Seeds of Wisdom RV and Economic Updates Thursday Evening 2-20-25

Good Evening Dinar Recaps,

HACKERS DRAIN BANK ACCOUNTS IN NEW GLOBAL ATTACK ON APPLE AND GOOGLE ANDROID DEVICES: REPORT

Hackers are reportedly draining bank accounts and stealing smartphone users’ credentials using a new and highly effective technique.

Cybersecurity researchers say criminals are now sending text messages that appear to be from banks and delivery services – with malicious PDF files attached, reports Samsung Magazine.

The PDFs either contain links that exploit security flaws and install malware or links that send users directly to fake bank websites, enticing people users to enter their login details.

Victims across the US, Germany, and the UK have already suffered financial losses after opening the fraudulent PDFs.

Researchers say people tend to trust PDFs more than links, and the method increases the chances of users falling for the scam.

Although SMS phishing and email-based PDF attacks have existed for years, the tactic of sending malicious PDFs directly via SMS texts is a new twist.

To stay safe, security experts recommend users avoid opening PDFs from unknown senders, verify messages with official sources, keep smartphones updated and use antivirus software to prevent malware infections.

@ Newshounds News™

Source:  DailyHodl

[NOTE:  Scammers and criminals are also sending text messages that appear to be from Exchanges involving your crypto assets warning of withdrawals with a phone number to call.  Do not call that number.  Only contact your exchange at a phone number you trust to report it.  Stay safe.]

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COINBASE REVEALS 6-POINT PLAN TO FIX US CRYPTO REGULATIONS

▪️Coinbase has outlined six key priorities for improving US crypto regulation.

▪️Coinbase argues that the CFTC is better suited than the SEC to regulate cryptocurrencies like Bitcoin and Ethereum.

▪️Coinbase emphasizes the need to protect DeFi and NFTs from over-regulation, while also calling for clear federal and state guidelines.

A day after Binance CEO Richard Teng praised the improving regulatory environment for crypto in the US, Coinbase’s Chief Policy Officer, Faryar Shirzad, stepped in with a bold take – outlining six key priorities to fix the country’s crypto framework.

His timing couldn’t be more interesting. With US President Donald Trump promising to make America the “Crypto Capital,” regulations are shifting fast. About time, right?

So, what exactly does Coinbase think needs to change? And could these proposals finally bring the clarity the industry has been waiting for?

Let’s dive into the six key priorities that could shape the future of crypto in the US.

Why US Crypto Regulations Need Urgent Reform

The US crypto regulatory landscape needs major changes. While the current administration appears supportive of the industry, regulatory efforts won’t have a real impact unless key issues are addressed.

This is where Shirzad’s insights become important. In a recent blog post, he outlined six priority areas, covering everything from defining digital assets to setting clear rules for centralized crypto firms.

Six Key Priorities for Crypto Regulation

Here are the six areas Coinbase believes need immediate attention:

1. Clear Definitions for Digital Assets
The post stresses the need to properly define digital assets. A clear definition would help Congress distinguish between securities, commodities, and other digital tokens, ensuring appropriate oversight.

2. Shifting Oversight Away from the SEC
The post suggests that the Commodity Futures Trading Commission (CFTC) is more qualified than the Securities and Exchange Commission (SEC) to regulate major cryptocurrencies like Bitcoin and Ethereum—aligning with the industry’s stance in ongoing legal battles.

3. A Smarter Approach to Token Classification
Shirzad argues that not every token should automatically be classified as a security. He calls for a clear regulatory framework that allows crypto projects to raise capital without unnecessary restrictions.

4. Stablecoin Regulations for Market Clarity
With stablecoin regulation being a hot topic, Coinbase highlights the need for a clear framework to ensure transparency and stability in this rapidly growing sector.

5. Protecting DeFi and NFTs from Overregulation
The blog post warns that excessive regulation could harm innovation in decentralized finance (DeFi) and non-fungible tokens (NFTs). Shirzad emphasizes the need for a balanced approach to avoid stifling growth in these areas.

6. Federal and State Guidelines for Centralized Exchanges
Finally, Coinbase calls for clear regulations at both federal and state levels to ensure accountability for centralized crypto firms.

Coinbase urges lawmakers to move quickly before the US falls behind in crypto innovation. The exchange believes a well-balanced regulatory framework can protect consumers while allowing the industry to grow.

@ Newshounds News™

Source:  Coinpedia

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'Something Big Is Happening' – Is a Gold Reset Coming? | Peter Grandich

'Something Big Is Happening' – Is a Gold Reset Coming? | Peter Grandich

Kitco News:  2-20-2025

Is the U.S. secretly stockpiling gold while preparing for a Fort Knox audit?

Over 12.5 million ounces of gold have moved from London to the U.S. since November, triggering global supply shortages.

Meanwhile, Elon Musk, Rand Paul, and Ron Paul are demanding a full audit of Fort Knox—an event that hasn’t happened in over 50 years.

Could this be part of a major monetary reset?

And why does the U.S. still value its gold reserves at just $45/oz when market prices exceed $2,900/oz?

Veteran market analyst Peter Grandich shares his insights on this unfolding gold mystery. He explains who’s buying gold, what’s next for the U.S. dollar, and whether gold is about to be revalued.

With China and Russia aggressively increasing their reserves and global de-dollarization accelerating, could we see the return of a gold-backed financial system?

 Then, in a stunning turn of events—just one day after this interview was taped—President Trump announced aboard Air Force One that his administration will conduct an audit of U.S. gold reserves to “make sure it’s there.”

What could this mean for markets, the dollar, and gold’s future price trajectory?

Key Topics:

Why gold is flowing into the U.S.—who’s behind it?

Could the U.S. Treasury be preparing for a gold audit?

What happens if Fort Knox is missing gold?

Could a gold revaluation fix the debt crisis?

How are China and Russia reshaping the global gold market?

Where does gold go next—$3,500, $5,000?

00:00 Introduction: Gold Market

 01:34 US Gold Valuation and Market Dynamics

04:50 Debt and Economic Implications

08:24 Global Gold Transfers and Market Impact

11:57 Potential Fort Knox Audit Outcomes

 17:39 Global Shift Towards Gold-Backed Systems

 26:11 Investment Opportunities in Gold Mining

https://www.youtube.com/watch?v=ePYssvU1yTQ

More News, Rumors and Opinions Thursday PM 2-20-2025

Ariel:  The Odds of a Rate Change Remain High

2-20-2025

Time Is Running Out

No liquidity.
No dollar.
No revenue.
No deposits.
No withdrawals.
No market volume.

