Seeds of Wisdom RV and Economic Updates Monday Evening 5-5-25

Good evening Dinar Recaps,

KEY CRYPTO EVENTS YOU CAN’T MISS THIS WEEK: WILL BTC DIP?

This week is packed with key events that could have an impact on the crypto sector. Don’t miss out—here’s what you need to know.

May 7 – Fed Interest Rate Decision, Ether’s Pectra upgrade

All eyes are on the Fed’s interest rate decision, which would affect the market sentiment across the financial and crypto sector.

The Fed is expected to keep the interest rates unchanged at 4.25–4.5%. While inflation could push the Fed to keep rates steady, President Trump’s push for a rate cut could influence the decision.

Trump, in a recent post, pointed to strong jobs data and falling prices as reasons for a rate cut. He also credited his tariff policy for bringing in billions.

All Eyes on Fed Chair’s Comments

However, there’s something more important than the rate decision itself that investors and analysts will be watching closely: What the Fed Chair has to say. Specifically, any comments on U.S. tariff policies are highly expected from Powell.

In its last meeting, it noted steady economic growth, low unemployment, and a strong job market. However, inflation remained high, and uncertainty had also increased. Bitcoin dropped slightly after the last Fed rate update, falling from over $84,000 to around $83,500.

The Fed has five meetings remaining on its 2025 calendar. On the same day, Ethereum’s Pectra upgrade is all set to go live, which will impact Ether’s price. It includes 11 improvements, mainly focused on making wallet use and recovery easier, and raising the maximum stake for one node from 32 ETH to 2048 ETH.

May 8 – US Initial Jobless Claims

The US initial jobless claims will provide fresh insights into the labor and market health. The report shows how the US job market is performing. Fewer jobless claims would mean that the economy is strong, while more claims would indicate the economy is weak.

May 13, 15 – US CPI and PPI Data

The US CPI will come in on May 13, and on May 15, the PPI report is scheduled. Both reports will be closely watched as key inflation signals by both traders and policymakers.

The Consumer Price Index (CPI) dropped by 0.1% in March, while Core CPI, which excludes food and energy, rose just 0.1%. Bitcoin had climbed slightly above $82,000 over the news.

The recent PPI report on April 11, 2025, showed a 0.4% month-over-month decline. Bitcoin rose 4%, reaching $82,500 following the data.

Bitcoin dropped below $94,000 ahead of the Fed decision. It has dropped 3% over the weekend, from $96,926 to $94,162, and could drop to $92K next.

@ Newshounds News™
Source:  Coinpedia

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BRICS ABANDONS US DOLLAR, SETTLES 65% OF TRADE IN LOCAL CURRENCIES

• Russia confirms 65% of BRICS trade is now settled in local currencies, not the US dollar.

• Only one-third of BRICS trade now uses the dollar, signaling a dramatic shift in global finance.

• The bloc is pushing for independent payment systems to insulate from US sanctions.

Russia’s Foreign Minister, Sergey Lavrov, announced that more than 65% of trade settlements among BRICS nations are now conducted in local currencies rather than the US dollar. Only about one-third of all trade payments are still made in dollars — a sharp decline that points to the greenback’s weakening grip on global trade.

“National currencies already account for more than 65% within the framework of trade among BRICS members. The dollar’s share declined to one-third against such background.” — Sergey Lavrov

BRICS: Trade Shift Toward Local Currencies

The trend reflects growing resistance to US sanctions and tariffs. Member states are choosing local currencies to protect their economies and exert greater sovereignty over financial systems.

Lavrov elaborated during a meeting in Brazil:

“The meeting of BRICS finance ministers and central banks governors was held not long ago, where tasks of forming independent payment systems were reviewed... It was assigned to proactively use national currencies in mutual trade.”

Global Impact and De-Dollarization Momentum

Many non-BRICS countries are closely watching this trend. Nations in Africa, Eastern Europe, and Asia are reportedly evaluating the potential to follow BRICS’ lead in reducing reliance on the US dollar.

If these nations shift away from the dollar for trade settlements, the impact on the US economy could be severe, especially if the US government fails to keep the dollar central to global trade.

@ Newshounds News™
Source:  Watcher Guru

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Will U.S. Basel III Unleash Gold? BIS' New Reset Plan

Will U.S. Basel III Unleash Gold? BIS' New Reset Plan

Daniela Carbone:  5-5-2025

We could see a reset of some type that changes the whole system,” warns David Morgan, publisher of The Morgan Report. In an interview with Daniela Cambone, Morgan discusses the looming failure of the debt-based fiat monetary system, which he believes will ultimately lead to a financial crisis.

“We are not where the market says we are… the financial system has been illogical for a very long time.” He adds that we’re now in a “brisk walk” phase of gold accumulation, with central banks buying gold “hand over fist” as the public slowly begins to catch on.

 Meanwhile, “Silver is the Achilles heel of the entire financial system,” he says, indicating the metal’s disruptive potential to the current fiat structure.

 Key Facts:

 Silver is the Achilles heel of the entire financial system.

The run to gold has begun.

 Monetary reset is coming.

 The BIS has a plan for a new monetary system.

