News, Rumors and Opinions Tuesday 1-14-2025

Ariel: The New Forex Currency Trading Options Announced

1-14-2025

The New Forex Currency Trading Options Announced

The New World Of Banking

IQD – Iraqi Dinar

CNY – Chinese Yuan Renminbi

NGN – Nigerian Naira

UZS – Uzbekistani Som

IDR – Indonesian Rupiah

KRW – South Korean Won

COP – Colombian Peso

VND – Vietnamese Dong

IRR – Iranian Rial

PLN – Polish Złoty

KGS – Kyrgyzstani Som

CLP – Chilean Peso

MXN – Mexican Peso

PEN – Peruvian Sol

These currencies have now been added to the platform. Do you all know what this means for the currency you hold?

Travis:  OH MY GOD WHAT JUST HAPPENED …..I have had a pocket option trading account for years! and l have never in my life seen them ever make announcement like this ( Newly added currencies ) that means these Newly added currencies will be (trading ) THIS IS INSANE

https://dinarchronicles.com/2025/01/14/ariel-prolotario1-the-new-forex-currency-trading-options-announced/

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Frank26   We have security and stability in order to introduce the new exchange rate that Dr. Shabibi and the US Treasury have been protecting for a long time.  There are no more CBI auctions.  It is now called... remittance, just like the American banks do...The CBI is now functioning exactly like international banks, exactly like American banks...

Mnt Goat   Article:  “AL-NUSAIRI: EXPLAINS THE NEW MECHANISM FOR EXTERNAL TRANSFERS AFTER THE PLATFORM IS CLOSED”  ...the best part of the article is the CBI is telling us that this new strategy is normal and is working so far. I quote: “This means that the Central Bank has achieved a basic objective of monetary policy.”

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 The One Risk That Could Shatter U.S. Banks in 2025- Danielle DiMartino Booth’s Stark Warning

Daniela Cambone:  1-13-2025

“I'd like to invite members of the Federal Open Market Committee to hop on LinkedIn and to read about the plight of so many of those who are out of work,” says Danielle DiMartino Booth, CEO & Chief Strategist for QI Research.

In our 2025 Outlook Series, Booth sits down with Daniela Cambone to share the growing concerns over the disconnect between Fed policy and the challenges faced by everyday Americans in the labor market.

She also issues a stark warning about the risks in the U.S. banking sector, highlighting a troubling trend of 'double defaults'—where the same property or asset defaults twice—particularly in commercial real estate and corporate bonds.

Don’t miss this deep dive into the critical economic issues shaping 2025.

CHAPTERS:

0:00 U.S. debt

 3:13 Fed policy in 2025

5:02 Disconnect between Fed policy and real economy

5:53 Housing market

7:23 Labor Market

8:46 U.S. economic slowdown

 11:06 Tariffs

11:58 Banking sector risks

 13:51 Gold

https://www.youtube.com/watch?v=cIIsDZ8r_bQ

Seeds of Wisdom RV and Economic Updates Tuesday Morning 1-14-25

Good Morning Dinar Recaps,

CRYPTO ADVISORY COUNCIL LED BY 24 CEOS TO COLLABORATE WITH SEC, CFTC, AND TREASURY FOR REGULATORY CLARITY

▪️Crypto council will collaborate with key regulators, including the SEC, CFTC, and Treasury, to enhance regulatory clarity and promote a pro-crypto environment.

▪️The crypto industry will host the ‘Inaugural Crypto Ball’ on January 17 in Washington, DC, organized by BTC Inc and Stand With Crypto.

As per the latest Bloomberg report, President-elect Donald Trump will be appointing a total of 24 CEOs and founders to his crypto advisory council. Trump’s crypto council will provide guidance on digital asset policy and collaborate with Congress to draft cryptocurrency legislation.

Additionally, it also plans to establish a strategic Bitcoin reserve, thereby fulfilling the promise of Trump’s election campaign.

 The Crypto Council also plans to work with top government regulators such as US SEC, US CFTC, and Treasury to bring regulatory clarity and promote a pro-crypto environment, per the CNF report.

The Bloomberg report shows that many potential appointees have existing ties to Trump and have met with him in recent months. On the other hand, Trump and key advisors, including the newly appointed crypto czar David Sacks, will be reviewing candidates for the council.

Crypto Executives Meet Trump Before Oath-Taking

Following Donald Trump’s election victory in November 2024, top leaders from the crypto industry have visited his residence at Mar-a-Lago in order to build a good rapport with the President-elect. Crypto.com CEO Kris Marszalek recently met with Donald Trump to discuss crypto-friendly policies and potential roles within the upcoming administration.

Meanwhile, MicroStrategy CEO Michael Saylor was seen in discussions with Eric Trump, focusing on Bitcoin’s potential role in the U.S. economy. Coinbase CEO Brian Armstrong has also reportedly held meetings with Trump in recent weeks.

Circle CEO Jeremy Allaire was among the recent ones to meet Donald Trump and also announced a significant donation to the Trump inaugural committee. On Thursday, Circle CEO Jeremy Allaire revealed that the company donated 1 million USDC to Trump’s inaugural committee in an effort to establish goodwill as the new administration forms its advisory council, reported CNF.

Crypto Czar David Sacks Gears for Inaugural Crypto Ball

Last month, in December 2024, Donald Trump appointed Bo Hines to lead the newly established crypto council. Hines will be reporting to David Sacks, with the duo focused on offering a conducive environment for the crypto industry.

Bo will work with David to foster innovation and growth in the digital assets space while ensuring industry leaders have the resources they need to succeed,

The crypto industry is gearing up for a significant event, the ‘Inaugural Crypto Ball,’ set to take place on January 17 in Washington, DC, to celebrate and support the incoming administration. 

Organized by David Bailey’s BTC Inc., advocacy group Stand With Crypto, and other crypto organizations, the black-tie event will be held at the Andrew W. Mellon Auditorium.

Tickets are priced at $2,500, covering cocktails, hors d’oeuvres, and valet service. Additionally, reports suggest that David Bailey is under consideration for a potential position on the administration’s advisory council.

@ Newshounds News™

Source:  Crypto News Flash

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ITALY’S LARGEST BANKING GROUP INVESTS DIRECTLY IN CRYPTOS FOR FIRST TIME

“As of Monday, Intesa Sanpaolo owns 11 Bitcoins.”

Banca Intesa Sanpaolo, Italy’s largest bank by assets, purchased 11 Bitcoins on Monday, worth €1 million ($1.02 million).

According to a Wired Italia report, this marks the first time in Italy, a credit institution concluded a direct crypto transaction.

Some employees of the largest Italian bank first flagged the crypto purchase and sale on the imageboard website 4Chan.

“As of today (Monday), Intesa Sanpaolo owns 11 Bitcoins. Thank you all for the teamwork”, said Niccolò Bardoscia, head of digital assets trading & investments at Intesa Sanpaolo in a mail.

However, Bardoscia did not reveal further information on Intesa Sanpaolo’s motivations for choosing BTC or its future crypto strategies. It is unclear whether the move signals the bank’s intent to expand its crypto services.

Last November, Intesa Sanpaolo expanded the remit of its digital assets desk to cover spot trading for crypto. The biggest lender in Italy had previously only traded crypto options, futures, and exchange-traded funds. However, the spot trading isn’t yet up and running.

Milan-based Intesa Sanpaolo has worked with Ripple Custody (formerly Metaco), to facilitate tokenised asset custody.

Intesa’s move mirrors a growing trend among traditional financial institutions exploring cryptos.

Italy’s Crypto Tax Revisions

The bank’s Bitcoin investment came when the country overhauled its crypto taxation laws, particularly focusing on Bitcoin (BTC) capital gains.

In December 2024, Italy’s Senate finalised the tax rates for crypto capital gains, confirming a 26% tax for 2025. Further, the parliament approved a government proposal to increase the withholding tax on Bitcoin profits to 33% in 2026.

In July 2024, Intesa became the sole institutional investor in Italian development bank Cassa Depositi e Prestiti’s digital bond issuance. The move marked a significant step in digital asset adoption in Italy.

Besides, the implementation of the European MiCA Regulation marks a significant shift in the regulatory landscape for crypto service providers across the EU.

The European Union set a Dec. 30 deadline for its member states to implement MiCA, although not all countries have managed to.

In Italy, the MiCA Decree, the Legislative Decree of September 5, 2024, assigns critical responsibilities to the Commissione Nazionale per le Società e la Borsa (Consob) and the Bank of Italy. It designs them as the primary national authorities for overseeing compliance with MiCA’s provisions.