What is the next best thing to do if you plan on making it out of this financial constraint on your economy before more sanctions and more economic turmoil ensues? You change the exchange rate. Which I presume they only have days to do. Turkey is waiting on them to make decisions prior to Monday that will determine the fate of everything else contingent upon this oil export.

Majeed:  The government may resort to printing new money to cover the deficit Print new notes with small denom that has strong value

Paul Bruno:  seems to say more work needs to be done and the dinar needs to crash first. I trust him because he’s been the only voice of, not now, with reason

You can not crash your way into a new exchange rate like some unexpected hard drop in value then all of sudden this miraculous exchange rate comes in and saves the day.

A “crash” could occur if confidence in the dinar erodes due to external shocks (e.g., sanctions, oil price drops) or internal mismanagement, but it’s not a prerequisite for a rate change.

Something that is looming overhead due to their procrastination and reluctance because many will be going to prison after this. They know the corruption will come to an end. This is why they are dragging their feet and being forced into compliance.

The CBI could act preemptively to prevent such a crash by adjusting the rate based on current economic data and projections. This is why it is smart of them to do this now to avoid this. You have to know in order for you to have proper confidence in somebody else notion. You all keep riding the fence and two horses at the same time.

A crash would be destabilizing and counterproductive to Iraq’s current goals of stabilizing salaries, managing oil revenue, and avoiding public unrest. Instead, the CBI is more likely to adjust the rate proactively potentially this week or before February ends.

Based on economic necessity, oil export resumption, and fiscal pressures, as outlined in posts by Majeed and other developments we’ve discussed.

The odds of a rate change remain high (70-80% this week, 80-90% before month-end) without requiring a dinar crash.

If anything, the CBI would aim to prevent such a crash by acting decisively now. This is why the media in Iraq is now talking about introducing new currency and urging a rate change. Why? Because they want to avoid the very thing that @snwse21 claim needs to happen prior to the new exchange rate.

Source(s):
https://x.com/Prolotario1/status/1892285199461077449
https://x.com/Prolotario1/status/1892338564073213965

https://dinarchronicles.com/2025/02/20/ariel-prolotario1-the-odds-of-a-rate-change-remain-high/

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

Frank26  Article:  "New US sanctions shake Iraqi banking sector, ban use of payment cards abroad"   Lies! ...Be careful what you read.  Article:   "Al-Nusairi: No sanctions on Iraqi banks, and false reports cause panic" SETTING THE RECORD STRAIGHT ON THE MONETARY REFORM OF IRAQ...You know very well that we're very close and you know very well when you're very close they're going to try to [hide, distract, over the truth]...It's not a coincidence that their government and our government is a mirror image.  It's not a coincidence...

Fnu Lnu   One member of the Singapore Investment Group has been in San Francisco since Sunday. I finally got an opportunity to speak with her for an extended amount of time. She filled me in on some of the details...The Iraqis have proven to be less than attentive students. Learning is going slowly with some of the principles being resistant to the global methods and technical operations. She is getting these reports directly from one of the consulting group members, but would not say which one. Could be Wyman or K2...This may take a little time... Realize, an entire generation has passed so the youth have never known efficiency or the sense of urgency nor have they ever had purchasing power for the worthless currency. It is a sad situation to say the least. Meanwhile, we wait.

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U.S. Gold Reset Incoming? - (Fort Knox Audit Could Change Everything)

Smart Silver Stackers:  2-20-2025

Recent developments suggest the U.S. government could be preparing to revalue its gold reserves, potentially increasing their book value by over $700 billion.

Treasury Secretary Scott Bessent has hinted at 'monetizing the asset side of the balance sheet'—but what does that really mean?

Could this be the first step toward a currency reset?

And why are record amounts of gold bullion flowing into the U.S.?

Join me as we explore the potential impact on gold prices, inflation, and the financial system. Don’t miss this one!

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

Seeds of Wisdom RV and Economic Updates Thursday Afternoon 2-20-25

Good Morning Dinar Recaps,

NEW SEC CYBER UNIT CLOSES CHAPTER ON AGENCY'S CRYPTO ENFORCEMENT EMPHASIS

The SEC's Republican leaders have shifted what had been a crypto-focused enforcement squad into a smaller group with a broader responsibility.

▪A new name for the U.S. Securities and Exchange Commission's former crypto enforcement unit seems to illustrate the changing approach the agency is taking toward the industry.

▪The SEC has removed "crypto" from the name of the group and backed away from the previous digital-assets-heavy focus.

The U.S. Securities and Exchange Commission unit tasked with chasing bad guys in the crypto space will be smaller and called something significantly different, the agency said Thursday, further cementing its trend away from an aggressive enforcement stance against the industry.

In three years, the same internal group has transitioned from the "Cyber Unit" to the "Crypto Assets and Cyber Unit" and now to the "Cyber and Emerging Technologies Unit," seemingly taking some focus off its crypto role.

In 2022, then-Chairman Gary Gensler's SEC announced the enforcement squad was almost doubling to 50 people. The latest announcement says it will include "approximately 30 fraud specialists and attorneys across multiple SEC offices."

"The unit will not only protect investors but will also facilitate capital formation and market efficiency by clearing the way for innovation to grow," Acting Chairman Mark Uyeda said in a statement, which also announced Laura D’Allaird as the head of the overhauled group."It will root out those seeking to misuse innovation to harm investors and diminish confidence in new technologies.”

That language sharply contrasts with the crypto-focused rhetoric from Gensler in 2022, when he said the unit would pursue "those seeking to take advantage of investors in crypto markets."

President Donald Trump elevated Republican Uyeda from his role as commissioner to run the agency on an interim basis while the U.S. Senate considers the nomination of former Commission Paul Atkins for the permanent job. Uyeda isn't sitting on his hands during the wait and has already been remaking the SEC, especially in relaxing its strong past distrust of crypto.

@ Newshounds News™

Source:  CoinDesk

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BRICS CONTINUE TO DISCUSS ALTERNATIVE PAYMENT OPTIONS TO THE US DOLLAR

The BRICS alliance continues to discuss new and alternative payment options to challenge the US dollar on the global stage. Russian Foreign Minister Sergey Lavrov confirmed that the alliance is looking to create a trans-border payment initiative.

The idea is being discussed at the initiative of Brazil, which will host the 17th summit in Rio De Janeiro on July 6-7, 2025. Brazil will chair the upcoming summit to promote reform in global governance.