Chapters:

 00:00 Gold run has begun

05:29 Silver’s potential

07:54 Fiat currency

 09:46 Debt market

11:39 New financial system

12:22 Monetary reset

 13:35 Lower U.S. dollar

14:37 Strength of euro

 16:09 Gold bull market

16:16 Concluding words

https://www.youtube.com/watch?v=luHPPH2IaK8

U.S. Basel III Deadline Approaches as Central Banks Brace for Gold

U.S. Basel III Deadline Approaches as Central Banks Brace for Gold

Taylor Kenny:  5-4-2025

Basel III, gold, and the decline of the U.S. dollar—in this video, Taylor Kenney explains how global banking rules are quietly repositioning gold from a commodity to tier one money.

The world of finance and banking is undergoing a significant shift, with the new Basel III regulations repositioning gold from a commodity to tier one money.

This change, largely overlooked by main stream media, has profound implications for the global financial system, inflation, and the future of U.S. monetary dominance.

Taylor Kenney of ITM Trading explains that Basel III, an international framework for bank regulations, is driving this change.

The new rules require banks to hold more capital in the form of liquid assets, such as gold, to ensure financial stability in the face of potential crises.

This change has prompted central banks worldwide to stockpile physical gold, recognizing its enduring value and its role as a safe haven during economic turbulence.

The reclassification of gold as a tier one asset under Basel III signifies a return to its historical role as a reserve asset. Gold’s unique characteristics, including its scarcity, divisibility, and universal acceptance, make it an ideal store of value. Moreover, unlike fiat currencies, gold is not subject to counterparty risk, making it an attractive option for central banks seeking to bolster their reserves.

The shift towards gold as a reserve asset exposes the weaknesses in the current financial system. The U.S. dollar’s status as the world’s primary reserve currency has long been a cornerstone of U.S. economic power. However, the growing recognition of gold’s value and the increasing debt levels of the U.S. government have raised questions about the long-term viability of the dollar’s dominance.

Furthermore, the new regulations could have significant implications for global markets and inflation. As central banks accumulate more gold, demand for the precious metal is likely to increase, driving up its price. This, in turn, could lead to inflationary pressures, as the cost of goods and services linked to gold, such as jewelry and electronics, rises.

Additionally, the shift towards gold as a reserve asset could lead to a rebalancing of global economic power. Countries with significant gold reserves, such as Russia and China, could see their influence grow, potentially challenging the U.S.’s monetary dominance.

In conclusion, the Basel III regulations are driving a significant shift in the global financial system, repositioning gold as a tier one asset and challenging the U.S. dollar’s status as the world’s primary reserve currency.

 This change has profound implications for global markets, inflation, and the future of U.S. monetary dominance. As central banks stockpile physical gold, investors would be wise to take note of this trend and consider its potential impact on their portfolios.

https://www.youtube.com/watch?v=nEzdg7XMbx8

Seeds of Wisdom RV and Economic Updates Monday Afternoon 5-5-25

Good Afternoon Dinar Recaps,

HOUSE REPUBLICANS RELEASE DISCUSSION DRAFT OF A BILL TO REGULATE THE CRYPTO INDUSTRY AT LARGE

▪️ The discussion draft released on Monday includes language around the U.S. SEC and CFTC’s authority.

▪️ The draft also includes requirements around disclosures and outlines how “digital commodity exchanges” would be registered.

House Republicans have unveiled a discussion draft of a bill aimed at regulating the digital asset industry, building on years of legislative groundwork.

Leading the initiative are top Republicans on the House Financial Services Committee — Reps. French Hill and Bryan Steil — in collaboration with their counterparts on the House Agriculture Committee — Reps. Glenn "GT" Thompson and Dusty Johnson. The draft was officially released on Monday.

“We made historic progress in the 118th Congress to build bipartisan, bicameral consensus in crafting a functional regulatory framework for digital assets,” said Rep. Hill in a statement.

“Our discussion draft builds upon that work and provides much-needed regulatory clarity for the digital asset ecosystem by protecting consumers and safeguarding the long-term integrity of digital asset markets in the United States.”

Blueprint for the 21st Century

As previously reported by The Block, lawmakers planned to release the draft before a key hearing titled:

“American Innovation and the Future of Digital Assets: A Blueprint for the 21st Century.”

This new draft is expected to mirror last year’s Financial Innovation and Technology for the 21st Century Act (FIT21), which successfully passed the House.

What FIT21 Proposed

FIT21 was designed to clarify the regulatory lines between:

• The Securities and Exchange Commission (SEC)

• The Commodity Futures Trading Commission (CFTC)

It would grant more power and funding to the CFTC to oversee:

• Crypto spot markets

• Digital commodities — particularly Bitcoin

The bill would also establish parameters for how and when the SEC exercises jurisdiction over digital assets.

Key Components of the New Discussion Draft

The updated draft released Monday includes:

• Language detailing the authority of the SEC and CFTC

• A “pathway to raise funds under the SEC’s jurisdiction”

• A “clear process to register with the CFTC for digital commodity trading”

• Disclosure requirements for crypto projects

• Registration guidelines for “digital commodity exchanges”

 @ Newshounds News™
Source:  

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ARIZONA SENATOR VOWS TO REINTRODUCE BITCOIN RESERVE BILL DESPITE GOVERNOR’S VETO

▪️ Governor Hobbs' veto did not deter Senator Rogers, who insists future leadership will embrace Bitcoin's potential.