@ Newshounds News™

Source:  CryptoNews

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CARDANO FOUNDATION UNVEILS ‘VENTURE HUB’ PILOT PROJECT TO FORTIFY BLOCKCHAIN INNOVATION

The Cardano Foundation, an autonomous not-for-profit organization backing the Cardano blockchain, has recently unveiled a pilot project Venture Hub. The new pilot project aims to expedite projects developing on the Cardano blockchain. The company revealed this development on its official X account.

Cardano Foundation Starts Pilot Program ‘Venture Hub’ to Increase Chosen Ventures’ Visibility

The Cardano Foundation mentioned that it leverages the new pilot project Venture Hub to enhance its methodology to back ecosystem endeavors. For this purpose, it offers modified assistance to exclusive and beneficial projects. 

It leverages its comprehensive experience backing projects via more than five hundred Slack and Telegram channels. Subsequently, the platform pursues to expand selected ventures’ visibility and offer valued feedback to advance its programs.

Venture Hub will reportedly include Web 3.0 Ventures, Web 3.0 Innovators, and Web 2.0 Businesses. These 3 categories take into account existing entities utilizing blockchain to increase client services and established blockchain firms endeavoring to grow or migrate to Cardano. In addition to this, the latest ventures introducing scalable solutions on the blockchain of Cardano are also invited. 

The Cardano Foundation will let the selected projects access an exceptional combination of business, visibility, and technical support. This will lead to the projects’ long-term success.

Venture Hub to Deliver Technical Support and Strategic Business Advice to Boost Project Development

Hence, in the case of visibility boost, the program will deliver a wider exposure via an organized Demo Day, marketing, and PR endeavors. Additionally, the projects will also get strategic business advice to attain sustainable growth.

Moreover, the in-house technical professionals will provide personalized guidance to the selected projects. Venture Hub will potentially cater to the respective projects at diverse development points. They range between early-stage ventures and fully established businesses dealing with blockchain solutions.

According to the Cardano Foundation, the participants will benefit from sophisticated technical strategies and boosted business development with ecosystem collaborators. Apart from that, they will also enjoy an enhanced visibility across the Cardano ecosystem.

Furthermore, the platform will also deliver investment readiness via curated opportunities such as VC engagements and Project Catalyst workshops.

The applications are invited between the 13th and 31st of January. Following that, the platform will announce the successful candidates in February while the 12-week program is scheduled to start on the 17th of March.

@ Newshounds News™

Source:  Blockchain Reporter

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“Tidbits From TNT” Tuesday Morning 1-14-2025

TNT:

Tishwash:  Accompanied by a large delegation... Al-Sudani begins an official visit to Britain today 

Prime Minister Mohammed Shia Al-Sudani begins a visit to the United Kingdom this Monday afternoon, at the head of a high-level delegation, in response to an official invitation from the British Prime Minister.

According to a government statement received by the Mail, Al-Sudani "will hold a series of meetings, most notably with the King of the United Kingdom, His Majesty Charles III, and British Prime Minister Keir Starmer, in addition to meeting with a number of senior officials in the British government. He will also hold meetings with representatives of companies and the business sector, in addition to holding seminars and dialogues with specialized research centers."

The statement said, "The Prime Minister's visit comes within the framework of enhancing prospects for cooperation between Iraq and the United Kingdom, as it will witness the signing of agreements and memoranda of understanding in various tracks, especially in the economic, investment and security fields."

He added that Al-Sudani will be accompanied on his visit by a high-level delegation that includes a number of ministers, members of the House of Representatives, the Governor of Basra, and a number of advisors, in addition to representatives of the private sector, businessmen and industrialists specializing in various economic sectors  link

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Tishwash: Foreign Minister arrives in New York to assume presidency of G77 and China

 Deputy Prime Minister and Minister of Foreign Affairs, Fuad Hussein, arrived in New York, today, Monday, January 13, 2025, to participate in the ceremony of Iraq assuming the presidency of the Group of 77 and China for the year 2025.

The Ministry of Foreign Affairs stated in a statement received by "Baghdad Today", that "Minister Hussein will hold meetings with the Secretary-General of the United Nations, Antonio Guterres, and the President of the United Nations General Assembly, Mr. Philomon Yang.

It is noteworthy that Iraq achieved a remarkable diplomatic achievement by being officially elected to chair the Group of 77 and China during the 48th annual meeting, which was held at the United Nations headquarters in New York on September 27, 2024, with the participation of Fuad Hussein.

It is worth noting that the Group of 77 and China is the largest group of countries within the United Nations, with 134 member states.  link

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Tishwash:  Chinese Ambassador: A large number of Chinese companies are present in Iraq

The Chinese Ambassador to Iraq, Cui Wei, confirmed today, Sunday, that there are a large number of Chinese companies present in Iraq as a result of the security and stability witnessed by the country and the government support provided, in addition to the facilities provided to foreign companies.

Cui Wei said, during a press conference followed by "Kalima News": "The volume of trade cooperation between Iraq and China since the beginning of last year until November amounted to 50 billion US dollars."

He explained that "cash dealings between the two countries are currently in the initial stages," indicating that "in the coming period it will be developed as it is an important source for both countries."

He added, "There are a large number of Chinese companies present in Iraq as a result of the security and stability witnessed in the country and the government support provided, in addition to the facilities provided to foreign companies."

He pointed out that "the government has given clear attention to the reconstruction and building file, and there is also a decrease in unemployment and poverty rates," stressing that "a report published in one of the international agencies indicates that growth rates in Iraq will rise during the current year by 4.1 percent."

He pointed out that "Iraq's efforts in renaissance, development and progress are clear, and there is a possibility of harmonizing the development road projects and the Belt and Road Initiative."

He noted that "the work carried out by Chinese companies in the port of Faw will be completed by the tenth month of this year, which is the work of cleaning the channel."  link

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Mot: .. Only ole ""Earl"" 

Mot :  The big “Here After”

Seeds of Wisdom RV and Economic Updates Monday Evening 1-13-25

Good Evening Dinar Recaps,

FILIPINO BANKS PLAN TO LAUNCH MULTI ISSUER STABLECOIN PHPX ON HEDERA DLT

Later this year several Filipino banks are planning to launch a multi bank peso stablecoin, PHPX, which will initially operate on the Hedera DLT network. The banks include the UnionBank of the Philippines, Rizal Commercial Banking, Cantilan Bank and the Rural Bank of Guinobatan. 

Singapore startup Just Finance is the initiator, but the banks will have a significant role in the governance. Given a key goal is cross border payments, the plans include more than just a stablecoin. There’s a need to exchange stablecoins in different currencies.

UnionBank, or more specifically its fintech spin off UBX, has been involved in blockchain for years including managing a quasi stablecoin network, albeit in a closed loop system.

In 2018 it set up a token-based automated clearing house (ACH) to enable payments for rural and community banks that were not members of the national retail payment system (NRPS) to funnel them via UnionBank.

That system uses a permissioned version of Ethereum and the more-or-less invisible backend token is PHX, not to be confused with PHPX the planned new stablecoin.

While the ACH has served its purpose, it’s time to take the next step. “We need to create something that is publicly exchangeable, so that we can support use cases outside of our own closed loop ecosystem,” said John Januszczak, UBX CEO, during an interview with Ledger Insights. He also wants to support stablecoins beyond that created by UBX.

Hence, when David Inderias and Mikko Perez from Just Finance approached UBX with the concept for PHPX, Mr Januszczak was open to it.

While it’s not the only use case, cross border payments are top of the list, particularly for remittances.

Filipino stablecoin remittances

Inbound remittances from people working abroad are a critical source of funds in the Philippines. According to the World Bank, the country is the fourth largest recipient of remittances which totaled $40 billion in 2024, representing around 10% of the country’s GDP.

Some of the stablecoin goals are basic. “The speed of payments has not kept up with the speed of commerce,” said Mr Januszczak. “As the operator of a payments network, it’s not about the technology, it’s about that fundamental problem.”

He noted that the people doing the work abroad have limited control over how their hard earned cash is spent. They often send the money to someone in the Philippines who looks after the bills.

“We want Filipinos that are earning money in the US (or elsewhere) to be able to pay their kids’ school tuition directly from the United States (and) for that payment to be affected in real time,” said Mr Januszczak. 

“We want to open up the opportunity for people to contribute to insurance policies and wealth products from overseas. So not just vanilla, pedestrian remittances, but remittances that give back that control.”

