Seeds of Wisdom RV and Economic Updates Wednesday Evening 11-13-24

Good Evening Dinar Recaps,

RADIAN USES R3’S CORDA DLT TO SMOOTH REAL ESTATE TITLE TRANSFERS

US mortgage and real estate service firm Radian has integrated R3’s Corda enterprise blockchain with its Titlegenius offering. The workflow system for real estate title transfers uses DLT for document storage and data transfer. Rather than a black box, it provides transparency around the title transfer process and claims to cut closing costs by an average of 25%.

Radian has a market capitalization of more than $5 billion, although mortgage insurance is its primary revenue source rather than title services.

Title transfer services typically check the history of the property to ensure there are no surprises. They are not just verifying that the seller is the true title holder, but that there are no longer mortgage or other liens against the property. They frequently provide title insurance just in case they missed something.

Once that’s done, the final deed of transfer is drafted and the transaction proceeds to closing and settlement. The process can include various parties, such as the buyer, the real estate agents, mortgage providers and lawyers. By creating a transparent workflow using DLT, all parties can get an up-to-date record of the status of the transaction.

“The title transfer process is notoriously slow and complex, and we are excited to collaborate with R3 to make this process simpler and more efficient for our clients,” said Steven Stipetich, Radian’s Senior Vice President of Title. “There are many valuable use cases for DLT in the property space like bulk refinancing – already supported by the titlegenius platform.”

Coadjute also uses Corda for real estate sales
Corda is also used by UK property technology firm Coadjute, which does something similar to Titlegenius.

However, its software provides the glue to share data between different real estate software solutions used by the estate agents of the buyer and seller. Corda was incorporated into Coadjute’s software since its founding in 2018. The startup’s backers include UK banks such as Lloyds, Natwest and Nationwide.

@ Newshounds News™

Source:  Ledger Insights

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XRP DOCUMENTARY REVEALS RIPPLE-SEC INSIDE STORY: WHEN AND WHERE TO WATCH

▪️XRP documentary exposes Ripple's fight with the SEC; streaming starts November 21.

▪️Second screening tour planned, potential Florida showings to be announced soon.

▪️Ripple CEO absent, but documentary promises exclusive insights and expert commentary.

The wait is over!

Ripple’s highly anticipated documentary, Rigged from the Start: Exposing the SEC’s War on Crypto, is about to premiere, bringing fresh insights into the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC).

If you’re eager to understand the full story behind XRP’s legal fight, here’s when and where to catch this revealing film.

Screening Details to Know
The debut of the documentary took place in Scottsdale, Arizona, and was organized by Fruition Productions, a Los Angeles-based film and gaming studio. 

The documentary was initially titled “XRP Unleashed,” but it was later changed to “Rigged from the Start” to make it more relatable to a broader audience who might not be familiar with XRP.

Meanwhile, the new title focuses on the SEC’s controversial actions against XRP and its impact on the crypto space.

Audience Demand Grows
Following its Scottsdale debut, Fruition Productions has taken the documentary to seven cities across the U.S., and demand has been so high that more screenings are planned for December.

For those unable to attend a live screening, don’t worry. The documentary will be available to stream on Fruition Productions’ official website starting November 21. There may also be additional screenings in Florida, with updates expected soon.

Meanwhile, the trailer is available to watch on YouTube.
What to Expect from the Documentary
The “Rigged from the Start” documentary offers an exclusive look at the Ripple-SEC conflict, featuring insights from key crypto figures, legal experts, and industry leaders.

Although Ripple CEO Brad Garlinghouse chose not to participate in the film, the documentary still promises to deliver exclusive content and offers a fresh perspective on the fight against the SEC’s regulatory actions.

@ Newshounds News™

Source:  Coinpedia

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RIGGED FROM THE START, EXPOSING THE SEC'S WAR ON CRYPTO, Trailer  |  Youtube

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Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 11-13-24

Good Afternoon Dinar Recaps,

UK LIKELY TO ISSUE DIGITAL GILTS WITHIN THE NEXT TWO YEARS – REPORT

Yesterday, state-owned French development bank Caisse des Dépôts et Consignations (CDC) issued a €100m ($108m) digital bond settled using the Banque de France’s DL3S DLT platform using its pilot wholesale central bank digital currency (wCBDC).

The transaction formed part of the European Central Bank’s wholesale DLT settlement trials which are due to end this month.

The Banque de France avoids using the term wholesale CBDC, instead referring to it as a tokenized representation of central bank money.

For the CDC issuance, it required synchronizing the issuance of the digitally native note (DNN) on Euroclear’s D-FMI platform with the settlement on the central bank’s DL3S. The DNN was issued in bearer form under French law.

“Choosing (the) Banque de France’s full DLT interoperability solution for settling the cash leg of this issuance stresses the importance of tokenised Central Bank Money for the development of the tokenisation of finance,” said Emmanuelle Assouan, Director General Financial Stability and Operations at Banque de France.

“The operation, performed under CSDR, allowed (the) Banque de France to enrich its connectivity solutions by setting-up a new interoperability link between the 2 DLTs, on top of the HTLC and SWIFT protocols.” 

HTLC refers to a Hashed Timelock Contract which is an escrow-like mechanism in which the money is locked on one DLT, and the asset on the other. If the money is not claimed during the timelock period, the locks can be released.

Euroclear and the central bank worked together on the interoperability solution.

BNP Paribas’ Securities Services was the issuing agent for the transaction, with Crédit Agricole CIB and Natixis CIB as dealers.

Paris Europlace, the French association that supports the Paris financial market, created a working group of banks and asset managers to help in coordination.

ECB trials and France’s DL3S
Meanwhile, the French pilot CBDC solution has been used for some other digital bond issuances. They include a €30 million sovereign bond issued by Slovenia and a small ABN AMRO commercial paper issuance. There were also several other DL3S experiments that involved simulations.

@ Newshounds News™

Source:  Ledger Insights

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SEC APPROVES COINCHECK AS FIRST JAPANESE CRYPTO EXCHANGE ON NASDAQ

Coincheck is set to make history as the first Japanese crypto exchange to list on Nasdaq, following SEC approval.

Coincheck, a cryptocurrency exchange headquartered in Tokyo and a subsidiary of Monex Group, is expected to become the first to debut on the Nasdaq Global Market as early as Dec. 10.

On Nov. 13, the United States Securities and Exchange Commission approved the exchange’s application to list on the Nasdaq.

The move, set to occur through a merger with Thunder Bridge Capital Partners (TBCP), marks the first time a Japanese crypto exchange will be listed on a US stock exchange.

The merger with TBCP, a special acquisition purpose company (SPAC), will enable Coincheck to remain a consolidated subsidiary of Monex Group after the listing. It could also encourage other Japanese exchanges to pursue similar moves.

SEC application approval
The SEC’s approval follows the Japanese crypto exchange’s filing of a Form F-4 registration statement on Nov. 7, which became effective on Nov. 12.

With the SEC green light, TBCP can now proceed to hold a shareholder vote on Dec. 5 to approve and finalize the business combination, a necessary step for the listing to proceed.

If the shareholders vote in favor, the merger with TBCP will close, and Coincheck is set to be officially listed on the Nasdaq as soon as Dec. 10, trading under the ticket CNCK.

Nasdaq listing implications
The planned Nasdaq listing would be a significant development for Japan and the US. If the merger is finalized, it will deepen global market integration, potentially inspiring other Japanese crypto exchanges to pursue listings in international markets.

The listing could attract more international crypto firms to American markets for the US, reinforcing the country’s expected pro-crypto regulatory stance under President-elect Donald Trump’s incoming administration.

SEC influence over crypto
The SEC has shaped crypto in the US through its rigorous oversight of digital assets, exchanges and firms, including issuing multiple Wells notices.