▪️ Senator Wendy Rogers plans to reintroduce the Strategic Bitcoin Reserve (SBR) bill next session.

▪️ The vetoed bill aimed to allocate retirement funds into Bitcoin, drawing strong reactions from both sides.

Arizona State Senator Wendy Rogers has declared her intent to reintroduce her proposed Strategic Bitcoin Reserve (SBR) bill in the upcoming legislative session, despite a recent veto from Governor Katie Hobbs.

This marks a historic first — the first formal rejection of a crypto initiative by a sitting U.S. governor.

 “Politicians don’t understand that Bitcoin doesn’t need Arizona. Arizona needs Bitcoin. I will refile my bill next session.”
— Senator Wendy Rogers

About the SBR Bill (Senate Bill 1025)

The bill, officially called Senate Bill 1025, would have:

• Authorized the Arizona state treasurer to allocate part of the state’s retirement funds to Bitcoin

• Passed both chambers of the Arizona legislature without changes

• Been vetoed by Governor Hobbs, who cited concerns over volatility and long-term risk

Despite the rejection, Senator Rogers remains confident that future administrations may take a more favorable stance.

 “If she vetoes it again, I am sure Governor Andy Biggs will be happy to take credit for signing the bill for this already proven (16 years!) innovation that will protect our wealth.”
— Senator Rogers

Current Exposure to Bitcoin

Interestingly, Arizona’s State Retirement System (ASRS) already has indirect exposure to Bitcoin through investments in Strategy, the largest corporate holder of the asset, according to Julian Fahrer, founder of Bitcoin Laws.

What’s Next for Arizona?

Though SB1025 is currently off the table, crypto legislation in Arizona is far from over. Another proposal — Senate Bill 1373 — is still under review.

🟩 Key Differences in SB1373:  Does not involve retirement funds

• Seeks to allow the state to retain and manage cryptocurrencies obtained through seizures or appropriated assets

However, given Governor Hobbs’ resistance to 

SB1025, it’s unclear whether she would support SB1373 — even though some believe its administrative nature may give it a better shot at approval.

@ Newshounds News™
Source:  CryptoSlate

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Seeds of Wisdom RV and Economic Updates Monday Morning 5-5-25

Good Morning Dinar Recaps,

SAY NO TO CRYPTO LEGISLATION, SENATOR WARREN URGES SENATE ON SHADY TRUMP DEAL

Senator Elizabeth Warren has criticized the Trump family’s involvement in the crypto industry, particularly the newly launched USD1 stablecoin.

▪️ Backed by US Treasuries, USD1 will reportedly serve as the settlement currency for a $2 billion investment from Abu Dhabi-backed MGX.
▪️ Warren has raised alarm about the GENIUS Act, which aims to establish a US regulatory framework for stablecoins.
▪️ She alleges the bill could facilitate financial profiteering by Trump and his associates, labeling it as a move that "greenlights corruption".

US Senator Elizabeth Warren has raised major red flags about Donald Trump’s association with the crypto industry and the recent $2 billion deal backed by the United Arab Emirates, calling it a pathway to huge corruption. As a result, she has urged the US Senate to stop the crypto legislation and the GENIUS Act, ahead of this week.

Senator Warren Attacks USD1 Stablecoin

In her fresh attack on the Trump family, Massachusetts Senator Elizabeth Warren referred to the newly launched USD1 stablecoin, backed by short-term US Treasuries. This stablecoin has been issued by Donald Trump’s DeFi project, World Liberty Financial.

The global stablecoin market currently surpasses $245 billion in circulation. According to CoinGecko, USD1 ranks seventh among stablecoins, with most being backed by short-term US Treasuries and other real-world debt instruments.

World Liberty’s USD1 will play a pivotal role as the settlement currency for MGX’s $2 billion investment in Binance, the global cryptocurrency exchange.

Abu Dhabi’s sovereign wealth fund is backing MGX, with Witkoff publicly announcing the deal last week during a crypto convention in Dubai, seated alongside Eric Trump.

Stop Crypto Legislation aka GENIUS Act

Senator Elizabeth Warren has been actively questioning Donald Trump’s association with the crypto industry, adding that the President and his peers are filling up their pockets by bending the rules.

While referring to the crypto legislation aka the GENIUS Act last week, which seeks to establish the first US regulatory framework for stablecoins, Senator Warren said:

“This is a bill that would make it even easier for the president and his family to profit off their own stablecoin and oversee their own financial company.”

While further questioning the Senate’s inaction in a Trump-associated crypto deal, Senator Warren called it “corruption in plain sight”. She warned that by advancing related legislation, lawmakers are effectively “greenlighting the grift.”

The GENIUS Act bill, sponsored by Senator Bill Hagerty (R-TN), gained bipartisan backing in March when it passed the Senate Banking Committee and is set for a floor vote this week.