For the banks involved, the stablecoins will often be abstracted in the backend, so the customer simply chooses to send $500 rather than being aware of the stablecoin details. The $500 is exchanged for PHPX or another stablecoin in the background. From there it can be deposited into a bank account, a G Cash wallet or for cash pickup at an over the counter location. Hence, banks will provide seamless on and off-ramping.

Ultimately, consumers could have direct access to PHPX, but that would be subject to regulator approval.

Stablecoins and FX

To enable cross border payments, part of the plan is to create a multi currency stablecoin exchange. Given cross border payments will involve swaps of foreign currency stablecoins in USD, SGD or JPY with PHPX, that requires liquidity providers who can earn a yield. It also will have to be regulatory compliant. 

At launch it’s likely the banks or those implementing use cases will take on that role. But in a decentralized environment, that could open up over time, involving qualified investors as liquidity providers in the Philippines.

A safe PHPX stablecoin design

Turning to the stablecoin, Mr Inderias from Just Finance emphasized quality and compliance.

With a multi issuer token, the big question is what happens if a bank goes bust? Most of the stablecoin reserves will be held in segregated bank trust accounts which will hold government bonds, with a small cash balance for short term settlement. The trust accounts are ring-fenced rather than part of the general liability of the bank. Hence, if a bank fails, the stablecoin is bankrupt remote (provided the money hasn’t disappeared because of fraud). Given that Just Finance doesn’t hold the cash, the stablecoin should also be safe if it ran into trouble.

As a bank stablecoin, another challenge is compliance with Basel Committee crypto-asset rules. If stablecoins are classed with other cryptocurrencies (Group 2) that could get expensive for banks to hold them. In the latest Basel iteration, to qualify as a Group 1b (low risk) stablecoin the DLT network has to be permissioned, which is the reason for choosing the Hedera DLT as the initial network.

Another requirement to satisfy the Bangko Sentral ng Pilipinas (BSP) is for any coins the system interacts with to comply with the EU’s MiCAR regulations or regional equivalents.

Meanwhile, a key advantage of stablecoins over bank payments, is they don’t require interbank settlement. In the Philippines, the main National Retail Payment System (NRPS) limits payments to around $1,000 to manage risks. That’s because while the banks credit recipients almost immediately, the interbank settlement is not real time.

By contrast, the existing closed looped clearing house operated by UBX has been using blockchain for years, minting and burning tokens which are backed by reserves. Hence, it has already seen the benefits of stablecoin-style payments, where clearing and settlement don’t involve separate steps.

Getting to launch

The central bank is going to have the last say about when the solution goes live, with the earliest launch date between May and July this year.

Mr Inderias emphasized that the goal of PHPX isn’t purely for remittances. He also envisages larger cross border payments for trade and the potential domestic use of the stablecoin at point of sale (POS). But before that can even be considered, the first step is getting bank applications live.

“If and when we go to retail, we’ll do that in a measured way under the purview of the regulator,” he said.

@ Newshounds News™

Source:  Ledger Insights

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US BANKS CAN HOLD BITCOIN AND CRYPTO UNDER INCOMING TRUMP EXECUTIVE ORDER: REPORT

President-elect Trump will issue an executive order effectively allowing banks and financial institutions to hold Bitcoin (BTC) and crypto assets on behalf of their clients, according to a new report.

The incoming order will reverse a regulatory guideline that has shaped how financial institutions account for and custody digital assets, reports the Washington Post

“…Trump is expected to issue executive orders on the first day of his presidency that may address issues including “de-banking” and the repeal of a controversial crypto accounting policy requiring banks holding digital assets to count them as liabilities on the bank’s own balance sheet, according to a person involved with the conversations.”

The expected executive order is designed to reverse SAB 121, an SEC guideline that requires certain financial entities to list even the crypto assets they hold on behalf of customers as liabilities.

Crypto proponents say the guideline blocks financial institutions’ ability to enter the digital asset arena.

A bill aiming to eliminate SAB 121 recently passed both the House and the Senate, but President Biden vetoed the bill.

@ Newshounds News™

Source:  DailyHodl

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COINBASE SCORES ANOTHER WIN AGAINST 'ARBITRARY AND CAPRICIOUS' SEC ORDER

A panel of Third Circuit federal judges ruled the SEC must explain its lack of crypto rulemaking—but stopped short of ordering the agency to create such regulations.

A panel of federal appeals court judges in Philadelphia dealt another blow to the SEC’s crypto regime on Monday, emerging as the latest prominent court to question how the federal agency has navigated its regulation of digital assets.

The U.S. Court of Appeals for the Third Circuit ruled today in favor of Coinbase, which sued the SEC last year over the agency’s refusal to explicitly lay out its crypto policy. Instead of putting forth crypto-specific rules, the SEC has instead sporadically sued crypto firms over the last six-odd years in a pattern that has been disparagingly dubbed “regulation by enforcement.”

Today a three-judge panel, comprised of two Democrats and one Republican, ruled that the SEC’s dismissive response to Coinbase’s request for crypto-specific rulemaking was unacceptable.

“Because we believe the SEC’s order was conclusory and insufficiently reasoned, and thus arbitrary and capricious, we grant Coinbase’s petition in part and remand to the SEC for a more complete explanation,” today’s order reads.

The judges added that they declined, however, to force the SEC to create crypto-specific rules, as Coinbase had requested.

According to Judge Thomas Ambro, a Clinton-era Democrat who wrote Monday’s opinion, previous case law established that an agency like the SEC could only be forced to create rules against its will if an extreme delay in creating those rules “endangered human lives”—a requirement clearly not met by crypto-related regulations.

So the SEC doesn’t have to issue new crypto rules now, but it must explain to Coinbase in much greater detail why it has, thus far, refused to do so.

“Rather than force the agency to make a rule, we order it to explain its decision not to,” Judge Stephanos Bibas, a Republican appointed to the court by Donald Trump, wrote Monday in a concurring opinion. “Indeed, a rule may not prove necessary to solve the problems here; the agency could just state its position on crypto assets unequivocally.”

@ Newshounds News™

Source:  Decrypt

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CARDANO & RIPPLE TO PARTNER? ADA EYES RLUSD INTEGRATION

A cooperation that would see two of the industry’s most prominent networks team up, both Cardano (ADA) and Ripple are reportedly discussing a partnership that would include the latter’s recently launched Ripple USD (RLUSD) stablecoin. Indeed, the discussions were confirmed in a recent post to X (Foermly Twitter) by Cardano founder Charles Hoskinson.

The asset has had a rather slow start to the year despite immense promise. However, that is widely expected to turn around. Moreover, with both ADA and XRP projected to make headway in the coming months, a partnership could ensure their prices skyrocket together.

Charles Hoskinson Confirms Talk to Bring Cardano and Ripple Together

2025 may be set to be a big year for Cardano and Ripple, as both companies look to build off of a momentous final two months to last year. Moreover, the two sides are reportedly engaged in talks, according to the former’s founder. The discussion centers around the promising Ripple stablecoin debut that would bring about an RLUSD integration.

Charles Hoskinson went as far as to confirm that discussion was taking place. However, he did not elaborate on what exactly was discussed between both sides. Yet, if it comes to fruition, it would be a game-changer for ADA, the native token on the Cardano network.

The cryptocurrency has certainly struggled since the start of the year. Over the last seven days, ADA has fallen more than 16%, according to CoinMarketCap. Moreover, the asset’s 13% drop in the last 30 days has it trading under the $1 mark. However, the token is not expected to remain this year, as it is projected to have a monumental year ahead.

According to cryptocurrency price prediction platform CoinCodex, Cardano will retake the $1 mark in January and then some. Indeed, analysts project the token to end January with a high price of $1.8, providing a potential ROI of more than 101%.

That isn’t all, as the asset is expected to build off of that success. Specifically, the platform projects ADA to reach the $2 mark in February, reaching heights of $2.50, with a 174% potential jump, by the end of the year’s second month.

With $3.9 yearly highs projected, Ripple and RLUSD stablecoin integration would help the network reach these marks. Moreover, they could help them exceed them, rewriting the potential it had entering the year.

@ Newshounds News™

Source:  Watcher Guru

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Subscribe to Seeds of Wisdom Team™ Newsletter

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More News, Rumors and Opinions Monday PM 1-13-2025

KTFA:

Clare:  The House of Representatives completes the second reading of the draft amendment to the budget law

1/13/2025

The Council of Representatives concluded, in its session today, Monday, the second reading "Report and Discussion" of the draft law of the first amendment to the Federal General Budget Law of the Republic of Iraq for the fiscal years (2023 - 2024 - 2025) No. (13) of 2023.   LINK

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Clare:  Iraqi Customs: Electronic payment service will be temporarily suspended tomorrow

1/13/2025

The Iraqi General Authority of Customs announced on Sunday that the electronic payment service will be temporarily suspended tomorrow, Monday.