Consensys CEO Joe Lubin, in an interview with Cointelegraph at Devcon 2024 in Thailand, criticized the SEC for restricting innovation in the crypto industry.

Consensys also issued an open letter to the next US president, calling for supportive regulations for crypto and Web3 — a sentiment Lubin echoed at Devcon 2024, where he expressed hope for a smooth transition in SEC leadership.

@ Newshounds News™

Source:  CoinTelegraph

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 Republic |  Youtube

with Mason 

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Seeds of Wisdom RV and Economic Updates Wednesday Morning 11-13-24

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STABLECOIN FIRM TETHER PLOWS PROFITS INTO COMMODITY TRADE FINANCE

On Friday Tether, known as the operator of the largest stablecoin, reported its investment division completed its first trade finance transaction in October. It involved providing finance for 670,000 barrels of Middle Eastern crude oil worth around $45 million.

The credit granted was from Tether Investments, a company with $7 billion in equity funded by the profits of the stablecoin firm. Hence, it does not involve the use of stablecoin reserves. However, the Tether stablecoin was used for the payment.

“With USDT, we’re bringing efficiency and speed to markets that have historically relied on slower, more costly payment structures,” said Paolo Ardoino, CEO of Tether.

“This transaction marks the beginning, as we look to support a broader range of commodities and industries, fostering greater inclusivity and innovation in global finance.”

Tether‘s main stablecoin has a current market capitalization of more than $124 billion.

Tether comes out of the shadows
For years there were doubts about whether the Tether stablecoin was fully backed. The company makes out that these concerns are unwarranted.

 However, the New York Attorney General found that Tether misrepresented the status of the stablecoin reserves during 2018 and 2019 and banned the stablecoin from the state as part of a settlement.

During that time, Tether lent $625 million of its reserves (around a third of the total) to sister company Bitfinex exchange, which would have been insolvent without the funds. With the subsequent Bitcoin rally, Bitfinex managed to recover.

However, since Tether recently became enormously profitable earning $7 billion during the first nine months of 2024, that breach of ethics and trust seems to have been forgotten.

In another positive piece of news for Tether, the co-head of Donald Trump’s transition team is Howard Lutnick, the CEO of Cantor Fitzgerald. And Cantor looks after the $100 billion plus in Treasuries and repos that form part of Tether’s stablecoin reserves, making it an important client.

@ Newshounds News™

Source:  Ledger Insights

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BREAKING: CARDANO FOUNDER TEASES POTENTIAL PARTNERSHIP WITH RIPPLE

Cardano founder Charles Hoskinson hints at a Ripple partnership, praising CEO Brad Garlinghouse amid calls for crypto unity and regulatory clarity.

▪️Hoskinson praises Ripple's Garlinghouse, hinting at a potential Cardano-Ripple partnership amid regulatory calls for industry unity.

▪️Nerayoff criticizes Hoskinson's Ripple remarks, accusing him of political motivations and rewriting past controversies.

▪️Ripple-Cardano potential partnership aims to bolster market positions amid regulatory challenges.

Cardano founder Charles Hoskinson has hinted at a potential collaboration with Ripple, sparking excitement across the crypto community.

In a recent post on X (formerly Twitter), Hoskinson praised Ripple CEO Brad Garlinghouse, calling him a “great CEO” and describing their interaction as “extremely collaborative.” This public exchange has fueled speculation that Cardano and Ripple might explore a strategic partnership.

Will Cardano Founder Partner With Ripple CEO?
Cardano founder Charles Hoskinson’s recent comments align with growing calls for collaboration in the cryptocurrency industry.

In his post, the Ripple CEO Brad Garlinghouse was in agreement with this saying that it was time for the crypto community to ‘unite’ to push for a ‘level playing field’ as well as clear regulation. 

He pointed out that the market should have obvious “rules of the road” to create a level playing field for all crypto assets and companies “A rising tide lifts all boats,” Garlinghouse wrote, positing that a unified crypto industry would be beneficial to the whole system.

This message of unity comes at a time when regulatory pressures and market challenges continue to affect the crypto sector. Ripple, in particular, has been embroiled in a long-standing legal battle with the U.S. Securities and Exchange Commission (SEC), a case that many believe could set an important precedent for the industry.

With Hoskinson’s endorsement and Garlinghouse’s call for collaboration, the potential Ripple-Cardano partnership might aim to strengthen both companies’ positions in the market and support regulatory reform efforts.

Steven Nerayoff Blast Cardano Founder Stance
Cardano founder Charles Hoskinson’s positive remarks about Garlinghouse and Ripple reflect a shift from his previously critical stance on XRP and its community. However, not everyone in the crypto community is enthusiastic about this potential partnership. 

Steven Nerayoff, a figure in the blockchain space, has accused Charles Hoskinson of engaging in “damage control” rather than genuine support for Ripple and the XRP community.

He referenced years of perceived hostility from Hoskinson towards Ripple and questioned the timing of Hoskinson’s recent support.

According to Nerayoff, Hoskinson’s remarks signal a “sudden patriotic pivot” that he claims lacks authenticity, suggesting that Hoskinson is motivated by self-interest rather than a true desire to support the industry. He stated,

“Your hollow ‘apology’ to the XRP Community falls flat,”

“Your sudden patriotic pivot and vague ‘Trump Team’ hints reek of desperation,” Nerayoff stated. He argued that Hoskinson’s recent comments are part of a broader effort to “mislead” the public about his role in the crypto community, particularly around key issues like regulation and industry growth.

Accusations of Undermining and Creating Conflict
Nerayoff did not shy away from confrontation and accused Hoskinson of trying to undermine him and Ripple for the past few years. He accused Hoskinson of creating conflict within the crypto industry and spreading “false narratives” to elevate his own projects.

Nerayoff claimed that Hoskinson’s actions have been divisive, and that he has contributed little to the blockchain space other than “pumping his own bags” and fostering animosity.

“You made great efforts to discredit me…Yet it was you who sought my help to make crypto legal,” Nerayoff said, pointing to his early work such as the development of the token utility model and ICO structure which helped to facilitate Ethereum’s growth. He further called Hoskinson as a person who is “free-riding” and a “false prophet” in the blockchain ecosystem.

Charles Hoskinson Highlights Vision for Unity
Hoskinson responded to Nerayoff’s accusations directly, dismissing them in a follow-up post.

“All right, Steve, you just proved everything everyone says about you is true. Best of luck in life,

Concurrently, just hours after expressing admiration for Garlinghouse, he tweeted, “You know what’s unstoppable? When the entire crypto space comes together and unifies to take the industry to the next level.” He continued, “We won’t stop for a rest until there are a billion blockchain users.”

Moreover, Pro XRP lawyer John Deaton has commended the potential collaboration citing a bright future should this milestone be accomplished.

In addition, Ripple CEO Brad Garlinghouse has recently expressed optimism about Ripple’s future, despite the prolonged legal battle with the SEC. In his post, he acknowledged the challenges that Ripple and the XRP community have faced, describing the journey as “frustrating” but expressing hope for “light at the end of the tunnel.”

@ Newshounds News™

Source:  CoinGape

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🌱IS MY MONEY SAFE? WHAT IS GOING ON WITH THE DOLLAR?  |  Youtube

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Seeds of Wisdom RV and Economic Updates Tuesday Evening 11-12-24

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ITALY LOWERS PROPOSED CRYPTO TAX HIKE TO 28%: REPORT
Italy’s government is considering lowering its proposed tax hike on crypto trades, reducing the planned rate increase from 42% to 28%.

This shift comes as Prime Minister Giorgia Meloni’s coalition appears inclined to amend the tax proposal, which was initially part of October’s budget plan, to support the country’s growing digital asset sector, according to Bloomberg.