BRICS vs the US Dollar: Alternative Payments Being Discussed

Suggestions to create a trans-border payment initiative are being floated by Brazil and could discuss the prospects at the upcoming summit in July. BRICS is looking for a payment settlement other than the US dollar and usher into a new global financial infrastructure.

“This is being discussed in BRICS, at the initiative of (Brazilian President Luiz Inacio). The previous summit stated a decision on the necessity of developing a proposal on alternative payment platforms through finance ministries and central banks.

Such proposals have been made, they suggest, in particular, the creation of a so-called trans-border payment initiative, the creation of a reinsurance company, and the BRICS Clear settlement and depositary infrastructure,” said Lavrov.

The summit could face challenges as US President Donald Trump has vowed to protect the dollar from the BRICS onslaught. The alliance needs to carefully navigate threats of tariffs and cuts in aid in the upcoming summit in July. De-dollarization could no longer be easy as Trump has warned developing countries of consequences if they stray away from the US dollar.

BRICS might find it harder to create a new payment system and challenge the US dollar in 2025. Trump is watching the group and could come up with tariffs that might alter the course of the alliance.

@ Newshounds News™

Source:  Watcher Guru

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 Senate vote 51-49.   Kash Patel is Confirmed as Trump's FBI Director.

@ Newshounds News™

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US Gold Audit Cover-up, What are they Hiding?

US Gold Audit Cover-up, What are they Hiding?

ITM Trading:  2-19-2025

American trend forecaster Gerald Celente, publisher of The Trends Journal, is issuing stark warnings about the future of the market and the accessibility of wealth in the United States.

In a recent interview with Daniel Cambone on ITM Trading, Celente didn’t mince words, painting a picture of an economy teetering on the brink of a major correction that will ultimately benefit gold.

One of Celente’s most provocative points revolves around the famous gold reserves held at Fort Knox.

He argues that billionaires wield significant power over access to wealth, while ordinary citizens are often kept in the dark. This sentiment underscores his broader perspective on the growing disparity between the haves and have-nots.

However, it’s Celente’s prediction of a “dot-com bust 2.0” that should truly grab investors’ attention. He believes the current market is dangerously overinflated, particularly in AI-related tech stocks like Nvidia and Meta. He asserts these stocks are significantly overvalued and are primed for a dramatic correction this year.

“There’s going to be dot com bust 2.0 that’s going to bring gold prices way up,” he emphatically states. The reasoning behind this hinges on the historical performance of gold during periods of economic uncertainty and market downturns.

Traditionally, gold acts as a safe-haven asset, benefiting from increased demand as investors flee riskier positions.

Beyond the potential tech bubble burst, Celente also points to other factors contributing to market instability. He highlights the global trend of interest rate cuts, a move often implemented to stimulate economic growth but which can also fuel inflation and asset bubbles.

He also acknowledges the unpredictable nature of international trade and the potential impact of tariffs, particularly under a potential second Trump Administration. This “wildcard” adds another layer of volatility to the already complex economic landscape.

Taken together, Celente presents a compelling case for investors to reconsider their strategies and explore avenues for wealth preservation. His prediction of a looming “dot-com bust 2.0,” coupled with the geopolitical and economic uncertainties he outlines, positions gold as a potential shield against the coming storm.

Celente’s recommendation is clear: now is the time to protect your wealth. He encourages viewers to watch the full interview on ITM Trading to gain a deeper understanding of his arguments and learn more about potential strategies for navigating the turbulent economic waters he foresees.

Whether you agree with his predictions or not, Celente’s insights offer a valuable perspective on the current state of the market and the potential risks and opportunities that lie ahead.

https://youtu.be/bmJjVWNgv50

News, Rumors and Opinions Thursday 2-20-2025

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 Thurs. 20 Feb. 2025

Compiled Thurs. 20 Feb. 2025 12:01 am EST by Judy Byington

Possible Timing:

“On Sun. 16 Feb. the Iraqi budget was ratified and was expected to be published in the Gazette on Mon. 17 Feb, along with Kurdistan resuming oil exports. …Ariel on X

On Thurs. 30 Jan. 2025 the privately owned Fed and IRS (allegedly) officially dropped dead – when the US Treasury withdrew from the Cabal’s Bankrupt Central Banks across the World. President Trump has said he will replace the IRS with the ERS (External Revenue Service) where taxation on goods will replace taxation on The People and their income.

Since Friday 3 Feb. 2025 all Basel 4 Compliant banks have(allegedly)  gone public with the new Gold / Commodity-backed currency International Rates as required by the GESARA Law. This is (allegedly) the Re-evaluation of all the global currencies (meaning the global currency reset).

Tues. 11 Feb. 2025 Official Notification: Leaders in the Global Currency Reset(allegedly)  received signal payments authorized by the Quantum Network

This week the Quantum Financial System was said to be fully operational for completion of that Global Currency Reset.

The use of the FIAT US Dollar will be(allegedly)  used for up to 90 days Feb. / March / April parallel with the new United States Note (USN), they may cut it off of by April 30th or soon thereafter. …Bruce

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Global Currency Reset:

Mon. 10 Feb.: Liquidity was (allegedly) released to the 12 platforms that then funded the 38 platforms beneath them (Tiers 1 and 2). …JR Truth

Tues. 11 Feb. 2024: A military Intel contact said they released everything for the Global Currency Reset at 3pm PDT on Tues. 11 Feb. 2025 to (allegedly) start the shotgun release of liquidity & notifications …Carolyn Bessette Kennedy on Telegram

Wed. 12 Feb. Funding (allegedly) released to Bond Holder accounts. Banks could no longer (allegedly) see or have access to individual bank accounts. Some private groups were(allegedly)  paid out on Wed. 12 Feb, while others will be(allegedly)  paid on Thurs. 13 Feb. …Bruce

On Thurs. 13 Feb. Nesara funds(allegedly)  started going out. Redemption Center leaders went into work at 10am on Thurs. 13 Feb.…Bruce

Fri. 14 Feb. 2025: Tier 1 and Tier 2 have been paid, I was just told.  …Mike Berra

Fri. 14 Feb. 2025: I’ve been told my platform (that has currency and bond holders in it) started today Fri. 14 Feb. and will start payments on Tues. 18 Feb. I expect currency notifications around same time. …JR Truth

On Sun. 16 Feb. 2025 the Iraqi budget with the new Iraqi Dinar Rate was(allegedly)  ratified and expected to be published in the Gazette soon.

Wed. 19 Feb. 2025 Wolverine: “Hi guys. Certain platforms were(allegedly)  paid today. Tier4b (us, the Internet Group) should be soon.”

