Seeds of Wisdom RV and Economic Updates Monday Morning 9-30-24
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CHINA-RUSSIA CRYPTO PACT: A NEW THREAT TO US DOMINANCE?
The China-Russia crypto pact is worrying some experts. It could challenge the US’s dominance and bring some new security risks to the cryptocurrency market. Global stability could be at stake as tensions grow around the world.
Navigating Security Risks and Cryptocurrency Market Dynamics and Growing Peril of Chinese-Russian Cooperation
Frederick Kempe, CEO of the Atlantic Council, highlighted key issues at the UN General Assembly. He stated:
“Two dark clouds hung over the United Nations General Assembly this week in New York. The first was the growing peril of Chinese-Russian common cause. The second was uncertainty about whether US leadership will rise to the challenge after the November elections.” This reflects the influence of the China-Russia crypto pact as well.
The US has sanctioned over 300 Chinese firms recently, but China’s behavior hasn’t changed. In Russia’s Dagestan region, crypto miners are going underground. Local Prime Minister Abdulmuslimov noted:
“The owners of illegal cryptocurrency mining installations are coming up with new methods of ‘circumventing’ the law – they install mining farms underground,” influenced by the China-Russia crypto pact.
Global Security Implications
Former Secretary of State Condoleezza Rice sees our era as more dangerous than the Cold War. Kempe reported her concerns about “the gathering global threats running up against the perils of what she called ‘the four horsemen of the Apocalypse—populism, nativism, isolationism, and protectionism.'” Such concerns are exacerbated by the China-Russia crypto pact.
Cryptocurrency Regulation in Russia
Russia will enforce new crypto mining laws from November 1, 2024. The finance ministry will keep a list of approved crypto-mining companies. The influence of the China-Russia crypto pact is expected to be a significant factor in these new laws.
US Response and Future Outlook
The US plans to keep pressuring China for supporting Russia. Nicholas Burns, US ambassador to China, stated:
“We’re not going to stand by as China significantly helps Russia strengthen [not only] its armaments potential, but also its defense industrial base.” The crypto pact further complicates this stance.
The China-Russia crypto pact is a big challenge to US dominance. As cryptocurrency markets grow, global politics are changing. This could reshape how money moves around the world.
@ Newshounds News™
Source: Watcher.Guru
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FORMER CHINESE FINANCE MINISTER URGES STUDY OF CRYPTOCURRENCY MARKETS
Former Chinese finance minister Zhu Guangyao calls for closer study of cryptocurrencies, citing global developments and potential economic importance.
▪️Former Chinese finance minister calls for closer study of crypto
▪️Cites Trump’s campaign remarks as reason for Beijing to pay attention
▪️Acknowledges risks but calls crypto crucial to digital economy
▪️Notes SEC approval of Bitcoin and Ethereum ETFs
▪️Contrasts mainland China’s caution with Hong Kong’s crypto embrace
Zhu Guangyao, China’s former minister of finance, has called on Beijing to pay closer attention to the cryptocurrency markets.
Speaking at a summit hosted by Tsinghua University, Zhu emphasized the need for the Chinese government to study recent international changes and policy adjustments in the crypto space.
The former minister’s remarks come in light of comments made by Republican presidential candidate Donald Trump on the U.S. campaign trail.
At the Bitcoin Conference in Nashville this July, Trump stated that the United States must fully embrace the crypto industry, warning that “China will do it” if America doesn’t take the lead.
Zhu highlighted Trump’s comparison of the crypto industry to the steel industry of a century ago, noting the candidate’s prediction that cryptocurrency might one day overtake gold.
This high-profile endorsement of crypto by a major U.S. political figure seems to have caught the attention of Chinese officials.
While acknowledging the potential of cryptocurrencies, Zhu also stressed the importance of recognizing the risks associated with them.
He stated that crypto “has negative impacts, and we must fully recognize its risks and the harm it poses to capital markets.” However, he balanced this caution by describing cryptocurrency as “a crucial aspect of digital economy development.”
The former finance minister also pointed to recent developments in the United States financial sector as a reason for China to reassess its stance on crypto.
Specifically, he mentioned the Securities and Exchange Commission’s (SEC) approval of bitcoin (BTC) and ether (ETH) exchange-traded funds (ETFs), despite initial opposition from the regulatory body.
This call for a closer examination of cryptocurrencies marks a potential shift in thinking among some Chinese officials. Mainland China has maintained a cautious approach to cryptocurrencies, with strict regulations in place.
However, Hong Kong, which operates under a semi-autonomous system of government and market regulations, has taken a more welcoming stance towards the crypto industry.
Hong Kong has recently listed bitcoin and ether ETFs, signaling a more open approach to cryptocurrency investments. Additionally, some members of Hong Kong’s mini-legislature have actively courted crypto businesses to set up operations in the city.
This divergence in approach between mainland China and Hong Kong highlights the complex landscape of cryptocurrency regulation in the region.
Zhu’s comments suggest that some Chinese officials may be reconsidering the country’s stance on cryptocurrencies in light of global developments.