The authority said in a statement received by Shafaq News Agency, "The Central Bank of Iraq informed us that the electronic payment service will stop tomorrow, January 13, 2025, at 12 midnight for two hours, for the purpose of making updates to their systems."  LINK

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Clare:  Nechirvan Barzani and the change after the population census.. New issues for Baghdad

 2025-01-13 | 00:15

A prominent Kurdish commentator said that the region’s president, Nechirvan Barzani, brought with him to Baghdad “new” files, one of which emerged after the last population census and relates to the disputed territories between Baghdad and Erbil and the budget shares, and the other is financial issues that an extraordinary meeting of the Kurdistan Regional Government discussed on Saturday.  LINK

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Clare:  The Central Bank is working to provide various services to bank card holders.

January 12, 2025

The Central Bank of Iraq works within its strategy to provide various services to bank cardholders, by expanding the spread of cash delivery outlets and through all available channels, including ATMs and POC cash payment devices, as well as authorized exchange companies, electronic payment company outlets, and POS electronic payment devices spread throughout Iraq.

The Central Bank confirms in its circulars that included directing banks and non-banking financial institutions to spread and expand their financial services in areas that lack the aforementioned services.

While the bank seeks to develop these services by establishing the latest infrastructure for financial products and services in Iraq, and improving them continuously.

The Central Bank invites you to submit inquiries and complaints, if any, through the following link:  https://complaint.app.cbi.iq/

Central Bank of Iraq 
Media Office 
January 12, 2025

https://cbi.iq/news/view/2758

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Frank26  [Discussing photo of an unknown lower note sent to Frank]  SENDER:  What's that [note] underneath it [photo of the known 250 and 500 dinar notes]?  FRANK:  I don't know what that is.  Where did you get this?  SENDER:  It's from a contractor in Iraq... FRANK:  It's not just because of the color I see there, it's the packaging that attracts my attention.  SENDER:  My buddy said he got the pictures from his interpreter friend who goes out on patrols with him daily.  The interpreter's brother works in a very small bank...He had to pay the brother three bottles of Old Spice cologne in order to get this picture to him.   [Post 1 of 2....stay tuned]]

Frank26   SENDER:  I guess they can't get it over there, pretty valuable.  The brother said they have pallets of the smaller bills there in the vault but they haven't released them yet to anyone.  I guess he could get in serious trouble if they found out he took this picture.  FRANK:  So I'm understanding this correctly, your friend who's a contractor, his interpreter has a friend at a bank and he took a picture and he smuggled them out and he gave them to your friend and your friend gave them to you?  SENDER:  Exactly.  FRANK:  It had three qualifications but the one that got me was the packaging.   [Post 2 of 2]

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Almost a Third of the National Debt Needs to be Paid Back in 2025

Heresy Financial:  1-13-2025

TIMECODES

 0:00 the National Debt

1:40 The impact this will have on the market

 5:52 Big Part of the Nation Debt is in T-Bills

7:22 How the Stock Market will be affected

https://www.youtube.com/watch?v=ThP0mRdE8uw

Seeds of Wisdom RV and Economic Updates Monday Afternoon 1-13-25

Good Afternoon Dinar Recaps,

RIPPLE XRP AND BANK OF AMERICA: BIG CLAIMS, FEWER ANSWERS

▪️Ripple XRP integration at Bank of America sparks debate, with claims remaining unverified.

▪️Bank of America files 83 patents tied to Ripple blockchain, fueling XRP adoption speculation.

▪️XRP price rises 3.39% amid rumors of BoA’s blockchain use, with $2.89 as key resistance level.

Recent claims about Bank of America (BoA) using Ripple’s XRP for internal transactions have sparked heated debate within the financial and cryptocurrency sectors. While the bank’s potential use of XRP could signal a major shift in digital payments, these assertions remain unconfirmed, marking caution necessary.

Unverified Claims and Historical Context

David Stryzewski, CEO of Sound Planning Group, made headlines during a FOX Business interview on January 6, 2025, by stating that BoA has integrated XRP for all its internal transactions. He also revealed that BoA has filed 83 patents related to Ripple’s blockchain technology, demonstrating a considerable investment in the infrastructure that supports digital payments.

However, despite this bold claim, Bank of America has not issued an official confirmation. Historical records show that BoA has been exploring blockchain solutions for years. For example, in 2017, the bank filed a patent for a real-time settlement system that referenced a “ripple” distributed ledger without explicitly naming XRP. This action suggests an ongoing interest in decentralized technology but raises questions about its current adoption practices.

Technical Analysis and Market Sentiment

Market reactions reflect the news, with XRP trading at $2.41, a 3.39% daily increase. Analysts have identified a critical resistance level at $2.89 and support near $2.00, creating key zones for traders to monitor. Bullish sentiment has surged due to the potential for broader institutional adoption, but skeptics urge caution because of the lack of official statements.

Broader Implications and Future Outlook

If Stryzewski’s claims are accurate, this development could set a precedent for cryptocurrency adoption in traditional banking systems. RippleNet, where BoA is a governance member, shows the growing collaboration between financial institutions and blockchain solutions. Still, the absence of verifiable evidence highlights the importance of relying on official updates for a clear understanding.

Meanwhile, the XRP community remains optimistic, driven by Ripple’s recent achievements, such as the launch of the RLUSD stablecoin. This milestone, along with XRP’s increasing adoption, underscores the asset’s growing role in global finance.

@ Newshounds News™

Source:  Coin Edition

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XRP LEDGER UPGRADE: IMPORTANT CHANGES YOU MUST KNOW

The XRP Ledger (XRPL) is currently in the process of a major technology update, with several amendments already announced for voting.

The XRP development team revealed that about 80% of the XRPL servers have been successfully updated, and older version servers are expected to be automatically disconnected once this update is complete. This update will bring a number of important changes that have the potential to impact various aspects of XRP and XRPL usage as a whole.

Update to XRP Ledger v2.3.0

XRP Ledger v2.3.0 brings several important amendments aimed at improving network efficiency and functionality. Some of the key changes included in this update include:

▪️XLS-70: Credentials
This amendment allows you to provide credentials to the ledger and use them to automatically approve incoming payments.

▪️XLS-33: Multi-Purpose Token
This change presents a new, more optimal version of the token, especially for institutions operating in the Decentralized Finance (DeFi) sector. This aims to support the broader adoption of fungible tokens in DeFi.

▪️XLS-37: AMM Clawback
This amendment allows the use of tokens with a clawback feature in Automated Market Maker (AMM) systems, providing more flexibility in the management of revocable tokens.

▪️XLS-52: NFTokenMintOffer
With this amendment, you can make sales offers for Non-Fungible Tokens (NFT), opening up more opportunities in the ever-growing NFT market.

▪️Bug Fixes and Efficiency Improvements
In addition to the major amendments, this update also includes a number of technical improvements, such as fixing a bug that resulted in missing links in the NFT directory and improvements to the AMM transaction process that can improve overall system performance.

XRPL Server Update Progress

As part of this update, the development team also announced that around 80% of the XRPL servers have been successfully updated. This marks a major step in ensuring the XRPL network remains relevant and efficient.

Servers using versions 2.2.x and older are expected to automatically disconnect once the update is complete, forcing most users to upgrade to stay connected to the network.

Implications of the Update to the XRP Network

In addition to technical updates, recent data shows a significant increase in activity on the XRP network. According to data from CryptoQuant released in November 2024, XRP's Network Value to Transactions (NVT) ratio saw a spike, indicating increased activity on the network.

 Further analysis from CryptoQuant also showed significant changes in transaction types on XRPL, especially in “OfferCreate” transactions, reflecting increased trading activity on the network.

In January 2024, payment transactions accounted for 88% of all transactions on the ledger, while “OfferCreate” transactions accounted for 12%. However, in November 2024, both types of transactions will experience equal adoption with a contribution of 50% each. This shows that the adoption of new features, including decentralized trading (DEX), is starting to gain popularity among XRPL users.

XRP Outlook Post Update

In December 2024, crypto analyst Paul Barron revealed that the XRPL network was on the verge of a major breakthrough. According to him, the update that is being carried out has the potential to trigger a significant spike in the price of XRP.

Even though the price of XRP is currently hovering around $2.3 after experiencing a 4.4% decline in the last seven days, optimism for the future of the XRP network remains high, especially with increased activity and ongoing updates.