Italy’s steep crypto rate increase
Currently, crypto transactions in Italy face a 26% tax, but officials had proposed raising this to 42% to boost public finances.

Crypto industry executives, however, voiced concerns, arguing that such a steep tax rate could harm Italy’s competitiveness, especially as the European Union prepares to roll out comprehensive crypto regulations under the Markets in Crypto-Assets framework later this year.

The League, a junior party in Meloni’s coalition, proposed the 28% limit to balance the need for public revenue with industry growth, according to Bloomberg.

Forza Italia, another coalition partner, suggested eliminating the tax hike entirely for gains under €2,000 to encourage local participation in cryptocurrency without imposing heavy taxes. Both amendments aim to create a more favorable environment for Italian crypto investors.

This adjustment could strengthen Italy’s crypto market as other countries experiment with their own tax policies.

@ Newshounds News™

Source:  Crypto News

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XRP NEWS: LEGAL EXPERT SAYS RIPPLE LAWSUIT CAN STILL BE WITHDRAWN OR SETTLED

The long-running legal case between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) could finally come to a close soon, especially with the recent election of President Donald Trump, whose pro-crypto stance could lead to a more favorable regulatory environment for digital assets.

If Trump appoints a new SEC leader who is more open to cryptocurrencies, it could accelerate the resolution of Ripple’s legal issues, potentially settling the case for the $125 million fine that was initially offered. This shift in leadership could also help clarify regulatory guidelines for digital assets, which would likely boost market confidence and institutional interest in Ripple’s technology.

Ripple’s legal victory, which ruled that XRP is not a security, was an important milestone for the company, although the SEC’s appeal is ongoing. Amid the confusions of the latest appeal, a user took to social media and asked, “Can the lawsuit still be settled or withdrawn after it has been put in front of the appeals court?”

Legal expert and attorney Fred Rispoli reacted and answered the above-mentioned question.

He wrote,

“Yes. Withdrawn or settled at any time. Withdrawn is unrealistic though. Likely to be settled.”`

What’s Next For XRP?
Currently, XRP is priced at around 60 cents, showing steady growth, with key support levels at 56 cents and 54 cents. The altcoin is up 19 percent this week, thanks to Trump again. Bitcoin has captured the $88k mark and is now heading towards the $90k level.

If Ripple’s case is resolved positively, XRP’s price could see a significant increase as clarity on regulations would attract more investors and institutions. CEO Brad Garlinghouse remains hopeful that a clearer regulatory framework will benefit Ripple and increase the adoption of XRP in global banking.

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Source:  Coinpedia

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🌱 COMMUNISM? TITLE 28 RULE 1 THE 45 COMMUNIST GOALS AS READ INTO THE CONGRESSIONAL RECORD 1963  |  Youtube

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Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 11-12-24

Good Afternoon Dinar Recaps,

AFME PROPOSES MICA-LIKE REGULATIONS FOR TOKENIZATION TO ADDRESS CSDR ISSUES WITH DLT

Last week the Association for Financial Markets in Europe (AFME) outlined its European vision and policy recommendations for DLT and tokenization. 

This is in response to a call for submissions by the EU’s capital markets Directorate, FISMA.

The paper makes recommendations that address some key issues holding up the development of tokenization in the European Union.

One of the critical suggestions relates to CSDR, the regulations that govern central securities depositories (CSDs). Today CSDs perform critical functions including securities issuance, acting as record keepers and providing settlement infrastructures.

However, a DLT can provide the record keeping function. Smart contracts can perform functions such as paying interest or dividends. Plus, DLT supports delivery versus payment, which can eliminate settlement risks without the need for a centralized counterparty (CCP).

CSDR is incompatible with DLT, tokenization?
Countries such as Germany, Luxembourg and Italy have passed DLT friendly laws. 

We frequently report on issuances under Germany’s electronic securities law, eWpG, where securities issued via a decentralized registry don’t require the use of a CSD. Instead, a registrar ensures the DLT is keeping tabs and other related tasks. It’s significantly less arduous to become a registrar versus a CSD. That’s because the registrar only performs one aspect of a CSD’s role under CSDR.

However, you won’t see any eWpG securities publicly traded. Why? Because the CSDR regulation requires publicly traded securities to be registered with a CSD. So while you can issue securities under eWpG, they can only be traded over the counter (OTC).

This is why the digital asset-savvy Boerse Stuttgart, Germany’s second largest stock exchange, is setting up a digital securities exchange, BX Digital, in Switzerland rather than Germany. AFME makes precisely this argument – that the EU will lose its current advantage in tokenization to other jurisdictions if it doesn’t evolve quickly.

A related point is that the CSDR treats CSDs as a monolith. By contrast, IOSCO-CPMI Principles for Financial Market Infrastructure (PFMI) outline separate functions: these include a CSD (issuance and maintenance), securities settlement system (SSS), and notary functions.

 Hence, AFME argues that because roles are separated with DLT, the CSDR as it stands cannot work for tokenization. It believes there’s a need for a new regulatory regime, much like MiCAR for crypto-assets.
However, these two changes are amongst the medium term strategies, because even if regulators start now, a new legal regime isn’t likely to come into force before 2029.

DLT Pilot Regime suggestions
AFME also made shorter term recommendations regarding the DLT Pilot Regime, many of which it has previously outlined. 

The Pilot Regime came into force in March 2023, relaxing certain requirements, but only one entity has been approved so far. Under the Regime, it’s possible to operate a combined trading and settlement system. Plus, an exchange can deal directly with retail clients rather than requiring brokers as intermediaries.

Currently the DLT Pilot Regime supports three types of authorizations – as a multilateral trading facility (DLT MTF), as a settlement system (DLT SS) or both (DLT TSS). However, any entity that wants to provide a settlement system has to be a CSD. Hence, it’s no surprise the only authorized entity so far is Prague CSD approved last month.

AFME argues that requiring registration as a CSD is too onerous. Many banks would be interested in providing a DLT SS but not becoming a CSD. The authors also note that the UK’s Digital Securities Sandbox doesn’t have this requirement. Again, AFME is concerned that the EU could lose out to a competing jurisdiction.

The DLT Pilot Regime has quite low caps on activities, which make it unattractive for larger entities. Hence, AFME requests higher caps. It also wants securities issued under the Regime to be eligible as central bank collateral.

The big picture vision
The report starts off by building a vision of a tokenized future and identifies several key benefits.

There’s considerable soul searching in Europe about how to keep innovation within the EU, rather than startups emigrating to the United States.

 A key part of that is funding, and AFME argues that by using DLT to create a capital markets union it will make it easier for startups to raise capital locally. That’s one of several potential upsides.

The AFME paper is an evolution of previous policy recommendations it outlined earlier this year.

@ Newshounds News™

Source:  Ledger Insights

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CANARY CAPITAL APPLIES TO LAUNCH SPOT HBAR EXCHANGE-TRADED PRODUCT

The asset manager has filed with the SEC to list and trade shares of spot Hedera, Solana, and XRP exchange-traded products.

Investment firm Canary Capital filed with the United States Securities and Exchange Commission (SEC) to list and trade shares of its spot Hedera exchange-traded fund, or ETF.

In a Nov. 12 filing, Canary submitted a Form S-1 registration statement to SEC officials for review, proposing the commission allow US investors to trade shares of its Canary Hedera ETF trust on an unnamed exchange.

]The proposed investment vehicle was one of the first to offer investors exposure to a spot HBAR exchange-traded product, though the asset manager has also applied to list and trade spot XRP and Solana ETFs.

According to the filing, the investment vehicle will not use HBAR-linked derivatives or futures contracts that could put the asset manager within the purview of the US Commodity Futures Trading Commission. Canary did not name an exchange for a listing nor a custodian or ticker symbol.

