 20-year stint in Congress, including multiple terms leading Republicans on the board.

Hill’s Vision

The Arkansas Republican announced the news on December 13 via X:

“I am humbled that my colleagues have placed their trust in me to lead FinancialCmte as their next Chairman.”

The party’s steering committee appointed the lawmaker to the role on Thursday while finalizing committee leadership for the 119th Congress, which begins next year. This position means Hill will be key for legislative initiatives for the crypto industry that will take shape in the coming year.

In a formal statement, the 68-year-old highlighted his promise to work closely with Speaker Mike Johnson, Majority Leader Steve Scalise, Majority Whip Tom Emmer, and House Republican Conference Chair Lisa McClain in the future.

He also mentioned that he’s looking forward to collaborating with President-elect Donald Trump and Senate Banking Committee Chairman Tim Scott on what he described as “a new era of American prosperity’ for all citizens.

Crypto Legislative Efforts

The Financial Services Committee oversees critical areas, including the Federal Reserve, Wall Street regulations, and the increasingly scrutinized cryptocurrency sector. Hill, who currently chairs the Digital Assets, Financial Technology, and Inclusion subcommittee, has been a vocal proponent of crypto-related legislation.

His efforts include championing bills to clarify regulatory jurisdiction between the Securities and Exchange Commission (SEC) and the Commodities and Futures Trading Commission (CFTC). 

He has also collaborated with California Representative Maxine Waters on stablecoin legislation, though the bill was ultimately not introduced.

Additionally, the Arkansan has pledged to investigate Operation Chokepoint 2.0, which he described as an initiative targeting the cryptocurrency sector through politicized debanking.

Trump has previously vowed to end the Biden administration’s war on crypto. Following his re-election, reports came out that his transition team was considering various crypto-friendly candidates for key regulatory positions.

Since then, the President-elect has appointed David Sacks as AI and Crypto Czar and Paul Atkins as the SEC’s new chairman. Hill will officially take on the leadership role when the new congressional session convenes on January 3, 2025.

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Source:  Crypto Potato

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COINBASE TO START RESTRICTING STABLECOINS IN EU BASED ON MICA COMPLIANCE

▪️Coinbase will restrict non-compliant stablecoins under MiCA, including USDT, PAX, PYUSD, and DAI, starting tomorrow.

▪️Algorand identified Circle’s USDC and Quantoz’s EURD as compliant alternatives amid shifting EU stablecoin market dynamics

▪️Tether exited Europe but invested in Quantoz, signaling strategic pivots as Circle partners with Binance to challenge Tether’s dominance.

According to Algorand, Coinbase began notifying its European clients that it will begin restricting stablecoins that don’t meet Markets in Crypto Assets (MiCA) requirements tomorrow.

Coinbase Prepares for MiCA

This news comes from the Algorand Foundation, a proof-of-stake blockchain and cryptocurrency.

Algorand directly posted their notice from Coinbase through a social media post and listed the MiCA-compliant stablecoins that its users could switch to. Both of these options, Circle and Quantoz, are entangled in a new struggle for EU stablecoin dominance.

“Dear Client, as a reminder, due to the new MiCA regulation, Coinbase will implement restrictions for stablecoin services that do not meet MiCA requirements. Based on the latest information, we currently expect we will have to restrict services for the following assets: USDT, PAX, PYUSD, GUSD, GYEN, and DAI,” Coinbase claimed in its notice.

MiCA is a comprehensive new regulatory framework for cryptoassets in the EU, and its advent is creating dramatic new market opportunities. 

Before this year, Tether was the dominant stablecoin in this market, but it quickly became apparent that the stablecoin giant would not meet compliance. Several firms consider this moment a chance to overtake Tether’s market share.

Tether, for its part, is acting strategically. On one hand, it significantly scaled back EU operations in November. The company also heavily invested in Quantoz, which launched one of two MiCA-compliant stablecoins that Algorand identified. The other approved asset, Circle’s USDC, represents an effort to directly muscle in on Tether’s old territory.

Yesterday, Binance announced a partnership with Circle, seemingly to expand in Europe. Coinbase partially owns Circle, and thus, this public gesture took place despite these two massive exchanges’ rivalry. With their combined capital and resources, the pair could make significant strides in the EU market.

For non-stablecoin crypto firms like Algorand, however, this “MiCA market opportunity” might not impact regular operations. The firm has enjoyed an impressive rally in recent months, and its announcement claimed that users could seamlessly use either USDC or EURD from Quantoz.

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Source:  Be In Crypto

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CRYPTO SUCCESS SECRETS NOBODY SHARES  |  Youtube

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Seeds of Wisdom RV and Economic Updates Thursday Evening 12-12-24

Good Evening Dinar Recaps,

GOLDMAN SACHS CEO DAVID SOLOMON SAYS BANK NEEDS REGULATIONS TO CHANGE BEFORE LOOKING AT CRYPTO: REPORT

The CEO of Wall Street titan Goldman Sachs reportedly says the investment bank is not diving into crypto without regulatory permission.

According to Reuters, David Solomon says US regulations need to change before the bank can start holding and trading crypto assets.

Says Solomon during an interview at the Reuters NEXT conference in New York,

“That’s a question you have to ask regulators. At the moment, as a regulated banking institution, we’re not allowed to own a cryptocurrency like Bitcoin as a principal.

We give our clients advice around a variety of these technologies and these issues and will continue to do that, but for the moment our ability to act in these markets is extremely limited from a regulatory perspective.”

Solomon’s statement comes amid growing interest in crypto-focused financial products. Investment giant BlackRock’s Bitcoin (BTC) exchange-traded fund is now bigger than its gold exchange-traded fund despite the latter’s 19-year head start.

The crypto market is also anticipated to explode following the victory of Donald Trump in the November election. The president-elect promised to implement policies that will solidify crypto self-custody and bolster the growth of the industry.