Thus, the XRPL v2.3.0 update not only brings significant technical changes, but also opens up new opportunities for adoption and further development in the XRP ecosystem, both for individuals, institutions, and developers in the DeFi and NFT sectors.

As the server upgrade nears completion, the XRP network is expected to become stronger and more competitive in the ever-evolving blockchain world.

@ Newshounds News™

Source:  BitTime

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LEDGER INSIGHTS - 13 JAN – TOKENIZATION, DIGITAL ASSETS NEWS

TOKENIZATION AND DIGITAL ASSETS: POLICY & LEGAL

FDIC Vice Chair acknowledges crypto debanking, outlines policy plan. He’s a candidate to become chair.
Ledger Insights  

United States Consumer Financial Protection Bureau (CFPB) interpretive rule proposes to include stablecoins, crypto in Electronic Fund Transfer Act (EFTA) as digital payments. This would give consumer protections such as the right to dispute errors or fraudulent transactions. Comments should be submitted by the end of March.  
CFPB-EFTA Document

OECD explores impediments to tokenization adoption.
Ledger Insights

New Springer legal book including digital assets
Governance and Control of Data and Digital Economy in the European Single Market: Legal Framework for New Digital Assets, Identities and Data Spaces
OPEN ACCESS DIGITAL LINK 

Indonesian commodities regulator transfers digital asset responsibilities:
the Commodity Futures Trading Supervisory Agency (Bappebti) transferred its digital assets duties including crypto and derivatives to the Financial Services Authority (OJK) and Bank Indonesia (BI).

OJK takes on most of the responsibilities with the central bank supervising derivatives where the underlying assets relate to money markets or foreign exchange.  KK Advocates 

Kenya’s Treasury publishes a draft set of digital asset rules and requests feedback.
Draft Document 

European Central Bank’s Bindseil and others explore tokenization terminology.  Tokenization Terminology 

TOKENIZATION & DIGITAL ASSETS: PROJECTS, PARTNERSHIPS

NUS, Northern Trust and UOB partner to tokenize green bond data. Part of Project Guardian. Ledger Insights 

Ownera, which provides a blockchain interoperability router FinP2P, partners with Layer 1 blockchain Kadena.  LINK 

Germany’s Bundesbank advertises for (more) DLT technical roles. Good news for wholesale DLT settlement solutions?  LINK 

Blockchain Security Standards Council issues first two standards. Its members include Anchorage Digital, Coinbase, Fireblocks, OpenZeppelin, Ribbit Capital. One of the standards is on asset integration – such as tokens.  LINK