HBAR, the native crypto asset of the Hedera network, had a market capitalization of more than $2.5 billion at the time of publication, trading at a price of roughly $0.07. Canary launched the HBAR Trust on Oct. 1 as a private offering to qualified investors.

SEC soon under new leadership?
It’s unclear whether the commission will approve listing and trading of spot ETFs tied to other crypto assets on US exchanges following the approval of Bitcoin and Ether ETFs in January and May, respectively.

Following a Nov. 5 election in the US, Republicans will have control of the legislative and executive branches of government starting in January, with President-elect Donald Trump pledging to fire SEC Chair Gary Gensler.

However, despite the criticism by many in the industry over his seeming “regulation by enforcement” approach to crypto, Gensler also voted for approving spot BTC ETFs. The SEC’s Trading and Markets Division signed off on spot Ether ETFs.

@ Newshounds News™

Source:  CoinTelegraph

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Seeds of Wisdom RV and Economic Updates Tuesday Morning 11-12-24

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PETER SCHIFF SLAMS DONALD TRUMP’S STRATEGIC BITCOIN RESERVE PROPOSAL

With the incoming Donald Trump administratation, crypto might play a key role, but Peter Schiff thinks Bitcoin Reserve proposal is a bad idea

▪️  Peter Schiff has watered down the hyped Bitcoin reserve proposal

▪️  He believes the move might crash the US Dollar in the long term

▪️  Many differ from Schiff with Bhutan also keeping a BTC Reserve

Peter Schiff, the core BTC critic has slammed the strategic BTC Reserve proposal that might come into effect with the re-election of former President Donald Trump. While many industry leaders and some lawmakers are celebrating this proposal, Peter Schiff has detailed why this move, if achieved, can destroy the United States.

Peter Schiff and the Deadly Bitcoin Reserve Cycle
As an economist, Schiff has always decried the massive focus on BTC as an investment asset. While the industry has continued to move forward despite his warnings, the banter has not ceased. Peter Schiff said if the US Government establishes a Bitcoin reserve and acquires 1 million BTC, it might buy more.

Based on his analysis, this initial purchase will push the price of the coin to a new high, turning many early buyers into millionaires and billionaires. 

This push mights see these investors sell their coins to cash out the profits accrued over the years. As the Bitcoin critic noted, this will make the BTC holding of the US government fall drastically.

To save face, the government might print dollars to buy more BTC to keep the price afloat. As Schiff noted, this is unsustainable as Bitcoin in this instance cannot stand as a proper hedge for the dollar. His believes this reality might greatly devalue the US Dollar. However, he noted that Bitcoin price will also tank in the long term.

The plans for a Bitcoin reserve has gained traction in Congress with Senator Cynthia Lummis publishing a Bill in that regard. President-elect Donald Trump has reiterated his plans for Bitcoin with many having high hopes on what comes next.

The Other Side of the Coin
While Peter Schiff has a negative view about a BTC reserve, other industry leaders have a different view. Advocates of the move believes the premier cryptocurrency have the right technology to tag as a store of value.

The growing demand for the coin, sparked in part by MicroStrategy’s bullish accumulation, has helped fuel its steady growth over time. Peter Schiff is an advocate of Gold, as he believes the precious metal is substantial and has stood the test of time. Even if Donald Trump establishes the reserve as promised, he said it can never be as high as proponents like RFK Jr projects.

However, countries like Bhutan has seen its Bitcoin reserve soar above $1 billion per the soaring price of the coin. As of writing, the price of Bitcoin has scored a new All-Time High (ATH) above $85,495.18, up 5.73% in 24 hours.

@ Newshounds News™

Source:  CoinGape

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EU MANDATES DIGITAL PRODUCT PASSPORT BY 2027—VECHAIN TOOLCHAIN LEADS THE CHARGE IN SUPPLY CHAIN TRANSPARENCY

▪️VeTonsberg, VeChain’s partner in London, is preparing companies for future compliance, using blockchain solutions to enable end-to-end traceability.

▪️The DPP initiative aligns with global trends toward stricter traceability, as seen in U.S. regulations.

The European Union (EU) is moving towards enhanced sustainability and transparency requirements for products sold within its markets. Here, VeChain’s technology will play a significant role. 

The recently introduced Digital Product Passport (DPP) aims to strengthen traceability across sectors including electronics, textiles, and automotive, reported CNF.

EU’s Digital Product Passport (DPP) Initiative Promotes Sustainability and Transparency
VeTonsberg, a London-based partner of VeChain Technology Group, has announced its readiness to support companies in meeting these compliance standards with blockchain solutions.

However, currently, the implementation of DDP isn’t mandatory but industry participants expect it to be obligatory by 2027.

The DPP is set to provide detailed, accessible information about each product. It will include the product’s origins, environmental impact, and disposal guidance. This aligns with surging global demands for product transparency owing to heightened consumer awareness and investor expectations for sustainability.

“Supply chain transparency is no longer optional,” stated VeTonsberg on X. They emphasized that “the EU Council Digital Product Passport (DPP) is setting the stage for global traceability and sustainability.”

For further context, the concept of a DPP operates similarly to a traditional passport but for products. It serves as a digital record that documents critical lifecycle details, i.e., from materials and origin to environmental impact and disposal instructions.

According to EU regulations, each product will be equipped with a unique QR code or NFC tag to allow easy data access. This centralized digital platform ensures stakeholders can verify product authenticity, origins, and compliance at every stage.

DPP requirements are a component of the EU’s Ecodesign for Sustainable Products Regulation (ESPR), which aims to address the environmental footprint of consumer goods.

With preliminary implementation in 2024, the ESPR mandates DPPs for products with significant environmental impact potential.

VeChain and VeTonsberg Ready to Support Compliance in Emerging Product Traceability Requirements
Moreover, the EU aims to make DPPs compulsory for high-impact goods as transparency in product lifecycles is key to advancing sustainability. As an industry partner, VeTonsberg is set to play a significant role in facilitating these compliance standards.

The company, established in 2022, offers blockchain, NFC, and RFID solutions specifically designed to align with VeChain’s Toolchain platform. This suite of tools allows end-to-end product traceability, data reporting, and integration into existing systems.

According to VeTonsberg, “We can help you implement VeChain Toolchain to meet these requirements by offering end-to-end traceability, monitoring and data reporting for compliance, and integration with existing systems for seamless data flow.”

The DPP initiative follows a similar global trend. VeChain partner VeTonsberg highlighted that other countries are tightening regulations on traceability.

They also cited the U.S. Food and Drug Administration’s Food Safety Modernization Act and Drug Supply Chain Security Act as examples of recent transparency measures in food and pharmaceuticals, reported CNF.

VeTonsberg’s offerings align with these regulatory shifts by helping industries adapt to new compliance demands. The company has also underscored the urgency for businesses to prepare. In the post, they noted, “The deadline is fast approaching… Ensure your supply chain is compliant by starting today.” Meanwhile, it’s worth noting that VeChain has launched the My Story DDP tool with DNV for a similar cause.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

🌱WILDFIRES HAVE CAUSED SIGNIFICANT DESTRUCTION IN BOTH CALIFORNIA AND THE NEW YORK-NEW JERSEY REGION  |  Youtube

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Seeds of Wisdom RV and Economic Updates Monday Morning 11-11-24

Good Morning Dinar Recaps,

BRICS DIGITAL ASSET PLATFORM PROPOSAL POISED TO RESHAPE GLOBAL INVESTMENT

A proposed BRICS digital asset platform could ignite unprecedented investment in South Asia, Africa, and Latin America, driving growth in emerging markets.