Trump also picked crypto-friendly Scott Bessent and Paul Atkins as Treasury Secretary and U.S. Securities and Exchange Commission (SEC) chair, which is regarded as an early sign of an incoming shift in the government’s stance on digital assets.

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Source:  DailyHodl

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IOTA COFOUNDER MEETS PHILIPPINE SECRETARY OF TRADE TO DISCUSS EXPANSION IN SOUTH EAST ASIA

▪️Dominik Schiener met Philippine Trade Secretary Cristina Aldeguer-Roque to explore integrating IOTA’s TWIN logistics network into Southeast Asia by 2025.

▪️IOTA’s Rebased protocol introduces a dual-contract system (EVM and MoveVM) enabling 50,000+ transactions per second with minimal latency.

IOTA, a decentralized blockchain solution known for its scalability and efficiency, is ramping up its efforts in Southeast Asia. In a strategic move, Dominik Schiener, IOTA’s co-founder, engaged in an important discussion with Cristina Aldeguer-Roque, the Secretary of Trade for the Philippines.

 This meeting occurred during a high-profile international summit, setting the tone for IOTA’s expanding footprint in the region.  

The session highlights cooperation between prominent industry leaders and government officials. Discussions reflect a strategic vision to incorporate TWIN into Southeast Asia’s logistics networks, with the aim of implementing it by 2025. 

TWIN seeks to optimize trade processes by merging physical goods with digital infrastructure, eliminating inefficiencies and boosting transparency.

Rebased Upgrade Solidifies IOTA’s Expansion

In parallel, IOTA continues to evolve its ecosystem by introducing the Rebased protocol, which represents a pivotal upgrade for the platform. 

Building on earlier updates like Stardust, Rebased brings groundbreaking changes, solidifying IOTA’s standing as a leading blockchain innovator. Features such as low transaction fees, staking rewards, and enhanced scalability further underline its commitment to progress.  

The Rebased protocol introduces advanced smart contract capabilities through its unique dual-contract framework, which blends the Ethereum Virtual Machine (EVM) with MoveVM. Developers can now leverage Ethereum-compatible tools or Move-based programming languages to create seamless, scalable solutions on the IOTA network.  

Moreover, the Mysticeti consensus switch bolsters the protocol’s capacity, enabling over 50,000 transactions per second with minimal latency. This ensures faster finality while retaining decentralization. Notably, IOTA’s adaptive fee burn mechanism keeps transaction costs low, catering to a wide spectrum of users.  

The network’s staking model offers attractive incentives, with an initial annual inflation rate of 6-7% and staking yields as high as 10-15% for participants. Such robust features are steering IOTA toward a sustainable future, fostering innovation in decentralized finance (DeFi) and other blockchain applications.  

Expanding Ecosystems and Strategic Partnerships

IOTA’s commitment to scalability is evident in the recent growth of its Ethereum Virtual Machine (EVM) Layer 2 platform. Introduced in June 2024, the platform achieved remarkable success, with its Total Value Locked (TVL) climbing from $30 million to $86 million. To further encourage DeFi adoption, IOTA has set aside $28 million for development over the next two years.  
On a global scale, IOTA has forged critical alliances. Notable partnerships include the development of Kenya’s Trade and Logistics Information Pipeline, the tokenization of U.S. Treasuries with Realize, and collaborations with Rabby Wallet, LayerZero, and Pyth Network. These ventures showcase IOTA’s dedication to practical applications of blockchain technology.

As 2025 approaches, all eyes are on IOTA to see how it will continue reshaping the digital landscape, driving transparency, efficiency, and growth across industries worldwide.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

JUST IN: COINBASE SCORES MAJOR WIN IN FOIA CASE AGAINST FDIC

A Federal Judge has once again ruled in favor of Coinbase as FDIC's redactions in core files were called into question

American crypto trading firm Coinbase Global Inc. has scored another major win against the Federal Deposit Insurance Commission (FDIC) in its ongoing Freedom of Information Act (FOIA) legal battle. This new ruling flags the FDIC for making what the court called “nuanced redactions.”

Coinbase and FDIC: Where is The Case Heading?

According to excerpts of the ruling shared by Paul Grewal, the exchange’s Chief Legal Officer, the Judge said FDIC acted in bad faith with its redactions. The judge noted that the market regulator cannot just “blanket redact everything that is not a preposition.”

This new ruling comes as Coinbase shared documents last week that exposed the FDIC’s role in the much criticized Operation Chokepoint 2.0.

@ Newshounds News™

Source:  CoinGape

Read more:  X .com 

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Seeds of Wisdom RV and Economic Updates Thursday Afternoon 12-12-24

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TEXAS LAWMAKER PROPOSES STRATEGIC BITCOIN RESERVE

Texas Representative Giovanni Capriglione proposed a taxpayer-free Strategic Bitcoin Reserve.

Texas State Representative Giovanni Capriglione has introduced a bill to establish a Strategic Bitcoin Reserve for the state.

The announcement was made during a discussion on Spaces hosted by Dennis Porter of the Satoshi Action Fund, an organization focused on Bitcoin policy advocacy.

Key provisions of the bill include:

▪️Acquiring Bitcoin as a reserve asset.

▪️Storing the Bitcoin in cold storage for a minimum of five years.

▪️Allowing residents to contribute Bitcoin donations.

▪️Ensuring transparency through annual reports and audits.

▪️Permitting state agencies to accept cryptocurrencies and convert them into Bitcoin.

▪️Establishing guidelines for security and reserve management.

The bill specifies that it will take effect immediately if passed with a two-thirds majority in both legislative houses; otherwise, it will become effective on September 1st, 2025.

This proposal aligns with broader interest in Bitcoin reserves in the U.S. and globally. Earlier this year, a similar federal Strategic Bitcoin Reserve bill was introduced by Senator Cynthia Lummis.

Other states, such as Pennsylvania, and countries including Russia and Brazil, have also put forth similar initiatives.

Lee Bratcher, President of the Texas Blockchain Council, expressed support for the proposal, highlighting Representative Capriglione’s leadership role and noting that the plan does not involve taxpayer funding.

