Seeds of Wisdom RV and Economic Updates Thursday Afternoon 3-20-25
Good Afternoon Dinar Recaps,
PRESIDENT TRUMP PLEDGES US LEADERSHIP IN CRYPTOCURRENCY AT DIGITAL ASSET SUMMIT
President Donald Trump outlined his administration’s vision for U.S. leadership in cryptocurrency and financial technology during the Digital Asset Summit.
Trump Touts Crypto as Key to U.S. Economic Growth
Addressing the summit’s attendees via video feed, Trump declared his commitment to making America the global center for digital assets.
“Together we will make America, the undisputed bitcoin superpower and the crypto capital of the world,” he stated. He also highlighted the recent White House Digital Asset Summit, where top crypto executives met with White House AI and Crypto Czar David Sacks.
Trump announced the creation of a strategic bitcoin reserve and a U.S. digital asset stockpile, a move aimed at maximizing the government’s holdings. “Instead of foolishly selling them for a fraction of their long-term value, which is exactly what Biden did,” he asserted.
The president also vowed to end what he described as the previous administration’s “regulatory war on crypto,” including halting Operation Choke Point 2.0. “It was a form of lawfare through government weaponization. Frankly, it was a disgrace,” he said, pledging that such policies ended on January 20, 2025.
Trump called on Congress to pass legislation establishing clear regulations for stablecoins and market structure, arguing that a strong legal framework would allow institutions to invest and innovate freely. “You will unleash an explosion of economic growth,” he told the audience.
He concluded by reinforcing his belief that crypto will drive financial innovation in the U.S. “It’s going to be right here in the USA, the good old USA,” he said.
@ Newshounds News™
Source: Bitcoin News
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XRP JUST HIT MAJOR MILESTONE WITH FIRST US REGULATED FUTURES
The first-ever regulated XRP futures in the U.S. are live, delivering compliant, physically settled contracts that enhance market integrity and strengthen price discovery.
Regulated XRP Futures Are LIVE in the US
Bitnomial, a U.S.-based digital asset derivatives exchange, has launched the first-ever U.S. Commodity Futures Trading Commission (CFTC) regulated futures contract for XRP, the company announced on March 20. The announcement states:
"This marks the first-ever CFTC-regulated XRP futures product in the United States, providing traders with a compliant, transparent, and capital-efficient way to gain exposure to XRP".
The newly introduced XRP US Dollar Myra (XRUY) Futures are designed to enhance market integrity by ensuring contracts are physically settled in actual XRP rather than cash. This approach strengthens price discovery by directly linking derivatives trading to the real supply and demand dynamics of XRP.
Along with the product launch, Bitnomial Exchange, LLC voluntarily dismissed its lawsuit against the U.S. Securities and Exchange Commission (SEC), which was initially filed in October 2024. The company shared:
"Bitnomial is also pleased to announce that yesterday, Bitnomial Exchange LLC filed a notice of voluntary dismissal of its case against the U.S. Securities and Exchange Commission (SEC)."
The lawsuit questioned whether Bitnomial’s XRP futures should be classified as security futures contracts. With the SEC’s evolving stance on crypto assets providing greater clarity, Bitnomial decided to withdraw the case, emphasizing the importance of regulatory certainty for fostering innovation in digital asset markets.
Bitnomial has been broadening its range of physically settled futures, now offering contracts on solana, avalanche, chainlink, bitcoin cash, litecoin, ethereum, polkadot, and hedera. The company detailed:
"Bitnomial’s physically settled futures ensure contracts are delivered in actual XRP upon settlement, distinguishing them from cash-settled alternatives that do not have direct interaction with the underlying asset."
“This structure enhances market integrity and strengthens price discovery by tying derivatives trading directly to XRP’s supply and demand dynamics,” the company added.
CEO Luke Hoersten highlighted the significance of physically settled contracts in reinforcing market transparency, while President Michael Dunn noted that the introduction of XRP futures solidifies Bitnomial’s role as a leader in regulated crypto derivatives trading.
Bitnomial’s announcement of launching the first CFTC-regulated XRP futures contracts came a day after Ripple CEO Brad Garlinghouse revealed that the SEC is dropping its appeal in the company’s long-running lawsuit over XRP.
@ Newshounds News™
Source: BitcoinNews
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