Digital Assets at the Core of BRICS’ Ambitious New Investment Platform
Russian President Vladimir Putin discussed the proposed creation of a BRICS investment platform to support developing markets at the Valdai Discussion Club’s plenary session in Sochi on Friday. He was quoted by Tass as saying:

We suggest creating a new investment platform of [BRICS countries], using electronic assets, developing them.

“The point is to create such a platform of electronic payments, with the use of which it will be possible to invest in developing markets, and these are primary markets of South Asia, Africa, and Latin America in part,” the Russian leader added. The proposed system would facilitate investments from BRICS nations into high-growth areas by utilizing a digital framework, enabling streamlined investment in these regions.

The BRICS economic bloc expanded on Jan. 1 to include Egypt, Ethiopia, Iran, and the United Arab Emirates (UAE), joining Brazil, Russia, India, China, and South Africa. This expansion aimed to boost the group’s global economic and political influence. At a recent summit in Russia, BRICS also extended partnership invitations to 13 additional countries, further widening its international presence.

Putin highlighted that the regions targeted by this initiative exhibit strong demographic and economic potential, factors that make them attractive for BRICS investment. He opined:

We think so because very strong demographic processes are taking place there: population growth, capital accumulation, the urbanization level is in sufficient there and it will definitely grow.

At the 16th BRICS Summit, held from Oct. 22-24 in Kazan, Russia, members discussed expanding the bloc’s global influence, including developing alternatives to Western-dominated payment systems to boost financial independence. 

Putin has also clarified Russia’s stance on the U.S. dollar, stating that while Russia faces restrictions on its use, it does not intend to abandon the currency. He criticized U.S. policies that limit dollar use, arguing they undermine American financial authority, though he affirmed the dollar’s importance to Russia’s economy.

@ Newshounds News™

Source:  Bitcoin News

~~~~~~~~~

RIPPLE V. SEC LAWSUIT: RUMORS SUGGEST NEXT POTENTIAL CHAIRMAN OF THE REGULATOR WILL BE PRO-CRYPTO

Firing Gensler seems like one of Trump’s most important crypto-related promises.

▪️Trump’s pledge to replace SEC Chair Gensler with a pro-crypto leader has sparked excitement across the community.

▪️Legal experts believe such changes could lead to a faster resolution of the Ripple v. SEC case.

Gensler’s Possible Successor
Donald Trump’s victory in the US presidential elections triggered a massive bull run for the cryptocurrency sector due to his shift from a previously skeptical view to a supportive stance on the asset class. During his campaign, the Republican pledged to make America “the crypto capital of the planet” and proposed creating a strategic BTC reserve.

He also expressed the intention to fire the SEC’s Chairman Gary Gensler on day 1, a promise which triggered huge enthusiasm among the XRP Army. To the uninitiated ones, the Commission and its head have been at war with numerous crypto companies, including Ripple.

Crypto X has been speculating whether the newly-elected president will stick to his promise and wondering who might replace Gensler at the helm of the securities regulator. 

Eleanor Terrett (a popular journalist at Fox Business) recently claimed she discussed the matter with “a person close to the Trump transition team,” who assured her that the successor “will be someone pro-crypto.”

NEW: I asked a person close to the Trump transition team about some of the names being floated for @SECGov chair and whether views on #crypto would factor into the decision.

The response: “I promise you it will be someone pro-crypto.”

— Eleanor Terrett (@EleanorTerrett) November 8, 2024

A new SEC Chairman who is more open to innovation and less inclined to hamper the crypto industry’s advancement by constant legal battles is considered good news not only for those invested in XRP but the entire digital asset market.

The Potential Effect on the Case
Last week, Fred Rispoli (a US attorney who has been following the updates surrounding the Ripple v. SEC lawsuit) argued that the election of Trump could lead to “extreme changes” at the watchdog.

He claimed that the $125 million penalty, which Federal Judge Torres ordered Ripple to pay for violating certain securities laws, is the biggest win the agency can gain. Rispoli also thinks that the SEC’s new potential leadership will “recognize this whole case was idiotic and settle at that point.”

“This might include a reduction in the fine and an agreement that current sales of XRP by Ripple are sufficiently structured to not be investment contracts,“ he added.

The American lawyer Jeremy Hogan chipped in, too. He went even further, forecasting that the new leader of the SEC may dismiss all non-fraud crypto lawsuits filed over the years. Similar to Rispoli, Hogan believes the case could be officially settled for the amount of $125 million:

“It would be…awkward to settle for less than what was already awarded by a Court! The Coinbase and other cases in litigation will simply be dismissed. This will take some time. Not January, but perhaps before summer. That’s my call, and I’m sticking to it.”

@ Newshounds News™

Source:  Crypto Potato

~~~~~~~~~

🌱GIPPER'S NEWS READER NEW PRESIDENTIAL PLAN FOR 2025 - ARMED FORCES OF AMERICA  |  Youtube

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Seeds of Wisdom RV and Economic Updates Sunday Afternoon 11-10-24

Good Afternoon Dinar Recaps,

‘WE WON THAT CASE LAST SUMMER’: RIPPLE CEO OPENS UP ABOUT TRUMP, GENSLER AND XRP LAWSUIT

In recent days, Ripple’s XRP has been making headlines. However, its progress is being hindered by an ongoing legal battle with the U.S. Securities and Exchange Commission (SEC).

CEO Brad Garlinghouse discussed Donald Trump’s support for cryptocurrency, where Trump has positioned himself as a “crypto advocate” during his campaign. Trump has even stated that one of his first actions if elected president would be to remove Gary Gensler, the SEC chairman, who has taken a tough stance against crypto.

Global Crypto Regulations vs. U.S. Approach
In an interview with BBC, Brad points out that many countries like the UK, Switzerland, and Singapore have embraced crypto by creating clear regulatory frameworks.

This has allowed the crypto industry to grow, attracting entrepreneurs and capital. In contrast, the U.S. government, particularly under the Biden administration, has been more hostile toward crypto, creating challenges for the industry..

What a Win Would Mean for Crypto?
Brad talked about the ongoing legal battle between Ripple and the U.S. SEC. Ripple has been fighting the SEC over whether XRP should be classified as a security. Last summer, a judge ruled that XRP is not a security, but the SEC is appealing the decision, though they are not challenging the ruling on XRP itself.

Brad stressed the need for clearer regulations in the U.S. While Bitcoin and XRP have some regulatory clarity, many other cryptocurrencies, like Ethereum and Solana, remain in a “gray area.” 

This lack of clarity makes it difficult for the industry to move forward. Brad advocates for clear, well-defined regulations—similar to those in the UK or Japan—so that the crypto industry can follow the rules without fear of uncertainty.

SEC’s Role in Crypto Regulation
He criticized the SEC under Gary Gensler for trying to regulate crypto through enforcement actions rather than creating formal, clear rules. He argues that cryptocurrencies, unlike traditional securities, do not provide ownership rights or governance rights, so they should not be classified as securities.

