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More News, Rumors and Opinions Wednesday PM 1-15-2025
TNT:
Tishwash: Advisor to the Prime Minister: Iraq is witnessing an expected investment boom in 2025
Amina Al-Salami
Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, confirmed today, Wednesday, that the Iraqi economic path is moving in the right development direction for the coming years, while indicating that economic growth in 2024 constitutes an incentive to expand economic activities in Iraq.
Saleh said, in a statement to the Iraqi News Agency (INA): "There is a principle in the economy called the economic accelerator, which means that the growth in the non-oil GDP, which reached 6% in 2024, will be positively reflected in the strength of national investment in 2025."
TNT:
Tishwash: Advisor to the Prime Minister: Iraq is witnessing an expected investment boom in 2025
Amina Al-Salami
Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, confirmed today, Wednesday, that the Iraqi economic path is moving in the right development direction for the coming years, while indicating that economic growth in 2024 constitutes an incentive to expand economic activities in Iraq.
Saleh said, in a statement to the Iraqi News Agency (INA): "There is a principle in the economy called the economic accelerator, which means that the growth in the non-oil GDP, which reached 6% in 2024, will be positively reflected in the strength of national investment in 2025."
He added, "The Iraqi economy will witness a high investment boom in 2025 thanks to the economic accelerator factor in the investment field, in addition to the high positive growth effects of national income in 2024."
He pointed out that "businesses and investors are affected by the results of the basic idea behind the economic accelerator, which indicates that any increase in demand for goods and services as a result of national income growth in 2024 could lead to increased investment in capital such as machinery, equipment and labor in 2025."
He continued, "businesses and activities need to expand their production capacity to meet the growing demand for goods and services, which will lead to a positive accumulation in the national economy's production capacity in 2025, and this is what can be expected, especially if it is accompanied by a good agricultural season and a wet year in the coming months."
He added, "Iraq's economic path is moving in the right development direction for the coming years in a remarkable and positive way, thanks to the cooperation of the private and public sectors together."link
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Tishwash: Al-Hashemi criticizes Al-Sudani's visit... Our money saves Britain's collapsing economy!
Economist Ziad Al-Hashemi presented a pessimistic view of the Iraqi Prime Minister's visit to Britain, considering that it came at a time when the British economy is suffering from stifling crises that may force his government to resort to borrowing from the International Monetary Fund.
Al-Hashemi stated in a post on the (X) platform that “the British economy is going through its worst phase in decades, with a financial deficit of nearly $100 billion, weak economic growth, high inflation rates, capital flight, and weak investment.”
He pointed out that "the contracts signed by Iraq with the British side during this visit will inject huge Iraqi funds into the British economy, which is a boost to a weak economy suffering from deterioration."
Al-Hashemi asked: “Did the Iraqi Prime Minister have a complete understanding of the weakness of the British economy? Was this situation exploited to achieve additional security and geopolitical gains for Iraq before signing the contracts? Or did the historic opportunity pass without being exploited?”
He concluded by saying, “Negotiation is an art that requires people who have a complete vision and understanding of the circumstances of the other party, in order to exploit them in a way that achieves the greatest possible interests for Iraq.” link
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Militia Man One of the last things they do...before they go international, is to have their banks restructured or really close to being completed. That's their focus...That's part of the process and we're seeing that...It surely looks really powerful.
Frank26 Article: "House of Representative completes the second reading of the draft amendment to the budget law." Is that the second reading to the budget? It's actually the 2nd reading to a draft of the amendment of the budget...They didn't read the whole budget. They only read the part they amended, [read] for the second time...That law IMO is all that's needed. You don't have to read it, 15 days later it become law.
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Bank Of America Is Now Using XRP
Economic Ninja: 1-14-2025
Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 1-15-25
Good Afternoon Dinar Recaps,
THE SEC PLANS TO MOVE FAST ON CRYPTO POLICY OVERHAUL UPON TRUMP’S INAUGURATION
▪️The SEC is preparing to overhaul crypto policy under a new pro-industry chair, Paul Atkins, replacing Gary Gensler.
▪️Commissioners Hester Peirce and Mark Uyeda plan to clarify which cryptoassets are securities and reduce enforcement actions.
▪️Experts expect Congress and the White House to join the SEC in promoting innovation-friendly regulations.
Good Afternoon Dinar Recaps,
THE SEC PLANS TO MOVE FAST ON CRYPTO POLICY OVERHAUL UPON TRUMP’S INAUGURATION
▪️The SEC is preparing to overhaul crypto policy under a new pro-industry chair, Paul Atkins, replacing Gary Gensler.
▪️Commissioners Hester Peirce and Mark Uyeda plan to clarify which cryptoassets are securities and reduce enforcement actions.
▪️Experts expect Congress and the White House to join the SEC in promoting innovation-friendly regulations.
Under Trump’s administration, the SEC is set to begin an overhaul of its crypto policy as soon as next week. Rumored first steps include reassessing which cryptoassets are securities and cooling off enforcement actions.
Commissioners Hester Peirce and Mark Uyeda both worked with incoming Chair Paul Atkins in the past and are actively planning to cooperate again as a pro-crypto majority.
The SEC’s Role in Crypto Policy
According to a report from Reuters, the SEC is ready to hit the ground running with radical changes to crypto policy. Less than a week remains until Donald Trump’s inauguration, and some experts anticipate a new rally.
New rumors of pro-crypto executive orders already juiced Bitcoin’s price, and Congressional industry allies are planning their own moves:
“Under Gensler, the SEC refused to provide clarity to the crypto industry. Moving forward, [we] will work to build a regulatory framework that… will promote consumer choice, education, and protection [and] foster an open-minded environment for new, innovative financial technologies and digital asset products,” claimed Senator Tim Scott.
In other words, the SEC is only one player in a broad coalition of crypto policy reform. To that end, the Commission is preparing for its Chair, Gary Gensler, to resign on Inauguration Day. A pro-industry replacement, Paul Atkins, has already been selected, but some of its sitting Commissioners are already planning their next moves.
Hester Pierce, who has long opposed SEC crypto crackdowns, and fellow pro-crypto Commissioner Mark Uyeda are weighing a few options to influence policy.
The pair both worked closely with Atkins in the past, and sources have claimed they plan to clarify which cryptoassets legally qualify as securities. They have yet to comment on other specific changes.
Trump’s SEC team is here to shake things up in crypto! Hester Peirce and Mark Uyeda are taking a second look at the ongoing cases—some might even get frozen if no fraud’s involved. The big play? Boosting Bitcoin. Pompliano’s already throwing ideas like a national Bitcoin reserve and no capital gains tax on BTC payments,” wrote Mario Nawfal.