The bill’s progress will depend on legislative deliberation and public feedback, as its implications for Texas’s financial strategy and digital asset policy come under consideration.

@ Newshounds News™

Source:  BTC Times ,  X .com

~~~~~~~~~

RAY DALIO SAYS TO INVEST IN BTC AND GOLD, NOT DEBT ASSETS: REPORT

Dalio says he is investing in BTC and gold, not debt assets because the latter would lose their value due to an incoming debt crisis among major economies.

Ray Dalio, an American investor and founder of the world’s largest hedge fund, Bridgewater Associates, says he is investing in bitcoin (BTC) and gold rather than debt assets.

The billionaire, who now serves as Bridgewater Associates’ investment chief, is more interested in the precious metal and cryptocurrency because they are “hard money.”

On the other hand, debt assets like bonds are to be avoided because major economies are bound to face debt crises in the coming years, leading to a decline in their value.

BTC and Gold Over Debt Assets

According to a report from the South China Morning Post, Dalio dropped his remarks on BTC and gold during a speech on December 10 at the Abu Dhabi Finance Week (ADFW).

He stated that all major economies, including the United States, China, and, excluding Germany, are seeing their indebtedness surge to unprecedented levels. Unfortunately, these levels are unsustainable, and there could be a debt money problem in the future.

“I believe that there would likely be a pending debt money problem. I want to steer away from debt assets like bonds and debt and have some hard money like gold and bitcoin,” Dalio said.

The billionaire further explained that debt, money, the economy, acts of nature, and the invention of new technologies are the forces driving everything in the world. Other factors, such as countries’ political and external geopolitical orders, could contribute significantly. 

Judging by Dalio’s preference for BTC and gold, he believes these assets are the best for preserving wealth as the world reacts to these forces.

“Don’t get too caught up on the twists and turns of the day-to-day headlines, and instead, think more about the big forces. Think strategically as well as tactically, taking a global perspective while recognizing that what you don’t know about the future is more than what you do know,” the Bridgewater founder added.

BTC Exceeds Dalio’s Expectations

Dalio used to be a Bitcoin critic a few years ago. In 2020, he opined that the crypto asset is unlikely to perform as remarkably as people hoped. Bitcoin was worth around $15,000 at the time.

Four years later, Dalio has become a Bitcoin advocate and now considers the cryptocurrency a better option than debt assets, especially with BTC crossing $100,000 for the first time.

@ Newshounds News™

Source:  CryptoPotato

~~~~~~~~~

ROGER VER CLAIMS US TARGETS HIM FOR BITCOIN ADVOCACY, NOT TAXES

Roger Ver, also known as “Bitcoin Jesus,” contests US DOJ tax evasion charges, alleging political retaliation over his crypto advocacy.

Roger Ver, widely known as “Bitcoin Jesus” for his early promotion of cryptocurrency, is contesting charges made against him by the United States Department of Justice (DOJ).

Ver, who renounced his US citizenship in 2014, was arrested in Spain in April. US authorities are seeking his extradition on charges including tax evasion, mail fraud and filing false tax returns.

Prosecutors claim Ver undervalued his assets and failed to report ownership of about 131,000 Bitcoin. He denied the allegations in an interview with Tucker Carlson on Dec. 10.

“I wasn’t an American citizen or living in the US at the time these claims were made,” Ver said. He accused the US government of being “angry” not about taxes but about his “lack of obedience.”

Legal history

According to the DOJ, Ver failed to report significant capital gains from Bitcoin sales and underreported the value of two companies when he renounced his US citizenship in 2014.

Prosecutors allege Ver concealed 131,000 BTC, worth nearly $240 million at the time of sale in 2017, leading to a $48 million tax shortfall.

Ver’s defense argues the allegations are outdated and stem from ambiguous cryptocurrency tax laws. His legal team also contends that US prosecutors misused confidential communications and violated legal protections.

Political retaliation claims

In the interview with Carlson, Ver insisted that the charges don’t stem from tax charges but from his high-profile promotion of cryptocurrencies, which he believes threatens government control of money systems.

He also said that US intelligence agencies orchestrated a campaign to suppress BTC’s original goal of decentralization.

The Bitcoin evangelist also linked his indictment to the recent publication of his book, which he claimed exposes government interference in the cryptocurrency industry.

Tax evasion charges dismissal

On Dec. 3, Ver moved to dismiss the US tax evasion charges by claiming the case was “unconstitutional” and arguing that the Internal Revenue Service’s (IRS) exit tax was “inscrutably vague.”

In the filing, he said that the charges relied on “provisions of the US tax laws” that were unclear about the “application to digital assets of the kind that underlie the charges.”

The IRS exit tax requires that US citizen pay all required taxes before renouncing their citizenship and removing themselves from the country’s taxation system.

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

CHRISTMAS CALL FROM OUR FAMILY TO OKIE AND ALL!  |  Youtube

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EL SALVADOR TO EXTEND CRYPTO AGREEMENTS BEYOND ARGENTINA

El Salvador partners with Argentina to strengthen the digital assets industry, and has talks underway with over 25 nations for similar partnerships.

El Salvador signed a mutual agreement with Argentina to help both countries strengthen their digital asset industries. The Bitcoin-friendly nation is also discussing similar agreements with over 25 other countries.

On Dec. 11, Juan Carlos Reyes, president of the National Commission of Digital Assets (NCDA) in El Salvador, announced the signing of a mutual collaboration and training agreement with Roberto Silva, president of Argentina’s National Securities Commission (CNV).

Speaking to Cointelegraph, Reyes said Argentina’s robust and innovative blockchain industry and El Salvador’s technological expertise will “create a highly productive partnership.”

Highlighting El Salvador’s three-year advantage over most countries in digital assets regulation, Reyes said, “One of the most significant immediate benefits will be information sharing, particularly since we have Argentine companies registered in El Salvador.”