@ Newshounds News™

Source:  CoinPedia

~~~~~~~~~

CHARLES HOSKINSON BREAKS SILENCE WITH FOUNDATIONAL MODEL OF CARDANO BLOCKCHAIN

Cardano founder Charles Hoskinson recently returned to social media with a compelling message that outlines his vision for Cardano and its potential. In his first major tweet since a brief hiatus, Hoskinson described Cardano as "a decentralized ecosystem of blockchain technology, smart contracts, and community governance committed to improving economic, political, and social systems for everyone, everywhere."

Hoskinson went on to outline Cardano's role as a foundational infrastructure designed to empower individuals and communities to "manage their identity, value, and governance," and foster the emergence of decentralized applications, businesses and network states.

This marks one of Hoskinson's first posts on X since Nov. 3, when he announced that he would be taking a week-long social media break to celebrate his birthday and enjoy time "off-grid." His return brings a renewed sense of purpose and focus on Cardano’s mission, reflected in his first tweets.

The Cardano community has reacted positively to Hoskinson’s statement, seeing it as a reaffirmation of the project's goals and values. What happened? Hoskinson previously lamented growing criticisms toward him and the Cardano ecosystem.

Amid this and with one user implying that Hoskinson might be Cardano's cancer, the founder decided to poll the community.

In the survey, Hoskinson asked if he was a "cancer" for Cardano. The poll received 50,501 votes at press time, with 51.6% agreeing that Hoskinson was Cardano's "cancer" and 48.4% saying the Cardano founder was not to blame for the ecosystem's challenges.

Apparently dismayed by the results of the poll, Hoskinson decided to take a break from X throughout the week, stating he wanted to disconnect and meditate. In a Nov. 3 post, Hoskinson made known his decision saying "It's going to be a lot of fun disconnecting and meditating.

On the other side, I'm going to have a different approach to social media and how I communicate to the Cardano ecosystem. I suspect I'll use X a lot less and will emphasize more productive and curated mediums. I will miss the daily interactions and spontaneity of things, but it's honestly become too toxic."

@ Newshounds News™

Source:  U Today

~~~~~~~~~

🌱 WHAT IS THE IRON TO GOLDEN AGE?  |  Youtube

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Seeds of Wisdom RV and Economic Updates Sunday Morning 11-10-24

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NORWAY SUPPORTS MICA, CONSIDERS CBDC FOR FINANCIAL STABILITY

Norges Bank backs the EU’s MiCA regulation while considering a CBDC to enhance cross-border payments and support financial stability in Norway.

Norges Bank, Norway’s central bank, has endorsed the European Union’s Markets in Crypto-Assets Regulation (MiCA) as the country evaluates the potential adoption of a central bank digital currency (CBDC).

Kjetil Watne, project director for Norges Bank’s CBDC project, said in an interview with Cointelegraph that Norway, as a member of the European Economic Area (EEA), welcomes MiCA’s framework. However, he noted that the bank is still considering “whether additional regulations are necessary to promote financial stability.”

Watne explained that Norges Bank has “not yet decided” if it will issue a CBDC and is assessing how to “mitigate regulatory gaps related to decentralized finance.”

Supporting MiCA and CBDC implementation
As part of the EEA, Norway closely aligns with EU regulations, including MiCA, which Watne said is “under public review and currently being assessed by the Ministry of Finance.”

According to Watne, Norges Bank considers CBDCs potentially useful for cross-border payments but that “it remains to be seen how a CBDC-based cross-border payment system would look.”

In 2023, the bank participated in “Project Icebreaker,” a trial exploring new architectures for retail CBDC transactions across borders. Watne added:

“We believe that an eventual CBDC will, if issued, will supplement and not replace cash. We also believe that digital currencies will continue to exist in parallel with CBDCs.”

Addressing privacy concerns
According to Watne, Norges Bank has taken a measured stance on privacy concerns related to CBDCs, recognizing that digital payments “will leave digital taxes.”

He emphasized that Norges Bank “is not responsible for monitoring individual payment transactions” and noted that most central banks, including Norges Bank, do not plan to access customer CBDC payment details or account balances.
“Norges Bank’s analyses assume that this will be the path also for Norges Bank. As with other forms of payment, it will be necessary to ensure that relevant rules are complied with, for example anti-money laundering rules.”

Does MiCA pose “systemic” banking risks?
The EU’s MiCA regulation is set to take full effect on Dec. 30 and could introduce “systemic risks” to the banking sector, particularly for stablecoin reserves, according to Tether CEO Paolo Ardoino.

Under MiCA, stablecoin issuers will be required to hold a significant portion of their reserves, at least 60%, in European banks, creating a cause for concern when it comes to loans.

Ardoino explained that, due to banks’ ability to loan up to 90% of their reserves, the risks posed by MiCA regulatory requirements could create significant points of vulnerability for reserves if a bank holding them goes bankrupt.

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

ANALYST: EUROPE IS SECRETLY PREPARING FOR A RENEWED GOLD STANDARD

Jan Nieuwenhuijs, an expert in gold markets, believes he has found evidence that Europe is preparing to adopt a new standard. He states that the recent movements of several Eastern European countries—purchasing or selling gold to reach a determined ratio—are part of the actions leading up to this development.

Analyst: Countries in Europe Equilibrating Gold Reserves to Adopt a Common Standard
Countries in Europe are getting ready to back their currency, at least partially, with gold. Jan Nieuwenhuijs, an expert in the movement of gold markets that follows central bank purchases, has found evidence that this is happening coordinately, even though central banks publicly deny it.

The root of this common understanding would be the 1999 Washington meeting that produced the Central Bank Gold Agreements, in which 15 central banks inked a pact to coordinate their gold sales and maintain a stable metal market.

On this agreement, Nieuwenhuijs stated:

For those paying close attention, it was obviously meant to equalize gold reserves among countries relative to GDP.

To justify his allegations, Nieuwenhuijs reports that the recent purchases from countries like Poland, Hungary, and the Czech Republic were directed to equilibrate their gold reserve to GDP ratio to the ones held by countries in the Eurozone. This is supported by statements made by Poland’s former Minister of Finance Konrad Raczkowski, directly commenting on these numbers.

Raczkowski assessed that Poland should purchase 120 tonnes of gold to reach the ratio maintained by several other countries in the Eurozone, 4% GDP. He declared:

It seems that in the near future, this will be the new gold standard for the entire eurozone. These reserves will have to be adjusted to the size of the economy.

Nonetheless, Nieuwenhuijs reports that, even with all the evidence surrounding these coordinated moves, central banks have continuously denied there is some kind of harmonization behind these exchanges. “Countless Freedom of Information (FOI) requests submitted throughout Europe, directed at central banks and Ministries of Finance, all yielded nil,” he stressed.

However, he has sometimes received negative answers to these petitions, with the Central Bank of Belgium stating that this information was “confidential,” obeying a central bank law that commanded the institution to maintain a “legal obligation of secrecy.”

In August, Nieuwenhuijs alleged that China, which had stopped purchasing gold according to reports, was secretly growing its reserves to take advantage of the price cool-off.

@ Newshounds News™

Source:  Bitcoin News

~~~~~~~~~

🌱 FIRST SPACEX STARSHIP LAUNCH SINCE 'CHOPSTICKS' CATCH: HOW TO WATCH  |  Youtube

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Seeds of Wisdom RV and Economic Updates Saturday Afternoon 11-9-24

Good Afternoon Dinar Recaps,

TETHER COMPLETES FIRST MIDDLE EAST CRUDE OIL TRANSACTION

Tether has finalized its first funding transaction in a Middle East crude oil investment, expanding the crypto company’s ventures beyond its flagship digital assets product.

The investment involves a major publicly traded oil company and a leading commodity trader, aiming to facilitate the loading and transportation of over 670,000 barrels of crude oil.

According to the announcement on Nov. 8, the Tether stablecoin issuer’s investment arm completed the transaction in October 2024. The total value of the Middle Eastern crude oil is approximately $45 million, marking Tether’s initial entry into the crude oil business in the region.

It also highlights the crypto company’s growing traction in commodities trading across the world.

“This transaction marks the beginning, as we look to support a broader range of commodities and industries, fostering greater inclusivity and innovation in global finance,” said Paolo Ardoino, chief executive officer of Tether.

Tether’s Trade Finance unit, which launched earlier this year, has experienced significant growth as the company targets opportunities in the $10 trillion trade finance market.

Notably, while this new venture is part of Tether Investments’ broader portfolio, it is not connected to the platform’s USDT stablecoin reserves.

Tether stated that this investment is part of its expansion strategy, which also includes involvement in artificial intelligence, education, renewable energy, Bitcoin mining, and telecommunications.

The company recently revealed it hit $7.7 billion in nine-month profits for 2024, with the third quarter attestation report also highlighting over $102 billion in U.S. Treasury holdings.

While the USDT circulation reached nearly $120 billion in the quarter, Tether said it held over $6 billion in extra reserves.

@ Newshounds News™

Source:  Crypto News

~~~~~~~~~

AUSTRALIA TO TRIAL WHOLESALE CBDC FOR ASSET TOKENIZATION IN 2025. INVITES PARTICIPANTS

The Reserve Bank of Australia (RBA) has launched a consultation on wholesale CBDC and asset tokenization with the Digital Finance Cooperative Research Centre (DFCRC), with a deadline for responses of December 11.