The former finance minister’s call for further study indicates a recognition that the crypto industry is becoming an increasingly important part of the global financial landscape.
Newshounds News™
Source: Blockonomi
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RIPPLE & INDIA, PARTNER UP- $500T MARKET
Zach Humphries Tells us "Massive XRP news as Ripple & India, partner up- $500T Market. The oil industry is changing, and XRP is revolutionizing it." He states in the video that "Ripple is integrating XRP into Oil trading and cross border transactions using Saudi Arabia Banks."
@ Newshounds News™
Source: Twitter X
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DIGITAL FUSION SUMMIT UNITES FAMILY OFFICES AND INSTITUTIONAL INVESTORS TO EXPLORE DIGITAL ASSET OPPORTUNITIES IN DALLAS
Dallas, United States, Texas, September 28th, 2024, Chainwire
Event Highlights Strategies for Integrating Digital Assets into Traditional Finance Portfolios
On September 19th, the Digital Fusion Summit convened at the W Hotel - Victory in Dallas, Texas, bringing together family offices, institutional investors, and high-net-worth individuals for an exclusive event focused on the burgeoning digital asset class.
Hosted on the 33rd Floor Altitude Center, the summit provided a premier platform for education, networking, and strategic discussions at the intersection of traditional finance and digital assets.
Co-hosted by industry leaders Jake Claver and Max Avery of Digital Ascension Group and Syndicately, alongside Jordan M. Hutchinson, President and Managing Partner of Black Ocean Capital & Jest Events, and supported by team members Eric Ascione and Jedidiah Wick, the summit assembled experts to delve into opportunities, challenges, and investment strategies surrounding digital assets.
The event featured a series of panels and discussions addressing critical aspects of the digital asset landscape, including blockchain technology, cryptocurrency adoption, asset tokenization, and fintech innovations.
"What Digital Assets Really Mean for Family Offices: Strategy, Adoption, and Investment Opportunities"—This panel, moderated by Ray Fuentes, explored how family offices can develop effective strategies and assess value propositions in the digital asset space.
Panelists included thought leaders such as Jake Claver, Matthew Snider, Erin Friez, and Rustin Diehl, who shared insights on successful investment cases and adoption strategies within blockchain and cryptocurrency markets.
"Professional Service Providers for Digital Assets: Ensuring Security and Compliance"—Moderated by Rachel Wolfson, this discussion focused on the evolution of custody solutions, best practices for digital asset security, and navigating regulatory considerations in the cryptocurrency sphere.
Panelists Eric Ervin, Joe Medioli, and John Wingate offered valuable perspectives on the role of institutional custody in driving widespread adoption of digital assets.
"Fintech Companies Providing Liquidity to Private Investments: Opportunities and Challenges"—This panel, led by Ray Fuentes, delved into the potential of tokenizing real assets, legal considerations in asset tokenization, and successful case studies.
Industry specialists Lee Mosbacker IV, Connor McLaughlin, Jake Claver, and John Wingate shared their expertise on navigating early-stage investments in digital assets and the tokenization process, highlighting how fintech innovations are reshaping liquidity in private markets.
"Legal Innovations in Blockchain"—Rachel Wolfson moderated this discussion with legal experts Rick Tapia, Rustin Diehl, and Erin Friez to explore the evolving legal frameworks shaping the blockchain and cryptocurrency sectors. The panel examined intellectual property rights, compliance issues, and the impact of regulatory changes on the deployment of blockchain technology and digital assets.
The summit also featured keynote speeches from Joe Medioli of Anchorage Digital and Lee Mosbacker IV of Cyrannus, providing deeper insights into institutional digital asset services and the importance of liquidity in private markets. Their presentations underscored the critical role of secure, compliant, and efficient digital asset solutions in the financial industry's future.
Sponsors Cyrannus, Anchorage Digital, and Securitize for Advisors played a pivotal role in making the summit possible, demonstrating their commitment to advancing the digital asset ecosystem and supporting the integration of blockchain technology into mainstream finance.
The Digital Fusion Summit successfully bridged the gap between traditional finance and the digital asset landscape, offering attendees a comprehensive view of the opportunities and challenges in this rapidly evolving sector.
As digital assets, blockchain, and cryptocurrency continue to gain traction among institutional investors and family offices, events like this are crucial for fostering education, collaboration, and growth within the industry.
The success of this inaugural Digital Fusion Summit sets the stage for future events aimed at uniting traditional finance with the burgeoning world of digital assets. For those interested in attending upcoming events or learning more about opportunities in the digital asset space, the team at Digital Ascension Group welcomes inquiries.
To stay informed about future events and explore how your family office or institution can navigate the world of digital assets, please visit www.digitalfamilyoffice.io.
The team at Digital Ascension Group looks forward to fostering more insightful discussions and valuable networking opportunities in the digital asset sector.
@ Newshounds News™
Source: Investing News
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🌍 Dive Deeper into The Constitution: Fascinating Facts You Need to Know | Youtube
@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
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Seeds of Wisdom Team RV Currency Facts Youtube and Rumble
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