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Seeds of Wisdom RV and Economic Updates Wednesday Evening 1-29-25
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BRICS: US DOLLAR FALLS AS TRUMP TARIFF PLAN TAKES A TURN
Geopolitical tensions are nearing a fever pitch as the global south and the west face off. With de-dollarization efforts at the forefront, the two sides have shown no interest in budging.
However, things took a twist for BRICS and the US this week, as the US dollar fell from its two-year high with President Donald Trump’s 100% tariff plan taking a turn.
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BRICS: US DOLLAR FALLS AS TRUMP TARIFF PLAN TAKES A TURN
Geopolitical tensions are nearing a fever pitch as the global south and the west face off. With de-dollarization efforts at the forefront, the two sides have shown no interest in budging.
However, things took a twist for BRICS and the US this week, as the US dollar fell from its two-year high with President Donald Trump’s 100% tariff plan taking a turn.
Throughout his campaign for reelection, Trump has not been shy about his perspective on the US dollar. Specifically, he has continued to maintain the importance of the greenback to remain the world’s currency. This week, he has shared an interesting update that adds the latest on what is an extended saga.
US Dollar Falls From 2-Year High as BRICS & Trump Saga Enters Another Chapter
Since his 2024 presidential election win in November of last year, Donald Trump has targeted the BRICS alliance. He has issued a severe warning on the bloc, calling for 100% tariffs on participating nations. Specifically, he sought to challenge its ongoing initiatives to create a native currency to oppose the dollar.
That had been received rather well by the United States citizens. In his early days returning to the Oval Office, the greenback had surged to a two-year high. However, things took a turn on Monday. Specifically, the BRICS and US faceoff saw the US dollar fall as Trump’s tariff plan has taken a turn.
Late last week, the dollar fell to a January low following a recent statement from the US President. Specifically, Trump said he would “rather not” impose tariffs on China, according to a Yahoo Finance report. Moreover, he went into detail about the plan and its impact on the largest economy in BRICS.
“We have one very big power over China, and that is tariffs, and they don’t want them,” Trump said. “And I’d rather not have to use it. But it’s a tremendous power over China.” That statement led the US Dollar index to fall more than 0.5%. In the end, it would have its worst week of the year thus far.
The move saw the greenback suffer its greatest single-day drop since November of 2023. Moreover, the report notes that the movement is likely connected to the president’s refrain from using the “broad-based tariffs on his first day in office.”
The unknown nature of the tariff policy will still have an increased effect on the dollar. With his economic and international relations policy still developing, its confrontation with BRICS is immensely important to observe.
@ Newshounds News™
Source: Watcher Guru
~~~~~~~~~
FED: BANKS ABLE TO SERVE CRYPTO CUSTOMERS, BTC UP 3%
Bitcoin bounced after comments from U.S. Federal Reserve Chair Jerome Powell at the FOMC meeting signaled that banks are allowed to serve crypto clients.
Crypto markets initially had a muted reaction to the Federal Open Market Committee’s decision on Wednesday, Jan. 29, to keep interest rates unchanged. The Fed maintained its 4.25% to 4.50% federal funds rate, citing “somewhat elevated inflation,” as analysts had predicted.
Bitcoin edged up 0.5% minutes after the Fed released its FOMC minutes. The uptrend accelerated to 3%, pushing BTC above $103,500 heading into the U.S. evening trading session.
Responding to a crypto-related question, Powell stated that U.S. banks are “perfectly able” to serve crypto customers, provided they comply with risk disclosure requirements. He emphasized that de-banking legally compliant customers is not Fed policy, addressing concerns related to the so-called “Operation Choke Point 2.0.”
“Great regulation on crypto would be helpful,” Powell added.
He also reiterated that the U.S. central bank cannot legally hold BTC, prompting Senator Cynthia Lummis to propose changing the law if necessary.
Digital asset markets flipped green following Powell’s remarks while major U.S. equity indices closed the day slightly in the red.
Unchanged federal interest rates split sentiment between bulls and short-term bears. Bulls argued that Bitcoin could surge in February, as it has in eight of the last 12 Februaries. They also speculated that President Trump’s pro-crypto stance could provide additional support for BTC and the broader market.
Bears, on the other hand, contended that static interest rates could deter new capital inflows into BTC and related products, such as Wall Street’s spot Bitcoin exchange-traded funds.
Meanwhile, reports suggest that President Trump has encouraged Powell and the Fed to implement lower interest rates. However, Powell stated that he has had no contact with Trump so far and did not comment on the rumored request.
@ Newshounds News™
Source: Crypto News
~~~~~~~~~
TRUMP MEDIA PARTNERS WITH CHARLES SCHWAB IN NEW CRYPTO VENTURE TRUTH.FI
President Donald Trump’s media and technology group (TMTG) is announcing a partnership with financial services giant Charles Schwab to further venture into the world of decentralized finance (DeFi)
In a new press release, TMTG – the firm behind social media platform Truth Social and the video streaming service Truth+ – says it’s collaborating with Charles Schwab to launch Truth.Fi, a fintech firm with crypto services.
@ Newshounds News™
Read more: DailyHodl
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Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 1-29-25
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CRYPTO MOMENTUM IN THE US: WHAT’S NEXT FOR RIPPLE PAYMENTS
The turn of the year signifies motivated new beginnings, and Ripple has hit the ground running in 2025 with multiple advances to its cross-border payments solution.
Additionally, industry players across the US are enthusiastic about what the next four years has in store as a progressive crypto administration takes office.
Financial institutions that are eager to stay ahead of the curve are moving to capitalize on crypto—both to diversify portfolios and to optimize efficiency through blockchain solutions.
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CRYPTO MOMENTUM IN THE US: WHAT’S NEXT FOR RIPPLE PAYMENTS
The turn of the year signifies motivated new beginnings, and Ripple has hit the ground running in 2025 with multiple advances to its cross-border payments solution.
Additionally, industry players across the US are enthusiastic about what the next four years has in store as a progressive crypto administration takes office.
Financial institutions that are eager to stay ahead of the curve are moving to capitalize on crypto—both to diversify portfolios and to optimize efficiency through blockchain solutions.
Crypto-enabled cross-border payments is one use case that has proven valuable to global finance leaders, more than 90% of which believe blockchain and digital assets will have a massive or significant impact on finance in the next three years.
Ripple, the leading provider of digital asset infrastructure for financial institutions, has recently secured key Money Transmitter Licenses (MTLs) in New York and Texas—two states where Ripple has seen strong demand for real-time global payments from both banks and crypto businesses—bringing the total to more than 50 MTLs.
Texas and New York have defined regulations and stringent licensing requirements with robust compliance standards and regulatory oversight.
With more than 60 licenses globally, Ripple can offer customers access to a seamless, compliant-first, global payment experience that leverages the superior capabilities of digital assets. MTLs allow Ripple Payments customers to access a licensed version of the cross-border payments solution in the US where transactions are managed end-to-end by Ripple on behalf of the customer.
For years, Ripple has been working diligently to secure global licenses. Ripple and its other subsidiaries collectively hold:
▪️a NY BitLicense
▪️NY Limited Purpose Trust Company Charter
▪️55+ MTLs across Ripple's payments, custody and stablecoin business
▪️a Major Payment Institution License from the Monetary Authority of Singapore
▪️a Virtual Asset Service Provider registration with the Central Bank of Ireland
▪️a Virtual Asset Service Provider registration with the Cayman Islands Monetary Authority
▪️in-principle license approval from the DFSA
Additionally, customers can access Ripple’s global payments network through a single integration where streamlined onboarding offers the agility and speed necessary to keep up with the rapidly evolving payments market. Last year saw banks lose a small but noteworthy share of the cross-border payments market to new players, indicating a trend that will likely drive banks to rethink strategies to stay competitive.
“We’re continuing to see more interest from financial institutions to crypto businesses that want to unlock the benefits of crypto and blockchain for faster, cost-efficient and 24/7 cross-border payments.
With years of experience working in both crypto and with financial institutions, Ripple is well-positioned to support companies who are ready to take advantage of the current landscape,” said Joanie Xie, Managing Director of North America at Ripple.
Ripple Payments has served $70 billion in payments volume, with around-the-clock availability and global network coverage across 90+ markets representing more than 90% of the daily FX markets. Last year, Ripple’s payments business doubled and a number of new North American customers were added to the network including:
▪️Bancoli
▪️CambioReal
▪️GeoSwift
▪️AgilityFx
▪️Cloud Payments
▪️Atlantic Xchange
▪️Zil Money
Demand for digital asset capabilities has grown alongside greater adoption of stablecoins for payments including Ripple USD (RLUSD)—an enterprise-grade, USD-denominated stablecoin created with trust, utility, and compliance at its core. RLUSD will be integrated into Ripple Payments later this year.
Digital asset regulation in the US is rapidly shifting. Just last week, the Securities and Exchange Commission (SEC) rescinded SAB 121 for crypto assets, which would have imposed prohibitive requirements on banks offering digital asset custody services. Congress had previously voted to overturn SAB 121 last year with bipartisan support.
A growing number of US policymakers and regulators are recognizing the importance of digital asset innovation, signaling a confidence in the realized and potential benefits at both the consumer and industry level.
As such, real-world digital asset use cases are moving to the foreground and institutions are taking action on their crypto strategies.
The financial sector is trending increasingly digital as technologies like blockchain and artificial intelligence envelop existing services and open doors to new use cases like real-world asset (RWA) tokenization which can afford greater utility, liquidity, and accessibility of financial instruments (e.g., stocks, bonds, ETFs).
Ripple is continuing to expand its US footprint by investing in domestic talent; ~75% of open positions are based in the US and domestic hiring has doubled compared to 2023. Just last year, Ripple opened new, larger offices in San Francisco and New York, signaling positive business momentum in the US.
The coming years will likely be monumental for the crypto industry, with many optimistic that political bodies and financial institutions alike will glean the benefits of blockchain through public-private collaboration, continued education, and tangible results driven by real-world applications of the technology.