@ Newshounds News™
Source:  CoinSpeaker

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CARDANO JOINS LINUX FOUNDATION’S CONFIDENTIAL COMPUTING CONSORTIUM

Cardano has become the newest member of the Linux Foundation’s Confidential Computing Consortium (CCC), a move that places the open-source blockchain alongside tech giants like Microsoft and Amazon in the fast-growing arena of hardware-based data protection.

The announcement came during a one-hour “Midnight Booth” fireside chat at Consensus, where Charles Hoskinson (CEO of Input Output) and Eran Barak (CEO of the Midnight development company) laid out how confidential computing will anchor Cardano’s privacy-first sidechain, Midnight.

“We just recently joined the Confidential Computing Consortium... We’re right there with Microsoft and Amazon with Nitro,” Hoskinson told the audience.

Cardano’s Entry into Hardware-Based Privacy

The CCC sets cross-industry specifications for enclave-based security. Cardano’s membership signals an intent to align Midnight’s zero-knowledge roll-ups and DID (Decentralized Identifier) stack with emerging hardware security standards rather than relying purely on cryptographic approaches.

“Midnight basically clicks into all of those different things… you actually get paid for sharing these things as opposed to it all goes to the Magnificent Seven,” said Hoskinson, referencing dominant Big Tech firms.

Cardano Takes Next Step in Secure Blockchain

Hoskinson traced the inspiration for Midnight to “a bar in Tel Aviv” during Eurocrypt 2018, where a debate on zero-knowledge proofs matured into a new sidechain project featuring:

• A Stark-based execution engine (“Kachina”)

• A dual-token economic model:

• “Knight” for governance

• “Dust” for metered capacity

• Selective-disclosure controls using W3C DIDs

“Enterprise adoption hinges on hardware-rooted trust,” said Barak.
“Confidential computing supplies that final layer.”

Why Confidential Computing Matters

“When you think about protecting your data, you really need to protect the data and the metadata,” said Barak.

By joining the CCC, Cardano gains influence in shaping:

• Chipset specifications

• Enclave attestation protocols

• Open-source reference code

Midnight aims to become the secure foundation that enables AI to access private data without violating user rights.

Regulatory Design: The Two-Asset Model

The session highlighted Midnight’s design that splits volatile and stable components:

• “Knight” = value-accruing governance token

• “Dust” = stable, non-speculative usage token

“You get your cake and eat it, too… developers can pay in Bitcoin or Ether or Solana... end users won’t notice they’re using a different system,” said Hoskinson.

This sidesteps common regulatory concerns seen in privacy coins like Monero, by separating consensus incentives from fee mechanisms.

Hardware-Backed Privacy for Compliance

Confidential computing strengthens blockchain privacy at the hardware level:

• Enclave-based execution seals wallet keys, ZK circuits, and DID registries

• Cryptographic attestation allows regulators to verify compliance

“Selective disclosure is an absolute necessity,” Hoskinson emphasized.
“Disclosure rules can be embedded in smart contracts, and exchanges decide compliance.”

Looking Ahead: Tokenized Assets and Enterprise Use

Cardano’s CCC membership coincides with a growing push toward tokenizing real-world assets, a market Hoskinson estimates at:

• $10+ trillion today

• $100 trillion in the future

Midnight must interoperate with both legacy financial venues (e.g., NYSE) and on-chain liquidity pools.

“You want broker-dealers, compliance, circuit breakers, and blockchain tech... Midnight is the only way to really do that,” he said.

2,000+ Builders Already on Midnight

Barak reported over 2,000 testnet developers building projects including:

• Dark-pool trading prototypes

• Encrypted medical record systems

• Jet engine carbon-credit tracking

Because code/state is encrypted, even IO’s team cannot inspect what is deployed—ensuring privacy-first development.

“If we finally bring blockchain technology with privacy businesses actually need, the innovation is just unbelievable,” Barak concluded.

@ Newshounds News™
Source:  Bitcoinist

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Seeds of Wisdom RV and Economic Updates Sunday Morning 5-4-25

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PRO-CRYPTO DEMOCRATS PULL SUPPORT FOR STABLECOIN BILL IN LAST MINUTE

A group of nine US Senate Democrats say they will oppose the stablecoin bill in its current form, threatening its chances of passing.

A group of US Senate Democrats known for supporting the crypto industry have said they would oppose a Republican-led stablecoin bill if it moves forward in its current form.

The move threatens to stall legislation that could establish the first US regulatory framework for stablecoins, according to a May 3 report from Politico.

Per the report, nine Senate Democrats said in a joint statement that the bill “still has numerous issues that must be addressed.” They warned they would not support a procedural vote to advance the legislation unless changes are made.

Among the signatories were Senators Ruben Gallego, Mark Warner, Lisa Blunt Rochester and Andy Kim — all of whom had previously backed the bill when it passed through the Senate Banking Committee in March.

The bill, introduced by Senator Bill Hagerty, is formally known as the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act.

Senate prepares to vote on stablecoin bill

The Senate is expected to begin floor consideration of the bill in the coming days, with the first vote potentially taking place next week.

The bill has been championed by the crypto industry as a landmark step toward regulatory clarity. However, the Democrats’ about-face reflects growing unease within the party.