Tues. 18 Feb. 2025 What We Think We Know …EBS Activated With Trump on Telegram

DOGE just exposed that, until now, the Treasury Department had no traceability for nearly $4.7 trillion in U.S. taxpayer funds. Elon Musk says that a government database shows that five million people over 140 years old still receive Social Security benefits. People thought USAID was bad. Wait, they see what’s been happening at the IRS. Stephen Miller just confirmed that foreign fraud rings have been using fake social security numbers & identities to steal billions of taxpayer benefits through the IRS and Social Security. Miller confirmed DOGE is about to get the records. “Over a 10-year normal budget window, you could be talking about saving over a trillion dollars by clamping down on massive fraud in our tax and entitlement systems, including again those carried out by organized fraud and theft rings.”

Read full post here:  https://dinarchronicles.com/2025/02/20/restored-republic-via-a-gcr-update-as-of-february-20-2025/

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

Frank26   Article: "Exporting the region's oil" on the table of Nechirvan Barzani and the Turkish Foreign Ministry"   FLOW OF OIL FROM TURKEY = A NEW EXCHANGE RATE... OR THERE WOULD BE NO FLOW!  ...You got Turkey that says, 'Ok we're going to send the oil in.'   At 1310?   No I don't think so.

Militia Man  The Development Road Project is not going away.  It's actually just picking up steam and we're seeing evidence of that...

Frank26   [Iraq boots-on-the-ground report]   FIREFLY:CBI...did deny any sanctions by the US Treasury on any Iraqi Banks or cards, saying we don't have no sanctions on any banking.  This is false news.  Iraqi citizens know who's doing this [reporting false news].  FRANK:  I figured that was what was going on.  All these rumors just didn't make any sense.  All these lies are obviously to stop what's about to happen because at the end of anything, the enemy uses desperate tactics in order to defeat goodness...IMO we will see lies and rumors everyday...just to...delay what Sudani is about to give to the citizens.  They want to prevent Sudani's monetary reform.

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140K GOLD?!? What Will Happen if GOLD is REVALUED?

Silver Dragons: 2-19-2025

In this video I talk about the possibility of the gold that the USA holds being revalued. The USA apparently holds around 261.5 Million ounces of gold in their vaults.

This gold is currently valued at about $42 per ounce. What will happen if they change the valuation to $2,900 per oz? Will this cause the price of gold to go up or down?

 I talk about how in 1973 the US changed the price of gold on their book from $35 per oz to $42 per oz and did not have to sell any gold at all to do this it was simply an accounting gimmick.

The price of gold did go up 66% that year. What would happen if the US did a much larger revaluation of gold?

Would this help the USA pay off the national debt? I show how the US would need to revalue their gold to $140,000 in order to completely pay off the National Debt today.

I don't think that would happen but if they do revalue gold to $2,900 per oz I think this will weaken the dollar and cause the price of gold to go much higher.

Here is my video talking about the gold in Fort Knox and my opinion on it as well:

https://www.youtube.com/watch?v=n1dWCd0Ovnk

Seeds of Wisdom RV and Economic Updates Thursday Morning 2-20-25

Good Morning Dinar Recaps,

XRP NEWS: BRAZIL APPROVES WORLD’S FIRST SPOT ETF, LEAVING U.S. BEHIND

▪️Brazil becomes first country to approve spot XRP ETF, surpassing the U.S.

▪️Brazil’s CVM approves Hashdex Nasdaq XRP Index Fund, awaiting B3 stock exchange listing.

▪️Meanwhile, U.S. SEC delays XRP ETF decisions, awaiting Ripple lawsuit resolution.

Brazil has made history by approving the first spot XRP exchange-traded fund (ETF), taking the lead ahead of the U.S. and other major markets. The country’s Securities and Exchange Commission (CVM) has given Hashdex the go-ahead for its XRP ETF. Meanwhile, the ETF is set to debut on the B3 stock exchange, offering investors direct exposure to XRP.

XRP ETF Finally Gets Approval

According to recent reports, Brazil’s CVM has approved the Hashdex Nasdaq XRP Index Fund, making it the first spot XRP ETF to receive official regulatory backing.

However, established on December 10, 2024, the fund is now in its pre-operational phase, awaiting final clearance from the B3 stock exchange before trading can begin. Hashdex, the asset manager behind the fund, has yet to announce the official listing date.

This approval is a big step forward as more people worldwide show interest in crypto ETFs. Meanwhile, investors want safe and regulated ways to invest in digital assets, and Brazil’s quick action puts it ahead of many other countries in meeting this need.

XRP ETF Interest Grows Worldwide

Several major firms, including Bitwise, 21Shares, CoinShares, and Grayscale, have recently filed applications for spot XRP ETFs. However, the U.S. Securities and Exchange Commission (SEC) has yet to approve any of these applications.

Meanwhile, Bloomberg senior ETF analysts James Seyffart and Eric Balchunas both estimate a 65% chance of approval but suggest that the SEC may delay any decision until its lawsuit against Ripple is fully resolved.

XRP Price Recorded 7% Gain

After Brazil approved the XRP ETF, the price of XRP jumped by 7%, reaching around $2.67 in the last 24 hours. This rise made XRP the best-performing asset among the top ten cryptocurrencies, with a 10% gain over the week.

Although recent data from Coinglass shows that XRP saw $8.20 million in future liquidations during this time. Out of this, $2.31 million came from long positions, while $5.69 million came from short positions.

Meanwhile, Key Market indicators like the Relative Strength Index (RSI), Stochastic Oscillator (Stoch), and Moving Average Convergence Divergence (MACD) suggest strong buying momentum, hinting at more possible gains for XRP.

@ Newshounds News™

Source:  Coinpedia

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TRUMP’S RADICAL GOVERNMENT SHAKE-UP TARGETS NASA, IRS, FDIC, AND DHS

President Donald Trump’s administration is executing a sweeping overhaul of the U.S. civil service, with tech billionaire Elon Musk spearheading the Department of Government Efficiency (DOGE). Thousands of federal employees have been dismissed as part of this controversial restructuring.

Trump claims the initiative will save "hundreds of billions," though Musk’s team reports $55 billion in savings so far—less than 1% of the federal budget. Republicans praise the effort to cut what they see as bloated bureaucracy, while Democrats argue it threatens essential government services and middle-class jobs.

NASA faces 1,000 layoffs, while the IRS has identified at least 7,500 employees for termination. The Federal Deposit Insurance Corporation (FDIC) and the Federal Emergency Management Agency (FEMA) have also begun dismissals. Meanwhile, the Department of Homeland Security (DHS) is preparing to fire hundreds of senior employees deemed not aligned with Trump.