@ Newshounds News™
Source: Ripple
~~~~~~~~~
COINBASE DEEPENS TIES TO TRUMP WITH ADVISORY COUNCIL PICK
Weeks after a meeting between Trump and Brian Armstrong to reportedly discuss personnel, the US president’s co-campaign manager will be joining Coinbase’s advisory council.
In a Jan. 29 notice, Coinbase said former Trump co-campaign manager Chris LaCivita would join former US Senator Kyrsten Sinema, former New York Fed president Bill Dudley and former Colombian Ambassador to the US Luis Alberto Moreno on the exchange’s Global Advisory Council. LaCivita, who worked to help elect Trump, has close ties to the Republican National Committee and likely continues to have a relationship with the US president.
According to LaCivita, the crypto industry “deserves better” than former US President Joe Biden’s administration’s approach to legislation and regulation. He echoed Trump’s claims of making the US a leader in digital assets.
Coinbase established its advisory council in May 2023 to navigate the “increasingly complex and evolving” crypto landscape globally.
The council’s members have included several former US lawmakers, including former Senator Pat Toomey. Cointelegraph contacted Coinbase regarding its current ties to the Trump administration but did not receive a response at the time of publication.
Coinbase CEO Brian Armstrong reportedly met with Trump in November after the US election to discuss personnel appointments. The exchange donated $1 million to Trump’s inauguration fund and said it was “committed to supporting” the transition from the Biden administration.
In 2020, Armstrong said Coinbase would not support “any particular causes or candidates” unrelated to its mission, calling them a “distraction.”
After the exchange received a Wells notice from the US Securities and Exchange Commission in 2023 — that ultimately led to a civil lawsuit — the company launched efforts to influence the outcome of US congressional elections, later contributing $45 million to help elect “pro-crypto” candidates in 2024.
With the election of Trump, some executives at crypto firms have suggested that the SEC’s new leadership could drop enforcement cases, potentially including Coinbase’s. A federal judge ordered Coinbase’s case stayed in January pending a decision by the Second Circuit Court of Appeals that could reverse an order denying the exchange’s motion for judgment.
@ Newshounds News™
Source: CoinTelegraph
~~~~~~~~~
FED HOLDS INTEREST RATE AT 4.25-4.5% DESPITE TRUMP’S CALL FOR A CUT: HERE’S THE IMPACT ON CRYPTO
The US Federal Reserve has finally announced its first policy decision for 2025 following two-day Federal Open Market Committee (FOMC) meeting. According to the recent press release, the Federal Open Market Committee decided to maintain interest rates at their current range of 4.25% to 4.5%. This decision follows after the committee lowered rates three times consecutively last year.
Fed Pauses Rate Cuts Despite Trump’s Call
As expected, Federal Reserve officials decided not to change interest rates after their recent two-day meeting, the first under President Trump’s second term. They made this choice even though President Trump has been pushing them to lower the rates.
Crypto Market Remains Stable
The crypto market stayed fairly stable because it had already expected the decision to keep interest rates unchanged. Fed Chair Jerome Powell previously mentioned that the committee isn’t rushing to lower the key benchmark interest rates and will proceed more cautiously with any rate cuts.
@ Newshounds News™
Read more: Coinpedia
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Seeds of Wisdom RV and Economic Updates Wednesday Morning 1-29-25
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ELON MUSK’S X PARTNERS WITH VISA TO BUILD FUTURE PAYMENT SYSTEM WITH X MONEY
X CEO Linda Yaccarino announces a groundbreaking partnership with Visa for X Money, enabling real-time fund transfers and debit card connectivity as the platform expands into financial services.
▪️X has secured money transmitter licenses in over 40 states and FinCEN registration, laying groundwork for comprehensive financial services.
▪️The platform will allow users to fund X wallets via Visa Direct, highlighting Musk's strategy to transform X into an all-encompassing service.
▪️While promising innovative features for creators and users, the platform faces scrutiny over potential financial control and social credit concerns.
Good Morning Dinar Recaps,
ELON MUSK’S X PARTNERS WITH VISA TO BUILD FUTURE PAYMENT SYSTEM WITH X MONEY
X CEO Linda Yaccarino announces a groundbreaking partnership with Visa for X Money, enabling real-time fund transfers and debit card connectivity as the platform expands into financial services.
▪️X has secured money transmitter licenses in over 40 states and FinCEN registration, laying groundwork for comprehensive financial services.
▪️The platform will allow users to fund X wallets via Visa Direct, highlighting Musk's strategy to transform X into an all-encompassing service.
▪️While promising innovative features for creators and users, the platform faces scrutiny over potential financial control and social credit concerns.
Elon Musk’s social media platform X has partnered with Visa to manage person-to-person payments for its upcoming X Money product. X CEO Linda Yaccarino announced that the partnership is the first of many major announcements related to X Money this year.
Yaccarino shared that Visa is the first partner for the X Money account, which is expected to launch before year’s end.
She explained that Visa will allow the platform users to fund their X wallets via Visa Direct, connect their debit cards for person-to-person payments, and transfer funds instantly to a bank account.
On December 31, the X CEO hinted at what users can expect this year, saying, “2025 X will connect you in ways never thought possible. X TV, X Money, Grok and more.”
Visa confirmed the partnership in a post, noting that it will enable U.S. X Money Account users to fund their accounts and transfer money in real-time using their debit cards through Visa Direct. The company stated:
“We’re excited to partner with XMoney on the launch of X Money Account. Visa Direct will make it possible for US X Money Account users to fund and transfer money in real-time with their debit card.”
Musk’s Plans to Evolve X Into an All-in-One Platform
Elon Musk has shared his vision of transforming X from a social media platform into an “everything app.” He has promised to make X a platform where users can conduct their financial activities.
This collaboration with Visa signals a step toward realizing that vision. While the launch date for X Money remains unknown, more partners may join. According to CNBC, one of the initial uses for X Money will be enabling creators to receive payments and store funds independently.
In November 2022, Musk hinted during a publicly broadcast meeting with advertisers on Spaces that the platform’s upcoming payments product could eventually include banking features, such as a high-yield money market account.
X has successfully obtained money transmitter licenses in more than 40 states for its X Payments subsidiary and is registered with the Financial Crimes Enforcement Network (FinCEN) as a Money Service Business (MSB). App researchers have discovered code linked to X Money that outlines features like loading money into a wallet on the platform and making payments to other users.
Concerns Over X’s Financial Ambitions
Despite the excitement around X Money’s potential, there are concerns about the platform’s growing financial reach. Dominic Michael Tripi, a commentator with over fifty thousand followers on X, raised doubts about X’s control over user finances.
He pointed out that if the platform can take actions like removing a user’s verification checkmark or suspending an account, it could potentially control access to users’ funds. He wrote:
“If they can take away your checkmark or suspend your account, they can take away your money. This is a precursor to a social credit system.”
@ Newshounds News™
Source: CoinSpeaker
~~~~~~~~~
BRICS: SAUDI ARABIA MEMBERSHIP DECISION TO IMPACT 2 KEY THINGS
Out of the nations that BRICS invited to join the bloc in 2023, Saudi Arabia is one of the few that hasn’t officially joined yet. The Kingdom has been weighing the decision to join the alliance for over a year, with major geopolitical implications in the balance.
Faisal Al-Ibrahim, Minister of Economy and Planning, explained during the World Economic Forum in Davos that the kingdom is prioritizing a thoughtful approach to the decision, and doesn’t want to rush.
He stated that the country remains focused on the goal of “global dialogue” and carefully examines the “numerous aspects” related to a potential membership. According to him, this decision goes beyond economic considerations and involves complex strategic implications.
“The risks to economic cohesion, fiscal robustness, lingering inequalities, and energy access are not unconnected and affect us all,” the minister writes. “As such, tackling them demands bold, collaborative action and solutions.”
Al-Ibrahim also added at the forum,” “The kingdom is always focusing on fostering more global dialogue,” and that the Kingdom will come to an “appropriate decision.”
How Will Saudi Arabia Joining BRICS Affect the Alliance and Kingdom?
The BRICS alliance will get a boost in the arm if Saudi Arabia accepts the invitation and joins the bloc. Saudi Arabia is rich in cash flow and can fund the projects of the New Development Bank (NDB). The Kingdom is also oil-rich and can allow BRICS to control nearly 42% of the world’s natural oil sector.
On the other hand, Saudi Arabia does not want to sever ties with the West by joining the BRICS alliance. The Middle Eastern country wants to maintain a balance between the West and other developing countries. Riyadh is deeply interested in strengthening economic and diplomatic relationships with other major powers.
Most importantly, China is Saudi Arabia’s top trading partner, and Riyadh is the main supplier of crude oil to Beijing. These ties have only grown as the kingdom pursues its Vision 2030 plan to diversify its economy.
The success of its Vision 2030 needs the help and assistance of all countries combined. Losing one for the other would prove costly to Saudi Arabia’s economy.
In conclusion, Saudi Arabia’s decision to join or not to join BRICS will have plenty of implications not just on the Kingdom or the alliance, but several geopolitical outcomes. The Kingdom continues to weigh its options, and likely will not rush to a final decision.
@ Newshounds News™
Source: Watcher Guru
~~~~~~~~~
ONDO TO BRING TOKENIZED US TREASURYS TO XRPL
Ondo Finance said Tuesday (Jan. 28) that it will bring tokenized U.S. Treasurys to the XRP Ledger (XRPL).
This collaboration will offer institutional investors access to Ondo Short-Term U.S. Government Treasuries (OUSG), which are backed by the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) and can be instantaneously minted and redeemed at any time using the Ripple USD (RLUSD) U.S. dollar-denominated stablecoin, the companies said in a Tuesday (Jan. 28) press release.
“This integration is the natural convergence of a compliance-first, yield-bearing product with a network purpose-built for institutional adoption, setting the groundwork for forward-thinking institutions to lead a new era of capital markets onchain,” Ondo Finance Vice President of Partnerships Katie Wheeler said in the release.