Crypto Lawsuits Are Likely to Slow Down
One strong possibility for a policy change is the SEC drastically reducing its crypto crackdowns. In his last days, Gensler has been recalcitrant about maintaining a fight with Ripple, even though his effort could soon fall apart.
After he leaves, the SEC may drop this and “dozens” of other enforcement actions. As BeInCrypto reported earlier, Trump is already expected to sign a pro-crypto executive order on his first day. The order will likely overturn controversial SAB 121, which restricts banks from holding crypto.
Although the courts may not approve of such a cool-down period, there is precedent. Shortly after Trump’s election, the US Attorney for the SDNY signaled that his office would scale back crypto prosecutions.
This district enforces many high-profile finance activities, including the Sam-Bankman Fried case, but it still openly plans to ease off.
In other words, the SEC has many avenues for impacting US crypto policy in short order. Pierce and Uyeda haven’t signaled any other immediate plans besides classifying assets’ security status and reviewing enforcement cases. However, they are closely considering the issue.
Between a friendly SEC, Congress, and President, sweeping changes will be easy to implement.
@ Newshounds News™
Source: Be In Crypto
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U.K.’S NEW ECONOMIC SECRETARY EMMA REYNOLDS TO OVERSEE CRYPTO
Emma Reynolds, former parliamentary secretary at the Treasury, has been appointed the new economic secretary.
Reynolds’s appointment follows the resignation of Tulip Siddiq, who stepped down in a letter to the Prime Minister. Siddiq, the member of parliament for Hampstead and Highgate, cited personal reasons for her departure.
The new economic secretary will play a key role in shaping the government’s crypto regulation agenda. In addition to digital assets, Reynolds will oversee the U.K.’s central bank digital currency plans.
Her appointment comes as the U.K. continues to push for greater regulatory compliance in the crypto sector. The government has pursued this approach over the past few years as part of its ambition to become a leading hub for digital assets innovation.
Market watchdogs, such as the Financial Conduct Authority, have adopted a more supportive stance toward the crypto industry in recent months, contrasting with the stricter approach taken by the U.S. under outgoing SEC Chair Gary Gensler.
The landscape has shifted since Donald Trump’s election, and industry players are optimistic about what the new SEC leadership could mean for the crypto ecosystem in the U.S. Trump will be inaugurated on Jan. 20.
As crypto.news highlighted, the SEC plans to move away from its “regulation by enforcement” strategy and freeze certain ongoing lawsuits that do not involve fraud.
While it remains to be seen how Reynolds will impact the U.K.’s crypto policies, the general sentiment is that the country aims to remain competitive amid growing global crypto adoption.
In December 2024, the European Union’s Markets in Crypto Assets (MICA) rules came into full effect, with industry players keen on leveraging the clarity MiCA offers to expand across the bloc.
The U.K.’s own legislation on cryptocurrencies and stablecoins is expected to be finalized in early 2025.
@ Newshounds News™
Source: Crupto News
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H.R.369 - To provide for the elimination of the Department of Education, and for other purposes.
Sponsor: Rep. Rouzer, David [R-NC-7] (Introduced 01/13/2025)
Committees: House - Education and Workforce
Latest Action: House - 01/13/2025 Referred to the House Committee on Education and Workforce.
As of 01/15/2025 text has not been received for H.R.369 - To provide for the elimination of the Department of Education, and for other purposes.
[Congressional Record Volume 171, Number 6 (Monday, January 13, 2025)]
[House]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
By Mr. ROUZER:
H.R. 369.
Congress has the power to enact this legislation pursuant
to the following:
Article I, Section VIII
[Page H112]
About Constitutional Authority and Single Subject Statements
Pursuant to clause 7(c) of House Rule XII and Section 3(c) of 118th Congress H.Res. 5, Rule XII, to be accepted for introduction by the House Clerk, all bills (H.R.) and joint resolutions (H.J.Res.) must provide a document stating “a statement setting forth the single subject of the bill or joint resolution” and "as specifically as practicable the power or powers granted to Congress in the Constitution to enact the bill or joint resolution."
@ Newshounds News™
Source: Congress
~~~~~~~~~
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Seeds of Wisdom RV and Economic Updates Wednesday Morning 1-15-25
Good Morning Dinar Recaps,
BRICS NEWS: INDONESIA WANTS RUSSIAN OIL DEAL, IS UNAFRAID OF TRUMP WARNING
With the ongoing geopolitical concerns waging between the global south and the west, the plot has certainly thickened. Indeed, the BRICS expansion nation, Indonesia, has recently stated it wants to buy Russian oil while stating it remains unafraid of Western retaliation or the ongoing tariff warning from US President-elect Donald Trump.
Since Trump emerged victorious in the 2024 presidential election, he has issued a stark threat to the economic alliance specifically. Although focused on de-dollarization, oil bought from Russia would only further its local currency promotion policies. Therefore, it could be subject to the same consequence from the West. The question is, does it matter to nations now joining the group?
Good Morning Dinar Recaps,
BRICS NEWS: INDONESIA WANTS RUSSIAN OIL DEAL, IS UNAFRAID OF TRUMP WARNING
With the ongoing geopolitical concerns waging between the global south and the west, the plot has certainly thickened. Indeed, the BRICS expansion nation, Indonesia, has recently stated it wants to buy Russian oil while stating it remains unafraid of Western retaliation or the ongoing tariff warning from US President-elect Donald Trump.
Since Trump emerged victorious in the 2024 presidential election, he has issued a stark threat to the economic alliance specifically. Although focused on de-dollarization, oil bought from Russia would only further its local currency promotion policies. Therefore, it could be subject to the same consequence from the West. The question is, does it matter to nations now joining the group?
Indonesia Eyes Increased BRICS Trade as They Remain Willing to Pay ‘Geopolitical Costs’
For the last two years, the BRICS alliance has been the subject of interest for a number of nations. With the bloc championing economic equality on a global scale, it has sought to challenge the dollar. Now, that pursuit has elicited a harrowing response from the incoming US President. Yet, that has not deterred one of its most recent expansion countries.
The newest BRICS country, Indonesia, is reportedly seeking to buy Russian oil, while also noting they remain undeterred by Trump’s 100% tariff threat. Moreover, they have discussed increased exports to both China and India, with eyes on solidifying its place in the collective.
Indonesia’s Minister of Energy and Mineral Resources, Bahlil Lahadalia, recently said, “An opportunity to acquire oil from Russia emerged after we joined BRICS.” He noted that the opportunity would be one they accept.
“As long as it complies with regulations and presents no issues, why not?” Minster Lahadalia added. His sentiments were similar to Indonesia’s National Economic Council Chair, Luhut Binsar Pandjaitan.