Symbiotic partnerships for mutual benefit

El Salvador plans to refine its own regulatory framework and improve its understanding of the digital assets market through its partnership with Argentina. Additionally, Reyes told Cointelegraph that El Salvador regulators are in talks with multiple nations for similar crypto-focused partnerships:

“We are currently in discussions with over 25 countries and anticipate many more agreements in the future. As a regulator, we recognize that our approach may be unconventional since we are not what they are used to a central bank or other legacy entity, which has led to some delays in understanding how we can collaborate with other countries.”

El Salvador seeks cross-border collaboration to further crypto adoption

To effectively collaborate with other nations, El Salvador has set up a team of over 20 members comprising Bitcoin experts and crypto-literate individuals.

Reyes strongly advised against delaying establishing rules and following Financial Action Task Force (FATF) recommendations, giving a clear message to regulators in other jurisdictions:

“The longer you wait, the more challenging it becomes to implement effective regulations, and the greater the risk of scams and money launderers gaining control of the industry.”

 Reyes also told Cointelegraph that El Salvador is “nearing completion of two more agreements with other countries,” emphasizing his team’s commitment to helping any nation interested in collaborating with El Salvador.

 “Our experience has shown that cross-border knowledge sharing is essential for creating a safe and effective regulatory environment, and we encourage other regulators to prioritize this approach,” he said.

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

DONALD TRUMP CONSIDERING A16Z CRYPTO POLICY HEAD FOR CFTC ROLE: BLOOMBERG

While Brian Quintenz was a CFTC commissioner, he oversaw the launch of the first regulated Bitcoin and Ethereum futures contracts.

President-elect Donald Trump is reportedly considering Brian Quintenz, a former Commodity Futures Trading Commission (CFTC) commissioner, to lead the agency.

Currently serving as the policy lead for VC giant Andreessen Horowitz’s crypto division, Quintenz has emerged as a frontrunner among candidates, according to sources cited in Bloomberg's report.

An announcement is expected in the coming days following the conclusion of interviews for the chair position.

Other candidates reportedly include current CFTC Commissioners Summer Mersinger and Caroline Pham, as well as legal experts Joshua Sterling and Neal Kumar.

If selected, Quintenz would bring a wealth of experience from both the public and private sectors.

During his tenure at the CFTC, he oversaw the launch of the first regulated Bitcoin and Ethereum futures contracts and promoted discussions on decentralized finance (DeFi).

Quintenz’s pro-innovation stance complements Trump’s apparent focus on fostering a supportive environment for the crypto industry, which played a significant role in the 2024 elections.

Andreessen Horowitz alone donated $25 million and $23 million, respectively, to pro-crypto political candidates through its political action committee, Fairshake.

Since joining a16z Crypto, Quintenz has remained an outspoken advocate for crypto-friendly policies, calling for regulations tailored to blockchain technology.

He has criticized the U.S. Securities and Exchange Commission’s (SEC) approach as overly restrictive, noting that the crypto ecosystem needs rules “fit for purpose” to realize its full potential.

“I think what the crypto ecosystem wants is rules that fit its technology, that are fit for purpose, that allow for the innovation to actually reach its full potential,” Quintenz said in a 2022 interview with Decrypt. “You’re not getting that out of the SEC.”

The CFTC chair position is critical as the agency is expected to tackle major policy shifts, particularly amid jurisdictional tensions with the SEC.

If confirmed, Quintenz would oversee a regulatory environment primed for change.

@ Newshounds News™

Source:  Decrypt

~~~~~~~~~

WANT AN EPIC CHRISTMAS PARTY? WATCH THIS NOW!  |  Youtube

A live recorded call for Okie from the members of Seeds of Wisdom Team.

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Seeds of Wisdom RV and Economic Updates Wednesday Evening 12-11-24

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US DEMS CHOOSE LEADERSHIP FOR COMMITTEES CRUCIAL TO CRYPTO POLICY

Republican lawmakers are also expected to choose leadership roles for Senate and House committees soon.

Democratic lawmakers have selected ranking members of key committees going into the 119th United States Congress as the party prepares to be in the minority.

In a Dec. 11 notice, Democrats said California Representative Maxine Waters would continue to serve as the ranking member of the House Financial Services Committee into 2025 as the new Congress is sworn in.

The House committee is responsible for legislation and policies affecting the financial services sector, including the cryptocurrency industry.

North Carolina Representative Patrick McHenry, a Republican, will chair the committee until Jan. 3, when he will leave office. Representative Waters has been acting as the committee’s ranking member — the highest leadership position for a party in the minority — since January 2023, when Republicans took a majority of seats in the House.

With McHenry’s impending departure, a few Republicans are under consideration as the next committee chair, including digital assets subcommittee chair French Hill. Lawmakers in the party are expected to decide on leadership positions in the next seven days.

Republicans will take control of the banking committee

With Democrats also losing their majority control of the Senate in January, the party is restructuring its roles for other committees impacting crypto policy. Massachusetts Senator Elizabeth Warren announced after winning her election against Republican John Deaton that she would be the ranking member of the Senate Banking Committee.

The banking committee provides oversight of the US Securities and Exchange Commission and regulators relevant to the crypto industry. Ohio Senator Sherrod Brown, a vocal digital asset skeptic who lost his reelection bid to Republican Bernie Moreno, will chair the committee until January.

Senator Tim Scott, the current ranking member of the banking committee, is poised to be the next chair. The South Carolina lawmaker said at the Bitcoin 2024 conference in July that he would support pro-crypto legislation as chair if Republicans won a majority in the chamber.

Committee providing oversight of CFTC also changing hands

In the Senate Agriculture Committee, currently chaired by Democratic Senator Debbie Stabenow and Republican John Boozman as the ranking member, there is also expected to be a shakeup in leadership following the results of the 2024 election.

Senator Stabenow announced in 2023 that she intended to retire at the end of her term, leaving the door open for Democratic Senator Amy Klobuchar to potentially replace her as ranking member of the committee starting in January. Boozman is also expected to step up as chair.

The agriculture committee has oversight authority of the Commodity Futures Trading Commission, one of the agencies responsible for regulating aspects of the crypto industry. If the Financial Innovation and Technology for the 21st Century Act is signed into law in the next Congress, the CFTC could have more significant influence over digital assets than the SEC.

@ Newshounds News™

Source: CoinTelegraph 

~~~~~~~~~

CRYPTO NEWS INDIA: DIGITAL RUPEE TO TRANSFORM PAYMENTS, SAYS OUTGOING RBI GOVERNOR

▪️Outgoing RBI Governor envisions CBDCs replacing paper money for efficient transactions.