@ Newshounds News™

Source: Ledger Insights 

~~~~~~~~~

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How America’s Debt Addiction is Triggering a Collapse

How America’s Debt Addiction is Triggering a Collapse

ITM Trading:  1-12-2025

The global economic landscape is shifting, prompting many to question the stability of current systems. In the United States, concerns are growing about the potential for runaway inflation and the possibility of a significant currency reset.

While mainstream economic analysis often downplays these risks, a closer look at government spending, historical precedents, and the current economic climate suggests a need for careful consideration and proactive planning.

One of the most pressing anxieties is the rising cost of goods and services. While inflation is a natural part of a healthy economy, excessive inflation, particularly when coupled with stagnant economic growth (stagflation), can be incredibly damaging.

Some analysts argue that the U.S. is already experiencing early signs of stagflation, pointing to rising prices alongside slowing GDP growth. This presents a challenging scenario for policymakers, as measures to combat inflation, such as raising interest rates, can further stifle economic activity.

The underlying concern stems from what some perceive as unsustainable levels of government spending. Trillions of dollars have been pumped into the economy in recent years, contributing to an expansion of the money supply. While these measures were intended to stimulate growth and mitigate the effects of the pandemic, critics argue that they have added fuel to the inflationary fire.

History is replete with examples of nations grappling with hyperinflation and currency devaluations. From the Weimar Republic in the 1920s to more recent cases in South America and Africa, the consequences of uncontrolled inflation are severe: widespread poverty, social unrest, and a drastic loss of faith in the government and its institutions. These historical examples highlight the potential for even developed economies to fall victim to extreme economic instability when imbalances are ignored for too long.

Some argue that the current situation shares worrying similarities with these past crises – excessive government spending, rapid growth in money supply, and a weakening of public confidence. While it’s impossible to predict the future with certainty, understanding these historical patterns is crucial for informed decision-making.

Given the uncertain environment, many individuals and institutions are looking for ways to safeguard their savings and investments. Diversification is always a valuable strategy, but in times of perceived crisis, alternative asset classes are often explored.

Traditional assets may lose their value in an inflationary period, as prices rise and purchasing power erodes. This has led some to consider holding physical assets, such as precious metals like gold and silver. Historically, these metals have been seen as stores of value and a hedge against inflation. The idea is that while fiat currencies may depreciate, the value of physical assets can hold steady or even appreciate.

Ultimately, the future of the U.S. economy remains uncertain. While some experts dismiss the risks, the possibility of significant economic challenges, including inflation and currency volatility, is a valid concern.

The most important step individuals can take is to stay informed, understand the potential risks, and make informed decisions based on their unique circumstances. This involves careful attention to news and expert analysis, as well as a proactive approach to personal financial management. Rather than panic, it’s time for thoughtful planning and diversification to navigate the potential challenges ahead.

https://youtu.be/Y_G74U4fVu4

News, Rumors and Opinions Monday 1-13-2024

DJ:  DID YOU KNOW?

Jan 12th Post 2025 (Cultural Differences)

I recently read an article about an individual who moved to the U.S. from New Zealand 12 years ago. They were expressing their difficulty, 12 years later, on adjusting to the cultural differences.

They expressed how when they first moved here they discovered the U.S. tends to have a more cutthroat, competitive culture in which people can be overlooked or dismissed if they’re not prepared to speak loudly and clearly about their accomplishments.

Back in New Zealand however, they were used to, and raised in, a culture that encourages people to act humble. Where people don’t tend to talk up their accomplishments and try to give credit to others (even if it rightly belongs to them).

Though this may be a small thing, these sorts of cultural differences can feel like a minefield to navigate and has made some social interactions a constant source of stress for years. We have to keep in mind for a GCR to occur these cultural differences are going to have to be accounted for. Who gets what, how they get it, and how the process will integrate through all these various cultural minefields.

Remember, the GCR is a redistribution of global wealth drawing from multiple countries and multiple cultural differences, not printing more money. Cultural differences play a pivotal role because they shape how societies view wealth, fairness, and redistribution.

In some cultures, wealth is viewed as a sign of hard work and individual success, while in others, it’s seen as a communal resource meant to be shared. Redistribution may face resistance in societies that highly value individual achievement and property rights.

While many cultures have religious or ethical systems that influence their stance on wealth sharing. For example: Zakat in Islam mandates wealth redistribution as a religious duty, western cultures influenced by Protestant ethics may stress individual responsibility over collective welfare.

Cultural definitions of fairness way in. Fairness can mean different things across cultures. In the Global North, fairness might emphasize equal opportunity. In the Global South, fairness may focus on compensating for historical injustices like colonialism or exploitation. These differing views could complicate consensus on how wealth should be redistributed globally.

How we approach and address cultural differences would have to include some type of inclusive dialogue that would engage diverse stakeholders to ensure all voices are heard, respecting cultural norms and values.

They would have to highlight shared global challenges like poverty and climate change to build solidarity. They have to design flexible redistribution models tailored to cultural contexts rather than imposing a one-size-fits-all solution. And most of all we will have to strengthen international institutions and promote transparency to gain widespread support.

So all the massive changes to the mechanisms required to pull this off aside, getting the global community and integrating the cultural norms of each participant to sink together, is in itself a challenge we don’t normally consider.

Not everybody likes to go skinny dipping, if you know what I mean.  DJ

https://dinarchronicles.com/2025/01/12/the-office-of-poofness-weekly-report-update-from-poof-and-dj-1-12-25/

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Militia Man  I try to be calm cool and collected as much as possible because I'll be honest with you, this transition, when it happens is going to be something that everybody's going to have to deal with and it's going to be a shock.  Just like the World Bank had said to not just us but they said to the countries of the world, be prepared for shock.  They said it in writing that, hey, be prepared for shock and when Iraq does a big move and other currencies are involved markets will be shocked to some degree...

Jeff  They're bringing the budget off the shelf...I told you the budget would stay on the shelf collecting dust until they're about ready to revalue.  From October 8th to now the budget did remain on the shelf collecting a whole bunch of dust.  What did I tell you about January?  I said January is a very critical month.  Keep your eyes on it...They are now talking about pulling the budget off the shelf and getting the budget schedules approved by parliament.  Thing are now finally preparing to happen and come forward because they're about ready to revalue the currency.

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IQD: How Will Trump Affect the Iraqi Dinar?

Edu Matrix:  1-13-2025

IQD: How Will Trump Affect the Iraqi Dinar? –

In this video, we dive deep into the anticipated strategies of Trump’s administration regarding Iran-backed militias in Iraq. As economic tools become the weapon of choice, we explore how Iraqi leaders will navigate their complex relationship with Washington, especially in the wake of manipulative tactics aimed at ousting key officials.

With key appointments like Rep. Michael Waltz and Joel Rayburn, expect a hawkish approach targeting Iran’s influence and disrupting its financial channels.

 Will these bold moves stabilize the Iraqi Dinar and reshape regional dynamics? Join us as we unravel the implications of potential sanctions and the newly formed U.S. foreign policy team.

https://www.youtube.com/watch?v=EF2R2_9zDzw

Seeds of Wisdom RV and Economic Updates Monday Morning 1-13-25

Good Morning Dinar Recaps,

SEN. TED CRUZ: FIGHTING REGULATORY OVERREACH, CHAMPIONING BITCOIN

In an interview with Cointelegraph, US Senator Ted Cruz discusses Bitcoin’s role in driving small business growth, its potential as a hedge against inflation and why Texas is becoming a top crypto hub.

In an exclusive interview with Cointelegraph, US Senator Ted Cruz shared his vision for Bitcoin, the broader crypto industry and the future of his home state of Texas.

As a self-proclaimed Bitcoin miner, Cruz emphasized the potential of BTC to empower small businesses, drive innovation, and serve as a hedge against inflation.

Despite his optimism for the future of BTC and crypto mining, Cruz warned against hasty government regulations, stressing the need for Congress to better understand before overreaching with regulatory actions.

“Very few Members of Congress understand cryptocurrency, so I am urging my colleagues to proceed slowly and carefully with any regulations governing cryptocurrency,” he said.

Bitcoin’s impact on small businesses

Cruz said he is “bullish on Bitcoin,” praising its capacity to provide privacy, autonomy and independence from government control.

“Most congressional Democrats are deeply skeptical of Bitcoin,” he said. “They don’t like that it creates individual freedom, privacy, autonomy and independence from the government.”

With the incoming administration of US President-elect Donald Trump, Cruz predicted that “Republicans will unleash small businesses and cryptocurrency like never before.”

“I’m proud to lead the fight to defend cryptocurrency from overreaching government regulation. I introduced legislation to prohibit the development of a central bank digital currency and to clarify that the Federal Reserve has no authority to do so unilaterally.”

Texas as an oasis for Bitcoin

Cruz described Texas as “an oasis for Bitcoin” due to its abundant, low-cost energy and business-friendly environment. He said the state’s “frontier mentality” and low taxes have made it a magnet for Bitcoin mining firms and crypto enthusiasts.

“Cryptocurrency mining requires dependable, low-cost energy, and if Texas is known for anything, it is abundant low-cost energy,” Cruz said. “I am thrilled to see so many jobs coming to Texas, and we need to make sure that trend continues and accelerates,” he added.

Recent developments, such as Hive Digital relocating its headquarters to Texas and Marathon Digital acquiring a wind farm in the state, underscore Cruz’s sentiment.

Cruz told Cointelegraph that, to his knowledge, he is the only member of the Senate who is a BTC miner and has “three miners hashing in West Texas right now.”

“I have a weekly buy order to take advantage of dollar-cost averaging,” he said. “I’ve been investing for several years, over which time Bitcoin’s value has roughly tripled.”

@ Newshounds News™

Source:  CoinTelegraph

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INCOMING TREASURY TO SELL BITCOIN ETF HOLDINGS

According to a recent report by Bloomberg, hedge fund manager Scott Bessent, who was recently nominated to be the new Treasury secretary, will divest his Bitcoin ETF holdings. The billionaire American investor owns no more than $500,000 worth of shares of BlackRock's iShares Bitcoin Trust ETF (IBIT). Overall, Bessent has listed more than $500 billion worth of assets.

@ Newshounds News™

Read more:  U Today

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RIPPLE CTO REVEALS COMPANY'S MEDIA STRATEGY ON XRP

Ripple CTO David Schwartz breaks silence on crypto company's approach to misinformation regarding XRP

Ripple's CTO David Schwartz recently shared some thoughts on the company's media strategy during its three-year legal battle with the Securities and Exchange Commission. 

The case ended with Ripple getting a partial victory, after they argued that XRP, the cryptocurrency associated with Ripple, should not be classed as a security. The court concluded that XRP is not a security, but the crypto company was fined for selling coins to institutional clients. 

This clarified the asset's status, which has big implications for both the San Francisco-based company and the wider crypto market.

Schwartz talked about the challenges Ripple faced in dealing with false information about XRP during the lawsuit. He admitted that the company couldn't do much to directly challenge the false stories about the cryptocurrency because of legal and strategic limits.

Instead, they relied on their community, also known as the "XRP Army," to spread the right message. But this meant that misinformation and speculation spread, which was not ideal.

Schwartz said that Ripple tried not to amplify unverified claims or people spreading misinformation on purpose, but he admitted that this approach might have had the opposite effect. He said that if they dealt with inaccuracies, they might accidentally give them more credibility or visibility, which would make it harder for Ripple to respond to the media.

Schwartz also talked about how Ripple tries to tell the difference between helpful contributions and baseless claims in the XRP community. While the company recognized the importance of fostering a positive narrative, it maintained caution in engaging with content or individuals that might harm its reputation or mislead the public. #XRP #XRP News #Ripple News

@ Newshounds News™

Source:  U Today

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MASTERCARD INTRODUCES CRYPTO CREDENTIAL FOR SEAMLESS P2P TRANSACTIONS IN UAE, KAZAKHSTAN

▪️Mastercard has launched Crypto Credential in the UAE and Kazakhstan to simplify crypto transactions.

▪️The solution ensures secure transactions by verifying both the sender’s and recipient’s wallet compatibility.

Mastercard has launched its Crypto Credential solution, which will make it easier for people in the UAE and Kazakhstan to use cryptocurrencies. This launch enables the users to send and receive digital assets through easily memorable names instead of complicated blockchain addresses, making it easier to incorporate crypto.

Crypto Credential is one of Mastercard’s efforts to strengthen the security of digital asset transactions. Through cooperation with regulated exchanges like CoinMENA in the UAE, Fuze in Dubai, and ATAIX Eurasia in Kazakhstan, the solution is designed to enable the verification of transactions and ensure that both transacting parties have met certain verification standards. It also checks that the recipient’s wallet can accept the transferred asset.

It ensures that crypto users have a certain degree of confidence in the service, which checks the transaction details, including Travel Rule data and metadata sharing. Mastercard believes simplicity is key in crypto transactions to help boost trust among consumers and businesses.

“We are excited to see Mastercard embracing blockchain technology,” said Talal Tabba, CEO of CoinMENA. “Innovations like Crypto Credential are key to making digital assets more user-friendly, especially for those transitioning from traditional finance.”

How Mastercard Crypto Credential Works

The adoption of Crypto Credentials begins with the user’s validation in accordance with the Mastercard guidelines. After successful validation, users are given a unique alias that can be utilized on any supported exchange for transferring and receiving cryptocurrencies.

When a transfer is initiated, the system verifies if the recipient’s alias is active and if the wallet of the recipient supports the given digital asset. If not, the sender is informed, and the transaction is stopped to avoid the loss of the funds. This mechanism ensures security and ease of use since users are shielded from mistakes and deceit.

Initially, the pilot phase will cover only peer-to-peer transactions. Nevertheless, Mastercard plans to use Crypto Credentials in several services in the future. Some of the possible applications are Non-Fungible Tokens (NFTs), ticketing, and other new payment applications based on the market’s needs and legal frameworks.

A Broader Expansion Across Regions

Mastercard Crypto Credential is not only available in the UAE and Kazakhstan. It is part of a greater implementation strategy for the company’s commercialization plans in markets across North America, Europe, Latin America, and Asia-Pacific. This expansion enables the user to transfer digital assets not only within these regions but also across blockchains and types of assets.

The new initiative has garnered support from industry leaders. Arutyun Poghosyan, CEO of ATAIX Eurasia, expressed enthusiasm about the collaboration, stating, “We are incredibly excited to implement Mastercard’s Crypto Credential technology. This partnership strengthens our position in the crypto space.”

In addition to the Crypto Credential, Mastercard has also collaborated with JPMorgan to create innovative B2B cross-border payment flows. CNF has earlier covered that the partnership links Mastercard’s MTN and JPMorgan’s Kinexys Digital Payments and is beneficial for businesses, according to CNF. 

This partnership leverages a single API to streamline foreign transactions, and minimize the time that is usually lost in crossing borders and other barriers that have hitherto slowed down global trade.

@ Newshounds News™

Source:  Crypto News Flash

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XRP BULLS IN ACTION? KOREAN EXCHANGE SEES STUNNING OUTFLOWS

Popular cryptocurrency XRP eyes mysterious $60 million whale activity on Korea's biggest exchange

A big XRP transfer from Upbit, South Korea's biggest crypto exchange, is causing some buzz about what it might mean for the popular cryptocurrency. Whale Alert tracked the withdrawal of 24 million XRP, worth about $60.63 million, from Upbit's wallet "rDxJNb" to an address that had not been recognized before, "r9n1JL."

 It is common for such a movement to be made between the big players in the cryptocurrency game, like Ripple or major exchanges like Binance, so it's possible this wallet could even belong to Upbit itself. But this is just guesswork, and we are still not sure who owns the address.

While it is tempting to think this is a sign that whales are building up their holdings, it's best not to jump to any conclusions just yet. Have to do some more digging and keep a close eye on things to see what is really going on.

@ Newshounds News™

Read more:  U Today