Ondo and Ripple have secured commitments to seed OUSG liquidity upon deployment, according to the release.
The companies’ collaboration will meet institutional demand for tokenized U.S. Treasurys that offer liquidity, efficiency and transparency in capital markets, the release said.
Bringing OUSG to XRPL will provide a solution that provides institutional-grade security, accessible liquidity, and seamless tokenization and trading of real-world assets (RWAs), per the release.
“The 24/7 intraday settlement enabled by tokenized assets like OUSG marks a transformative shift in capital flow management, breaking free from traditional trading hours and slow settlements,” Markus Infanger, senior vice president, RippleX, said in the release.
The tokenization of RWAs has captured the imaginations of various players across payments, finance and commerce because it has the potential to make assets more liquid, accessible and efficient, PYMNTS reported last April.
Ripple and Archax extended their existing collaboration in June, saying they aimed to bring hundreds of millions of dollars of tokenized RWAs onto XRPL. Because Archax works with financial institutions to enable them to tokenize their financial RWAs, the collaboration will allow those institutions to select the XRPL to do so.
In February, Ondo Finance and Aptos Foundation partnered on the integration of RWAs with blockchain technology, beginning with the integration of Ondo’s tokenized U.S. Treasurys product, USDY, onto the Aptos blockchain. The partnership also sets the stage for a series of financial products using the strengths of the two organizations.
@ Newshounds News™
Source: Pymnts
~~~~~~~~~
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Seeds of Wisdom RV and Economic Updates Tuesday Evening 1-28-25
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MICROSOFT (MSFT) TO BUY TIKTOK? WHAT IT WOULD MEAN FOR THE STOCK
In a rather surprising development for the company, Microsoft (MSFT) has been rumored to be among those in play to buy TikTok. Indeed, the tech company is one of a slew of high-profile names looking to purchase the immensely popular social media platform, as it looks to secure a US buyer.
US President Donald Trump told reporters Monday that the Windows software developer was “nalized, it would certainly have massive implications for the company’s stock.
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MICROSOFT (MSFT) TO BUY TIKTOK? WHAT IT WOULD MEAN FOR THE STOCK
In a rather surprising development for the company, Microsoft (MSFT) has been rumored to be among those in play to buy TikTok. Indeed, the tech company is one of a slew of high-profile names looking to purchase the immensely popular social media platform, as it looks to secure a US buyer.
US President Donald Trump told reporters Monday that the Windows software developer was “nalized, it would certainly have massive implications for the company’s stock.
Microsoft Looking to Buy TikTok, Trump Says: Why It Could be Huge for MSFT
One of the ongoing business world developments that has caught the attention of the general public has been the race to buy TikTok. Indeed, the incredibly popular application was faced with a nationwide banning as the Biden administration left office.
Early into his second term, Donald Trump signed an executive order to delay that ban by 75 days.
Yet, it has not changed the necessity for the social media platform to be purchased. Now, all eyes are on prospective buyers. There is no shortage of interest, but there have also been no concrete offers being made. That may be changing now, as Microsoft (MSFT) may be in line to buy TikTok.
Trump has confirmed Microsoft’s interest while also noting the process is ongoing. He assured that he is in discussion with multiple parties to purchase the app. Moreover, he noted that the situation would likely be resolved over the next 30 days.
The platform is incredibly popular, with over 170 million American users. Yet, ByteDance, its Chinese owner, has not commented on Microsoft, or any companies, acquisition interest. There is no denying that a sale would be huge for anyone.
However, it could be massive for Microsoft in particular. The firm has not been shy about making significant investments in recent years. It purchased OpenAI after the rise of ChatGPT for $13 billion. That has been called some of the “best money ever spent.”
Similarly, TikTok could have interesting potential as it creates an avenue of entry for the Microsoft developer into the social media sector
@ Newshounds News™
Source: Watcher Guru
~~~~~~~~~
PRO-CRYPTO SENATOR LUMMIS FILES LEGAL BRIEF SUPPORTING COINBASE AGAINST SEC
Pro-crypto Sen Cynthia Lummis has filed an amicus brief to support the Coinbase against the US SEC
▪️Senator Cynthia Lummis has filed an Amicus Brief for Coinbase in SEC Lawsuit.
▪️The Senator accused the SEC of overstepping its regulatory authorities.
▪️She wants the court to side with Coinbase and define the SEC’s powers.
Senator Cynthia Lummis, a pro-crypto Republican, is intensifying her fight against the US Securities and Exchange Commission (SEC) policies under former Chair Gary Gensler in support of Coinbase Global Inc.
According to The Block, Lummis recently filed a 29-page amicus brief supporting Coinbase’s appeal against the SEC’s lawsuit. Her legal brief accused the regulatory agency of overreaching in its ongoing case, undermining Congress’s authority over digital assets.
The Case Against Coinbase: Lummis Steps In
The SEC’s lawsuit against Coinbase has become a flashpoint in the debate over the agency’s regulatory overreach. The agency accused Coinbase of operating as an unregistered exchange, broker, and clearing agency.
In response, Coinbase filed an appeal, arguing that the SEC’s actions are unjust and unconstitutional. The exchange claimed the lawsuit infringed on Congress’s authority to create laws.
Binance asked for clearer rules on how federal securities laws apply to crypto. The SEC’s refusal to approve the exchange’s request led to calls for court intervention.
As reported by Coinspeaker, the court sided with Coinbase, ordering the SEC to clarify its decision to reject the petition for crypto-specific regulations.
Senator Lummis, a staunch crypto and blockchain technology advocate, backed Coinbase’s position. In her brief, Lummis argued that the SEC’s aggressive approach to crypto registration is legally flawed and fundamentally un-American.
She criticized the agency’s classification of many digital assets as securities under Chair Gary Gensler. This move enforces strict registration rules that do not fit well with how digital assets work.
The Republican Senator criticized the SEC for being secretive and unfair in enforcing rules. She accused the agency of changing securities laws without being open or accountable.
She emphasized that Congress, not the SEC, has the constitutional authority to set the securities and commodities regulation framework.
Lummis emphasized the need for clear and fair laws to guide the future of the crypto industry. She urged the Second Circuit Court to step in and define the limits of the SEC’s authority.
Shifting SEC Stance Under a New Administration
Senator Lummis is gaining influence, especially with her new role as chair of the Senate Banking Committee panel focused on digital assets. She is working on bills to define the SEC’s role and pushing for laws that create a fairer balance for crypto regulation.
This includes one that would have digital asset exchanges register with the US Commodity Futures Trading Commission (CFTC) instead of the SEC. With President Donald Trumpnow in office, Senator Lummis expects the landscape for crypto regulation to undergo significant changes.
President Trump has nominated Paul Atkins, a crypto-friendly former regulator, as the new head of the SEC. Many in the crypto community hope the agency’s stance on digital assets could become more favorable.
This is due to Atkins’s background in supporting less stringent regulations for digital assets. This shift could lead to clearer guidelines and boost confidence in the market.n
@ Newshounds News™
Source: CoinSpeaker
~~~~~~~~~
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Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 1-28-25
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ARIZONA SENATE COMMITTEE APPROVES STRATEGIC BITCOIN RESERVE BILL
Arizona's move to explore digital asset investments, like Bitcoin, signals a growing trend among states to diversify public funds.
▪️Arizona's Senate Finance Committee approved a bill allowing public funds to invest in Bitcoin.
▪️The bill permits investment of up to 10% of public funds in virtual currencies like Bitcoin.
Good Morning Dinar Recaps,
ARIZONA SENATE COMMITTEE APPROVES STRATEGIC BITCOIN RESERVE BILL
Arizona's move to explore digital asset investments, like Bitcoin, signals a growing trend among states to diversify public funds.
▪️Arizona's Senate Finance Committee approved a bill allowing public funds to invest in Bitcoin.
▪️The bill permits investment of up to 10% of public funds in virtual currencies like Bitcoin.
Arizona lawmakers have advanced a bill allowing public funds to invest in Bitcoin and other digital assets, with the state Senate Finance Committee approving the measure in a 5-2 vote on January 27.
Co-sponsored by Wendy Rogers and Jeff Weninger, the proposed legislation, known as SB1025 or “Arizona Strategic Bitcoin Reserve Act,” allows the state to invest up to 10% of public funds, including those held by the state treasurer and retirement systems, in virtual currencies like Bitcoin.
The bill also includes provisions for storing digital asset holdings in a secure segregated account within a potential federal Strategic Bitcoin Reserve if the Secretary of the Treasury establishes a strategic Bitcoin reserve for government holdings.
The US Senate on Monday also confirmed Scott Bessent as Treasury Secretary on a vote of 68 to 29, with bipartisan support. As a supporter of Trump’s economic policies, Bessent opposes a central bank digital currency and is seen as pro-Bitcoin.
Following its passage through the Finance Committee, Arizona’s Bitcoin reserve bill now moves to the Senate Rules Committee, which will set parameters for floor debate and amendments. If approved by the full Senate, the measure will proceed to the House of Representatives.
According to Dennis Porter, CEO and co-founder of the Satoshi Action Fund, Arizona is the first state to have a bill specifically focused on creating a Bitcoin reserve pass through a legislative committee.
If this bill becomes law, Arizona would be the first state to officially invest public funds in Bitcoin.
As of Jan. 27, eleven states have introduced their respective Bitcoin reserve bills, according to Porter. He noted in a separate post, "I can confirm that at least 15 states will introduce ‘Strategic Bitcoin Reserve’ legislation. Maybe even 16." He also noted, "As a reminder, only 3 months ago this number was zero."
@ Newshounds News™
Source: CryptoBriefing
~~~~~~~~~
U.S. CRYPTO RESERVES SHOULD INCLUDE XRP TOO: RIPPLE CEO GARLINGHOUSE
▪️Ripple CEO advocates for a U.S. crypto reserve to include Bitcoin and other tokens.