“As long as it benefits the Republic of Indonesia, we are open to discussing it. If this step allows us to purchase oil at US$20 or US$22 cheaper, why not?” he added. This drove some concerns over Western retaliation. Yet Trade Minister Zulkifil Hasan answered those, noting that the country would not operate its trade dealings out of fear.
“Why don’t we want to [buy Russian oil]? We’re afraid? There’s no room for being afraid in trade. How can one conduct trade if one is afraid?” However, international relations and Indonesian politics expert, Ahmad Risky Umar, notes that “there is likely to be geopolitical costs.” Moreover, the country president, Pabowo Subianto, is said to be aware of and prepared to navigate them.
@ Newshounds News™
Source: Watcher Guru
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ELON MUSK FIRES BACK AT ‘BROKEN’ SEC AMID $150M X LAWSUIT
▪️SEC sued Elon Musk for delaying disclosure of his X share acquisitions in 2022.
▪️Musk criticized the SEC as the community backed him.
The U.S. Securities and Exchange Commission (SEC) has sued Elon Musk. They accuse him of failing to disclose his large Twitter share acquisition on time in early 2022.
The SEC alleges this delay allowed Musk to secure his stake at an artificially reduced price, saving $150 million.
The late disclosure also affected other investors. They missed the chance to sell their shares at potentially higher values, unaware of Musk’s involvement.
Why did the SEC sue Musk?
Under SEC rules, investors surpassing a 5% stake in a public company must report it within ten days—a requirement Musk allegedly exceeded by eleven days.
The SEC alleged stating,
“Because Musk failed to timely disclose his beneficial ownership, he was able to make these purchases from the unsuspecting public at artificially low prices.”
The SEC also added,
“That day, Twitter’s stock price increased more than 27% over its previous day’s closing price.”
For context, the SEC alleges that Tesla CEO Elon Musk began acquiring Twitter shares in early 2022. By March 14th, he had surpassed a 5% ownership threshold.
Between the 24th of March and the 4th of April 2022, Musk reportedly spent over $500 million to buy additional shares, underpaying Twitter investors by more than $150 million.
The regulator claims that Musk’s failure to disclose his ownership on time allowed him to buy shares at artificially low prices. The market was unaware of his significant stake, a material fact that would have influenced stock valuations.
This occurred days before Gensler’s resignation
Interestingly, the timing of the SEC’s lawsuit coincides with significant leadership transitions, as Chair Gary Gensler prepares to step down on 20th January, marking the start of Donald Trump’s presidency.
This period also aligns with Musk’s upcoming role as the head of the newly established “Department of Government Efficiency” (D.O.G.E.), where he will advise the incoming administration on streamlining government operations.
The overlap of these developments adds an intriguing layer to the unfolding legal and political narrative surrounding Musk and his involvement with X(formerly Twitter).
As anticipated, Musk took to X to voice his criticism of the SEC, and stated,
“Totally broken organization. They spend their time on shit like this when there are so many actual crimes that go unpunished.”
Needless to say, the community stood in favor of Musk.
@ Newshounds News™
Read more: AMB Crypto
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CONGRESSMAN TOM EMMER APPOINTED AS VICE CHAIR OF DIGITAL ASSETS SUBCOMMITTEE, PROMISES AMERICA WILL GUIDE CRYPTO FUTURE
Emmer is a pro-crypto Congressman who now joins Bryan Steil as part of the subcommittee’s leadership to oversee crypto regulation in the US.
▪️Under Trump's leadership, Emmer will serve as the vice chair of the crypto and AI subcommittee.
▪️Emmer promises to put the country at the forefront of crypto progress and innovation, especially with SEC Chair Gary Gensler gone.
▪️Emmer is crypto-forward, and has contributed to multiple bills, including an anti-surveillance bill passed last year.
Congressman for Minnesota’s 6th District, Tom Emmer, has been appointed as Vice Chairman of the Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence. In an X post published earlier today, Emmer expressed eagerness to work with subcommittee Chairman Bryan Steil as they steer the future of crypto and AI.
@ Newshounds News™
Read more: CoinSpeaker
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News, Rumors and Opinions Wednesday AM 1-15-2025
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Wed. 15 Jan. 2025
Compiled Wed. 15 Jan. 2025 12:01 am EST by Judy Byington
Global Currency Reset: (RUMORS)
Tues. 14 Jan.: “All the information is saying “Next week.” …JFK Awakening Q17 on Telegram
On Wed. 15 Jan 2025 a 48-Hour Communication Blackout will (allegedly) begin where there will be a redistribution of wealth (GCR GESARA) Worldwide. …JFK Jr. on Telegram
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts from the Restored Republic via a GCR: Update as of Wed. 15 Jan. 2025
Compiled Wed. 15 Jan. 2025 12:01 am EST by Judy Byington
Global Currency Reset: (RUMORS)
Tues. 14 Jan.: “All the information is saying “Next week.” …JFK Awakening Q17 on Telegram
On Wed. 15 Jan 2025 a 48-Hour Communication Blackout will (allegedly) begin where there will be a redistribution of wealth (GCR GESARA) Worldwide. …JFK Jr. on Telegram
On Sat. 25 Jan. 2025, the first phase of the wealth redistribution will officially (allegedly) commence for the general public. …JFK Jr. on Telegram
On 19 Dec. 2024 the Iraqi Dinar (allegedly) revalued to $3.47 In country rate: https://x.com/realNateCarter/status/1879136476874801605?t=vgVTF3-iMBY68v5nEqF7xQ&s=09
Tues. 14 Jan. 2025 In Hong Kong China it is the New Year and they are(allegedly) exchanging: Banking new year joy with crisp notes | The Standard
Tues. 14 Jan. 2025 In Iraq the new Dinar Rate is digital and (allegedly) fully live: https://x.com/majeed66224499/status/1879126834836918451?s=52&t=Ich7hg6RGbObSjhen7byaw
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Tues. 14 Jan. 2025 Bruce: (RUMORS)
The US Treasury to activate the new US Note by Wed. 15 2025.
Sources say Bondholders will get emails for access to funds by Wed. 15 Jan. or Thurs. 16 Jan. 2025.
The Admirals Groups and Tier4b (us, the Internet Group) should follow soon.
The Shotgun Start should roll out over 48 hours.
The Intermediate Groups (CMKX, Adjudicated Settlements, Farm Claims, etc) should pay around the same time as Bond Holders.
We will be offered a 12% interest rate per year for five years paid on our primary and secondary bank accounts (not on our Quantum Account).