Critics question Musk’s authority as his companies, including Neuralink, remain under federal investigation. Lawsuits challenging his role have produced mixed rulings, with a judge recently allowing the campaign to proceed while raising concerns about oversight.

Trump further asserted executive power by ordering greater presidential control over independent agencies. Meanwhile, lawmakers claim transparency is lacking, with oversight requests going unanswered.

Defending Musk, Trump called him a “patriot” but clarified that he would not have decision-making authority over space-related matters. As mass layoffs continue across federal agencies, uncertainty looms over the future of government operations and thousands of public-sector employees.

@ Newshounds News™

Source:  Economic Times

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“Tidbits From TNT” Thursday Morning 2-20-2025

TNT:

Tishwash:  Rafidain Bank enhances the efficiency of its services by expanding the application of the electronic Q System

Rafidain Bank announced the expansion of the application of the electronic Q System to manage and organize customer waiting, to include more than 27 branches in Baghdad and the governorates, with a gradual plan to generalize it to other branches later.

The bank stated in a statement: "This trend reflects the bank's commitment to adopting the latest banking technologies to ensure the provision of more efficient and faster services, as the system provides an advanced mechanism to organize the movement of customers within the branches, reduce waiting periods, and determine the order of customers according to service priority, with an accurate time estimate for completing transactions.

He added: "This development comes within the bank's vision to enhance digital transformation and raise the level of customer satisfaction, by providing innovative solutions that contribute to improving the efficiency of banking operations and providing a smoother and more accurate experience.  link

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Tishwash:  Optimism about opening branches of Rafidain and Rashid Banks in the region: Stimulates the economy and attracts investors - Urgent

Economic expert Kalala Siddiq commented on Thursday (February 20, 2025) on the importance of opening branches of Rafidain and Rashid banks in Sulaymaniyah and the Kurdistan Region in general, and their economic benefits.

In an interview with Baghdad Today, Sadiq said, "This step will contribute to revitalizing the local economy, and opening branches of these government banks is an important step to revitalize the local economy in Sulaymaniyah. These branches will also provide various financial services to residents and companies, which will contribute to stimulating investments and developing businesses."

She added, "The opening of banks will contribute to facilitating financial transactions, and citizens and companies will be able to conduct their financial transactions more easily and conveniently, without the need to travel to other areas. This includes withdrawing salaries, making money transfers, paying bills, and obtaining loans."

She pointed out that it "will contribute to increasing competition, and will lead to the entry of new banks into the market to increase competition between financial institutions, which may improve the quality of services provided and reduce costs."

It will also provide job opportunities, and the opening of these branches will contribute to providing new job opportunities in Sulaymaniyah, which will help reduce unemployment and improve the standard of living.

She added, "Opening banks contributes to attracting investments, and the presence of branches of government banks can contribute to enhancing confidence in the local economy, which may attract more investments to the region."

Earlier on Wednesday, the representative of the Patriotic Union of Kurdistan, Gharib Ahmed, commented on the visit of the Governor of the Central Bank, Ali Al-Alaq, to ​​the city of Sulaymaniyah.

He said in an interview with Baghdad Today, "This visit is an important and excellent step that came based on the desire of the people of Sulaymaniyah and the Kurdistan Region," explaining in his answer to a question about opening branches of Rafidain and Rashid banks, he replied that "if it happens, it is considered an important step to ensure the disbursement of employees' salaries according to what was stipulated in the Federal Court's decision, and also an important step for other financial transactions that the people of the region want."

Ahmed pointed out that "there is a request to open other branches of Rafidain and Rashid banks in the governorates of the Kurdistan Region, and in independent administrations such as the Raparin Faqi Ranya Administration and the Karmian Administration." 

This comes in the context of the Federal Court’s decision to localize the salaries of Kurdistan Region employees at outlets spread across the region or banks open and licensed by the Central Bank of Iraq.

Ahmed added that "this step will contribute to enhancing financial stability in the region and meeting the needs of citizens in the field of financial services. He also stressed the importance of enhancing cooperation between the Central Bank of Iraq and the Kurdistan Regional Government to achieve these goals."

The Governor of the Central Bank, Ali Al-Alaq, is scheduled to visit the city of Sulaymaniyah to open branches of Rafidain and Rashid in the city, in a move aimed at enhancing financial services in the region and meeting the needs of citizens. link

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Tishwash:  Financial expert: Bond offering helps support Iraq's cash deficit

Financial expert and former Director General of the Central Bank of Iraq, Mahmoud Dagher, explained on Wednesday that issuing financial bonds helps support the cash deficit and is a debt on the government.

Dagher told Shafaq News Agency, "The process of issuing financial bonds does not require a financial deficit, as bonds are often issued for the purpose of providing financial tools and encouraging the financial market in the country."

He added that "the bonds offered by the Ministry of Finance help support the deficit, which may be temporary and not permanent," indicating that "the amount of bonds that   the Ministry of Finance will receive is a debt owed to it and to the government."

On February 5, the Federal Ministry of Finance announced the launch of national bonds (first issue) for public subscription, with a total value of two trillion Iraqi dinars, for the period from February 10 to March 10, 2025.

The Ministry of Finance also offered, in the middle of last year, government bonds under the name “Injaz” for public subscription, in the category of 500 thousand dinars, for a period of two years with an annual interest of 6.5 percent paid every six months, and a bond in the category of one million dinars for a period of four years with an annual interest of 8.5 percent paid every six months  link

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Mot:  ..... Remember That Contractor!!!!

**

Mot: I don't understand. Myparents taught me to be honest

Our teacher asked what my favorite animal was, and I said, "Fried chicken." She said I wasn't funny, but she couldn't have been right, because everyone else laughed. My parents told me to always tell the truth. I did. Fried chicken is my favorite animal.

I told my dad what happened, and he said my teacher was probably a member of PETA. He said they love animals very much. I do, too. Especially chicken, pork and beef. Anyway, my teacher sent me to the principal's office. I told him what happened, and he laughed, too. Then he told me not to do it again.

The next day in class my teacher asked me what my favorite live animal was. I told her it was chicken. She asked me why, so I told her it was because you could make them into fried chicken. She sent me back to the principal's office. He laughed, and told me not to do it again.

I don't understand. My parents taught me to be honest, but my teacher doesn't like it when I am. Today, my teacher asked me to tell her what famous person I admired most. I told her, "Colonel Sanders." Guess where I am now...