It is inviting industry members to provide feedback and take part in trials for wholesale tokenization use cases in 2025 as part of Project Acacia. They may also want to join the industry advisory group.

Apart from a wholesale CBDC, Project Acacia will explore the use of private forms of digital money, including tokenized deposits.

Previous RBA and DFCRC CBDC experiments covered both wholesale and retail CBDC where the CBDC was issued on a central bank controlled infrastructure. In the latest trials, the central bank will consider issuing a pilot wCBDC onto third party blockchain networks, in a similar manner to Switzerland’s Project Helvetia.

RBA assistant Governor Brad Jones said the aim is to “examine how innovation in wholesale markets could be enabled by new forms of digital money and supporting infrastructure.

The role that tokenised asset markets could play in improving the efficiency and resilience of wholesale payments and settlements, and in enhancing cross-border payments, are areas of particular interest.”

However, the current phase of Project Acacia will focus on domestic wholesale settlement.

Settlement options with digital money
The two organizations have already completed the first phase of Project Acacia, which involved desktop research regarding different settlement options.

It considered five different forms of settlement assets, including:

▪️existing central bank money (Exchange Settlement Accounts or ESAs)
▪️wholesale CBDC (wCBDC)
▪️deposit tokens
▪️reserve-backed digital currency (RBDC)
▪️fiat-backed stablecoins.

Deposit tokens are tokenized versions of commercial bank money. RBDC is tokenized money backed by a pooled or omnibus central bank account (similar to Fnality).

A key feature of tokenized deposits is they involve two steps because the seller (recipient) may not bank at the same bank as the buyer (payer). Hence, there’s a transfer of the bank token from buyer to seller and then the two banks need to settle up with each other. The RBA referred to this settling up process as the interchange mechanism.

Hence, in reviewing settlement options it considered whether the settlement asset is on the same platform or not, the different types of settlement assets, and the interchange mechanism. If the settlement asset is on a separate platform there’s a need for synchronization to ensure the transaction status on the tokenized money DLT matches the tokenized asset platform.

This synchronization without a wCBDC is similar to the European Central Bank wholesale DLT experiments with Germany’s Trigger solution and Italy’s TIPS Hashlink offering. The RBA gave the nod to the Bank of England’s ‘synchronisation’ capability as part of its RTGS renewal program.

Five potential settlement models were selected from the research, involving tokenized deposits and / or wCBDC. Stablecoins are not included. There is no intention to select just one model, because the RBA and DFCRC believe different models will be suitable for different markets.

Digital currency and wCBDC trade offs
The research highlighted some of the tradeoffs with different models. For example, if a wCBDC is issued onto a third party platform, it can support atomic settlement and composability, which could offer economic benefits such as efficiencies, risk reduction and new business models.

However, that would require the central bank to change its role to just being the issuer, reducing its ability to manage and monitor balances.

Alternatively, using existing central bank reserves for settlement would involve more incremental changes for both the central bank and market participants. However, it would forego some of the economic benefits of atomic settlement and composability. The central bank is keen to understand these tradeoffs in greater detail.

Meanwhile, Project Acacia will also involve three other agencies, the Australian Securities and Investments Commission (ASIC), the Australian Prudential Regulation Authority (APRA) and the Treasury. The project may trigger potential regulatory changes which could be tests as part of ASIC’s sandbox framework.

@ Newshounds News™

Source: Ledger Insights 

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🌱WHAT DO THE NEW CHANGES MEAN? DID YA CATCH THE INTEL? EXCITING GOOD FACTS.  |  Youtube

Did you miss the Live Constitution call last night with Mason and Jim?  Here is the Replay with many questions and comments from our members.  Listen and share.

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Source:  Seeds of Wisdom Team RV Currency Facts

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7 Red Flags That Will Help You Avoid Financial Scammers

7 Red Flags That Will Help You Avoid Financial Scammers

August 20, 2024   Written by  Cynthia Measom  Money / Financial Planning

You can’t be too protective of your money and personal information. Financial scams are running rampant.

According to our recent “Keep Your Money Safe” survey, when victims of financial scams were asked what type of scam they had experienced, 27% said they had been the victim of phone scams (robocalls, texts, false impersonators, bots).

Additionally, 11% said they were victims of money transfer or mobile payment service scams — 20% on Cash App and 17% on PayPal. Online shopping and phishing scams were also common, with 25% of respondents claiming to have been scammed on Facebook and 13% on Instagram.

Here are the red flags you should look for to help you avoid financial scammers.

Unknown Sender

Approximately 34% of respondents to the GOBankingRates survey said that receiving communication from an unknown sender is what tips them off most regarding a potential scam.

Todd Redding, founder of Probity Investigations, said that scammers often initiate contact through unexpected emails, phone calls or messages.

“These unsolicited communications frequently request personal information or prompt urgent actions,” he said. “It is crucial to be cautious when receiving such contact, especially if it comes from unknown sources. Always verify the authenticity of the sender or caller before providing any personal details.”

Misspelled Words or Bad Grammar

Receiving communication that is written poorly or contains bad grammar is another red flag that 14% of respondents said tips them off to a scam.

Ryan McEachron, a security and risk management expert and CEO of ISU Insurance Service ARMAC Agency, said that unprofessional communication with typos, grammar issues or an inconsistent story indicates a scam.

“Legitimate companies have skilled communicators and consistent, transparent messaging,” he explained. “If something seems too good to be true, it probably is. Trust your instincts — if an offer makes you feel uncertain or uncomfortable, pass on it.”

Approximately 12% of survey respondents cited a strange email address or phone number as a tip that something is amiss.

Mark Shyani, lawyer and managing attorney at Pacific Attorney Group, said that he’s seen many red flags, but one that stands out to him is the “referral from trusted source” scam.

“In this scam, criminals pretend to be someone you know — often an esteemed colleague or long-time client — who wants to send a client or opportunity your way,” he said. “They do this because they understand that people are more likely to take notice of referrals made by people they trust.”

Shyani continued, “Once, when I was running my practice, I got an email, apparently from a prominent lawyer who was referring a big case to me. It looked legitimate; everything about it mirrored this attorney’s typical messages, right down to the sign-off. However, certain things seemed slightly off: The email address had been changed subtly, and the sender requested an upfront ‘referral fee,’ which struck me as strange.”

He concluded, “This scam’s ability to exploit preexisting trust and professional relationships makes it so dangerous. To avoid being duped by it yourself, make sure you cross-check every referral with your trusted source directly using other means of communication (like calling them on the phone) before taking action.”

Requests for Specific Information or Specific Amounts of Money

Around 9% of survey respondents said that if someone requested specific information or specific amounts of money, they would suspect a scam.

TO READ MORE:   LINK  

Seeds of Wisdom RV and Economic Updates Saturday Morning 11-9-24

Good Morning Dinar Recaps,

SWISS BANK UBS TESTS BLOCKCHAIN FOR CROSS-BORDER PAYMENTS WITH DIGITAL CASH

UBS has successfully piloted its blockchain-based payment system to enhance the efficiency of cross-border transactions.