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Tues. 14 Jan. 2025 Payout for Tier Groups involved in the RV:
The Dubai Accounts Funds the RV: Dubai 1 funds Tiers 1&2 of the RV and Dubai 2 funds Tiers 3&4 of the RV, while Dubai 3 funds the Adjudicated Accounts and GESARA.
The payout of the Bonds and Currency is done in order of the different tiers. There are five Tiers that will be exchanging: Tiers 1, 2, 3, 4 & 5.
Liquidity Release is done in a certain order. The Elders, German Bonds and select Yellow Dragon Bonds must be paid first and have been.
A. Dubai 1 released for liquidity which then triggers Dubai 2&3.
B. F&P’s are released to recipients (they need D1 liquid, this is their hold up)
C. Bonds will be liquid (they need D1 to be liquid)
D. Tiers 1-4b are notified. (they need D1 to be liquid)
It appears all is set to go on or about the same time!
Tier 1 Sovereign Nation Debt of Governments: Chinese Royals, Bond Holders, Paymasters, Church Groups, CMKX, F&P, Adjudicated Settlements, Ranch and Farm Claims and other groups.
Tier 2 Royals, Elders, Whales, Military Generals and some political type Elites with platforms of currency, corporations, etc.
Tier 3 Admirals Group, American Indians, CMKX, large church groups like the Church of Jesus Christ of Latter-day Saints.
The Pentecostal group was now 100% under an NDA.
Tier 3 was all Dubai 2 Trust Money and originally was the Generals and public. Now Tier 3 includes groups with projects including the Admiral.
The Admiral was sent to the back of the line and renamed Tier 4A (really just a pie slice of tier 3). The Admiral’s Group was composed of three parts – most notable of which was Tier4a Core groups and 130 VIP groups.
Tier 4B, (us, the Internet Group) is the largest group and composed of the general public who paid attention to the intel – the people who have bought currency and/or bonds and kept up with the reset by way of information on the Internet.
Tier 5 The general public who never paid attention to the Intel.
The official GO for Tier 4b has not been released yet. It can happen any moment. As all Tier1-4b are funded, we await the final release to reach to our level. It’s a process. It’s tedious and time consuming – making adjustments as needed along the way for accuracy and safety of all involved. It’s a very quiet & discrete operation, where the general public is left uninformed for obvious reasons.
Pay attention to the levels that are ahead of us. That will help give a better understanding of where we are, in relation to it reaching the 4b level. BUT, it is unfolding. And when it reaches our levels, there will be no doubts. It’s coming! Keep the faith.
Read full post here: https://dinarchronicles.com/2025/01/15/restored-republic-via-a-gcr-update-as-of-january-15-2025/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Walkingstick The monetary reform education is extremely fast. They are now all the way to the point where they are past the basket and talking to the Iraqi citizens about the future of digitization in their country...Digitization of their currency mainly will help at the onset because you cannot introduce too much currency at the start...Not a cashless society at the onset but given time Iraq will be. That is the goal.
Sandy Ingram There are 6 major projects happening in Iraq that will help to increase the country's GDP and economic status and hopefully the value of the currency...These are the news stories we will be watching closely in 2025... 1. The Development Road Project involves constructing a 1,200 KM network of railways and highways connecting the Grand Faw Port in southern Iraq to the Turkish border in the north... 2. Grand Faw Port aiming to become the largest port in the Middle East... 3. Total Energy's energy projects... 4. Oil and Gas exploration agreements... 5. National Development Plan launched in collaboration with the United Nations Development Program and supported by the United States Agency for International Development (USAID)... 6. Housing and Urban Development Projects..15 new cities across the country...
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The US Debt Crisis, $36 Trillion and No Way Out?
Wealthion: 1-14-2025
The United States is grappling with a rapidly escalating national debt, now topping a staggering $36 trillion. This figure, far from being just an abstract number, is raising alarm bells among economists and financial experts, who fear it could trigger a full-blown solvency crisis with severe consequences for both domestic and global markets.
In a recent interview on Wealthion, Andrew Brill spoke with Chris Casey of WindRock Wealth to delve into the gravity of the situation. Casey argues that the U.S. is already in “crisis mode,” pointing to the unsustainable trajectory of the debt and its potential to destabilize the economy.
The interview paints a stark picture of the challenges facing the U.S. economy. The rapidly growing debt, coupled with rising interest rates and volatile markets, creates a perfect storm. While solutions are not explicitly stated, the message is clear: vigilance and strategic planning are paramount during this period of economic uncertainty. The question of whether there’s “no way out” remains open, but the urgency to address the debt crisis is undeniable. The discussion highlights that understanding the current economic landscape is crucial for anyone looking to safeguard their financial future.
“Tidbits From TNT” Wednesday Morning 1-15-2025
TNT:
Tishwash: Kurdistan Regional Government Prime Minister receives US delegation
Kurdistan Regional Government (KRG) Prime Minister Masrour Barzani on Wednesday received a US delegation headed by Deputy Assistant Secretary of State Victoria Taylor, in the presence of US Consul General to the region Steve Bittner and US State Department Special Envoy to Northeast Syria Scott Bolz.
During the meeting, they discussed ways to enhance bilateral relations, and discussed efforts related to forming the new ministerial cabinet of the regional government, in addition to the latest developments in Iraq and the region.
TNT:
Tishwash: Kurdistan Regional Government Prime Minister receives US delegation
Kurdistan Regional Government (KRG) Prime Minister Masrour Barzani on Wednesday received a US delegation headed by Deputy Assistant Secretary of State Victoria Taylor, in the presence of US Consul General to the region Steve Bittner and US State Department Special Envoy to Northeast Syria Scott Bolz.
During the meeting, they discussed ways to enhance bilateral relations, and discussed efforts related to forming the new ministerial cabinet of the regional government, in addition to the latest developments in Iraq and the region.
For her part, the US Deputy Assistant Secretary of State stressed the importance of the Kurdistan Region's position and its role as a partner of the United States of America.
The two sides agreed on the importance of resuming the export of Kurdistan Region oil as soon as possible, in the interest of all parties, especially since its suspension has caused great harm to the Iraqi federal general budget.
Another part of the talks was devoted to discussing the need to secure the financial rights and dues of the Kurdistan Region. In this regard, the Prime Minister stressed that the Region has fulfilled all its obligations within the framework of the general budget, and therefore Baghdad must send the Region’s dues as a federal and constitutional entity.
The meeting also discussed the general situation in Syria, stressing the need to preserve its security and stability, and guarantee the rights of the Kurdish people and all its components. link
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Tishwash: Iraq signs a memorandum of understanding with the British Export Credit Guarantee Corporation.. and these are its objectives
Today, Tuesday, in the British capital, London, a memorandum of understanding was signed between the Sovereign Guarantees Initiative Committee and the British Export Credit Guarantee Corporation, on the sidelines of the Prime Minister’s official visit to the United Kingdom.