▪️Brad Garlinghouse calls for collaboration, not competition, within the crypto industry.
▪️Bitcoin supporters argue only Bitcoin should be included in the U.S. crypto reserve.
Brad Garlinghouse, the CEO of Ripple, has stirred up the conversation around the U.S. government’s plans to create a national digital asset reserve.
While some Bitcoin supporters argue that only Bitcoin should be included, Garlinghouse believes that the reserve should be more inclusive, featuring Bitcoin alongside other cryptocurrencies like Ripple’s XRP. His bold stance challenges the status quo and raises important questions about the future of digital assets.
Brad Garlinghouse thinks collaboration, rather than competition, is the key to crypto’s success.
A Vision for Crypto’s Growth
Garlinghouse’s main message is that the cryptocurrency industry can thrive more if different cryptocurrencies work together instead of competing against each other. In a recent tweet, he pointed out that focusing on one cryptocurrency over others is not the way forward. He believes success in the industry will come through collaboration, not rivalry.
He stressed that the crypto market should not be a “zero-sum game,” where the success of one digital asset means the failure of another. Garlinghouse, who owns multiple cryptocurrencies, including XRP, Bitcoin, and Ethereum, wants a fairer playing field where all digital assets can succeed.
Why a Diversified Digital Reserve Matters
Garlinghouse believes any government-backed digital asset reserve should be diversified.
“If a government digital asset reserve is created, I believe it should be diversified. It should include more than just one token, whether it’s BTC, XRP, or any other.”
Ripple has been actively working with U.S. regulators to ensure XRP is part of the conversation about digital asset reserves. Garlinghouse believes that having a balanced reserve will help grow the cryptocurrency industry as a whole, benefiting more than just Bitcoin.
Bitcoin Supporters Push Back
Garlinghouse’s suggestion has faced criticism from some Bitcoin supporters. Pierre Rochard, Vice President of Riot Platforms, argues that Bitcoin’s decentralized nature makes it the only suitable cryptocurrency for the reserve. He also believes Ripple is lobbying to get XRP included.
Ryan Selkis, CEO of Messari, shares this viewpoint, stating that Bitcoin’s unique features make it a better fit for the reserve than other cryptocurrencies.
As the U.S. government considers creating a national digital asset reserve, the question remains: will it include only Bitcoin, or will it be open to other cryptocurrencies, as Garlinghouse suggests? This decision could have a big impact on the future of the crypto industry.
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Source: CoinPedia
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Seeds of Wisdom RV and Economic Updates Tuesday Morning 1-28-25
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SENATE CONFIRMS PRO-CRYPTO SCOTT BESSENT AS US TREASURY SECRETARY
As US Treasury secretary, billionaire hedge fund manager Scott Bessent will have sway over fiscal policy, financial regulations, international sanctions and overseas investments.
The US Senate has confirmed Donald Trump’s pick for US Treasury secretary, billionaire hedge fund manager Scott Bessent.
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SENATE CONFIRMS PRO-CRYPTO SCOTT BESSENT AS US TREASURY SECRETARY
As US Treasury secretary, billionaire hedge fund manager Scott Bessent will have sway over fiscal policy, financial regulations, international sanctions and overseas investments.
The US Senate has confirmed Donald Trump’s pick for US Treasury secretary, billionaire hedge fund manager Scott Bessent.
On Jan. 27, the Senate voted 68 to 29 to confirm Besset, with 16 Democrats supporting the nomination.
Ripple CEO Brad Garlinghouse congratulated Bessent on X, adding that he was “confident he’ll enact common-sense economic policies, working with the Administration and Congress to grow US tech and crypto innovation.”
As Treasury secretary, Bessent will have influence over the nation’s tax collections and its $28 trillion Treasury debt market. He will also have sway over fiscal policy, financial regulations, international sanctions, and overseas investments.
The 62-year-old Tennessee lawmaker strongly supports Trump’s economic agenda, including the renewal of $4 trillion in expiring tax cuts, the implementation of tariffs, and increased oil production. He also pushed back against the idea that Trump’s policies would be inflationary, Reuters reported.
During his confirmation hearing, Bessent said that government spending was “out of control.”
Bessent is known to be pro-crypto and against the notion of a central bank digital currency along with President Trump. “I see no reason for the US to have a central bank digital currency,” he said in a Jan. 16 Senate Finance Committee hearing.
He’s also said a central bank digital currency is for countries that have “no other investment alternatives” and are “doing it out of necessity.”
Bessent told Fox Business in July that he has “been excited about the president’s embrace of crypto, and I think it fits very well with the Republican Party. Crypto is about freedom, and the crypto economy is here to stay.”
Under Trump’s Jan. 23 crypto executive order, the Treasury will take a role in the governmental working group to hash out the strategy for US crypto policy.
Trump’s AI and crypto czar David Sacks, and the chairs of the Securities and Exchange Commission and the Commodity Futures Trading Commission will also form part of the working group.
@ Newshounds News™
Source: CoinTelegraph
~~~~~~~~~
CFTC ACTING CHAIR PHAMS CALLS ROUNDTABLE TO TACKLE CRYPTO ISSUES
Caroline Pham said the CFTC would “get back to basics” by hosting a series of roundtable talks with crypto industry leaders to address regulatory pain points.
On Jan. 27, Caroline Pham, acting chair of the Commodity Futures Trading Commission, said that the regulator plans to engage with digital asset stakeholders to discuss market structure and prediction markets as the U.S. pivots toward greater crypto adoption.
According to Pham, the CFTC “must take a forward-looking approach” to resolve conflicts of interest and policy gaps left by the previous administration.
Innovation and new technology has created a renaissance in markets that presents new opportunities that are accessible to more people, as well as risks. The CFTC will get back to basics by hosting staff roundtables that will develop a robust administrative record with studies, data, expert reports, and public input. ~ Caroline Pham, acting CFTC chair
Pham’s decision to include prediction markets in the roundtables could reignite speculation over the CFTC’s stance on the sector. Previously, former chair Rostin Behnam criticized prediction markets, declaring them harmful to public interest.
Prediction markets like Polymarket and Kalshi gained prominence toward the end of last year. These platforms, which allow users to wager on real-world outcomes, became popular sources of electoral data, accurately predicting the winner of the general elections and several other races.
The CFTC previously sued Kalshi to halt its political betting contracts, initially winning in court. However, Kalshi eventually secured court approval to list its presidential outcome markets for U.S. customers. Notably, Polymarket remained unavailable to American users at the time of publication.
The roundtable discussions will occur over several months to align agency mandate with industry development, Pham said in her CFTC-issued statement.
Pham was selected to head the regulatory by President Donald Trump last week as part of the first official steps to overhaul anti-crypto sentiment entrenched in U.S. market watchdogs.
While she is acting chair, Behnam will formally leave the commission on Feb. 7. Trump’s preferred nominee to succeed Behnam has not yet been announced, and it is unclear how long Pham will serve as acting chair.
@ Newshounds News™
Source: Crypto News
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Seeds of Wisdom RV and Economic Updates Monday Evening 1-27-25
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DEEPSEEK AI DEBUT SPARKS CRYPTO MARKET SELL-OFF AMID RISING TECH COMPETITION
The release of DeepSeek, a Chinese artificial intelligence (AI) model designed to rival OpenAI's ChatGPT, triggered a sell-off in U.S. tech stocks, bringing crypto down too. But analysts say cheaper AI may actually be good news for the space.
This advanced model is reportedly faster and cheaper than its American counterpart, offering features such as natural language processing and integration capabilities that position it as a direct competitor in the global AI arms race.
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DEEPSEEK AI DEBUT SPARKS CRYPTO MARKET SELL-OFF AMID RISING TECH COMPETITION
The release of DeepSeek, a Chinese artificial intelligence (AI) model designed to rival OpenAI's ChatGPT, triggered a sell-off in U.S. tech stocks, bringing crypto down too. But analysts say cheaper AI may actually be good news for the space.
This advanced model is reportedly faster and cheaper than its American counterpart, offering features such as natural language processing and integration capabilities that position it as a direct competitor in the global AI arms race.
Cheaper AI models benefit both crypto and broader AI consumers by lowering the cost barrier to access advanced AI tools.
Over the past 24 hours, Bitcoin (BTC) fell by 4% to $100,000, while Ethereum (ETH) dropped by 6% to $3,100. Meanwhile, the total market capitalization of cryptocurrencies fell by 8%, dropping to $3.52 trillion, according to CoinGecko. Liquidations over the past 24 hours totaled nearly $1 billion, according to CoinGlass.
Knee-Jerk
The debut of DeepSeek, coupled with intensifying competition in the AI sector, is reshaping investor sentiment across both tech stocks and the cryptocurrency market. Investors are selling riskier assets as they take time to digest this new information and how it might affect their holdings.
Jean Rausis, co-founder of decentralized finance ecosystem SmarDex, noted that the drop in crypto prices is more of a knee-jerk reaction to tech news rather than a direct consequence of the DeepSeek release itself.
“Because crypto trades 24/7, it’s often the go-to when big tech news breaks and the US market is closed – even if it has nothing to do with Bitcoin or other cryptocurrencies,” Rausis said.
Crypto’s strong correlation with the Nasdaq underscores its position within the same investment category as tech stocks, Rausis added, explaining that both markets often respond similarly to major news due to shared investor sentiment and overlapping liquidity sources.
“Investors in crypto share the same mindset as tech stockholders, and the liquidity sources are often the same, so they often move in tandem when big tech news breaks,” he said. “It doesn’t really have anything to do with fundamentals – just sentiment.”
Long-Term Positive
Despite the initial panic, Rausis believes competition in AI is ultimately positive for consumers and aligns with crypto’s ethos of decentralization. “For traders, this volatility could just be an opportunity to buy in at a lower price,” he said.
