Good morning Dinar Recaps,

RIPPLE VS. SEC: HOW THE COURT RULING SETS THE STAGE FOR RLUSD STABLECOIN LAUNCH!

Ripple’s Big Plans in “Uptober”!
Despite the rumors of SEC’s reappeal on XRP status, Ripple is poised for exciting developments next month. Monica Long, Ripple’s president, shared insights into the company’s plans, including:

▪️the upcoming RLUSD stablecoin launch

▪️enhancements to the XRP Ledger (XRPL)
▪️focus on global expansion.

Good Evening Dinar Recaps,

BRICS NEWS:

BRICS EXPANDS: 23 COUNTRIES APPLY, 159 NATIONS ADOPT BLOCKCHAIN-BASED PAYMENTS

▪️23 countries have applied to join the BRICS alliance, with 24 more expressing informal interest, totaling 47 nations.

▪️BRICS is promoting de-dollarization, aiming to use local currencies for trade instead of the US dollar, which could impact various US sectors.

According to recent reports, 23 countries have formally submitted their applications to join the BRICS alliance before the 2024 summit, global economic shifts are taking center stage.

Good Afternoon Dinar Recaps,

ETHEREUM IS A ‘DICTATORSHIP,’ CLAIMS CARDANO FOUNDER CHARLES HOSKINSON

Hoskinson says the Ethereum network is more like a “dictatorship” where Vitalik Buterin exerts too much influence over the development of the decentralized network.

Cardano’s Voltaire-era governance overhaul prevents it from becoming a “dictatorship” like Ethereum and sidesteps the “anarchy” of Bitcoin, its founder Charles Hoskinson said.

Speaking to Cointelegraph at Token2049 in Singapore, Hoskinson attacked Ethereum’s governance model, claiming it relies too heavily on its co-founder Vitalik Buterin for direction.

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SEC Chair Gary Gensler grilled over crypto regulation, handling of DEBT Box case in heated congressional hearing

▪️Republican Majority Whip Tom Emmer got into a heated exchange with SEC Chair Gary Gensler during Tuesday’s hearing.

▪️Some lawmakers have criticized the SEC’s approach to regulating crypto over the years and say rules are not clear for the industry. Others say the SEC is doing its job by protecting investors.

U.S. Securities and Exchange Commission Chair Gary Gensler took the heat from both sides of the aisle during a congressional hearing over his handling of regulating the crypto industry.

Good Evening Dinar Recaps,

PRO-CRYPTO SENATE CANDIDATE JOHN DEATON SET TO DEBATE ELIZABETH WARREN IN OCTOBER

▪️John Deaton, a pro-crypto lawyer and Senate candidate, will debate Senator Elizabeth Warren on October 15.

▪️The debate will address key issues, though it remains unclear if cryptocurrency will be a topic of discussion.

▪️Deaton already criticized Sen. Warren for shifting from holding bankers accountable to supporting their interests.

Good Afternoon Dinar Recaps,

BRICS NEWS:

BLOCKCHAIN-BASED BRICS’ INTRA-BANK PAYMENT SYSTEM ABOUT TO BE LAUNCHED

Imagine a world where the financial dominance of the U.S. dollar is challenged not by a single nation, but by a coalition of emerging economies. This is the potential future with the launch of a blockchain-based BRICS payment system — a move that could reshape global trade, financial markets, and even geopolitics.

 But what would this system look like? And what are the broader implications for both BRICS nations and the rest of the world?

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RIPPLE VS SEC: JOHN DEATON BRINGS SEC MISCONDUCT TO LIGHT – XRP NEWS

▪️Pro-crypto attorney John Deaton has slammed the US SEC over the Ripple lawsuit.

▪️Deaton demanded damages for the XRP community and called for mass layoffs.

Pro-crypto attorney John Deaton has shed more light on the recently concluded case between the US Securities and Exchange Commission (SEC) and Ripple Labs Inc. According to the latest development, Deaton has accused SEC lawyers of intentional misconduct.

Good Evening Dinar Recaps,

TURKEY TENDS TO VIEW BRICS AS A POLITICAL TRUMP CARD AGAINST THE WEST — EXPERT

Turkish economist Bartu Soral noted that when looking at "the global distribution of power, it is clear that huge changes have occurred since the early 2000s"

ANKARA, September 23. /TASS/. Turkey's interest in BRICS has economic considerations, but purely political motives are also strong, Bartu Soral, one of the country’s leading economists, said in an interview with TASS.

"The decline of the West's dominance in the international system brings BRICS to a leading position in production and export. In this context, Turkey values its relations with the Turkic countries and with Russia, which is active in the region. There are many points of contact here.

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HONG KONG MONETARY REGULATOR LAUNCHES SECOND PHASE OF CBDC PROJECT

The HKMA has engaged 11 firms for advanced e-HKD+ digital currency trials, so far.

The Hong Kong Monetary Authority (HKMA) has announced the launch of the second phase of its central bank digital currency (CBDC) pilot program, known as e-HKD, according to a Sept. 23 statement.

The second phase will delve into advanced use cases for digital money, emphasizing e-HKD and tokenized deposits for individuals and businesses. The first phase focused on testing CBDC applications in domestic retail payments, offline transactions, and the settlement of tokenized assets.

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Ripple CLO Talks Congress Insights on SEC and XRP

▪️Professor Reiners emphasized the need for Congress to address the regulatory gap in the crypto spot market.

▪️Ripple’s argument against XRP being a security aligns with Reiners’ testimony on investment contracts.

Stuart Alderoty, Ripple’s Chief Legal Officer, has responded to Professor Lee Reiners testifying before Congress, which provided an illuminating viewpoint on the continuing legal dispute between Ripple and the United States Securities and Exchange Commission.

Good Afternoon Dinar Recaps,

IMF STAFF PROPOSE REDI FRAMEWORK TO CATALYZE CBDC ADOPTION

IMF staff members have introduced a high-level four-stage framework emphasizing regulation, education, design and incentives to enhance CBDC adoption.

International Monetary Fund (IMF) staff members have issued a guide for policymakers and banking institutions on ways to increase the uptake of central bank digital currencies (CBDCs) globally.

The IMF issued the “Central Bank Digital Currency Adoption Inclusive Strategies for Intermediaries and Users” paper on Sept. 21.