The ceremony was held under the patronage of Deputy Prime Minister and Minister of Planning Mohammed Tamim, where the Chairman of the Initiative Committee, Advisor to the Prime Minister Mohammed Sahib Al-Daraji signed on the Iraqi side, while the Director of the Business Group, Adam Harris, signed on behalf of the British Foundation.
The terms of the memorandum include supporting imports of production lines and industrial and agricultural technology for the Iraqi private sector from the United Kingdom.
This memorandum is valid for five years, and comes within the framework of the agreements and memoranda of understanding signed by the Iraqi government with a number of European countries, and aims to raise the efficiency of the Iraqi private sector and achieve integration with the international community.
In another context, the two sides agreed that the British Export Credit Guarantee Corporation would finance a number of vital projects for the Iraqi government, and prepare to increase the financing ceiling for productive government projects.
The signing of the Memorandum of Understanding was preceded by a joint meeting between the Iraqi delegation and the British Foundation, during which mechanisms for joint cooperation between the two sides were discussed, in a way that enhances bilateral relations between the two countries. link
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Tishwash: Iraq faces economic collapse without reforms: Former Minister warns
Iraq could face severe economic challenges, including the inability to pay public sector salaries within two years, if critical reforms are not implemented, former Electricity Minister Luay Al-Khatib warned on Tuesday.
Describing Iraq’s governance as a system of “fiefdoms,” he emphasized the need for structural reforms to avoid what he called “inevitable collapse.”
In a statement on X, Al-Khatib highlighted the nation’s precarious economic situation, noting that “the deficit in federal budgets has reached 40%.”
He warned that if Iraq continues to draw on cash reserves amid fluctuating or falling oil prices, the value of the local currency could collapse. “In this scenario, the state will struggle to pay public sector salaries within two years,” he said.
Al-Khatib criticized the current governance model, stating, “Since the fall of the dictatorship in 2003, Iraq has been run by fiefdoms prioritizing private and sectarian interests.”
“This has transformed the private sector into a façade for political profiteering, deterring real investments and foreign currency inflow,” he added, attributing Iraq’s ongoing challenges to widespread “corruption” and the absence of social justice and economic sustainability.
Turning to the electricity sector, Al-Khatib dismissed claims of external interference, describing the issue as “entirely domestic and political.” He argued that political interests have obstructed efforts to reform and privatize the sector, leading to inefficiencies and corruption.
“The cost of government subsidies for electricity and oil exceeds $30 billion annually, with $20 billion allocated to electricity alone,” he revealed, describing this financial drain as unsustainable.
He called for “comprehensive reforms,” including restructuring the sector, revising tariffs, automating billing systems, removing illegal connections, and eliminating exemptions.
“These steps are critical to making the sector viable for privatization and attracting global-standard investments,” Al-Khatib said.
The former minister estimated that fully rebuilding Iraq would require over $1.5 trillion, a figure that far exceeds the nation’s oil revenues. “Attracting foreign investment and hard currency is the only viable solution,” he explained, urging the creation of a “secure and competitive investment environment free from political interference and armed groups.”
He emphasized the importance of offering incentives to investors that are competitive with those in other regional and global markets.
Al-Khatib concluded by calling for a decade-long commitment to economic reform in line with Iraq’s Constitution. “This process requires uninterrupted, cumulative efforts beyond the authority of a single ministry,” he said, noting that “It demands full Cabinet involvement, political backing, and a nationwide media campaign to educate the public with clear and transparent messaging.” link
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Mot: .... the Ten Commandments!!!
Mot: .. Yeppers!! -- Big Achievement -- HUH!!!!
Seeds of Wisdom RV and Economic Updates Tuesday Evening 1-14-25
Good Evening Dinar Recaps,
SEC FILES LAWSUIT AGAINST ELON MUSK FOR SECURITIES VIOLATION
Musk's lawyer claims the SEC's lawsuit is mere harassment with no substantial case.
▪️The SEC sued Elon Musk for failing to disclose his Twitter share purchases before acquiring the platform.
▪️Musk's lawyer claims the SEC's lawsuit is baseless and suggests no wrongdoing was committed.
Good Evening Dinar Recaps,
SEC FILES LAWSUIT AGAINST ELON MUSK FOR SECURITIES VIOLATION
Musk's lawyer claims the SEC's lawsuit is mere harassment with no substantial case.
▪️The SEC sued Elon Musk for failing to disclose his Twitter share purchases before acquiring the platform.
▪️Musk's lawyer claims the SEC's lawsuit is baseless and suggests no wrongdoing was committed.
The US SEC has initiated a lawsuit against Elon Musk in federal court, alleging he failed to timely disclose his purchase of more than 5% of Twitter (now X) shares before acquiring the social media platform, according to a Jan. 14 filing first shared by DB News.
The complaint, filed in federal court in Washington, DC, claims Musk’s delayed disclosure after accumulating more than 5% ownership allowed him to “underpay by at least $150 million for shares he purchased after his financial beneficial ownership report was due.”
Musk later acquired Twitter for $44 billion and renamed it X.
Alex Spiro, Musk’s lawyer, dismissed the lawsuit, stating it is “an admission” that the SEC cannot bring an “actual case,” because Musk “has done nothing wrong and everyone sees this sham for what it is.”
“As the SEC retreats and leaves office, the SEC’s multi-year campaign of harassment against Mr. Musk culminated in the filing of a single-count ticky tak complaint against Mr. Musk under Section 13(d) for an alleged administrative failure to file a single form – an offense that, even if proven, carries a nominal penalty,” Spiro said in a statement.
@ Newshounds News™
Source: CryptoBeiefing
~~~~~~~~~
UAE STEPS UP AS GLOBAL CRYPTO LEADER WHILE TRUMPS WATCH CLOSELY
Why does Eric Trump think UAE holds the answer to America’s crypto struggles?
▪️UAE’s crypto success showcases innovation-driven growth with clear regulations and tax incentives.
▪️Trump administration eyes blockchain and stablecoin integration to lead global digital finance competition.
As the United States braces for a potential cryptocurrency policy shift, with Donald Trump set to assume office on the 20th of January. Now, the spotlight has turned to global leaders in digital finance.
UAE’s crypto vision
Among them, the United Arab Emirates (UAE) stands out as a thriving hub for cryptocurrency and blockchain innovation.
Advocates suggest the UAE’s clear regulations and strategic investments offer a compelling blueprint for the incoming U.S. administration.
In fact, by embracing blockchain and establishing robust regulatory frameworks, the UAE has struck a leadership position in an industry where the U.S. has often faltered.