▪️Shaktikanta Das calls for careful phased rollout after sufficient research and user data.

▪️Digital rupee expansion targets instant settlements with Asian and Middle Eastern partners.

India is stepping into a new era of finance with the introduction of the digital rupee, a Central Bank Digital Currency (CBDC). Retiring Reserve Bank of India (RBI) Governor Shaktikanta Das recently shared his vision for this groundbreaking currency and how it could reshape the country’s economy.

A Vision for Change

In his farewell speech on December 10, Das spoke about the digital rupee’s potential to revolutionize payments in India. He explained that it could reduce dependence on paper money and make transactions faster and more efficient.

“The RBI, among the central banks, is a pioneer,” Das said, highlighting the institution’s leadership in CBDC development.

India has already taken significant steps toward adopting the digital rupee. The RBI has launched pilot projects, placing India ahead of many countries still in the testing phase. These pilots mark India as a global leader in exploring the possibilities of CBDCs.

Careful and Steady Rollout

Das thinks CBDCs could be very helpful, not only for payments in India but also for transactions between countries. While Das expressed excitement about the digital rupee’s future, he emphasized the need for a slow and steady rollout. He stressed the importance of conducting more research to ensure the currency integrates smoothly into the economy.

Beyond its use in domestic payments, Das also highlighted the digital rupee’s potential for international transactions. He pointed out that India’s payment platform already supports countries like Sri Lanka, Bhutan, and Nepal, laying the groundwork for cross-border CBDC adoption.

New Leadership, New Challenges

As Sanjay Malhotra steps in as the new RBI governor, markets are watching closely to see how he navigates India’s financial challenges. With inflation and economic growth at the forefront, Malhotra’s decisions will play a crucial role in shaping the digital rupee’s future and driving India’s financial transformation.

Under strong leadership and with careful planning, the digital rupee has the potential to revolutionize the way India—and eventually the world—handles payments and transactions.

@ Newshounds News™

Source:  Coinpedia

~~~~~~~~~

HIDDEN TRUTH ABOUT LAND DEEDS  |  YOUTUBE

Mason, Amy, and Lowtide share information about deeds.

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ICMA ISSUES DLT BONDS REFERENCE GUIDE

Today the International Capital Market Association (ICMA) published a reference guide for DLT based digital debt, or digital bonds. While it describes it as 50 practical questions, the figure is closer to three times that. Despite that, for those familiar with the topic it’s a quick read and provides an excellent planning and execution guide.

The document is the product of ICMA’s DLT Bonds Working group, which is chaired by Union Investment’s Christoph Hock.

“The token economy, and DLT-based bonds in particular, have become increasingly more relevant in recent months,” said Mr Hock, alluding to the recent Eurosystem wholesale DLT settlement trials in central bank money which helped to ramp up activity.

He continued, “Where currently we see a high degree of fragmentation across the value chain, we look forward to greater collaboration and standardisation, which will play a key role in further building the token universe. With its DLT Bonds Reference Guide, ICMA and all involved parties have made a great step in this direction.”

As an asset manager, Union Investment has been one of the most prolific investors in digital bonds, starting with the European Investment Bank’s (EIB) inaugural bond back in April 2021. The EIB has now issued six digital bonds, including two in November as part of the ECB DLT settlement trials.

The guide is a little biased towards Europe, but that’s where the vast majority of issuances have taken place, particularly in Germany and Switzerland. For Europe, Luxembourg is the legal jurisdiction of choice. There have been hardly any issuances in North America, partly the result of custody issues with the SEC’s SAB 121.

In February Hong Kong issued a multi currency bond of more than $750 million, the largest DLT bond to date. However, Germany’s KfW has issued two larger digital bonds totalling €8 billion on Clearstream’s D7 platform.

Technically, as they used a CSD, under German law the KfW bonds are not ‘crypto’ bonds. That’s despite D7 using Digital Asset’s Canton infrastructure. These sorts of questions are included in the reference guide.

ICMA also collaborated with the Monetary Authority of Singapore on the Guardian Fixed Income Framework published last month.

@ Newshounds News™

Source:  Ledger Insights

~~~~~~~~~

'CONSUMERS EXPECT IMMEDIATE AND EFFICIENT TRANSACTIONS': TOKENIZATION GAINS MOMENTUM

▪️Tokenization is merging traditional finance and blockchain, creating new opportunities for financial innovation.

▪️Panelists discuss regulation and future potential.

Integrating real-world assets into blockchain systems opens new possibilities in the digital asset space. At the recent Benzinga Future of Digital Assets event, panelists explored the intersection of traditional finance and blockchain, highlighting how tokenization creates opportunities for financial innovation and accessibility.

Bridging the Old and New

Panelist Robert Leshner, CEO of Superstate, emphasized the potential of tokenization to merge conventional financial markets with blockchain technology. “We're seeing firms like Superstate act as bridges between the two by taking traditional assets, creating a token, and moving them on-chain,” Leshner said. This shift is beginning to blur the lines between digital and traditional financial systems.

Emma Marriott, co-founder of Atomic, also noted the increasing demand for streamlined integration. "Consumers expect immediate and efficient transactions," she said, pointing to Atomic's role in enabling smooth transitions between traditional and digital asset platforms. "We're helping firms expand their offerings to meet these expectations, whether they're moving from crypto to traditional assets or vice versa."