~~~~~~~~~

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“Tidbits From TNT” Monday Morning 1-13-2025

TNT:

Tishwash:  Central Bank Renews Directive to Spread and Expand Financial Services and ATMs

The Central Bank of Iraq renewed, on Sunday, a directive to banks and non-banking financial institutions to spread and expand their financial services in areas that lack the presence of various services for bank card holders.

The Central Bank said in a statement received by "Al-Eqtisad News" that "the bank is working within its strategy to provide various services to bank cardholders, by expanding the spread of cash delivery outlets and through all available channels, including ATMs and POC cash payment devices, as well as authorized exchange companies, electronic payment company outlets, and POS electronic payment devices spread throughout Iraq."

The statement added, "The Central Bank confirms in its circulars that included directing banks and non-banking financial institutions to spread and expand their financial services in areas that lack the aforementioned services."

He continued, "The bank seeks to develop these services by establishing the latest infrastructure for financial products and services in Iraq, and improving them continuously," calling for "submitting inquiries and complaints, if any, through the following link: https://complaint.app.cbi.iq/."link

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Tishwash:  Currency smuggling.. Central Bank punishes 10 Iraqi banks due to foreign transfer violations

MP Baqir Al-Saadi confirmed today, Sunday, that the Central Bank of Iraq issued penalties against ten Iraqi banks due to violations related to the foreign transfers file, which has become a direct threat to the local economy.

Al-Saadi said in a statement to Al-Maalouma Agency, “The file of smuggling hard currency outside Iraq is still a source of great concern, amidst multiple question marks about the mechanisms for implementing these operations, especially with the ongoing investigations into the commission of serious violations by exchange offices and banks in foreign transfers.”

He added that "the penalties issued by the Central Bank against 10 banks so far come within the framework of reducing violations related to foreign transfers, which are considered one of the most prominent methods used to smuggle currency out of the country."

Al-Saadi pointed out that “currency smuggling has serious effects on the local economy and causes an increase in financial crises in the country,” noting that “most of the transfers made for the purpose of smuggling go to one of the Gulf countries, which "Requires serious reconsideration and the implementation of strict measures to stop this ongoing bleeding."

The representative stressed that "the Iraqi Financial Institution is working seriously to address this problem by setting new criteria and re-evaluating the tools used in financial transactions, with the importance of revealing the results of the investigations to public opinion." link

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Tishwash:  Government Advisor: ASYCUDA System is a Vital Tool for Developing Customs Work and Boosting International Trade

The Prime Minister's Advisor for Financial Affairs, Mazhar Muhammad Salih, reviewed today, Sunday, the importance of adopting the ASYCUDA system in customs administration, noting that it reduces delays at ports and boosts international trade.

Saleh told the Iraqi News Agency (INA): "ASYCUDA is a customs data management system developed by the United Nations Conference on Trade and Development (UNCTAD) since the eighties of the last century, as this system aims to simplify and accelerate customs and border crossing operations using modern digital technology, according to the generations of the system applied, including the second advanced generation that relies on cloud digital technology."

He added that "in line with the government program to enhance the efficiency of collecting non-oil revenues and make them no less than 20% of total revenues, the Ministry of Finance and government support agencies have taken the step of joint cooperation with the United Nations to develop customs control and collection systems and control the movement of imports and exports in accordance with the best digital measures in applying customs tariffs on incoming imports and conducting matches with countries of origin."

Saleh continued that "the General Authority of Customs and the Border Ports Authority completed the procedures for working with the ASYCUDA system last year and are progressing in the new year 2025, including providing high-quality digital infrastructure," noting that "the importance of implementing the ASYCUDA system is that it provides comprehensive automation of customs operations, such as data recording, fee assessment, customs clearance, and records management."

The Prime Minister's Advisor for Financial Affairs explained that "this system reduces delays at border crossings and increases efficiency, in addition to enhancing transparency and disclosure of traded materials, and most importantly, it reduces corruption by reducing direct human interaction and adopting a reliable electronic system for recording and processing data," noting that "the increase in customs revenues that occurred last year was due to ASYCUDA's role in improving the process of assessing customs duties and taxes, which ensures fair and accurate collection of revenues."

Saleh explained that "the system enhances international trade by reducing administrative obstacles and allowing for the acceleration of the clearance process, which encourages the growth of trade between countries, and helps support analysis and statistics, and even provides a comprehensive database on the movement of goods across borders, which supports decision-makers in setting economic and trade policies. As for improving border security, the ASYCUDA system allows for better tracking and inspection of shipments, which helps combat smuggling and illegal activities."

He stated that "the ASYCUDA system is a vital tool for developing customs work and achieving a balance between facilitating trade and protecting borders, which makes it a fundamental pillar of any modern customs system, as Iraq is among the group of Arab countries that apply this system in an integrated manner in ports, airports and land borders, including Jordan, the Emirates, Saudi Arabia and Egypt." link

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Mot: .. Warning them Young fur Sure!!! 

Mot: .... Frustrating When This Happens  

News, Rumors and Opinions Sunday PM 1-12-2025

TNT:

Tishwash:  Kurdish MP: Postponing today's session is a shock to MPs, and the parliament presidency bears responsibility

The representative of the Kurdistan Democratic Party, Jiay Timur, expressed his dissatisfaction with the performance of the current parliamentary session, while describing the lack of quorum and the adjournment of the session before it began as a “shock” to the representatives.

Timur told {Euphrates News} that: "The lack of quorum and the adjournment of the session before it started was a shock to the MPs, and there were 154 MPs in attendance in today's session."

He stressed that "announcing sessions without holding them due to the absence of MPs has become a recurring phenomenon," holding the parliament presidency "responsible for this delay."
Timur stressed "the need to pressure MPs to attend in order to legislate laws that affect the lives of citizens."

He pointed out that "the disagreements over some laws are because they concern certain segments or components and not others," explaining that "the agenda of today's session included seven non-controversial paragraphs, and it was expected that the session would be held without problems." link

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Tishwash:  The Central Bank is working to provide various services to bank card holders.

The Central Bank of Iraq works within its strategy to provide various services to bank cardholders, by expanding the spread of cash delivery outlets and through all available channels, including ATMs and POC cash payment devices, as well as authorized exchange companies, electronic payment company outlets, and POS electronic payment devices spread throughout Iraq.

The Central Bank confirms in its circulars that included directing banks and non-banking financial institutions to spread and expand their financial services in areas that lack the aforementioned services.

While the bank seeks to develop these services by establishing the latest infrastructure for financial products and services in Iraq, and improving them continuously.

The Central Bank invites you to submit inquiries and complaints, if any, through the following link:  https://complaint.app.cbi.iq/

Central Bank of Iraq 
Media Office  January 12, 2025  link

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Militia Man  We've been spot on talking about the dollar auctions going to cease and sure enough they have.  I'm thankful that has happened because I know what I own and I'm looking forward to it just like everybody else.

Frank26  Last week I followed [the parallel black market rate]...On Sunday it was 1310, on Monday it was 1275, on Tuesday it was 1170, Wednesday it was 1160.  IMO Sudani is looking for the black market to reach 1,000.  When he does, IMO, the game is on.  That is the next step ladies and gentlemen.  They are watching the illegal black market...the value of the dollar is dropping, thank you CBI for stopping the auctions...We're getting close to the next step.