Although revisions were made to the bill after its committee approval to address Democratic concerns, the lawmakers said the changes fell short. They called for stronger safeguards related to:

• Anti-Money Laundering

• National Security

• Foreign Issuers

• Accountability measures for noncompliant actors

The statement was also signed by Senators Raphael Warnock, Catherine Cortez Masto, Ben Ray Luján, John Hickenlooper and Adam Schiff.

Senator Kirsten Gillibrand and Senator Angela Alsobrooks were absent from the list, who co-sponsored the bill alongside Hagerty.

Despite their objections, the Democratic senators emphasized their commitment to shaping responsible crypto regulation. They reportedly said they “are eager to continue working with our colleagues to address these issues.”

Crypto needs a stablecoin bill

On April 27, Caitlin Long, founder and CEO of Custodia Bank, criticized the US Federal Reserve for quietly maintaining a key anti-crypto policy that favors big-bank-issued stablecoins, despite relaxing crypto partnership rules for banks.

Long explained that while the Fed recently rescinded four prior crypto guidelines, a Jan. 27, 2023, statement was left intact in coordination with the Biden administration.

The guidance, according to Long, blocks banks from engaging directly with crypto assets and prohibits them from issuing stablecoins on permissionless blockchains.

However, Long noted that once a federal stablecoin bill becomes law, it could override the Fed’s stance. “Congress should hurry up,” she urged.

@ Newshounds News™
Source:  CoinTelegraph

BRICS ACCELERATES CURRENCY SHIFT WITH NEW TRADE TOOLS AND PAYMENT SYSTEMS

BRICS nations are turbocharging their break from Western-dominated finance, advancing local currency trade, cross-border payment systems, and groundbreaking investment platforms to empower the Global South.

BRICS Ministers Push Local Currencies, Cross-Border Payment Plan, and New Investment Platforms

Foreign ministers from the BRICS countries highlighted their commitment to shifting away from reliance on dominant global currencies during a meeting in Rio de Janeiro earlier this week. The official Chair’s Statement from the Meeting of BRICS Foreign Ministers emphasized expanding the use of local currencies in trade and financial transactions within the bloc and with partner countries.

The meeting, hosted under Brazil’s 2025 BRICS Chairship, underscored the group’s intention to enhance economic sovereignty and regional cooperation through new monetary tools. The statement details:

The ministers underscored the importance of the enhanced use of local currencies in trade and financial settlements between BRICS countries and their trade partners.

They referenced paragraph 66 of the Kazan Declaration, which directs finance ministers and central bank governors to continue examining the use of:

• Local currencies

• Payment instruments and platforms

This includes assessing the feasibility of a BRICS cross-border payments initiative, known as BRICS Clear, and enhancing the bloc’s reinsurance capacity, with a mandate to report findings to BRICS leaders. These initiatives are viewed as essential to:

• Deepening financial integration among BRICS members

• Reducing vulnerabilities associated with external economic shocks

The group also reaffirmed its commitment to fostering investment within its own ranks and across the Global South. The statement notes:

They emphasized the importance of continuously expanding local currency financing and strengthening innovation in investment and financing tools and acknowledging the initiative to create new investment platform to boost investment flows into BRICS countries and the Global South mechanisms.

This strategy aligns with broader goals of:

• Financial inclusivity

• Economic resilience

• A transition toward a multipolar economic system that better reflects the interests of emerging markets and developing countries

The focus on local currencies and financial platforms complements ongoing discussions around BRICS-led alternatives to existing global payment systems. Ministers are expected to deliver concrete proposals for BRICS leaders to review, building on the momentum created by prior declarations and new institutional frameworks designed to accelerate intra-bloc economic collaboration.