Eric Trump on UAE’s role in crypto
Speaking on the matter, Eric Trump during the Bitcoin [BTC] MENA conference in Abu Dhabi, underscored the UAE’s role as a model for crypto advancement.
He said,
“The UAE has shown how to do this right. By supporting crypto innovation, they’ve created jobs, attracted investment and strengthened their global standing. The U.S. can and should do the same.”
In fact, between July 2023 and June 2024, crypto transactions in the UAE soared to an impressive $34 billion, marking a 42% increase from the prior year, as per Chainalysis’ report.
UAE’s crypto success story
A key factor in this surge was the government’s decision to exempt cryptocurrency transactions from value-added tax. This exemption was applied retroactively to 2018.
This tax relief, designed to “supercharge” the sector, has reinforced the UAE’s position as a global leader in digital finance. It has attracted businesses and investors.
Additionally, there has been a significant focus on stablecoins due to their reliability in volatile cryptocurrency markets. Stablecoins are increasingly utilized for cross-border payments and everyday transactions.
Other developments
Additionally, in a notable development, Tether announced plans to introduce a Dirham-backed stablecoin in partnership with Abu Dhabi-based firms.
Remarking on the same, Eric Trump added,
“Stablecoins are a bridge between traditional and digital financial systems. They offer reliability and liquidity, making them a key tool for financial inclusion and global trade.”
Additionally, the UAE’s progressive integration of blockchain into public services and its balanced regulatory approach has further provided a compelling blueprint for various nations.
What should Trump take away from UAE’s playbook?
As the Trump administration focuses on digital finance, the U.S. faces a critical moment to redefine its role in the global crypto market.
With the sector’s market capitalization soaring to $3.3 trillion in 2024, the stakes have never been higher.
Trump’s decisive actions show a commitment to innovation while safeguarding investors. With fierce international competition, this isn’t just about reviving the crypto landscape—it’s a race to lead the future of digital finance.
@ Newshounds News™
Source: AMB Crypto
~~~~~~~~~
CONGRESSMAN PROPOSES IRS ELIMINATION
On Jan. 9, 2025, congressman Earl Carter proposed a bill replacing the US tax code with a national consumption tax and abolishing the IRS. Earlier this month, the IRS was sued by Blockchain Association over the new reporting rule.
New tax system
The H.R. 25 bill, or The Fair Tax Act of 2025, was introduced by Rep. Earl “Buddy” Carter (R–GA). The bill challenges the existing U.S. tax code and the taxation policy status quo and aims to promote freedom, fairness, and economic opportunity. The Fair Tax Act calls to repeal the income, payroll, estate, and gift taxes. Instead, the act proposes enacting the sales tax.
According to the bill, the existing Federal income tax retards the economic growth and international competitiveness of the U.S., discourages small businesses and farms, and downgrades the standard of living of Americans, decreasing the savings and investment rates.
On top of that, the bill indicates the harm of the existing unnecessary administrative and compliance cost pressure on individual and corporate taxpayers. Privacy violations and lack of transparency in taxation are other problems associated with the Federal income tax. According to the Fair Tax Act, the Social Security, Medicare payroll taxes, and self-employment taxes hurdles employment rates.
The alternative proposed in the bill is a broad-based national sales tax on goods and services purchased for final consumption. The act proposes to tax all consumption of goods and services in the U.S. once, preventing double, multiple, and cascading taxation.
According to the bill, it will facilitate savings and investment, improve the standard of living of Americans, help businesses, and undo all other evils associated with the actual tax system. Also, the Fair Tax Act provides notes on how the government should foster the change in the policy.
IRS abolition
One of the most radical changes proposed in the Fair Tax Act is the Internal Revenue Service abolition. The move is meant to get rid of the bureaucratic burdens on individual and business taxpayers.
According to Carter, the tax system introduced in the legislation eliminates the need for the IRS. The taxes should be easy and transparent so that people will not need professional assistance to fill out their taxes.
The bill is supported by a number of Republican congressmen, including Barry Loudermilk, Eric Burlison, John Carter, Scott Perry, John Rutherford, Warren Davidson, Andy Biggs, Dale Strong, Rich McCormick, Andy Harris, and Andrew Clyde.
The latter noted that the act “provides a commonsense solution to eliminate the need for the weaponized IRS, simplify our tax code, and foster economic prosperity”.
Rep. Strong adds that the proposed taxation system will make illegal immigrants pay taxes fairly.
IRS vs the crypto community
The IRS was sued over the new reporting rules introduced by the service the day the rules were introduced, i.e., on Dec. 28, 2024. The complaint is signed by several organizations, including Blockchain Association, Texas Blockchain Council, and DeFi Education Fund.
The new reporting rules impose a threat to the well-being of the DeFi sector as it redefines the broker notion. According to the new rules, DeFi platforms will be considered brokers. They will have to provide the transaction info and proceeds to the IRS until 2027.
The complaint clears that DeFi platforms are not brokers, and that’s what makes them unique and innovative. As peer-to-peer systems, they don’t depend on brokers or any other intermediaries, so the IRS’ new rules should not apply to them, but they do.
The plaintiffs find the rules unconstitutional and harmful to American development and leadership in the crypto industry. They note that if the rules get into effect, this may impact many leading industry brands to find better jurisdictions instead of working in America.
Considering this, the IRS abolition may be seen as a possibility to end the service’s attacks on the DeFi ecosystems. However, it is not clear yet if the Fair Tax Act of 2025 will be adopted. The history of the act began back in 1999. Will 2025 be a breakthrough year? We’ll see.
@ Newshounds News™
Source: Crypto News
~~~~~~~~~
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More News, Rumors and Opinions Tuesday PM 1-14-2025
KTFA
Clare: Economist describes the establishment of the first Rafidain Bank as an excellent step
1/14/2025 Baghdad
Economic expert, Mustafa Akram Hantoush, described the establishment of the first Rafidain Bank as an “excellent step.”
Yesterday, Monday, the Council of Ministers decided to establish the First Rafidain Bank with a capital of one trillion dinars and a government participation rate of 24%.
KTFA
Clare: Economist describes the establishment of the first Rafidain Bank as an excellent step
1/14/2025 Baghdad
Economic expert, Mustafa Akram Hantoush, described the establishment of the first Rafidain Bank as an “excellent step.”
Yesterday, Monday, the Council of Ministers decided to establish the First Rafidain Bank with a capital of one trillion dinars and a government participation rate of 24%.
Hantoush told Al-Eqtisad News, "Establishing the First Rafidain Bank is an excellent step, especially since it will be a mixed sector company."