More News, Rumors and Opinions Wednesday PM 2-19-2025

KTFA:

Clare:  Sistani’s office expects the beginning and end of Ramadan without completing the waiting period

2/19/2025

The office of the highest Shiite authority in Iraq, Ayatollah Ali al-Sistani, predicted today, Wednesday, the beginning of the month of Ramadan for the year 2025.

The office expected that the month of Ramadan would begin on Sunday, the second of March, and end on the 30th of the same month.

According to the calendar published by the office, the month of fasting will not be complete for 29 days. LINK

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Clare:  Kuwait decides to include Iraqis in electronic tourist entry visas

2/19/2025

 The Iraqi Ambassador to Kuwait, Al-Manhal Al-Safi, announced his thanks to Kuwait for the decision to include Iraqi citizens in electronic tourist entry visas starting yesterday, Tuesday.

 Al-Safi said in a statement to reporters on the sidelines of his attendance at the Japanese embassy’s celebration of the National Day: “This step comes as a culmination of the efforts made by the Iraqi embassy in the country in cooperation with the Kuwaiti authorities, and it also came against the backdrop of the success achieved during the Gulf Cup Football Championship {Gulf 26}, noting that this step aims to strengthen bilateral relations between the two brotherly countries.”

Regarding the mechanism for obtaining visas, Al-Safi explained that the same mechanism adopted by the Kuwaiti authorities for the entry of Iraqi tourists with a tourist visa has been adopted, adding, “It can be obtained by entering the Kuwaiti Ministry of Interior website {Kuwait Visa} and filling out all the requirements for the entry visa, including the availability of a hotel reservation, or an address within the State of Kuwait.”

He added, “The validity period of entry with a tourist visa will be one month by land or air.”

On the other hand, the Iraqi ambassador praised the results of the eighth meeting of the Technical Legal Committee, which was held last Sunday in Kuwait in a positive atmosphere, noting that the meeting was held according to the agreed upon mechanism to hold it periodically every two months in the capitals of the two brotherly countries, as the previous meeting was held in Baghdad.

He stressed that the meetings are ongoing and take their time, and that each meeting produces new horizons, noting that pushing these negotiations forward reflects the desire of the two brotherly countries to move forward in drawing the roadmap.   LINK

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

Militia Man  Article:  “Britain: Iraqi government supports private sector, encourages international investment”  Iraq is making headway and the Iraqi-British Council see what Iraq has to offer for international investment and the private sector! The World Bank is in agreement! The signs of Iraq opening to the International Financial System are everywhere Al-Sudani Prime Minister of Iraq turns! It is truly amazing to watch take shape! All investors in the Iraqi dinar should be smiling large! I know I am.

Frank26   [Iraq boots-on-the-ground report]   FIREFLY:
Saleh on television…he says the Iraqi dinar will regain its strength and the exchange rate will return to balance sooner or later.  FRANK:  This is the Finance Minister telling the Iraqi citizens, ‘Hey, the Iraqi dinar will regain its strength’.  So you’re trying to tell us that 1310 is going to be soon removed… 1310 is an imbalanced rate.  What is balanced?  IMO anything at 1 to 1 and above… FIREFLY:  He also said this decision depends on completing the methodology of the financial and banking reforms.  FRANK:  Consider this the final countdown.

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“Wall Street Talk Of Gold Revaluation Is Drawing Attention”

Arcadia Economics:  2-19-2025

First Treasury Secretary Scott Bessent talks about ‘monetizing the assets on the US balance sheet for the people,’ and now Bloomberg is publishing articles about how a gold revaluation is drawing a lot of attention on Wall Street.

Which makes it an exciting time in the gold and silver markets.

And in today’s show we go through the Bloomberg article, some of the latest signs of tightness in the precious metals markets, and all of the latest news. So to find out more, click to watch the video now!

https://www.youtube.com/watch?v=xQVHOn2Aa8U

Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 2-19-25

Good Afternoon Dinar Recaps,

FRANKLIN TEMPLETON LAUNCHES TOKENIZED U.S. TREASURY FUND IN LUXEMBOURG

Franklin Templeton, a leading global asset manager, announced on Wednesday the launch of its tokenized U.S. Treasury fund in Luxembourg, broadening access for institutional investors across Europe.

The First Fully Tokenized U.S. Gov’t Fund

Notably, the Franklin OnChain U.S. Government Money Fund is the first fully tokenized Luxembourg-based fund investing in U.S. government securities, as per the press release. This would mean that Shares in the fund are recorded and transferred on the blockchain using Franklin Templeton’s platform, improving efficiency, transparency, and security.

The fund operates on the Stellar XLM network and is available to institutional investors in eight European countries, including Austria, France, Germany and Italy, following regulatory approval in October. Notably, the U.S. version of the fund, launched in 2021, has gained over $580 million in assets but is only available to U.S. investors, according to rwa.xyz data.

European Investors Gain Access to Efficient Investment Option

This launch gives institutional investors in eight European countries access to a more efficient and transparent investment option. By using blockchain, it modernizes transactions and emphasizes the growing role of tokenization in finance. As real-world asset tokenization rises, it’s clear that traditional finance and crypto are merging.

Tokenized U.S. Treasuries are leading the charge in real-world asset tokenization, growing into a $4 billion market this year. Franklin Templeton was the first major financial institution to launch such a product, making it the third-largest tokenized treasury fund by assets, Hashnote’s USYC and BUIDL, issued by BlackRock and Securitize.

Franklin Templeton Expands Tokenized Treasury Fund to Solana

Recently, Franklin Templeton announced expanding its tokenized treasury fund to Solana. This move followed the registration of the Franklin Solana Trust in Delaware previously. The fund also known as Franklin OnChain U.S. Government Money Fund (FOBXX) was made accessible on eight blockchains, adding Solana to its previous networks, which included Stellar, Aptos, Avalanche, Arbitrum, Polygon, Base, and Ethereum.

@ Newshounds News™

Source:  Coinpedia

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BRICS: RUSSIA EXPLORES MAJOR PARTNERSHIP WITH THE U.S

BRICS member Russia is exploring major partnerships with the U.S. to help its economy stay afloat. The Biden administration pressed sanctions on Russia in February 2022 for invading and waging war against its neighboring country Ukraine.

The White House sent billions to Zelensky through funds, warplanes, and military equipment. Despite receiving billions, Zelensky repeatedly demanded more and gained funds from the U.S. and the European Union (EU).

Russia is now eyeing deals with the Trump administration to save its economy from collapsing. The U.S. and BRICS member Russia discussed possible cooperation on energy projects in the Arctic during a meeting in Saudi Arabia.