@ Newshounds News™
Source:  Bitcoin News

~~~~~~~~~

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Seeds of Wisdom RV and Economic Updates Saturday Afternoon 5-3-25

Good Afternoon Dinar Recaps,

BRICS 2025 SUMMIT COULD BE GAME-CHANGER FOR THE US DOLLAR

Just months into 2025, geopolitical tensions are shaking global markets — especially between the US and the BRICS economic alliance. As a result, the upcoming BRICS 2025 Summit may prove to be a turning point for the US dollar.

For years, BRICS nations have pursued de-dollarization, aiming to reduce reliance on the greenback. With the US leaning into America-first trade policies and further weaponizing the dollar, the bloc’s resolve may now be firmer than ever.

Why the BRICS 2025 Summit Matters

The annual BRICS summit has become the alliance’s most critical platform for economic coordination. Past gatherings have focused on:

• Expanding membership

• Developing alternative currency mechanisms

This year’s summit — dubbed the “Rio Reset” — is expected to be the most pivotal yet, particularly as Brazil holds the BRICS chairmanship and pushes for redefining global currency norms.

According to Birch Gold Group, the summit is “rumored to be a significant monetary development that will disrupt the dollar-based global financial system.”

“I’m convinced BRICS will make history this summer,” says analyst Peter Reagan.

Pressure on the US Dollar Builds

Since President Donald Trump’s return to office, his administration has introduced tariffs and protectionist policies, prompting the US dollar to fall 10% in just his first 100 days.

Without new trade deals, continued depreciation of the dollar seems likely. This only strengthens BRICS’s incentives to push forward with currency diversification and new international monetary tools.

@ Newshounds News™
Source:  Watcher Guru

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ANALYSIS: RIPPLE MAKES BID FOR STABLECOIN ISSUER CIRCLE – REPORT

Earlier this week, Bloomberg reported that Ripple made a $4–$5 billion bid for Circle, the issuer of the USDC stablecoin. Circle rejected the offer, viewing it as too low. This comes as Circle filed for an NYSE listing earlier this month.

Despite generating $1.67 billion in 2024 revenue, Circle earned just $156 million in profit, due to 60% of revenue being paid out to distributors, especially Coinbase.

Why Ripple Wants Circle

Ripple’s interest makes strategic sense. It recently launched its own stablecoin, RLUSD, which just passed $300 million in market cap. By contrast, Circle’s USDC stands at $61 billion. Both aim at institutional markets, creating a major overlap in target audience.

Moreover, Ripple is cash-rich. It holds:

• 4.5 billion XRP outright (worth ~$10 billion),

• 38 billion XRP in escrow,

• Plus, it committed $1.25 billion to acquire prime broker Hidden Road.

XRP’s Speculative Valuation

Ripple's XRP holdings enable large acquisitions, but its price is highly speculative:

• XRP’s market cap is ~58% of Ethereum’s.

• Yet, Ethereum has ~20x more daily active users (~465k vs. XRP’s ~23k).

• Developer activity and ecosystem growth also heavily favor Ethereum.

So while it’s a good time to spend XRP, any acquisition requiring the recipient to hold XRP carries pricing risk.

Circle’s Institutional Edge

Circle is deeply entrenched in institutional finance:

• Partners with BlackRock to manage reserves,

• Custody by BNY Mellon,

• Recently linked to stablecoin collateral for listed derivatives,

• Favored in CFTC tokenized collateral pilots.

Ripple, although a late entrant, wants in. It already:

• Acquired Metaco ($250M) for custody solutions,

• Worked with emerging market CBDC pilots,

• Serves institutional cross-border payments.

Why Circle Rejected the Offer

Circle is pursuing an IPO expected to value it around $4–$5 billion, the same range as Ripple’s offer.

But:

• Founders retain Class B shares with 5x voting power,

• CEO Jeremy Allaire has IPO experience (sold Allaire Corp to Macromedia),

• This IPO is a launchpad—not an exit.

Given Circle’s years of pivots (e.g., Poloniex acquisition, Circle Pay wallet) and the long road to USDC’s success, a $5B sale isn’t attractive, especially if paid partly in volatile XRP.

Bottom Line

Ripple’s bid is strategically sound, but to succeed, it may need to significantly raise the offer — and reduce XRP exposure for any future acquisition deal.

@ Newshounds News™
Source:  Ledger Insights

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ARIZONA GOVERNOR VETOES BILL TO MAKE BITCOIN PART OF STATE RESERVES

Arizona’s plan to invest in Bitcoin has ended in a veto, with Governor Katie Hobbs citing concerns over using public funds for "untested assets."

Arizona Governor Katie Hobbs has vetoed a bill that would have allowed the state to hold Bitcoin as part of its official reserves, effectively ending efforts to make Arizona the first US state to adopt such a policy.

The Digital Assets Strategic Reserve bill, which would have permitted Arizona to invest seized funds into Bitcoin and create a reserve managed by state officials, was formally struck down on Friday, according to an update on the Arizona State Legislature’s website.

“Today, I vetoed Senate Bill 1025. The Arizona State Retirement System is one of the strongest in the nation because it makes sound and informed investments,” Hobbs wrote in a statement aimed at Warren Petersen, the President of the Arizona Senate.

“Arizonans’ retirement funds are not the place for the state to try untested investments like virtual currency,” she added.

On April 28, the bill passed a final vote in the state House when 31 members of the Arizona House voted in favor of the bill, with 25 opposing.

Hobbs had previously stated she would veto any legislation not tied to a bipartisan agreement on disability funding.

Another Bitcoin awaits final vote

A companion bill, SB1373, which would authorize the state treasurer to allocate up to 10% of Arizona’s rainy-day fund into digital assets like Bitcoin, has not yet reached a final vote.

Arizona joins several other states where similar efforts have failed. In recent months, similar proposals in Oklahoma, Montana, South Dakota and Wyoming have stalled or been withdrawn.

In contrast, North Carolina’s House passed the Digital Assets Investment Act on April 30, allowing the state treasurer to invest up to 5% of certain funds in approved cryptocurrencies. The bill has now been moved to the state Senate for consideration.

The state-level efforts to create Bitcoin reserves come amid a push from US President Donald Trump and Republican lawmakers to do the same in the federal government.

Trump signed an executive order in March with a proposal for a “Strategic Bitcoin Reserve” and a “Digital Asset Stockpile.”

@ Newshounds News™
Source:  CoinTelegraph

~~~~~~~~~

UK REGULATOR PROPOSES BAN ON BUYING CRYPTO WITH CREDIT CARDS

The UK's financial regulator is considering a ban on buying crypto with credit, and also mulling outlawing crypto lending and borrowing platforms.