Driving Institutional Interest

Institutional players closely watch these developments, particularly how tokenized assets can enhance portfolio diversification and liquidity. Leshner explained how tokenization allows assets to be used across various decentralized finance (DeFi) protocols. “We're starting to see assets that began entirely within the crypto ecosystem now being joined by tokenized versions of traditional financial instruments," he said.

Charlie Sandor, investment partner at CMT Digital, highlighted the broader implications of tokenization for financial efficiency. “Platforms like Coinbase are facilitating payment networks between off-chain and on-chain systems, demonstrating how these worlds are merging in ways that were unthinkable just a few years ago,” he said.

Regulation and Adoption

Panelists also addressed the regulatory hurdles that continue to shape the adoption of tokenized assets. Leshner acknowledged that while the potential is vast, compliance remains a critical challenge. "We're at an early stage of understanding what open and autonomous financial markets look like," he said, adding that creating frameworks that satisfy both traditional compliance standards and blockchain's decentralized ethos is essential for future growth.

Marriott echoed this sentiment, pointing to the role of regulation in driving consumer trust. "As firms navigate these regulatory challenges, they're building the infrastructure needed to make these systems more accessible and trustworthy for everyday users," she said.

Looking Ahead

The panel concluded by focusing on what lies ahead for tokenization and its role in the financial ecosystem. Leshner predicted a rise in highly controlled and permissioned assets within DeFi platforms. "These systems will evolve to accommodate both traditional and decentralized markets, creating hybrid models that leverage the strengths of both," he said.

With traditional and blockchain-based systems converging, tokenization is poised to transform how assets are managed, traded, and utilized. The panelists agreed that this transformation is just beginning, with 2025 expected to bring significant progress in integrating real-world assets into blockchain ecosystems.

@ Newshounds News™

Source: Benzinga

~~~~~~~~~

MASON DEBUNKED TRUMP'S CRAZIEST CLAIMS AND HERE'S WHAT I FOUND  |  Youtube

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BRICS NEWS: EXPERT SAYS NATIONS WILL EVENTUALLY DITCH US RESERVES FOR BITCOIN

With the ongoing tension between the BRICS alliance and the United States, one expert has theorized that most nations will eventually end up ditching US dollar reserves for Bitcoin. Indeed, economist Jeremy Siegel recently noted that the leading crypto has emerged as a threat to the greenback’s global standing.

Senior economist at WisdomTree, Siegel, discussed the curiosity of Trump’s continued embrace of Bitcoin. Specifically, he noted that the asset class is far more dangerous to the US dollar’s dominance than gold or any BRICS currency, according to a Benzinga report.

Expert Says Bitcoin, Not BRICS, Is Greatest Threat to US Dollar

Since 2022, when Russia invaded Ukraine, the BRICS bloc has been on a mission. Specifically, the collective has sought ways to ditch the US dollar in international trade.

Moreover, it has moved to lessen the global reliance on the Western currency. These decisions appeared made out of necessity. With the West sanctioning Russia, forcing it to rely on allies in the global south.

Yet, those de-dollarization plans have been confronted by President-elect Donald Trump. Moreover, with 100% tariffs planned under the returning president, things have certainly gotten interesting. For one economist, the incoming commander-in-chief’s position appears inconsistent, to say the least.

Indeed, amid the BRICS scuffle, finance expert Jeremy Siegel has said nations will likely eventually ditch the US dollar reserves for Bitcoin. What makes that interesting is that Trump has recently paraded BTC’s all-time increase above the $100,000 mark.

“I found it curious that Trump threatened 100% tariffs for the BRICS nation wanting to implement a new reserve currency, while also championing the rise of Bitcoin’s price surpassing $100,000 and attributing it to his pro-crypto world view,” Siegel said.

“Bitcoin is viewed by many as an alternative global currency similar to what the BRICS are looking to achieve,” he added. “Bitcoin is far more of a threat to replace the dollar in world reserves than anything created by the emerging market economies.”

The asset’s recent surge supports Siegel’s position. Bitcoin has been skyrocketing in value and is projected to reach $200,000 next year. Trump’s pro-BTC position could fuel global accumulation. Therefore, driving even more countries away from the dollar.

@ Newshounds News™

Source: Watcher Guru

~~~~~~~~~

HONG KONG LOOKS TO SPEED UP CRYPTO REGULATION AMID RISING SECTOR DEMANDS

Hong Kong is exploring ways to expedite updates to its crypto regulations in response to the fast-growing global sector.

The fast growth of the crypto sector is pushing Hong Kong to reconsider its regulations, with talks focused on speeding up changes to meet growing industry needs. A proposal raised in the Legislative Council on Dec. 11 highlights the pressure on the government to keep up with the global rise in crypto investments.

In a written response, Acting Secretary for Financial Services and the Treasury, Joseph Chan, admitted that while the virtual assets sector offers financial innovation opportunities, it also presents new “complexities to the financial system.” 

He emphasized Hong Kong’s commitment to keep up with international standards, noting that the city “has key influence in the regulation and development of VA.”

However, Chan didn’t go into detail on how or when Hong Kong plans to adjust its crypto regulations to stay competitive.

Moreover, some lawmakers have even raised concerns about the need for a more comprehensive approach. There is speculation that Hong Kong could establish a dedicated department or commissioner to oversee crypto policies, following international trends.

One way or the other, the question of whether cryptocurrencies like Bitcoin should be included in Hong Kong’s fiscal reserves still seems to be open. In the meantime, Chan pointed out that crypto-assets are not currently a target asset for Hong Kong’s Exchange Fund.

“It cannot be ruled out that there may be investments involving crypto-assets during the investment operations of the external managers at different points of time, but the relevant proportion is minimal,” Chan said.