Kirill Dmitriev, the head of the state-owned Russian Direct Investment Fund (RDIF) confirmed that both sides negotiated some “specific areas of cooperation” and also discussed other economic policies in broad strokes.

BRICS: Russia & U.S. Look at Energy Projects in the Arctic Region

Dmitriev revealed that BRICS member Russia and the U.S. may initiate joint energy projects in the Arctic region. “It was more a general discussion — maybe joint projects in the Arctic. We specifically discussed the Arctic,” Dmitriev said. The discussions are yet to turn into official policy as both sides are weighing their options.

If the deal goes through with the U.S., BRICS member Russia could get an economic boost that could bolster its GDP. Russia’s economy has been stagnant and Putin was finding alternative options to settle trade. Trump made it clear that he wants the U.S. to dominate the oil and gas sector leaving no room for others.

Dmitriev said that BRICS member Russia is confident that a new energy deal with the U.S. could go through. Russia is “Positive after the Biden administration destroyed all of the communication, and destroyed all of the discussion,” he said. A new chapter in the energy sector could open up if the U.S. and Russia’s Arctic oil deal goes through.

@ Newshounds News™

Source:  Watcher Guru

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@ Newshounds News™
Source:  CoinTelegraph on Telegram

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@ Newshounds News™

Source:  BricsNews on Telegram

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Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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Is The US Govt Scrambling To Buy Gold? | Michael Pento

Is The US Govt Scrambling To Buy Gold? | Michael Pento

Liberty and Finance:  2-18-2025

In this interview, Michael Pento offers a compelling theory about the U.S. gold reserves, suggesting that the official 261 million ounces of gold reported by the Treasury may not truly be there.

He speculates that the U.S. government could be scrambling to buy gold to replace what has been loaned out or never existed, potentially in preparation for an audit.

The price of gold has been defying expectations. Despite headwinds from high interest rates and a strong dollar – factors that typically depress the price of the precious metal – it continues its upward march. Is inflation the only driver? According to market expert Michael Pento, the answer might be more complex, and even a little unsettling.

In a recent interview on Liberty and Finance, Pento floated a provocative theory: the U.S. gold reserves, officially reported by the Treasury at 261 million ounces, may not be what they seem. He suggests that the government could be secretly scrambling to acquire gold, not necessarily for standard economic purposes, but potentially to replenish reserves that have been loaned out or, more dramatically, never existed in the first place.

Pento’s speculation centers around the possibility of an impending audit of the U.S. gold reserves. While the government routinely claims to hold a vast quantity of gold, independent verification is rare. His theory posits that if a rigorous audit were to be undertaken, the U.S. might find itself in a precarious position, forced to scramble for gold to cover a shortfall.

This isn’t just about questioning the numbers; it’s about the implications for the global economy. If Pento’s theory holds water, it could point to a deeper instability within the U.S. financial system than is currently acknowledged. A lack of transparency surrounding gold reserves erodes trust in the government’s financial management and could have far-reaching consequences.

The interview underscores the importance of keeping a close eye on gold and other real assets as barometers of economic health. In an era of unprecedented economic uncertainty, these tangible investments can offer a clearer picture of the underlying realities than traditional financial indicators.

Whether Pento’s theory proves accurate remains to be seen. However, his perspective provides a compelling reason to question the official narrative and demand greater transparency regarding the nation’s gold reserves.

As the price of gold continues to defy conventional wisdom, his words serve as a powerful reminder that the truth is often hidden beneath the surface. The continued rise in gold prices, despite unfavorable market conditions, demands closer scrutiny and could be signaling a silent, strategic maneuver by the powers that be. The message is clear: watch gold, and watch it closely.

https://www.youtube.com/watch?v=m0KOm1KaaH8

News, Rumors and Opinions Wednesday 2-19-2025

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. 19 Feb. 2025

Compiled Wed. 19 Feb. 2025 12:01 am EST by Judy Byington

Tues. 18 Feb. 2025: BOOM! FORT KNOX GOLD SCANDAL ERUPTS: TRUMP & ELON MUSK DEMAND AUDIT – DEEPSTATE PANICS!

$425 BILLION VANISHED? The U.S. government LIED for 50 YEARS, claiming 5,000 TONS of gold at Fort Knox, but NO ONE has seen it since 1974! Trump & Elon Musk are launching a HISTORIC AUDIT—if the gold is GONE, the U.S. dollar COLLAPSES, the economy IMPLODES, and the Deepstate is FINISHED!

TRUMP & MUSK TO AUDIT FORT KNOX – AMERICA’S BIGGEST FINANCIAL COVER-UP ENDS: For 50 years, the American people have been DECEIVED. The government claims nearly 5,000 tons of gold—worth $425 billion—are secured at Fort Knox. Yet, no one has verified it since 1974. No audit. No proof.

But the cover-up ENDS NOW. With Trump back and Musk leading the charge, a full-scale audit is imminent. If the gold is MISSING, decades of corruption will be exposed. The Deepstate’s secrets will be laid bare.

MUSK DEMANDS TRANSPARENCY – THE AUDIT BEGINS: Elon Musk, a disruptor of Big Tech and Wall Street, is now taking on the ULTIMATE FRAUD. He demands a LIVE, independent audit of every ounce. If the gold is there, PROVE IT. If it’s GONE, EXPOSE the THIEVES.

TRUMP LEADS THE CHARGE – DEEP STATE FEARS THE TRUTH: Trump has RETURNED to the White House, and he won’t back down. Unlike past leaders, he refuses to be controlled by the Federal Reserve’s DECEIT. An audit is coming, and if the gold is missing, those responsible will FACE JUSTICE.

WHAT IF THE GOLD IS GONE?

– The U.S. DOLLAR COLLAPSES.
– Wall Street IMPLODES.
– Inflation SKYROCKETS.
– The Federal Reserve is EXPOSED as a FRAUD.
– GOLD prices EXPLODE.

FOR 50 YEARS, THE DEEPSTATE HID THE TRUTH – NOW IT’S GAME OVER! If Fort Knox is EMPTY, America demands JUSTICE. The criminals behind the greatest financial LIE in history must FALL.

NO MORE SECRETS – SHOW THE GOLD OR FACE THE CONSEQUENCES!

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UNDER NESARA LAW:

The IRS and Income Tax will be abolished. There will be a 14% flat rate sales tax, applied only to new, non-essential items. Food and medicine will be tax-free as will the sale of all used items including homes.

Benefits to senior citizens will increase.