▪️The UK's Financial Conduct Authority has proposed banning the use of credit to purchase crypto assets.

▪️The regulator is accepting comments on the rule from the public until June 13.

Britain’s top financial regulator has proposed banning the purchase of cryptocurrency with any sort of borrowed funds, including credit cards.

A new discussion paper from the UK’s Financial Conduct Authority floated a plan this week to outlaw crypto firms from allowing British customers to buy crypto assets with a credit card. The proposed rule would also ban the purchase of crypto with any other form of credit, including loans and digital currency credit lines.

The move appears largely driven by the regulator’s concern that UK adults are going into debt to buy crypto, a “risky” practice, given the inherent volatility of digital assets.

Britain’s top financial regulator has proposed banning the purchase of cryptocurrency with any sort of borrowed funds, including credit cards.

A new discussion paper from the UK’s Financial Conduct Authority floated a plan this week to outlaw crypto firms from allowing British customers to buy crypto assets with a credit card. The proposed rule would also ban the purchase of crypto with any other form of credit, including loans and digital currency credit lines.

The move appears largely driven by the regulator’s concern that UK adults are going into debt to buy crypto, a “risky” practice, given the inherent volatility of digital assets.

We are concerned that consumers buying crypto assets with credit may take on unsustainable debt, particularly if the value of their crypto asset drops and they were relying on its value to repay,” the FCA said.

A YouGov survey recently commissioned by the Authority found that 14% of UK crypto users reported using credit to buy digital assets in August 2024. That figure marked a 133% uptick from two years prior.

The proposal, if passed, would not necessarily impact all crypto assets, however. The FCA said that stablecoins authorized by its regulatory regime would likely be exempt from the credit ban.

@ Newshounds News™
Source:  Decrypt

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Fed Panics: New Silver & Gold Laws Threaten Control

Fed Panics: New Silver & Gold Laws Threaten Control

Daniela Cambone:  5-2-2025

We’re seeing more and more states actively participate in a monetary renaissance,” says JP Cortez, Executive Director of the Sound Money Defense League.

He speaks with Daniela Cambone about how different U.S. states are making moves to support sound money by getting rid of taxes on gold and silver and recognizing them as legal tender again.

Wyoming, Idaho, and Alabama are a few standout examples of these efforts.

“Politicians tend to see dollar signs and don’t understand the constitutional or historical reasons why gold and silver shouldn’t be taxed,” Cortez points out.

 He also weighs in on the recent power outage in Spain, highlighting why depending only on digital money can be risky during a crisis.

Key facts:

2025 has seen significant progress in sound money adoption.

Leading states: Wyoming, Idaho, Alabama Challenges in implementing sound money legislation

Why are politicians reluctant to adopt sound money?

Spain’s blackout highlights the risks of relying on digital money.

Chapters:

 00:00 – Tax Reforms on Gold and Silver

4:39 – State-by-State Sound Money Rankings

6:20 – The Rise of the Sound Money

7:31 – Can the Fed Stop Sound Money?

9:24 – Utah's Leadership in Sound Money Adoption

 12:30 – Spain Power Outage

17:22 – The Growing Problem of National Debt

18:51 – End the Fed

https://www.youtube.com/watch?v=72eGXwkw1O0

Seeds of Wisdom RV and Economic Updates Friday Afternoon 5-2-25

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BITCOIN IS A MATTER OF NATIONAL SECURITY — DEPUTY CIA DIRECTOR

Deputy CIA director Michael Ellis' comments reflect Bitcoin's maturation as an asset but conflict with the cypherpunk philosophy.

The US Central Intelligence Agency is increasingly incorporating Bitcoin as a tool in its operations, and working with the cryptocurrency is a matter of national security, Michael Ellis, the agency’s deputy director, told podcast host Anthony Pompliano.

In an appearance on the market analyst and investor’s show, Ellis told Pompliano that the intelligence agency works with law enforcement to track BTC, and it is a point of data collection in counter-intelligence operations. Ellis added:

"Bitcoin is here to stay — cryptocurrency is here to stay. As you know, more and more institutions are adopting it, and I think that is a great trend. One that this administration has obviously been leaning forward into."

"It's another area of competition where we need to ensure the United States is well-positioned against China and other adversaries," Ellis said.

Although Ellis's comments point to Bitcoin maturing as an asset, they also reflect the increased involvement of governments and institutions, which runs contrary to the libertarian and cypherpunk ethos originally inherent in crypto.

Bitcoin: from cypherpunk experiment to state reserve asset

US President Donald Trump signed an executive order establishing a Bitcoin Strategic Reserve on March 7, to mixed reactions from the Bitcoin community.

Bitcoin Magazine CEO David Bailey celebrated the move, while Venice AI founder and BTC advocate Erik Vorhees warned against government ownership of Bitcoin but added that if the US government is to adopt any crypto reserve, it should be Bitcoin-only.

Concerns that cryptocurrencies have lost their cypherpunk roots predate the current market cycle and any strategic reserve legislation or comprehensive regulatory frameworks for digital assets.

In March 2020, Therese Chambers, the former director of retail and regulatory investigations at the UK’s Financial Conduct Authority (FCA), argued that cryptocurrencies had become increasingly financialized and institutionalized.