He added that the new bank will help the state enhance its payment and electronic transaction capabilities, in addition to assisting the Trade Bank of Iraq in transfers and credits. LINK
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Clare: Al-Sudani discusses with the British King establishing a "productive partnership" between Baghdad and London
1/14/2025
The Minister Mohammed Shia al-Sudani discussed today, Tuesday, with the King of the United Kingdom, Charles III, establishing a "productive partnership" between Baghdad and London.
A statement by the Prime Minister's Office received by Shafaq News stated that "Al-Sudani met today, Tuesday, with the King of the United Kingdom, Charles III, at Buckingham Palace in the British capital, London. During the meeting, bilateral cooperation between Iraq and the United Kingdom was reviewed, as well as ways to establish a productive partnership in various economic and development fields."
The statement added that "the meeting discussed cooperation in the field of confronting the challenges of climate change, and opportunities to enhance cultural cooperation."
According to the statement, Al-Sudani expressed his "appreciation for the official invitation he received to visit Britain," stressing "Iraq's determination to consolidate constructive bilateral relations in various fields, in a way that enhances the mutual and sustainable interests of the Iraqi and British peoples."
For his part, King Charles III welcomed Al-Sudani, pointing out "the depth of the historical relationship between Iraq and Britain, and the prominent importance that the governments of the two countries attach to developing common interests and understandings at various levels." LINK
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Mnt Goat Article: “ECONOMIST: THE CENTRAL BANK’S POLICY IS MOVING TOWARDS GLOBALIZING IRAQI BANKS” Quote: “Safwan Qusay confirmed that the Central Bank’s policy is moving towards globalizing Iraqi banks, while stressing that it will contribute to raising the status of these banks globally” also “the process of ending dealings with the electronic platform will contribute to accepting local banks that have the ability to provide guarantees and international compliance conditions with international correspondent banks.” Yes, “providing guarantees and international compliance” is all insurance related. Investors in Iraq need to know that their funds in Iraqi banks will be protected... [Post 1 of 2....stay tuned]
Mnt Goat Article quote: “He added that these correspondent banks can carry out the process of changing the Iraqi dinar to any global currency immediately, and for more than a million banks around the world.” What did it just tell us? A million banks around the world? What does this mean to us as investors? We know that...conditions to get back to FOREX that this insurance part is a pillar of the financial reform. Therefore, it is a reform that needed to take place and is now taking place. Also, I want to add that the statement of “changing the Iraqi dinar to any global currency immediately” is an amazing statement...Could this news get any better at this time? Can this be what is holding up the revaluation and the reinstatement? [Post 2 of 2]
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Food And Energy Costs Set To SKYROCKET! AS DOLLAR DIES FASTER.
Greg Mannarino: 1-14-2025
US BANKRUPTCIES SOAR to 14-Year High as Banks Brace For Impact
Taylor Kenny: 1-14-2025
U.S. corporate bankruptcies have soared to a 14-year high, reaching levels not seen since the 2008 financial crisis. This video explores the implications of these bankruptcies, their impact on banks, and the looming threat of a widespread financial crisis. Learn why this isn’t just about struggling companies—it’s a sign of deeper instability in our economy and financial system.
Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 1-14-25
Good Afternoon Dinar Recaps,
BRICS NEWS: ANALYSTS PREDICT THE FUTURE OF BRICS CURRENCY
The BRICS alliance is working on the formation of a new currency to challenge the US dollar’s global prospects. The bloc aims to dethrone the US dollar from the world’s reserve currency and usher into a new financial era.
The bold idea is pushed most by members China, Russia, and Iran, as their economies are hampered by the US. The White House pressed sanctions on Russia and Iran and both countries are seeking an alternative currency.
Good Afternoon Dinar Recaps,
BRICS NEWS: ANALYSTS PREDICT THE FUTURE OF BRICS CURRENCY
The BRICS alliance is working on the formation of a new currency to challenge the US dollar’s global prospects. The bloc aims to dethrone the US dollar from the world’s reserve currency and usher into a new financial era.
The bold idea is pushed most by members China, Russia, and Iran, as their economies are hampered by the US. The White House pressed sanctions on Russia and Iran and both countries are seeking an alternative currency.
On the other hand, China seeks global domination through BRICS and the launch of a new currency will boost its prospects.
On the contrary, India is against the idea as their leaders have openly supported the US dollar. India’s Foreign Minister S. Jaishankar repeatedly said that they need the US dollar and will not sideline it for trade. The statement highlights the stark differences and ideas among the member nations of the nine-country alliance.
Decoding the Future of BRICS Currency, Analysts Share Their Opinions
Two financial analysts decoded the future of the BRICS currency and shared their opinions about its prospects in the global markets. However, both strategists believe that the contrasting ideas among BRICS members will make the currency a disaster in the forex markets.
“In my mind, there are issues between those countries that make up the BRICS community,” says Michael Diaz, Global Managing Partner of Diaz, Reus & Targ, based in Miami.
“I don’t believe that they will settle on a unified currency because they all have national security concerns. They could move to digital Bitcoin, but because of the individualized interests of those countries, I don’t see it as a risk to the US dollar,” he said.
Another analyst, Monteiro de Carvalho, a partner at Monteiro & Weiss Trade said that he does not believe BRICS currency can challenge the US dollar.
“The very cohesion of BRICS ultimately favors a more fragmented international trade profile into competing blocs. Within BRICS, China acts as a globalizing agent, with its initiatives primarily aimed at opening markets for its products and companies. In the global context, this stance contrasts with countries that have adopted more protectionist measures,” he said.
@ Newshounds News™
Source: Watcher Guru
~~~~~~~~~
BLACKROCK LAUNCHES CANADIAN BITCOIN ETF WITH DUAL-CURRENCY TRADING OPTIONS
BlackRock has launched its first Canadian Bitcoin ETF, offering dual-currency trading options amid market fluctuations and outflows in the U.S. Bitcoin ETF sector.
▪️BlackRock has launched its iShares Bitcoin ETF (IBIT) on Cboe Canada, offering both CAD and USD trading options and providing Canadian investors easier access to Bitcoin exposure
▪️The fund invests primarily in the U.S. iShares Bitcoin Trust ETF and allows investors to hold Bitcoin exposure in tax-advantaged accounts through traditional brokerage platforms
▪️Treasury Secretary nominee Scott Bessent plans to divest his BlackRock Bitcoin ETF holdings before Trump’s inauguration to comply with Federal ethics guidelines
▪️The U.S. iShares Bitcoin ETF has accumulated $52.7 billion in assets under management, though it recently experienced a record-high outflow of $333 million on January 2, 2025
▪️Bitcoin spot ETFs saw collective outflows of $313.6 million on Monday, with Bitcoin trading around $95,000 at press time
Helen Hayes, Head of iShares Canada at BlackRock, explained the practical benefits of the new fund. “The iShares Fund provides Canadian investors with a convenient and cost-effective way to gain exposure to Bitcoin and helps remove the operational and custody complexities of holding Bitcoin directly,” she said.