Multinational investment giant UBS has completed a pilot of its blockchain-based payment system dubbed “UBS Digital Cash,” aimed at improving the efficiency of cross-border transactions.

In a Nov. 7 press release, the Zurich-headquartered bank said the trial, which involved multinational clients and banks, included both domestic payments within Switzerland and cross-border transactions in U.S. dollars, Swiss francs, euros, and Chinese yuan.

The system uses a private blockchain network called “UBD Digital Cash,” accessible only to permissioned clients, with transactions settled through smart contracts that automatically execute once predefined conditions are met.

“Blockchain-based payment solutions for cross-border payments are a strategic focus for UBS.”  ~  Andy Kollegger, head of UBS Institutional & Multinational Banking

Commenting on the milestone, Xiaonan Zou, UBS head digital assets says the bank considers the interoperability between UBS Digital Cash and other digital cash initiatives as “key for the financial industry.” 

The latest initiative complements UBS’s involvement in a wide range of market initiatives, the bank says, referring to the Swiss National Bank-led project Helvetia for real wholesale Swiss franc Central Bank Digital Currency, as well as the Agorá project, led by the Bank for International Settlements.

The pilot comes shortly after UBS launched its first tokenized investment fund on Ethereum, the UBS USD Money Market Investment Fund Token, targeted at authorized distribution partners in Singapore.

@ Newshounds News™

Source:  Crypto News

~~~~~~~~~

XRP NEWS TODAY: RIPPLE PLANS DIRHAM-BACKED STABLECOIN LAUNCH IN UAE

▪️Ripple’s Dirham-Backed Stablecoin: Ripple plans a UAE launch, benefiting from clear regulations.

▪️RLUSD Speculation: Ripple’s potential US dollar-backed stablecoin stirs interest.

▪️XRP Price Stability: XRP remains steady amid stablecoin developments.

Ripple is generating buzz about a possible Dirham-backed stablecoin launch in the UAE, coinciding with discussions around its upcoming RLUSD. The firm recently praised the UAE’s progressive digital asset regulatory framework, which encourages blockchain innovation and stablecoin integration.

Ripple has maintained a strong presence in the Middle East, with notable partnerships such as the National Bank of Abu Dhabi’s adoption of its payment solutions. 

With the UAE’s regulatory clarity, a Dirham-backed stablecoin would align with Ripple’s goal to support secure and efficient digital transactions.

By tapping the UAE market for its stablecoin Ripple is surely making a big affair in the crypto business.  

Clear Regulations Fuel UAE’s Blockchain Ambitions
The UAE Central Bank has introduced a solid regulatory framework that supports stablecoin use in virtual asset transactions, including Dirham-backed coins.

Ripple has pointed out that this clarity positions the UAE as a leader in digital finance, creating an environment conducive to stablecoin adoption. For businesses in the UAE, a Dirham-backed stablecoin could provide a faster, more cost-effective solution for cross-border payments, making it an attractive option for financial institutions.

RLUSD and US Dollar Speculation: What’s Next for Ripple?
In the U.S., attention is now on Ripple’s potential release of the US dollar-backed stablecoin, RLUSD. Speculation is growing, especially with the possibility of Donald Trump winning the 2024 presidential election. A Trump presidency could bring clearer regulations, potentially accelerating the launch of RLUSD.

Recently, Ripple moved 294,000 RLUSD tokens, fueling curiosity about the timing of the release. CEO Brad Garlinghouse and industry experts are optimistic about RLUSD, seeing it as a key driver for cross-border payments and digital banking.

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Read more:  CoinPedia

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🌱WHAT DO THE NEW CHANGES MEAN? DID YA CATCH THE INTEL? EXCITING GOOD FACTS.  |  Youtube

Did you miss the Live Constitution call last night with Mason and Jim?  Here is the Replay with many questions and comments from our members.  Listen and share.

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Seeds of Wisdom RV and Economic Updates Friday Morning 11-8-24

Good  Morning  Dinar Recaps,

XRP LAWSUIT: ARE RIPPLE’S BRAD GARLINGHOUSE AND CHRIS LARSEN AT RISK OF PRISON, OR WILL THE SEC WITHDRAW ITS APPEAL?

The final phase of the crypto bull market appears to have begun, with Bitcoin hitting new highs and altcoins starting to show signs of life. Meanwhile, there’s growing speculation that the SEC’s new chair could end lawsuits against Ripple, Coinbase, and others. Former SEC officials are predicting big changes ahead.

It seems like SEC Commissioner Mark Uyeda is in the running to be appointed acting SEC chair during the transition period after Gary Gensler’s departure. 

This is huge for the crypto space, especially since Uyeda is known for being more favorable towards the industry. There’s also a chance that Hester Peirce, another crypto-friendly commissioner.

Jeremy Hogan, a crypto lawyer, also shared his thoughts, predicting that Gensler will likely step down before January 20th. He believes that the new leadership will move quickly to dispose of non-fraud crypto cases, including those involving Ripple and Coinbase.

This could lead to the dismissal of many ongoing cases, with the Ripple case likely settled for the $125 million already awarded by the court.

Amid the ongoing uncertainty surrounding the current administration, one user asked whether a new, crypto-friendly government could lead the SEC to withdraw its appeal in the Ripple case. 

Marc Fagel, a former SEC attorney said that typically, enforcement actions are based on the law, not political influence, and it would be highly unusual for the SEC to reverse course. However, with the current administration challenging traditional norms, it’s hard to predict what could happen next.

When asked whether Ripple executives Brad Garlinghouse, David Schwartz, and Chris Larsen could face prison time for alleged fraud, the attorney declined to comment. The user accused them of “scamming people for over 10 years” and profiting hundreds of millions did not receive a direct response.

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Source:  CoinPedia

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DEFI NEEDS REGULATION TO DRIVE ADOPTION — WEB3 EXEC

Web3 professional Agne Linge believes that for broader DeFi adoption, regulations must catch up to make people feel safe.

While decentralized finance (DeFi) technology is advancing within the Web3 space, a crypto executive believes the sector still has a long way to go.

At the recent Binance Blockchain Week in Dubai, Agne Linge, a former director of Binance Lithuania who now works with Web3 projects WeFi and Yellow Network, told Cointelegraph that while regulations in jurisdictions like Europe have addressed centralized exchanges and wallet providers, DeFi remains largely “out of scope.”

Linge believes that for DeFi to achieve broader adoption, regulations must be deployed for the industry. Linge told Cointelegraph:

“If you want adoption, we need regulation. We need people to feel safe and to trust the institutions. With what happened in the crypto industry, I think we still have some reputational work to do.” 

Linge also praised regulators for “weeding out” bad actors in the ecosystem and trying to understand the technology but emphasized that DeFi also needs attention.

DeFi not “totally” decentralized
While some in the crypto community believe DeFi should operate without regulation, Linge has a different view. The executive said that even decentralized autonomous organizations (DAOs) members are in danger of being legally accountable. She said:  

“This is not true. I mean, even a DAO. If you are a DAO, then all of the DAO members can be legally liable.”

According to Linge, the space needs regulation because it’s “not totally decentralized.” Linge explained that DeFi still has people signing contracts, on and off-ramp providers, and other variables that would benefit from regulatory clarity.

When asked about DeFi’s potential for wider adoption, Linge argued that, because DeFi places finance on a decentralized blockchain, it could reduce reliance on centralized options:

“With the tools that we have, everything is widespread and globally connected, why would we use centralized solutions? I mean, this will provide more efficient interaction and integration to everything.”

She added that while DeFi is currently in its own niche, it will eventually take another shape or form. “Maybe not completely like autonomous. There will be persons responsible like legal entities, but in general, the infrastructure is only for the benefit of this globally interconnected world,” Linge added.

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Source:  CoinTelegraph

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