Goldilocks' Comments and Global Economic News Sunday Evening 6-2-24
Goldilocks' Comments and Global Economic News Sunday Evening 6-2-24
Good evening Dinar Recaps,
"This joint proposal from the Bank of England and the Financial Conduct Authority (together, “the UK regulators”) for a digital securities sandbox (“DSS”) reflects a commendable commitment to incorporating innovation into the financial system."
A letter was sent to the Digital Securities Sandbox joint Bank of England and Financial Conduct Authority regarding this consultation paper.
If all goes well in this pilot phase / sandbox movement forward, all would commence so long as the United States doesn't have anything further to add from the new Markets in Crypto Assets (MICA) regulations.
This consultation paper will be added to the current work taking place on legislation in Washington. See Rep. McHenry, Patrick T, H.R. 7440 – Financial Services Innovation Act of 2024, US Congress (Feb. 23, 2024).
The purpose of this consultation letter is to make it clear the intended role of the new Digital Financial/Payment System will take going forward.
The following is the stated purpose: "A sandbox is designed to generate real-world insights about whether distributed ledger technology (“DLT”) could streamline the issuance, trading, and settlement of securities without undermining investor protection, market integrity, or financial stability."
These new regulations under the authority of the FCA has the potential to change the way settlement processes are being done, and this concerted effort is to affirm coordinated actions inside of a sandbox to make sure the US and UK can coordinate and implement a final phase by the end of June when it becomes law. SEC Bank of England The Financial Conduct Authority DFSA
© Goldilocks
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We should see a lot of legislative bodies here in the United States and abroad get very active this month regulating and moving virtual assets into law inside the new Global Digital Economy.
© Goldilocks
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Chairman of the Finance Committee: We are ready to present the final report on the budget schedules | Iraqi News Agency
"Baghdad-INAThe Parliamentary Finance Committee announced today, Friday, that it will continue revision and reviewing the 2024 budget schedules to complete it on time in order to vote on them in Parliament, while confirming its readiness to present the final report on the budget schedules in next Monday's session."
This meeting on Monday is regarding budget schedules. No mention of exchange rate changes is expected to be a part of this meeting.
© Goldilocks
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How AI is Paving the Way for a New Era in Financial Services - The Global Treasurer
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Mastercard and HSBC Middle East accelerate travel payment innovation through bank’s first wholesale travel program | Mastercard
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In the Face of Unrelenting Change, Corporations Embrace Innovation and Leadership | The Global Treasurer
Corporations today must adapt to constant change to stay competitive, with corporate treasuries leading the charge in managing liquidity and risk.
The introduction of ISO 20022 marks a significant shift in corporate payments, offering a unified standard that promises enhanced transaction transparency and speed.
Corporate treasuries are redefining their strategies to leverage this standard, expanding their roles to include innovative technologies for efficiency and cost reduction.
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IMF Calls Zimbabwe's Switch To A Gold-backed Currency An "Important" Step | Pindula
The introduction of ZiG represents an important policy action accompanied by several complementary policy changes — including monetary, exchange rate, and fiscal policy measures.
Having a gold standard stabilizes prices and foreign exchange rates.
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US unveils policy to boost carbon offset market integrity | Reuters
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As society accelerates its decarbonization journey, the resource inputs necessary for this energy transition are appreciating in value. This article will spotlight the pivotal role of copper in this transition and the ETF solutions that enable investors to tap into this burgeoning market. | ETF Market
👆 Goldilocks pointed to this article
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