@ Newshounds News™
Read More: Blockonomi
~~~~~~~~~
JPMORGAN PROJECTS $3–$8 BILLION INFLOWS FOR POTENTIAL XRP ETF
▪️JPMorgan predicts that spot-based XRP ETF could see inflows of between $3 billion and $8 billion.
▪️Anticipation for XRP ETF approval is rising as multiple applications await the SEC’s verdicts.
▪️Ripple’s increasing usage and payment role make XRP a strong candidate for an ETF product.
JPMorgan, a leading global financial institution, has estimated that a spot-based XRP ETF may see flows of $3 billion and $8 billion. The financial giant based this approximation on the performance of Bitcoin and Ethereum ETFs that started in the market last year.
Spot ETFs have gained much popularity in the crypto market and represent about 8% of Bitcoin’s total market capitalization, which is now $1.81 trillion. Nonetheless, Ethereum ETFs have comparatively lower penetration at 3%, but the trend is still likely to experience an increase in future inflows.
According to JPMorgan, an XRP ETF is expected to have a similar market impact as Bitcoin ETFs. Similar levels of success are also expected from Solana-based ETFs. This will also stress the growing interest in diversified cryptocurrency ETFs among institutional and retail investors.
Industry players compete for approval
Increasing adoption and use of XRP in payment solutions add more weight to the crypto’s suitability for an ETF. Currently, there are already some applications for the XRP spot ETF being filed by some industry participants including Bitwise and WisdomTree. The competition has been further intensified especially after the emergence of positive results in Bitcoin and Ethereum ETFs.
As previously reported by Cryptopolitan, Ripple President Monica Long stated an XRP ETF may be launched right behind Bitcoin and Ethereum products. Her remarks are in line with the market sentiment that the prospect of an XRP spot ETF being approved has risen considerably.
Nate Geraci, a well-known expert in the ETF market, also noted that an XRP spot ETF could be approved within the year. This would be a great boost to Ripple and would also provide a lot of credence to the XRP token as a key digital currency in the market.
While XRP has been garnering much attention, BlackRock, the world’s largest asset manager, has ruled out plans to apply for more altcoin ETFs at this time. The company continues to concentrate on its Bitcoin ETF, which has made it a leading player in the cryptocurrency investment market.
Ripple’s executives have also been making headlines. Ripple CEO Brad Garlinghouse, the Chief Legal Officer Stuart Alderoty, and the U.S president-elect, Donald Trump, held a meeting that set speculations on possible friendly policies towards XRP. Even without any details about the meeting, the crypto community has considered this a positive sign.
The further expansion of the Ripple ecosystem has also added more wind to XRP’s sails. The RLUSD, a stablecoin issued on the XRP Ledger, is used to enhance the options of settlements on the XRP Ledger. The adoption of the XRP Ledger is expected to grow due to RLUSD improving cross-border transaction efficiency.
XRP price update
At the time of writing, XRP is trading at $2.47, a decrease of 3.28% in 24 hours.
@ Newshounds News™
Read more: Cryptopolitan
~~~~~~~~~
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BRICS vs. the Dollar, Clarifications, Threats, and Global Economic Dynamics
BRICS vs. the Dollar, Clarifications, Threats, and Global Economic Dynamics
Geopolitical Analyst: 1-14-2025
As the global landscape shifts, the BRICS nations are making it clear: their move towards de-dollarization isn’t a hostile act against the US, but a pragmatic response to what they perceive as Washington’s flawed monetary policies.
Russian Deputy Foreign Minister Sergey Ryabkov, acting as Russia’s sherpa in BRICS, stated in a recent interview with TASS that they are prepared to explain this stance to US President-elect Donald Trump.
BRICS vs. the Dollar, Clarifications, Threats, and Global Economic Dynamics
Geopolitical Analyst: 1-14-2025
As the global landscape shifts, the BRICS nations are making it clear: their move towards de-dollarization isn’t a hostile act against the US, but a pragmatic response to what they perceive as Washington’s flawed monetary policies.
Russian Deputy Foreign Minister Sergey Ryabkov, acting as Russia’s sherpa in BRICS, stated in a recent interview with TASS that they are prepared to explain this stance to US President-elect Donald Trump.
Ryabkov emphasized that BRICS is not seeking to dethrone the dollar as the world’s reserve currency. Instead, their actions are a direct consequence of what they consider “irresponsible and fundamentally flawed policy” emanating from Washington.
He went on to highlight that these policies have persisted across multiple administrations, including Trump’s first term, suggesting a systemic issue rather than a personal attack on any particular leader.
This pointed critique comes amidst discussions about BRICS’ increasing efforts in local currency trade and their exploration of alternative financial mechanisms. While these moves are often interpreted in the US as a direct challenge to the dollar’s dominance, Ryabkov frames it as a necessary step taken to mitigate the risks associated with the perceived volatility and unpredictability of US monetary policy.
The message is clear: BRICS nations feel they are being forced to seek alternatives to protect their economies. They are not proactively attacking the dollar; they are reacting to circumstances they feel are largely dictated by Washington’s actions.
This echoes the sentiment expressed by Russian President Vladamir Putin, which Ryabkov summarized as, “They are biting the hand that feeds them.” This quote suggests a frustration within BRICS that the very policies the US pursues are ironically pushing other nations away from the dollar, and ultimately, potentially destabilizing the US’s own influence.
The willingness of BRICS to engage in dialogue with Trump is significant. It suggests a desire to clarify their position, avoid misinterpretations, and potentially find a path towards a more stable and predictable global financial system. It also indicates that they see an opportunity in a new Trump presidency to renegotiate, if not their financial independence, then at least a re-evaluation of US monetary policy.
The conversation is likely to be complex, requiring a frank and honest assessment of global financial realities. For the US, this means acknowledging that its policies have consequences beyond its own borders. For BRICS, it requires a clear and consistent message that outlines their intentions and avoids being portrayed as aggressively anti-dollar.
Ultimately, this situation presents an opportunity for both sides to reassess their approach and work towards a system that benefits all. The alternative is an increasingly fragmented global financial landscape, where the dollar’s long-standing dominance may be slowly eroded not by direct confrontation, but by a quiet retreat to safer, more predictable alternatives.
The message from BRICS is clear: they are not looking to undermine the dollar, but they are certainly looking for alternatives to the policies that they feel are pushing them away. The question remains, will the US listen?
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
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
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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
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.
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
~~~~~~~~~
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."
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.
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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