Good Afternoon Dinar Recaps,

US TREASURY DISCUSSES THE TOKENIZATION OF TREASURIES

During Tuesday’s meeting of the US Treasury’s Borrowing Advisory Committee, the members explored the topic of tokenizing US Treasuries. It discussed the impact of stablecoins on the demand for short term Treasuries, concluding that the effect is marginal.

The presentation covered the use of tokenized Treasuries as a safe haven in the digital asset sector. And finally, it focused on how blockchain and tokenization could improve Treasury market operations, including the benefits, costs and risks.

Good Morning Dinar Recaps,

SOME EU STATES UNHAPPY WITH ECB CONTROLLING DIGITAL EURO LIMITS – REPORT

Politico reported that some European states, including Germany, France, the Netherlands and six other countries, are concerned about the European Central Bank (ECB) having the right to specify holding limits for the digital euro central bank digital currency (CBDC).

A concern is that the ECB could set the wallet limits too high, resulting in deposits flowing out of banks. One diplomat called it a “battle for power” between central banks and politicians. 

Good Evening Dinar Recaps,

STABLECOINS BOOSTING DEMAND FOR US T-BILLS: TREASURY DEPT

The United States Treasury Department is taking an interest in stablecoins and tokenization.
Stablecoins seem to be increasing demand for short-term United States government bonds known as Treasury bills, according to US Department of the Treasury meeting minutes published Oct. 30.

In an Oct. 29 meeting, the US Treasury’s Borrowing Advisory Committee weighed the benefits of stablecoin adoption and Treasury bill tokenization, with one member suggesting the US create a permissioned blockchain for T-bills, the minutes said.

Good Morning Dinar Recaps,

HBAR ADOPTION EXPANDS AS DUBAI LAUNCHES DIGITAL WILL SOLUTION ON HEDERA

▪️Unlike traditional wills that manage physical assets, the DIFC Courts have chosen Hedera for its reliability, security, speed, and trust, ensuring a transparent process.

▪️This initiative underscores Dubai’s strategic approach to establishing a sustainable digital asset infrastructure and regulatory framework.

Good Evening Dinar Recaps,

US TREASURY STRATEGY FOR FINANCIAL INCLUSION MENTIONS DIGITAL ASSETS

The United States Department of the Treasury has released its national strategy for financial inclusion, only including cryptocurrencies as a potential risk for consumers.

In an Oct. 29 notice, the US Treasury said its National Strategy for Financial Inclusion in the United States report resulted from a request from Congress and included recommendations to “advance consumer access to safe financial products and services and strengthen financial security.”

Good Afternoon Dinar Recaps,

JUST IN: BINANCE LAUNCHES FIRST-EVER CRYPTO EXCHANGE SERVICE FOR WEALTH MANAGERS

Binance has launched the a first-of-its-kind crypto solution which will cater to the crypto needs of wealth managers.

▪️Binance has launched 'Binance Wealth' which will cater to wealth managers and further boost crypto adoption.

▪️This initiative will provide easy access for high net-worth individuals seeking digital asset exposure.

▪️The exchange will provide exposure to a wide range of crypto assets beyond Bitcoin and Ethereum.

Good Morning Dinar Recaps,

CARDANO WILL RUN A NATION STATE: HOSKINSON SHARES WHEN AND HOW

In a keynote titled “After Voltaire: The Next Evolution of Cardano,” Charles Hoskinson, the founder of Cardano, unveiled an ambitious roadmap that could see the blockchain ecosystem running a nation-state by 2030. Hoskinson envisions this nation-state as a substantial entity, potentially serving tens of millions of people.

We as an ecosystem have to make a decision. Do we want to be timid and just chase our tales and focus on small concerns or do we want to be bold and change the world? There’s no reason we can’t for the first time in human history. […]

Good Evening Dinar Recaps,

IF TOKENIZED DEPOSITS DON’T PROGRESS, BANK OF ENGLAND LIKELY TO LAUNCH CBDC

During a speech on Saturday, Andrew Bailey the Governor of the Bank of England, discussed the importance of central bank money for both wholesale and retail payments. 

He argued that the role of central bank money is particularly important for wholesale high value payments and the settlement of payment systems. Hence, the Bank wants to enable digital innovation in the wholesale sector.

Good Afternoon Dinar Recaps,

IOTA NEARS MAINNET SMART CONTRACTS RELEASE, PAVING PATH FOR POTENTIAL ATH IN 2024

▪️IOTA is set to launch smart contracts on its Layer 1 network this year, with the transition from testnet to the mainnet expected to be swift.

▪️This would enable the L1 network to anchor decentralized applications and support tokenization, which founder Dominik Schiener says is the network’s key target market.

Good Morning Dinar Recaps,

BIS PROJECT DEMONSTRATES AUTOMATED CROSS-BORDER TRANSACTION COMPLIANCE',.

Project Mandala uses zero-knowledge proofs to complete compliance checks across different jurisdictions.

The Bank for International Settlements (BIS) and its central bank partners have shown through Project Mandala that regulatory compliance can be embedded into cross-border transaction protocols.

Good Afternoon Dinar Recaps,

INDO-PACIFIC NATIONS OUTPACING THE US IN CRYPTO REGULATION, SEC COMMISSIONER SAYS

A U.S. Securities and Exchange Commission (SEC) commissioner has urged the U.S. to adopt a more proactive approach to crypto regulation, pointing to the leadership of Indo-Pacific nations like Japan, Singapore, and Hong Kong. He emphasized that these countries have crafted clear frameworks that foster innovation while protecting investors, in contrast to the U.S., where unclear guidelines leave market participants struggling with uncertainty.

SEC Commissioner Urges US to Learn from Indo-Pacific’s Crypto Leadership

U.S. Securities and Exchange Commission (SEC) Commissioner Mark T. Uyeda compared the U.S. SEC’s regulatory approach to those of other countries, especially in the Indo-Pacific, regarding crypto and fintech, at the AIMA APAC Annual Forum in Hong Kong on Wednesday.

Good Morning Dinar Recaps,

BLOCKCHAIN LIFE 2024 GATHERED THE LEADERS OF THE CRYPTO COMMUNITY FROM 120 COUNTRIES IN DUBAI

Dubai, UAE, October 26th, 2024, Chainwire

The 13th edition of the Blockchain Life Forum, the premier gathering for cryptocurrency leaders worldwide, recently concluded with an astounding attendance of over 12119 participants.

The forum showcased over 200 esteemed speakers, featuring industry pioneers and executives from top companies, including OKX, CoinMarketCap, Bitmain, Bybit, Binance, Animoca Brands, Circle, BingX, ICP, Kraken, TON, Sandbox, Polygon, Litecoin, Sui, BNB Chain, Cardano, DYDX, VeChain, Osmosis, Chiliz, Algorand, Ether Fi, Manta, Mantle, Delysium, and many more.

Good Afternoon Dinar Recaps,

FED RATE CUT TO HAPPEN 2 DAYS AFTER US ELECTION, POSSIBLE MARKET IMPACT?

▪️The US Fed rate cut is imminent in November with 0.25% cut in view

▪️FOMC policy meeting will hold on Nov 7, two days after coming US election

▪️Bitcoin might benefit from this potential market rattling ahead

Beyond Bitcoin trend, one of the most important conversations on Wall Street now is the potential Fed rate cut in November. With the US economic data coming in below expectations, there is a higher level of certainty of a rate cut next month. The timing, however, has created a new conversation on what this might mean for the broader market.