Anthony Pompliano, Founder & CEO of Professional Capital Management, echoed Rausis’ sentiment in a post on X this morning. He said that while DeepSeek’s launch sparked uncertainty and volatility in the market, broader access to AI should be long-term positive.
“More companies are able to leverage the technology to create economic activity and drive GDP growth,” Pompliano wrote. “Individuals should be able to save time and become more effective at their jobs. And more problems will be solved. So Deepseek’s innovation will drive more use of AI, rather than less. This is all positive on a macro basis.”
Fake DeepSeek Token
Amid the market drop, a fraudulent token claiming ties to DeepSeek briefly surged to a $48 million market cap on Solana, only to plunge to $6 million, according to Bird Eye. Created weeks before DeepSeek’s release, the token exploited the hype surrounding the AI model.
“DeepSeek has not issued any cryptocurrency,” the team stated, clarifying that it operates only one verified X account.
@ Newshounds News™
Source: The Defiant
~~~~~~~~~
BRICS TO INTRODUCE BITCOIN RESERVE? US EXPERT SAYS ITS POSSIBLE
Both the BRICS alliance and the United States have been engaged in some brewing geopolitical conflict over the last month. With US President Donald Trump eyeing a steep 100% tariff threat, all eyes are on what the bloc could do. Moreover, with both sides looking to continue their growth in the digital asset class, one expert says BRICS could be set to introduce its own Bitcoin reserve.
The news follows the announcement that the US would be introducing its own cryptocurrency stockpile. Although it is not the strategic BTC reserve many had hoped, it still will see the country firmly embrace the asset class. In response, one expert notes that the global south could turn to the leading cryptocurrency by market cap.
BRICS Bitcoin Reserve a Possibility as Nations Begin Cryptocurrency Embrace
The United States has firmly embraced cryptocurrencies since Donald Trump was inaugurated last week. Indeed, he has already ordered the asset to become a “national priority.” Meanwhile, speaking at the World Economic Forum, he claimed the country would soon become the “world capital” of AI and crypto.
That has led many to theorize what the rest of the world could do. Specifically, a host of nations are seeking to also implement similar action. Chief among them is the BRICS alliance, which one expert says could turn to create its own Bitcoin reserve.
US Space Force officer Jason P. Lowery recently took to X (formerly Twitter) to discuss the prospects. Specifically, he discussed the economic alliance’s prospects for its own cryptocurrency initiatives. However, he noted one token remained key.
“Do you really think BRICS is interested in adding a meme coin to their reserves, or one controlled by an American CEO?” Lowery said of crypto options like XRP. “Do you believe they’d choose a USD stablecoin issued by an American company trying to position itself as a neo-Federal Reserve Bank?” he further questioned.
“Or are they far more likely to adopt the coin that has been relentlessly vilified and condemned by the US for over 15 years?” he added. “That coin guarantees covering access to block space, ensuring transactions cannot be censored or denied, provided they continue to possess the physical power and infrastructure ‘they’ve already invested in."
This echoes similar sentiments made by Russian President Vladimir Putin himself. The leader applauded Bitcoin. Moreover, he noted that it is an asset that cannot be controlled. As the bloc has struggled against sanctions and US dollar weaponization, this seems increasingly important.
@ Newshounds News™
Source: Wattcher Guru
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Seeds of Wisdom RV and Economic Updates Monday Afternoon 1-27-25
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RIPPLE SECURES LICENSES IN NEW YORK AND TEXAS, EXPANDING U.S. FOOTPRINT
In a latest development, Ripple has obtained Money Transmitter Licenses (MTLs) in New York and Texas, further expanding its presence in the U.S.
These licenses enable Ripple to offer compliant cross-border payment services, enhancing its ability to provide financial institutions and crypto businesses with faster, more efficient payment solutions. This news comes as firms are prepared for a crypto-friendly regulatory regime under President Donald Trump.
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RIPPLE SECURES LICENSES IN NEW YORK AND TEXAS, EXPANDING U.S. FOOTPRINT
In a latest development, Ripple has obtained Money Transmitter Licenses (MTLs) in New York and Texas, further expanding its presence in the U.S.
These licenses enable Ripple to offer compliant cross-border payment services, enhancing its ability to provide financial institutions and crypto businesses with faster, more efficient payment solutions. This news comes as firms are prepared for a crypto-friendly regulatory regime under President Donald Trump.
Notably, MTLs allow Ripple Payments customers to access a licensed version of its cross-border payments solution in the U.S., where transactions are managed end-to-end by Ripple on behalf of the customers.
55 Global Approvals
In addition to the two new MTLs, Ripple’s license portfolio now totals around 55 global approvals, including the prestigious New York BitLicense and a Limited Purpose Trust Company Charter.
“We’re continuing to see more interest from financial institutions to crypto businesses that want to unlock the benefits of crypto and blockchain for faster, cost-efficient and 24/7 cross-border payments,” Joanie Xie, Ripple Managing Director of North America, noted.
“With years of experience working in both crypto and with financial institutions, Ripple is well-positioned to support companies who are ready to take advantage of the current landscape.”
Its other regulatory approvals include registration as a VASP in Ireland and the Cayman Islands, and an in-principle license in Dubai. Ripple Payments has also grown its client base in North America, adding new partners like Bancoli, CambioReal, and GeoSwift in 2024, helping clients navigate the evolving financial ecosystem.
A Significant Shift Ahead?
Ripple’s recent U.S. regulatory approvals align with the Trump administration’s favorable stance on cryptocurrencies. It also noted that the U.S. industry players are optimistic about the upcoming four years, expecting a more crypto-friendly environment under President Donald Trump.
In a related move, the SEC recently repealed SAB 121, which had placed stringent conditions on banks providing digital asset custody services. This policy change is viewed as a significant step toward the broader integration of blockchain technology into traditional financial systems.
@ Newshounds News™
Source: Coinpedia
~~~~~~~~~
OKX, CRYPTO.COM SECURE FULL MICA LICENSES TO REACH 400M POTENCIAL EU USERS
While some major exchanges, including Binance, have sought alternative regions due to regulatory challenges, OKX and Crypto.com have doubled down on their commitment to Europe.
▪️OKX and Crypto.com secured full MiCA licenses, enabling seamless crypto services across 30 EEA markets for 400+ million users.
▪️OKX offers 240+ crypto tokens, 260 trading pairs, free euro deposits, and diverse trading tools like bot trading.
▪️MiCA’s harmonized framework empowers long-term crypto growth, with Europe emerging as a hub for blockchain innovation.
OKX and Crypto.com reached a major milestone on January 27 by obtaining full licenses under the European Union’s Markets in Crypto-Assets Regulation (MiCA). The Malta Financial Services Authority (MFSA) granted regulatory approval to both platforms, enhancing their operations across the European Economic Area (EEA).
The MiCA license empowers OKX and Crypto.com to provide regulated crypto services across the EEA. This is facilitated by MiCA’s “passporting” feature, which allows licensed entities to operate seamlessly in EU nations under a unified regulatory framework. Consequently, users in the region gain improved access to secure and reliable cryptocurrency services.
Expanding Services for EEA Users
OKX aims to expand its newly licensed operations by providing diverse services such as spot trading, bot trading, and over-the-counter (OTC) crypto token transactions. The platform will adapt its website and mobile app to local languages, currency options, and regional customer support, ensuring accessibility for users in specific markets.
Similarly, Crypto.com plans to deliver a variety of cryptocurrency services tailored for European users. With its license, the company seeks to maintain a seamless and compliant experience across international borders, solidifying its presence in the EU market.
Erald Ghoos, CEO of OKX Europe, highlighted the critical role of the MiCA license as a key achievement in promoting responsible leadership within the cryptocurrency industry. He noted that the Malta Financial Services Authority is globally recognized for its robust regulatory framework.
“The MiCA regulation in the EU is particularly forward thinking as it’s harmonized across the region. Through passporting, MiCA allows us to reach more than 400 million potential customers in 30 EEA markets,” said Ghoos.
MiCA Sets the Stage for Crypto Growth
OKX now provides regulated access to over 240 crypto tokens and 260 trading pairs, including 61 euro-crypto options, under MiCA-compliant operations. Users can deposit and withdraw euros for free via bank transfers or purchase cryptocurrencies using cards and reliable payment methods.
The MiCA framework enables crypto users to explore long-term investments, trading opportunities, and tools like automated bot trading. Ghoos emphasized Europe’s vast potential as a hub for blockchain and digital assets, stating that the license establishes a solid foundation for industry growth in the region.
While some major exchanges, including Binance, have sought alternative regions due to regulatory challenges, OKX and Crypto.com have doubled down on their commitment to Europe.
By embracing MiCA’s framework, the two platforms are setting a precedent for others to follow. Apart from OKX and Crypto.com, Bitpanda also secured MiCA license in Germany.
@ Newshounds News™
Source: CoinSpeaker
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Seeds of Wisdom RV and Economic Updates Monday Morning 1-27-25
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XRP LAWSUIT: EXPERT REVEALS POSSIBLE REASON BEHIND RIPPLE’S REQUESTED DEADLINE IN SEC CASE
▪️Ripple requests April 16, 2025 deadline for SEC appeal, as legal battle with the SEC continues to shape XRP’s future.
▪️SEC’s appeal could bring setbacks for Ripple, but new leadership and strong legal defense may change the game.
The legal battle between Ripple and the SEC continues to be one of the most closely watched in the crypto world. Recently, Ripple requested a deadline of April 16, 2025, to respond to the SEC’s appeal. This could mean a prolonged period of uncertainty for XRP, but Ripple is standing firm.
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XRP LAWSUIT: EXPERT REVEALS POSSIBLE REASON BEHIND RIPPLE’S REQUESTED DEADLINE IN SEC CASE
▪️Ripple requests April 16, 2025 deadline for SEC appeal, as legal battle with the SEC continues to shape XRP’s future.
▪️SEC’s appeal could bring setbacks for Ripple, but new leadership and strong legal defense may change the game.