@ Newshounds News™

Source: Crypto News 

~~~~~~~~~

BINANCE AND CIRCLE ANNOUNCE STRATEGIC PARTNERSHIP TO ADVANCE GLOBAL CRYPTO ADOPTION

Key partnership between Binance and Circle seeks to accelerate the adoption of USDC and digital assets worldwide.

Binance and Circle Join Forces for Global Crypto Adoption

A new strategic partnership between Binance and Circle Internet Group was launched at the Abu Dhabi Finance Week. The cooperation will increase the use of USD Coin (USDC) and promote the growth of the global digital assets and financial services ecosystem.

This partnership combines a reliable and compliant digital currency with the biggest platform for using digital assets globally, thanks to USDC’s expansion and widespread use.

Through the collaboration, Binance will expand the availability of USDC throughout their whole range of goods and services, guaranteeing that over 240 million Binance users worldwide can easily access and utilize USDC for applications related to trading, saving, and payments. Binance will also use USDC as a key dollar stablecoin for their corporate treasury.

Richard Teng, CEO of Binance shared his thoughts about the partnership.

“Through our strategic partnership, our users will have more opportunities to use USDC on our platform, including more USDC trading pairs, special promotions on USDC across trading, and other products on Binance.

We will also work closely with Circle to drive innovation and utility for stablecoins globally. Working together as a team, we believe we can materially push forward the possibilities for the internet financial system.”

Jeremy Allaire, Chairman and CEO of Circle echoed Teng’s thoughts on the partnership.

“With Binance rapidly becoming the world’s leading financial super app, this is a tremendous opportunity for USDC as it becomes ubiquitous on the Binance platform. I’m thrilled to be working with the Binance leadership team as they continue to build the largest digital asset company in the world.”

This partnership aims to consolidate the role of USDC in digital payments, promising broader adoption and innovation in the crypto space.

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Source:  Bitcoin News

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Seeds of Wisdom RV and Economic Updates Tuesday Evening 12-10-24

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RIPPLE (XRP) RECEIVES FINAL APPROVAL FROM NYDFS FOR RLUSD
Ripple Labs (XRP) has officially received final approval from the New York State Department of Finance (NYDFS) for its stablecoin RLUSD. 

Ripple’s CEO Brad Garlinghouse made the announcement in a post to X Tuesday afternoon, revealing the latest achievement.

“This just in…” the announcement reads, “we have final approval from @NYDFS for $RLUSD! Exchange and partner listings will be live soon – and reminder: when RLUSD is live, you’ll hear it from @Ripple first.” The news means that we may see the arrival of RLUSD as soon as this month.

Following its years-long legal battle with the SEC, Ripple has flourished in the final months of 2024. The company’s native cryptocurrency is now the fifth largest in the world by market cap. Ripple Labs’ decision to launch a stablecoin was also met with optimistic ears earlier this year.

The coin has been ready for some time and could see its door to New York City, one of the finance capitals of the world, open up soon.

Over the past month, Ripple Labs has seen plenty of success, especially with its native cryptocurrency XRP. The asset is up over 200% in the last 30 days. The XRP Ledger has also seen significant success, especially on the world stage. 

Last month, the software company made waves in BRICS countries India and Russia. The Russian government has taken a significant step in digital asset regulation, passing a bill recognizing XRP and other cryptocurrencies. The bill also established a clear taxation framework for crypto.

In addition, the Reserve Bank of India (RBI) also announced a collaboration with Ripple Labs for the virtual Rupee initiative.

Ripple RLUSD To Pump XRP Price?

The arrival of RLUSD is also expected to further pump XRP Price. Currently, XRP is trading at $2.255, up 7% in the last hour alone. With Christmas around the corner, the market is also getting into the festive spirit, with investors hoping that the realm would favor their XRP investments more seriously.

Predictions have been raised for the asset over the remainder of the year, with projections touching near $3, contains the assets surge. Should the Ripple stablecoin RLUSD launch in the next week, expect Ripple to see further growth.

Garlinghouse has yet to provide an estimated launch date for the stablecoin. However, the NYDFS’ approval is a great sign. https://watcher.guru/news/ripple-xrp-receives-final-approval-from-nydfs-for-rlusd

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Source:  Watcher Guru

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EU’S MICA CRYPTO RULES: WILL THE DECEMBER DEADLINE DISRUPT STABLECOINS?

Several EU countries are struggling to implement MiCA regulations on time, potentially disrupting the crypto market.

The December deadline for crypto service providers and stablecoin issuers is causing concerns, with industry groups calling for a delay.

MiCA's regulations on stablecoins, especially the volume limits, aim to protect the Euro's dominance and could impact the broader crypto market.

The European Union’s new cryptocurrency regulations, known as MiCA (Markets in Crypto-Assets), are set to take effect by the end of the year.

These rules aim to create a unified framework for crypto operations across Europe. However, many countries are behind in updating their local laws, raising concerns about disruptions—especially for stablecoins.

Nations Falling Behind

Countries like Belgium, Italy, Poland, Portugal, Luxembourg, and Romania haven’t yet adjusted their laws to align with MiCA. This delay puts crypto businesses in these regions at risk of missing the December deadline, which could slow down the rollout of the EU-wide regulations.

In Poland, the proposed legislation is stuck in committee. Portugal is debating how to divide responsibilities between regulators. Belgium is waiting on political decisions, while Ireland’s Central Bank has started processing applications but warns the process will take time. Similarly, Malta, Italy, Cyprus, and Lithuania face delays, with Malta needing to update its crypto laws to meet MiCA’s requirements.

A Unified Vision for Crypto Regulation

MiCA’s goal is to create consistent rules for crypto service providers, such as exchanges, custodians, and wallet operators, across the EU. To continue operating, businesses must secure licenses from their national regulators. However, many regulators are struggling to process these applications in time, creating uncertainty as the deadline approaches.

The implementation is split into two phases.

The first phase began in June and required stablecoin issuers to obtain authorization. The second phase, with a December deadline, focuses on licensing crypto service providers like exchanges and wallet providers.

Industry Calls for More Time