The U.S. Treasury will roll out a ‘rainbow currency,’ backed by gold, silver and platinum precious metals. This move will end the U.S. bankruptcy initiated by Franklin Roosevelt in 1933, replacing it with a solid, tangible financial foundation.

A new U.S. Treasury Bank System will be in force designed to align with Constitutional Law. The current Federal Reserve System will be phased out over a year-long transition period, eventually rendering it obsolete.

Financial privacy will be restored.

Enormous sums of money will be released for humanitarian purposes.

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Tues. 18 Feb. 2025 Bruce:

A Redemption Center Leader told Bruce he received an email this morning that said “be prepared to go into the Redemption Center at a moment’s notice.”

An Iraqi contact said that Iraq was told they were to have the official new Dinar Rate in the Gazette tomorrow Wed. 19 Feb.

Another contact said we would have appointments by Thurs. 20 Feb.

Read full post here:  https://dinarchronicles.com/2025/02/19/restored-republic-via-a-gcr-update-as-of-february-19-2025/

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

Frank26  I got a stronger feeling every day that I wake up, that a lot of the decisions of this reform are now being done by a far better leader. 

Mnt Goat  Article:  “THE PRESIDENT OF THE REPUBLIC APPROVES THE AMENDMENT TO THE BUDGET LAW”  Thiswas the main issues from the Kurdistan region in the monthly salary payments they were receiving for their share of the oil revenues...They wanted more in the budget and so now they have it...I want everyone to know that the passing of this bill is NOT the Oil and Gas Law and is NOT going to trigger the RV.

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Gold Price Is Skyrocketing!! Is It Too Late To Buy Now?

George Garmon:  2-19-2025

https://www.youtube.com/watch?v=QNN65xFt0FI

ON A MASSIVE SCALE. CENTRAL BANKS ARE ABOUT TO ENTER A NEW PHASE OF WORLD DEBT EXPANSION.

Greg Mannarino:  2-19-2025

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

Seeds of Wisdom RV and Economic Updates Wednesday Morning 2-19-25

Good Morning Dinar Recaps,

GOLDMAN SACHS RAISES 2025 GOLD PRICE FORECAST TO $3,100 AMID CENTRAL BANK DEMAND

Goldman Sachs has raised its year-end 2025 gold price forecast to $3,100 per ounce from $2,890, driven by sustained central bank demand. The investment bank predicts that higher central bank purchases, now estimated at 50 tonnes per month (up from 41 tonnes), will boost gold prices by 9% by year-end, alongside increased ETF inflows as interest rates decline.

Goldman noted that if monthly purchases reach 70 tonnes, gold could climb to $3,200, while steady Federal Reserve rates could see prices at $3,060. Persistent policy uncertainty, including trade tensions, may push gold to $3,300 due to prolonged speculative buying. Rising U.S. fiscal concerns could further lift prices to $3,250 by December 2025.

The bank reiterated its "Go for Gold" trading strategy, emphasizing gold as a hedge against trade tensions, Fed risks, and recession threats. Inflation fears and U.S. debt sustainability could also drive central banks, especially those holding significant U.S. Treasury reserves, to increase gold acquisitions. Goldman expects these factors to sustain strong gold demand, bolstering its bullish outlook.

@ Newshounds News™

Source:  Economic Times

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NIGERIA MOVES TO TAX CRYPTO TRANSACTIONS AS PART OF ECONOMIC RECOVERY PLAN

Nigeria’s government is advancing plans to incorporate cryptocurrency transactions into its tax framework, with lawmakers reviewing legislation expected to pass in early 2025.

▪️The Nigerian SEC aims to increase licensed exchanges to enhance oversight while taking enforcement actions against unregulated platforms.

▪️Major exchanges including OKX, Binance and KuCoin have faced regulatory challenges, with some suspending services in the Nigerian market.

▪️Recent regulatory updates include a 7.5% VAT on digital assets and stricter marketing rules to protect investors from potential scams.

The Nigerian government is set to revise its cryptocurrency regulations to include digital asset transactions under its tax framework.

The decision comes as part of efforts to generate revenue and stabilize the economy following fuel subsidy removals under President Bola Tinubu’s administration, according to a Bloomberg report.

Nigerian Lawmakers Push for Crypto Taxation

To address economic challenges and ease financial strain on citizens, Nigerian lawmakers are considering imposing taxes on digital asset transactions carried out on regulated exchanges. While banks remain prohibited from facilitating crypto transactions, the government believes that taxing crypto activities could provide an essential revenue stream.

According to Bloomberg, lawmakers are currently reviewing a proposed bill that includes crypto taxation alongside other tax reforms. If approved, the law is expected to pass within the first quarter of 2025.

The latest development follows the country’s previous tax measures on digital assets. In July 2024, Nigeria imposed a 7.5% value-added tax (VAT) on digital asset transactions, prompting compliance from exchanges such as KuCoin, which adjusted its transaction fees accordingly.

SEC Seeks to Expand Licensed Crypto Exchanges

In addition to taxation, the Nigerian Securities and Exchange Commission (SEC) is working on increasing the number of licensed crypto exchanges in the country.

According to Bloomberg, the SEC aims to issue regulatory licenses to crypto firms to enhance oversight, ensure compliance, and facilitate taxable transactions. The regulatory body believes that a structured environment will boost investor confidence and create a more transparent crypto ecosystem.

The SEC granted its first official crypto exchange license to Quidax in August 2024, marking a significant step towards regulatory clarity. Shortly after, the agency began planning enforcement actions against unregulated exchanges in September.

Regulatory Crackdown on Unregistered Crypto Firms

Nigeria’s tightening crypto regulations have already impacted several major players in the industry. In May 2024, OKX suspended Naira withdrawals due to regulatory concerns, which eventually led to the company leaving the market.

Other exchanges like Binance also faced scrutiny from the Nigerian government. Authorities in the African country accused the exchange of manipulating the local currency, through its peer-to-peer (P2P) services. The company also faced other allegations such as money laundering, and facilitating tax evasion.

As a result of these allegations, Binance were forced to halt P2P services for Nigerian users. Shortly after, KuCoin also followed suit, removing the Nigerian naira from its platform.

Further escalating its crackdown, Nigeria’s Economic and Financial Crimes Commission (EFCC) demanded Binance provide user data for individuals who traded on its platform.

Additionally, in December 2024, the Nigerian SEC updated its crypto marketing regulations to curb the influence of social media promoters advertising unregulated crypto products. The move was intended to protect investors from potential scams and misinformation.

@ Newshounds News™

Source:  Coinspeaker

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Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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