The legal battle between Ripple and the SEC continues to be one of the most closely watched in the crypto world. Recently, Ripple requested a deadline of April 16, 2025, to respond to the SEC’s appeal. This could mean a prolonged period of uncertainty for XRP, but Ripple is standing firm.
The SEC recently filed its appeal, signaling that they aren’t backing down, even after Gary Gensler’s departure from the SEC. However, Ripple’s legal team remains confident. They believe the SEC’s appeal is a rehashed argument and are hopeful that a new administration might just drop the case.
Legal expert, Jeremy Hogan, has also criticized the SEC’s case, stating that they still haven’t proven that XRP buyers expected profits from Ripple’s efforts. The SEC’s case may have weak spots, but as always, this is far from over.
When former SEC lawyer Marc Fagel was asked about Ripple’s deadline on social media, the attorney replied and explained saying,
Pretty standard for lawyers to seek the maximum time allowed. Though I don’t think there’s any doubt they’re also allowing time for a new SEC leadership to resolve the case before they have to file the brief. (Which, again, is a highly unusual thing to happen but seems likely.)
Why does this matter? If the SEC wins the appeal and XRP is classified as a security, Ripple could face even more legal hurdles, which could slow down their progress and partnerships.
This would be a setback for Ripple’s expansion, especially in markets like Asia, the Middle East, and Europe. On the other hand, Ripple has already made strides in international markets, and their cross-border payment solutions remain some of the most efficient in the crypto space.
FAQs
What happens if the SEC wins the XRP lawsuit appeal?
If the SEC wins, XRP could be classified as a security, leading to more legal hurdles and potentially harming Ripple’s partnerships.
Is the lawsuit against XRP over?
No, the lawsuit is ongoing, with Ripple and the SEC engaged in appeals and responses that could take years to resolve.
What happened to XRP just now?
XRP’s value or status might have shifted due to legal updates, market reactions, or news. Stay updated for the latest developments.
@ Newshounds News™
Source: Coinpedia
~~~~~~~~~
BRICS: WHY EXPERTS SAY US DOLLAR’S GLOBAL RESERVE DAYS MAY BE NUMBERED
Amid the ongoing de-dollarization efforts embraced by the BRICS alliance, experts have begun to state that the US dollar’s days as a global reserve asset may be numbered. Although the currency is at a new record high, economists have noted things do not look as promising in the long term.
Analysts and experts have gathered at the World Economic Forum in Davos, Switzerland. It was there that US President Donald Trump, inaugurated Monday, noted the United States would be the “world capital” of both AI and crypto. Those efforts may come to fruition, but the nation is clearly losing ground regarding its greenback as the world’s currency.
US Dollar Dominance Coming to an End? Why Economists Aren’t Keen on Its Long-Term Outlook
The geopolitical tensions over the US dollar have reached a fever pitch in recent years. The BRICS alliance has continued to seek ways to promote local currencies in trade.
That has only drawn the ire of US President Donald Trump. In retaliation, he has threatened the presence of 100% tariffs and even discussed the creation of an external revenue service.
Yet, those tensions are separate from how experts perceive the global reserve currency. Although it has been the world’s currency since post-World War II, nothing stays the same forever. Now, amid BRICS and other regions’ actions against it, economists warn that the US dollar’s days as a global reserve currency are numbered.
In a recent session at the World Economic Forum called ‘State of Play: US Dollar,’ a panel of experts discussed the greenback. Although they note it will remain the global reserve in the coming years, that will undoubtedly change. Specifically, due to the “exorbitant privilege” that it holds, according to Harvard economist Kenneth Rogoff.
“Both parties in the United States seem to think that debt is a free lunch,” he said. Additionally, he noted that interest payments on federal debt have officially surpassed the entire US defense budget. Yet, the currency still stands at a record high, reaching levels not seen since the mid-1980s or early 2000s.
The panel notes that it is bound to fall; the question is, how hard? Economic analysts from the World Forum note that “extreme fragmentation of the financial system could decrease global GDP by roughly 5%—more than the setbacks caused by the 2008 financial crisis.”
They ultimately believe a multipolar system will replace US dominance. Yet, the hope is that the change can come gradually and not suddenly.
@ Newshounds News™
Source: Watcher Guru
~~~~~~~~~
FED STICKS TO RATES AS INFLATION PERSISTS AND TRUMP’S POLICIES LOOM LARGE
▪️The Fed is likely to maintain interest rates during its upcoming announcement.
▪️Persistent inflation and labor market recovery are key factors in the Fed's decision.
▪️Trump's policies add complexity to the Fed's inflation outlook and decision-making
The Federal Reserve (Fed) is expected to announce its interest rate decision on Wednesday at 22:00 Turkish time, maintaining the policy rate in the 4.25-4.50% range. Market experts predict that the Fed will insist on keeping rates stable as it awaits clearer signals regarding the declining trend in inflation.
According to CME Group’s FedWatch data, the likelihood of no change in rates stands at over 99%. If this expectation holds true, it will mark the first “pause” in rate adjustments since September 2024.
@ Newshounds News™
Read more: Coin Turk
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Seeds of Wisdom RV and Economic Updates Sunday Afternoon 1-26-25
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SEC REVOKES CRYPTO ACCOUNTING RULE FOLLOWING PRESIDENTIAL TRANSITION
While crypto advocates cheer the SEC’s decision, skeptics like Jacob King warn that the industry’s shift toward bank custody contradicts Bitcoin’s original vision of decentralization.
▪️In a dramatic policy shift, the SEC has revoked a crypto regulation that once shackled banks and custodians, marking a fresh start under the new administration.
▪️The controversial rule, introduced in 2022, had drawn fierce criticism from industry leaders who saw it as an unnecessary hurdle for financial institutions dealing with digital assets.
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SEC REVOKES CRYPTO ACCOUNTING RULE FOLLOWING PRESIDENTIAL TRANSITION
While crypto advocates cheer the SEC’s decision, skeptics like Jacob King warn that the industry’s shift toward bank custody contradicts Bitcoin’s original vision of decentralization.
▪️In a dramatic policy shift, the SEC has revoked a crypto regulation that once shackled banks and custodians, marking a fresh start under the new administration.
▪️The controversial rule, introduced in 2022, had drawn fierce criticism from industry leaders who saw it as an unnecessary hurdle for financial institutions dealing with digital assets.
▪️Under Biden’s SEC, crypto firms found themselves entangled in legal battles, with enforcement actions reaching record highs before tapering off in the final months of Gensler’s tenure.
In a significant policy reversal, the United States Securities and Exchange Commission (SEC) has rescinded Staff Accounting Bulletin No. 121 (SAB 121), a controversial accounting guideline that mandated companies holding digital assets for clients to record these holdings as liabilities on their balance sheets.
The revocation came shortly after President Donald Trump’s inauguration, signaling a shift in the regulatory approach toward the emerging economy.
Background and Industry Reaction
Enacted during President Joe Biden’s administration in March 2022, SAB 121 aimed to enhance transparency and risk management in the burgeoning crypto sector. However, industry stakeholders criticized the rule for imposing burdensome reporting requirements, complicating the custody of digital assets, and increasing compliance costs.
The banking sector also expressed concerns, noting that the rule hindered their ability to serve as secure custodians for digital assets.
The recent revocation has been met with approval from crypto advocates. SEC Commissioner Hester Peirce, known for her pro-crypto stance, celebrated the decision by posting on X (formerly Twitter):
“Bye, bye SAB 121! It’s not been fun.”
Criticism from Outside the Crypto Industry
Despite the positive reception within the crypto community, the repeal has faced criticism from some financial analysts. Jacob King, CEO of WhaleWire, claims the crypto advocates are wrong for believing the revocation would allow banks to custody Bitcoin BTC for customers.
In response, Carl Horton countered the tweet, noting that many still want loans using their BTC as collateral:
“Some people, like children and the elderly, need custodians. Others want smooth inheritance transfers and others want loans using their BTC in custody as collateral. BTC is freedom money and you can interact with it any way you want.”
Previous SEC Actions Against the Crypto Industry
Meanwhile, under the leadership of former SEC Chair Gary Gensler during the Biden administration, the SEC adopted a stringent regulatory stance toward the cryptocurrency sector.
The agency initiated numerous enforcement actions against crypto companies, alleging violations such as fraud and unregistered securities offerings.
While these measures were intended to protect investors and maintain market integrity, critics argued that the aggressive approach stifled innovation and created an uncertain regulatory environment.
A report by Cornerstone Research highlighted that the SEC’s crypto-related enforcement actions declined by 30% in Gensler’s final year, with 33 actions initiated compared to 47 the previous year.
Despite the decrease, monetary penalties reached a record high, underscoring the agency’s continued focus on regulating the crypto industry.
The recent policy changes, including the revocation of SAB 121 and the establishment of a crypto task force under the new administration, suggest a potential shift toward a more balanced regulatory framework that fosters innovation while ensuring investor protection.
@ Newshounds News™
Source: CoinSpeaker
~~~~~~~~~
EUROPEAN CENTRAL BANK PUSHING FOR DIGITAL EURO TO COUNTER TRUMP’S SUPPORT FOR STABLECOINS: REPORT
The European Union’s central bank is reportedly pushing for a digital euro to counter US President Donald Trump’s embrace of dollar-pegged private sector stablecoins.
European Central Bank (ECB) board member Piero Cipollone said at a conference on Friday that Trump’s new executive order on crypto could drive people away from banks, Reuters reports.
“I guess the key word here (in Trump’s executive order) is worldwide. This solution, you all know, further disintermediates banks as they lose fees, they lose clients… That’s why we need a digital euro.”
Earlier this week, President Donald Trump signed an executive order to evaluate the creation of a strategic national Bitcoin (BTC) and crypto stockpile.
The order also calls for the government to “promote the development and growth of lawful and legitimate” dollar-pegged stablecoins created in the private sector.