Crypto industry groups are asking for an extension to the December deadline, arguing that the short time frame between the finalization of technical standards in October and the compliance deadline isn’t enough. They propose a six-month extension to help regulators manage the flood of applications and prevent disruptions to crypto businesses.

The European Securities and Markets Authority (ESMA) is set to meet on December 11 to review the situation. While updated guidance may be provided, no official delay has been confirmed. If the deadline remains, some firms may need to pause operations in the EU.

For individual users, the immediate impact is expected to be minimal, but these adjustments are part of the growing pains in the evolving crypto space.

A Big Threat to Stablecoins?

Under MiCA, stablecoins face strict rules designed to limit their volume and prevent them from competing with the Euro. Since many stablecoins are pegged to the USD, these regulations could significantly impact their use in Europe. Starting in December, stablecoin issuers will need e-money licenses from at least one EU country.

While larger players like Circle are already meeting these requirements, smaller issuers may struggle. These changes could set a precedent for stricter rules on other tokens seen as not sufficiently decentralized, signaling more oversight for the crypto industry in the future.

What happens in December might not just affect Europe but could redefine the rules for crypto everywhere.

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Source: Coinpedia 

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Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 12-10-24

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USDT IS NOW APPROVED AS ACCEPTED VIRTUAL ASSET IN ABU DHABI

Tether has announced that Abu Dhabi’s Financial Services Regulatory Authority has approved the company’s U.S. dollar-pegged stablecoin as an accepted virtual asset.

According to the announcement on Dec. 10, Tether is now available to authorized individuals and entities regulated within the Abu Dhabi Global Market. FSRA is a market regulator in Abu Dhabi under the Abu Dhabi Global Market. The FSRA is a market regulato r under the ADGM, which operates as a financial-free zone in the United Arab Emirates.

USDT’s approval is part of FSRA’s mandate to regulate virtual asset service providers in the country. VASPs are required to comply with anti-money laundering and combating the financing of terrorism regulations.

In its announcement, Tether stated that the approval enables FSRA-licensed individuals and entities to offer USDT-powered services in the region. The agency pre-approves such services. With this acceptance, users within the ADGM can use USDT on Ethereum, Solana, and Avalanche.

Paolo Ardoino, chief executive officer of Tether, commented:

“This milestone underscores Tether’s commitment to fostering global financial inclusion and innovation. By bringing USD₮ to the forefront of ADGM’s regulated virtual asset framework, we are not only validating the importance of stablecoins as critical tools for modern finance but also opening new doors for collaboration and growth across the Middle East.”

USDT is the world’s largest U.S. dollar-pegged stablecoin, with a market cap of over $138 billion. Its adoption across the payments market and crypto space has allowed it to dominate other stablecoins, contributing to Tether’s record-breaking revenue figures.

Tether also revealed in a report on Dec. 9 that on-chain wallets with USDT exceeded 109 million at the start of the fourth quarter of 2024. Meanwhile, total wallets that have ever received USDT has surpassed 400 million.

Elsewhere, the Middle East and North Africa region has increasingly become a key market.

In May this year, Tether announced its expansion in the UAE via a partnership with web3-focused platform RAK Digital Assets Oasis. The collaboration aimed at promoting adoption of  Bitcoin and stablecoins in technology in UAE’s sixth-largest city Ras Al Khaimah.

In August, Tether revealed plans for a dirham-pegged stablecoin.

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Source:  Crypto News

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MICROSOFT SHAREHOLDERS REJECT PROPOSAL TO ADD BITCOIN TO RESERVES

Shareholders opposed the motion, pointing to bitcoin’s volatility as a key concern.  Microsoft’s history with the world’s largest cryptocurrency has been cautious.

Microsoft shareholders voted to reject a resolution to add Bitcoin to the company’s balance sheet during its annual meeting on Tuesday.

The resolution was proposed by the National Center for Public Policy Research (NCPPR), a pro-free-market think tank based in Washington, D.C. The NCPPR framed the initiative as a corporate responsibility to diversify profits and enhance shareholder value.

As part of the proposal, a pre-recorded video was presented during the meeting. The video opened with the statement, “Microsoft can’t afford to miss the next technology wave, and bitcoin is that wave." The decision to reject the proposal aligns with the board’s recommendation, which emphasized Microsoft’s existing strategy of evaluating a wide range of investable assets, including bitcoin, within it  broader investment framework.

The recent arrival of new derivatives trading solutions, including options on the black rock ETF are only likely to strengthen that narrative as is the burgeoning liquidity on those and other venues around the world alongside the relatively newer role of bitcoin as a capital markets activity catalyst as evinced in recent convertible bond issuance by a number of the digital asset industries larger players.

Microsoft’s history with bitcoin has been cautious. The company briefly accepted the cryptocurrency as a payment method in 2014 but suspended the option in 2016, citing low usage and regulatory uncertainties. Today's result aligns with the views of Microsoft co-founder Bill Gates, who has been a vocal critic of cryptocurrencies.

Bitcoin experienced a 3% pullback over the past 24 hours, adding to broader uncertainty in the cryptocurrency market. The global cryptocurrency market cap declined by almost 5% in the same period, now standing at $3.73 trillion, according to CoinGecko data.

Despite Microsoft’s stance, discussions around bitcoin adoption at the corporate level are becoming increasingly common. Cryptocurrency derivatives trader Gordon Grant noted the significance of these debates.

"The fact that we are having conversations about whether one of the world's largest entities could or should maintain a position in bitcoin on its balance sheets as a financial principal says far more about the arrival of bitcoin as a tier one asset, than the actual outcome of the decision," Grant told The Block.

Grant also highlighted the growing interest in bitcoin as a capital markets catalyst, pointing to recent convertible bond issuances by MicroStrategy as evidence of bitcoin’s evolving role in financial markets.

"Utilization of bitcoin as a financial diversifier, as a conveyance for the transfer of monetary value, and as a vector for what MicroStrategy's Michael Saylor has called global digital capital, continues to gain currency," Grant said.

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Source:  The Block

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