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MARKETS A LOOK AHEAD: ON THE EDGE OF A WORLD DEBT MARKET IMPLOSION.

Greg Mannarino:  1-12-2024

https://www.youtube.com/watch?v=WHe0MNAc_Yk

ADDICTED TO SPENDING: How America’s Debt Addiction Is Triggering Collapse

Taylor Kenny:  1-12-2025

The U.S. economy is on a collision course with hyperinflation and a currency reset as reckless government spending spirals out of control. Discover why stagflation and hyperinflation are inevitable, what history teaches us about economic collapse, and how you can safeguard your wealth. Learn why physical assets like gold and silver are your best defense against the coming crisis.

https://www.youtube.com/watch?v=Y_G74U4fVu4

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 1-12-25

Good Afternoon Dinar Recaps,

KENYA PREPARES TO LEGALIZE CRYPTOCURRENCIES: REPORT

Kenya's Treasury Secretary unveils plans to legalize cryptocurrencies, introducing regulations to harness blockchain potential while tackling money laundering and fraud risks.

Kenya is set to introduce legislation to legalize cryptocurrencies, marking a policy shift, according to a local report quoting Treasury Cabinet Secretary John Mbadi.

Speaking on Friday, Mbadi outlined the government’s plans to create a regulatory framework for cryptocurrencies, an industry that has operated in the shadows despite an official ban.

“Kenya’s financial sector is a beacon of innovation and growth in Africa,” Mbadi stated. “The emergence and growth of Virtual Assets and Virtual Asset Service Providers have given rise to innovations in the local and international financial system with dynamic opportunities and challenges.”

While recognizing the risks associated with cryptocurrencies, such as money laundering, terrorism financing, and fraud, Mbadi emphasized that a legal framework would allow Kenya see the benefits of the crypto market while mitigating its dangers.

“The Government of Kenya is committed to creating the necessary legal and regulatory framework in order to leverage opportunities presented by VAs and VASPs while managing the resultant risks,” he added.

IMF Urges Kenya to Establish Clear Crypto Regulations

The proposed policy seeks to establish a fair and competitive crypto market and improve financial literacy across the country.

This initiative aligns with recent calls from the International Monetary Fund (IMF), which urged Kenya to develop regulations to address consumer protection and financial crime concerns related to cryptocurrencies.

In a technical assistance report released on January 8, the IMF outlined shortcomings in Kenya’s current regulatory approach to crypto assets.

Outdated frameworks have struggled to address the rise in crypto-related scams and illicit activities, leaving consumers vulnerable to financial risks.

With Kenya joining the growing list of African nations embracing cryptocurrency, this regulatory shift could position the country as a regional hub for blockchain innovation while addressing systemic risks.

@ Newshounds News™

Source:  CryptoNews

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SINGAPORE LABELS POLYMARKET ILLEGAL GAMBLING, RESTRICTS SITE ACCESS

▪️Singapore blocks Polymarket, citing unlicensed gambling.

▪️Polymarket faces a ban in France and CFTC subpoena in the US.

Singapore has officially blocked Polymarket, a crypto-based betting platform, citing its unlicensed status in the country.

Warning Notice

Visitors to the site are greeted with a warning from the Gambling Regulatory Authority, labelling it an illegal gambling operation.

The notice warns that gambling on unlicensed platforms may result in fines, jail time, or both.

The block falls under the Gambling Control Act 2022, which mandates that all gambling operators targeting Singaporean residents obtain proper licensing.

Singapore currently restricts online gambling to state-approved operators like Singapore Pools, the country’s sole licensed provider.

Polymarket, known for hosting high-stakes prediction markets on events like the US presidential election, is also encountering resistance in Europe.

In France, the country’s gambling regulator, ANJ, blocked access to the platform in November.

According to The Big Whale, a French crypto news outlet, the ANJ considers Polymarket a form of illegal betting.

A source close to the regulator claimed, “This is not legal in France,” as officials examine its compliance with local gambling laws.

Meanwhile, in the United States, the platform is under fire from the CFTC, which has proposed stricter rules on prediction markets.

On Thursday it was revealed that Coinbase notified customers it received a subpoena from the CFTC seeking account information tied to Polymarket.

@ Newshounds News™

Source:  DL News

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'LIVE FREE OR DIE': NEW HAMPSHIRE THE LATEST STATE TO CONSIDER BITCOIN RESERVE BILL

New Hampshire Rep. Keith Ammon proposed a bill to enable a Bitcoin treasury reserve, which he framed as a matter of state sovereignty.

New Hampshire Rep. Keith Ammon (R) proposed a bill Friday that would enable the state’s Treasury to invest a portion of public funds into digital assets and precious metals.

Not only would the move insulate the Granite State from the threat of runaway inflation, but it would also dovetail with some of New Hampshire’s cultural values, Ammon told Decrypt.

“The ethos in New Hampshire is ‘Live Free or Die’—leave me alone, and don’t burden me with too many regulations,” he said. “We’re tied to the U.S. dollar, whether we like it or not, but this would allow us to have the state invest a small portion into this uncorrelated, new asset class.”

 Newshounds News™

Read more:  Decrypt

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RIPPLE AND MOONPAY PLEDGE $50,000 IN RLUSD TO LAFD FOUNDATION FOR CALIFORNIA WILDFIRE RELIEF

▪️Wildfires in California have reportedly destroyed about 12,000 structures leading to over 11 fatalities, with containment still a challenge.

▪️Ripple and MoonPay donated $50,000 worth of RLUSD to the Los Angeles Fire Department Foundation, supporting first responders amid the crisis.

@ Newshounds News™

Read more:  Crypto News Flash

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The Center of the Next Meltdown

The Center of the Next Meltdown

Liberty and Finance:  1-11-2025

The stability of the American banking system is under increasing scrutiny, with experts like Todd “Bubba” Horwitz raising serious alarms.

During a recent discussion with Liberty and Finance, Horwitz expressed profound concerns about the precarious state of banks, particularly their alarming levels of leverage, suggesting we could be nearing another financial crisis.

Horwitz’s analysis paints a picture of a banking sector excessively reliant on the Federal Reserve’s monetary policy. He argues that banks have become acutely dependent on low interest rates and the Fed’s interventions, creating a fragile system.

While recent interest rate hikes have temporarily boosted bank profits, Horwitz believes this is merely a delay tactic, masking the underlying problems and increasing the eventual shock that is coming.

His core concern stems from the massive amounts of debt held by individuals and businesses. Horwitz anticipates that when credit card bills and loan payments come due, defaults will skyrocket, exposing the vulnerability of banks that are heavily invested in these debt instruments. This scenario, he believes, is a recipe for disaster.

“The banks have been benefiting from the rate hikes, but it’s just pushed the can down the road,” Horwitz warned. “When that debt starts to come due, we’re going to see the cracks appear, and the walls come down.”

He asserts that the overleveraged nature of the banking system makes it a likely catalyst for a future market meltdown. He fears it won’t be a gradual downturn, but a sudden and potentially catastrophic event emanating from the financial sector’s instability.

The specter of another financial crisis echoes the 2008 recession, where taxpayers were forced to bail out failing financial institutions. Horwitz suggests that history is poised to repeat itself, with the American public once again facing the burden of rescuing reckless banks.

This potential bailout would have far-reaching consequences, further eroding public trust and potentially leading to more economic hardship for the middle class.

The implications of such a crisis extend far beyond Wall Street. Horwitz emphasizes that the banking sector’s instability could send shockwaves throughout the broader economy. Businesses could face difficulties accessing credit, consumer spending might shrink, and job losses could climb, all contributing to a significant economic downturn.

However, amidst these dire predictions, Horwitz offers a crucial piece of advice: don’t panic. He suggests that individuals take proactive steps to protect their financial well-being. He advocates hedging portfolios with assets that tend to perform well during economic uncertainty.

This might include precious metals, specific commodities, or other investments that can act as a buffer against market volatility. The goal, according to Horwitz, isn’t to fear the storm but to be prepared for it.

In conclusion, Todd “Bubba” Horwitz’s analysis presents a stark warning about the fragility of the current banking system. His concerns about overleveraging and the potential for a bank-led crisis underscore the need for vigilance and prudent financial planning.

While the future remains uncertain, Horwitz’s message is clear: the time to act is now, before the potential storm hits. He urges individuals to avoid panic, assess their risk, and take steps to safeguard their financial futures. The potential consequences of neglecting these warnings could be significant, particularly for the middle class and the overall health of the American economy.

https://youtu.be/0q_Mc29Mxg8