It further mandates that federal agencies halt any actions related to the development of a government-backed digital version of the dollar, otherwise known as a central bank digital currency (CBDC).
The administration’s new leadership at the U.S. Securities and Exchange Commission (SEC) also rescinded Staff Accounting Bulletin 121, a controversial rule that forced banks to identify crypto assets held on behalf of their customers as liabilities on their balance sheets.
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Source: DailyHodl
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CRYPTO ADVOCATES FOCUS ON CONGRESS AS GOP TAKES CONTROL OF US GOV'T
The Republican Party now has total control over the United States Senate, the Executive Branch, and the House of Representatives.
Following the re-election of President Donald Trump in the United States, crypto advocacy groups have shifted their focus to key players in both chambers of Congress, which advocacy groups have characterized as the most pro-crypto Congress in history.
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CRYPTO ADVOCATES FOCUS ON CONGRESS AS GOP TAKES CONTROL OF US GOV'T
The Republican Party now has total control over the United States Senate, the Executive Branch, and the House of Representatives.
Following the re-election of President Donald Trump in the United States, crypto advocacy groups have shifted their focus to key players in both chambers of Congress, which advocacy groups have characterized as the most pro-crypto Congress in history.
Ron Hammond, the senior director of government relations at the Blockchain Association, told Cointelegraph editor Jesse Coghlan that the Senate Banking Committee and the House Financial Services Committee will play pivotal roles in shaping pro-crypto policies.
Congressman French Hill was selected as chairman of the House Financial Services Committee in December 2024 and is highly critical of the regulatory approach under the previous administration.
Following the appointment, Hill said introducing a crypto market structure bill within the first 100 days of the legislative session was a priority for the GOP leadership.
On January 24, the House Committee on Oversight and Government Reform launched an investigation into Operation Chokepoint 2.0 and sent letters to crypto industry leaders and advocacy groups requesting input.
The Senate Banking Committee
Senator Tim Scott, chairman of the Senate Banking Committee, is pro-crypto and promised sweeping regulatory reform for digital assets prior to the 2024 United States elections.
Speaking to an audience at the Bitcoin 2024 conference, Scott said the former leadership at the Securities and Exchange Commission (SEC) was preventing pro-crypto policies and promised change to US voters.
“We have to get rid of the folks who are in the way,” Scott told pro-Bitcoin voters in the Summer of 2024. Scott also promised Bitcoin voters:
“The one thing I will absolutely guarantee will be done is watching your legislation get a vote, pass the Banking Committee, and we’re going to fight to make it a law in the United States of America.”
Following Scott's pronouncement, Republicans won an electoral sweep in November 2024, securing both chambers of Congress, the Presidential election, and the popular vote.
Senator Lummis appointed chair of the Senate Banking Subcommittee on Digital Assets Wyoming Senator Cynthia Lummis was appointed by Scott to chair the Senate Banking Subcommittee on Digital Assets in January 2025.
Lummis said the primary goals of the subcommittee included passing comprehensive digital asset legislation and preventing overreach by government regulatory agencies.
The Senator added that legislative initiatives would include a comprehensive market structure bill, stablecoin regulations, and provisions for a Bitcoin strategic reserve.
Challenges and looking ahead
Stand With Crypto, a crypto advocacy and voter education group, told Cointelegraph that the current Congress has a "mandate" to pass comprehensive crypto regulatory reform. The group said:
"The 52 million crypto users and innovators across America elected a historic pro-crypto Congress in 2024 — sending 278 pro-crypto candidates to the House of Representatives and 20 to the Senate."
Despite this, challenges remain, as crypto regulations may take a backseat to more pressing political issues or pushback from anti-crypto politicians.
Industry executives and the crypto community have accused Democrats of being anti-crypto and stifling the regulatory process.
Some of crypto's most vocal political opponents include Democrat Senators Elizabeth Warren, Dick Durbin, and California Rep. Brad Sherman — all of whom are still in office after being re-elected in 2024.
Joe Doll, the general counsel for NFT marketplace Magic Eden, also told Cointelegraph that Republicans likely have only two years to pass crypto legislation before midterm elections take place.
Historically speaking, midterm elections tend to see the political pendulum swing the other way and change the balance of power in Congress, Doll said.
The attorney said that Republicans already have a slim majority in the US House of Representatives, which has narrowed to only three seats since Doll spoke to Cointelegraph in December 2024.
According to Doll, a gridlocked government would impede the passage of pro-crypto legislation in the United States.
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Source: CoinTelegraph
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SEC REVOKES CRYPTO ACCOUNTING RULE FOLLOWING PRESIDENTIAL TRANSITION
While crypto advocates cheer the SEC’s decision, skeptics like Jacob King warn that the industry’s shift toward bank custody contradicts Bitcoin’s original vision of decentralization.
▪️In a dramatic policy shift, the SEC has revoked a crypto regulation that once shackled banks and custodians, marking a fresh start under the new administration.
▪️The controversial rule, introduced in 2022, had drawn fierce criticism from industry leaders who saw it as an unnecessary hurdle for financial institutions dealing with digital assets.
▪️Under Biden’s SEC, crypto firms found themselves entangled in legal battles, with enforcement actions reaching record highs before tapering off in the final months of Gensler’s tenure.
In a significant policy reversal, the United States Securities and Exchange Commission (SEC) has rescinded Staff Accounting Bulletin No. 121 (SAB 121), a controversial accounting guideline that mandated companies holding digital assets for clients to record these holdings as liabilities on their balance sheets.
The revocation came shortly after President Donald Trump’s inauguration, signaling a shift in the regulatory approach toward the emerging economy.
Background and Industry Reaction
Enacted during President Joe Biden’s administration in March 2022, SAB 121 aimed to enhance transparency and risk management in the burgeoning crypto sector.
However, industry stakeholders criticized the rule for imposing burdensome reporting requirements, complicating the custody of digital assets, and increasing compliance costs.
The banking sector also expressed concerns, noting that the rule hindered their ability to serve as secure custodians for digital assets.
The recent revocation has been met with approval from crypto advocates. SEC Commissioner Hester Peirce, known for her pro-crypto stance, celebrated the decision by posting on X (formerly Twitter):
“Bye, bye SAB 121! It’s not been fun.”
Criticism from Outside the Crypto Industry
Despite the positive reception within the crypto community, the repeal has faced criticism from some financial analysts. Jacob King, CEO of WhaleWire, claims the crypto advocates are wrong for believing the revocation would allow banks to custody Bitcoin BTC for customers.
In response, Carl Horton countered the tweet, noting that many still want loans using their BTC as collateral:
“Some people, like children and the elderly, need custodians. Others want smooth inheritance transfers and others want loans using their BTC in custody as collateral. BTC is freedom money and you can interact with it any way you want.”
Previous SEC Actions Against the Crypto Industry
Meanwhile, under the leadership of former SEC Chair Gary Gensler during the Biden administration, the SEC adopted a stringent regulatory stance toward the cryptocurrency sector.
The agency initiated numerous enforcement actions against crypto companies, alleging violations such as fraud and unregistered securities offerings. While these measures were intended to protect investors and maintain market integrity, critics argued that the aggressive approach stifled innovation and created an uncertain regulatory environment.
A report by Cornerstone Research highlighted that the SEC’s crypto-related enforcement actions declined by 30% in Gensler’s final year, with 33 actions initiated compared to 47 the previous year.
Despite the decrease, monetary penalties reached a record high, underscoring the agency’s continued focus on regulating the crypto industry.
The recent policy changes, including the revocation of SAB 121 and the establishment of a crypto task force under the new administration, suggest a potential shift toward a more balanced regulatory framework that fosters innovation while ensuring investor protection.
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Source: CoinSpeaker
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COMER INVESTIGATES APPARENT POLITICALLY MOTIVATED DEBANKING OF THIRTY TECH FOUNDERS, FIRST LADY MELANIA TRUMP
WASHINGTON—House Committee on Oversight and Government Reform Chairman James Comer (R-Ky.) is investigating recent reports of financial institutions debanking lawful American businesses and individuals based on political affiliation or involvement in industries viewed unfavorably by the Biden Administration.
On a recent episode of “The Joe Rogan Experience,” renowned tech investor and entrepreneur, Marc Andreessen, revealed thirty tech founders who were debanked over the last four years — describing the debanking as pressure against “political enemies” and “disfavored tech startups.”
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COMER INVESTIGATES APPARENT POLITICALLY MOTIVATED DEBANKING OF THIRTY TECH FOUNDERS, FIRST LADY MELANIA TRUMP
WASHINGTON—House Committee on Oversight and Government Reform Chairman James Comer (R-Ky.) is investigating recent reports of financial institutions debanking lawful American businesses and individuals based on political affiliation or involvement in industries viewed unfavorably by the Biden Administration.
On a recent episode of “The Joe Rogan Experience,” renowned tech investor and entrepreneur, Marc Andreessen, revealed thirty tech founders who were debanked over the last four years — describing the debanking as pressure against “political enemies” and “disfavored tech startups.”
Chairman Comer is asking Mr. Andreessen, as well as five additional tech leaders who have spoken publicly about debanking, to share their stories with the Oversight Committee and shed light on why debanking occurs and how it affects business operations.
“Several tech leaders within the cryptocurrency space have been outspoken about their experience being debanked. In 2022, Uniswap Labs Founder and CEO Hayden Adams explained that his bank ‘closed my bank accounts with no notice or explanation,’ and that ‘I know many individuals and companies who have been similarly targeted simply for working in the crypto industry.’
Coinbase Co-Founder and CEO Brian Armstrong confirmed thirty tech founders were debanked, stating then-Securities and Exchange Commission (SEC) Chair Gary Gensler, ‘tried to unlawfully kill our entire industry[.]’
Coinbase’s Chief Legal Officer, Paul Grewal, said, ‘[f]inancial regulators have used multiple tools at their disposal to try to cripple the digital-asset industry,’” wrote Chairman Comer.
The Oversight Committee is also investigating whether these debanking practices originated from activists within each financial institution or from undue outside pressure.
In May 2014, the Oversight Committee released a staff report exposing the Obama Administration’s efforts to politically force companies the Administration viewed as unfavorable out of the banking system.
Considering the public statements of prominent tech leaders and recent evidence that Melania Trump and Barron Trump were also debanked for their political ties, the Oversight Committee is looking into how the Obama Administration’s overreach may have laid a foundation for the Biden Administration to institute similar tactics.
“These examples are startling, and the Committee is investigating whether this debanking practice originates from the financial institutions themselves or from either implicit or explicit pressure from government regulators,” continued Chairman Comer.
“The Committee is interested in engaging individuals who have been debanked and, specifically, how these actions hurt innovation, entrepreneurs, and workers. Further, to better inform the Committee’s investigation, the Committee seeks to understand the financial institutions and regulators involved, the reasons tech founders were given as to why they were debanked, and how this overreach affected business operations.”
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Source: House Oversight Committee
Read the letter here: House Oversight - Letter
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TRUMP PLANS ZERO CAPITAL GAINS TAX FOR US CRYPTO PROJECTS – HERE ARE THE BENEFITS!
▪️The Trump administration is considering a zero capital gains tax for US-based cryptocurrency projects, potentially making them more attractive to investors.
▪️Non-US crypto projects may face a 30% capital gains tax, creating a clear tax advantage for US-based ventures.
▪️The policy could significantly boost US crypto innovation, making the country a key player in the global blockchain industry.
The United States is preparing to introduce a significant tax relief policy aimed at boosting crypto innovation and attracting investment. Eric Trump, son of President Donald Trump information recently suggested that the Trump administration might introduce a zero capital gains tax policy specifically for cryptocurrency projects.
But will this policy benefit only US-based projects, or will non-US ventures also see relief?
Zero Capital Gains Tax for US Crypto Projects
Reports indicate that US-based crypto projects, including popular ones like XRP and HBAR, will benefit from the zero capital gains tax policy. This announcement has stirred excitement in the crypto industry, with many believing that the policy could make US-based projects even more appealing to investors and developers.
Non-US Projects Left Behind
However, the policy is unlikely to offer any relief to non-US crypto projects. Eric Trump stated that these projects would be subject to a 30% capital gains tax. This creates a clear tax divide between US-based and non-US ventures, raising concerns about the potential impact on global crypto competition.
US-based Crypto Projects: An Overview
Experts believe the sharp difference in tax rates is designed to give US projects a competitive edge while encouraging crypto companies to establish operations within the United States. The total market cap of US-linked cryptocurrencies now stands at $550 billion, with a 24-hour trading volume of $37.47 billion
The “Made in USA” category includes cryptocurrencies with strong ties to the United States. The top ten cryptos in this category by market cap are XRP, Solana, USDC, Cardano, Chainlink, Avalanche, Stellar, Hedera, Sui, and Polkadot.
Positive Trends for US-Based Cryptos
Over the past 30 days, most of the top ten cryptos in this category have shown strong growth. XRP has risen by 42%, Solana by 31.7%, and Cardano by 12.3%. Chainlink, Stellar, and Hedera have also experienced positive movements. However, not all US-based cryptos have performed equally well—Avalanche, Sui, and Polkadot saw declines during this period.
Conclusion
The Trump administration’s proposed crypto tax relief policy could be a game-changer for the industry. If implemented, it could create a favorable environment for US-based crypto projects, while potentially challenging non-US players.
The coming months will determine whether this tax relief can turn the US into the ultimate destination for crypto innovation.
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Read more: Coinpedia
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MUSK EXPLORING BLOCKCHAIN USE TO CURB US GOVERNMENT SPENDING: REPORT
Elon Musk has previously stated that he wants to cut $1 trillion to $6.5 trillion in annual federal spending to help balance the budget.
Elon Musk, the head of the Department of Government Efficiency (DOGE), is reportedly exploring implementations of blockchain technology in US government operations to track and reduce federal spending.
According to Bloomberg, the DOGE is also looking at using blockchain to secure data, make payments, and manage buildings as part of the DOGE's efficiency push.
Personnel from the newly commissioned non-government department have also met with representatives from public permissionless blockchain networks to consult about potential use by the US government.
The initiative is part of Musk's broader goal of eliminating trillions of dollars from the annual federal budget and ensuring government accountability through transparency.
Blockchain to force government transparency?
Musk's push to use blockchain technology to force government transparency is not a new idea in US politics.
In April 2024, former Presidential candidate Robert F. Kennedy Jr. said he wanted to put the entire federal budget onchain. The politician told an audience at a Michigan rally:
“Every American can look at every budget item in the entire budget, anytime they want, 24 hours a day. We are going to have 300 million eyeballs on our budget. If somebody is spending $16,000 for a toilet seat, everybody will know about it.”
Kennedy's proposal was met with widespread support from small government and sound money advocates, who argued that US government spending was out of control.
Department of Government Efficiency takes first steps
The Department of Government Efficiency launched its website on Jan. 21 and officially adopted the DOGE logo used by the world's first memecoin, Dogecoin.
Following the website's launch, the price of Dogecoin rallied by approximately 11% to $0.38.
On Jan. 20, former Presidential candidate, entrepreneur, and DOGE co-founder Vivek Ramaswamy announced he was stepping away from the project to focus on running for governor of Ohio.
"I’m confident that Elon and his team will succeed in streamlining government," Ramaswamy wrote in an X post, hinting at his plans to run for office in an official capacity.
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Source: CoinTelegraph
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SATOSHI'S BITCOIN: RIPPLE CTO SHARES KEY XRP, BTC INSIGHT
In a recent discussion about the circulating supply of XRP, Ripple CTO David Schwartz draws parallels with Bitcoin and the coins attributed to its mysterious creator, Satoshi Nakamoto. His remarks highlighted the complexity of defining what constitutes "circulating supply" in the crypto landscape.
An X user had drawn attention to the disparity in XRP's circulating supply reported by the crypto ranking platform CoinMarketCap and popular XRP explorer XRPScan.
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SATOSHI'S BITCOIN: RIPPLE CTO SHARES KEY XRP, BTC INSIGHT
In a recent discussion about the circulating supply of XRP, Ripple CTO David Schwartz draws parallels with Bitcoin and the coins attributed to its mysterious creator, Satoshi Nakamoto. His remarks highlighted the complexity of defining what constitutes "circulating supply" in the crypto landscape.
An X user had drawn attention to the disparity in XRP's circulating supply reported by the crypto ranking platform CoinMarketCap and popular XRP explorer XRPScan.
CoinMarketCap reports XRP's current circulating supply as 57.64 billion XRP, while according to a screenshot shared by the X user, XRPScan reported 62.23 billion XRP.
Addressing this speculation, Schwartz explained, "How you measure circulating supply depends on what you consider to be circulating and what you don’t consider to be circulating." He continued, "For a Bitcoin analogy, are Satoshi’s bitcoins circulating? Reasonable people can even disagree on which bitcoins are Satoshi’s."
Satoshi owned Bitcoin in spotlight
The analogy made by the Ripple CTO is particularly relevant given that Satoshi Nakamoto is believed to own over 1 million BTC, which have remained untouched since Bitcoin’s early days.
While these coins technically exist on the blockchain, many in the crypto community believe they are essentially out of circulation due to their inactivity.
According to CoinMarketCap, Bitcoin's total and circulating supply is presently 19.81 million BTC, with a maximum supply of 21 million BTC. Ripple's XRP holdings are divided into two categories: XRP that is currently available in its wallets, and XRP subject to on-ledger escrow lockups that will be released monthly over the next 42 months.
For this latter category, Ripple does not have access to this XRP until the escrow releases it to them monthly. Every month, the remaining XRP released is returned to the escrow account.
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Source: U Today
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BRICS: IS THE ALLIANCE COMMON CURRENCY PLAN OFFICIALLY OVER?
For the last several months, the BRICS economic alliance has drawn the ire of the United States due to its plan to create a common currency. Indeed, newly elected president Donald Trump has threatened 100% tariffs on nations within the bloc that are seeking to ditch the US dollar.
However, recent months have seen the bloc speak up about the plan and its place in the group’s operations. Those statements have started to place doubt on whether the initiative is even moving forward with the collective. So, is the BRICS Common Currency Plan officially over? Here’s what the alliance has said.
BRICS Speaks on Common Currency Plan: Is It Moving Forward?
For much of the last two years, the BRICS alliance has sought to engage in widespread de-dollarization efforts. With increased sanctions coming from the West, the bloc has sought to lessen its reliance on the currency and promote its own local alternatives within trade. Specifically, this took place through the creation of their own BRICS Pay system that has made major strides since 2024.
Somewhere along the line, the alliance discussed the creation of its own currency to rival the dollar. That seemed to be the final straw, as it drove increased opposition from the West.
With 100% tariff threats being shared, the BRICS common currency plan may have been ceased by the bloc. At least, that is how it seems based on recent statements.
Firstly, officials from South Africa quickly dispelled rumors of an imminent BRICS currency. They noted, according to a recent report, that their focus remained on increasing trade with local currencies. Additionally, they noted that such action only increased the financial stability of the alliance itself.
Finance Minister Enoch Godongwana emphasized that back in September, he noted that the bloc has yet to decide on the implementation of a digital currency that would be created under the umbrella of the BRICS alliance.
However, the Department of International Relations and Cooperation clarified the purpose of this was not “de-dollarization.” Instead, on strengthening banking network and alliance infrastructure
Finally, India has also spoken out about the process. Reserve Bank of India Governor Shaktikanta Das noted that the currency plan remained nothing more than an idea presented by a single member.
“BRICS Currency was an idea raised by one of the members and was discussed, but no decision has been made,” Das noted. It is likely Russia was behind the idea. The pressure of ongoing sanctions has had Moscow leading the bloc’s de-dollarization charge for much of the last year.
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Source: Watcher Guru
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