Chambers added that digital assets were behaving far more like traditional financial instruments than the privacy-preserving tools they were initially billed as.

@ Newshounds News™
Source:  CoinTelegraph

~~~~~~~~~

CAPITOL CRYPTO: CONGRESSMAN PROPOSES BITCOIN ATMS IN GOVERNMENT FACILITIES

A Texas Republican congressman has proposed installing cryptocurrency ATMs in United States federal buildings. Rep. Lance Gooden wrote a May 1 letter to Stephen Ehikian, who is presently acting administrator for the General Services Administration (GSA), news reports said.

Trump Ally Frames Proposal As “Educational Resource”

Gooden, one of the president’s well-known Republican allies, recommended in his letter that installing crypto ATMs in government buildings would be an “educational resource” for the public.

He requested that the GSA start exploring guidelines and regulations necessary for installing such machines on federally owned properties across the country.

Public documents filed with the House of Representatives indicate Gooden has not declared any cryptocurrency investment or ATM firms since being elected in 2019. There are no reported financial disclosures in public records available for the Texas representative as of 2025.

Authority Questions Unanswered

The GSA regulates and manages government-owned properties. Although its website states that it can offer space for federal credit union ATMs, it is not certain if Ehikian can extend these regulations to digital asset ATMs provided by private companies.

Reports suggest Ehikian, who was sworn in by US President Donald Trump, may not have a mandate to introduce these types of ATMs without consent from Congress. Reports also disclose that the finances for such an endeavor may demand an act of Congress.

President’s Crypto Connections Raise Questions

Meanwhile, Trump has extensive engagement with digital coins and asset firms across multiple avenues. These range from his individual investments, presidential campaign accounts, family-backed enterprises, and the TRUMP meme coin.

Trump reportedly hosted a dinner in Washington, DC in April for the leading holders of his meme coin. This link creates questions regarding potential policy influences related to cryptocurrency infrastructure in government buildings.

 Senate Considers Tougher Crypto ATM Regulations

Gooden’s bill comes as legislators in the Senate are considering bills to combat fraud using digital currency ATMs. Last February, Illinois Senator Dick Durbin introduced the Crypto ATM Fraud Prevention Act with the goal of establishing “common sense guardrails” against scams that have hurt many elderly Americans.

The timing provides a telling contrast between Gooden’s initiative to expand access to crypto technology and Durbin’s push for more protection from possible abuse of the same systems.

This brings to the fore the debate surrounding how to achieve a balance between innovation and consumer protection in the world of cryptocurrencies.

@ Newshounds News™
Source:  Bitcoinist

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US CONGRESS SEEKS TO END THE PENNY BY INTRODUCING THE COMMON CENTS ACT

The ‘Common Cents’ Act, which has bipartisan support, seeks to end the production of the $0.01 coin, commonly known as the cent, as its production and distribution costs exceed its face value. Representatives Lisa McClain and Robert Garcia, along with Senators Cynthia Lummis and Kirsten Gillibrand, are behind this proposal.

Common Cents Act Gets Introduced to Stop Penny Production

The U.S. Congress will consider ending the production of the $0.01 coin, commonly known as the penny, to combat government inefficiency. A proposal called the ‘Common Cents Act’ seeks to eliminate the production of the cent coin to reduce government spending on a coin that is no longer widely used.

Introduced by a bipartisan group of lawmakers, including Representatives Lisa McClain and Robert Garcia, as well as Senators Cynthia Lummis and Kirsten Gillibrand, the act would direct the Secretary of the Treasury to cease production of one-cent coins for regular use.

However, special issuances for coin collectors would still be allowed, provided the sale price of the coin ‘equals or exceeds the total cost of production, including variable costs and the appropriate share of fixed costs.’

Additionally, the bill proposes rounding prices to the nearest five cents, a resolution adopted by several countries implementing similar reforms. This would enable people to complete all cash payments without issue.

Senator Cynthia Lummis highlighted the wasteful spending that the U.S. Mint executes with the issuance of each penny. Lummis stated:

The fiscal reality is undeniable: the U.S. Mint spends three cents to produce each one-cent coin. With a $36 trillion national debt, we have to implement meaningful opportunities to reduce costs, update our currency system, and codify the elimination of government inefficiencies. It just makes cents!

In February, President Donald Trump decided to end the production of the penny, assessing that the whole operation was “wasteful.” Nonetheless, experts stated that this decision was not his to make, as Congress is the institution that dictates the specifics of coin production.

Analysts expect Trump to tackle nickel production in the future, as it is also produced at a loss.

@ Newshounds News™
Source:  Bitcoin News

~~~~~~~~~

COULD XRP ETF APPROVAL BE NEAR? RIPPLE TO MEET SEC CHAIR PAUL ATKINS ON MAY 2

As positive shifts in cryptocurrency regulation unfold under President Donald Trump’s second administration, speculation is mounting regarding the potential approval of spot XRP ETF applications.

This anticipation is fueled by significant changes at the US Securities and Exchange Commission (SEC), particularly the appointment of Paul Atkins as the new chair. Known for his pro-crypto stance, Atkins represents a departure from the stringent regulatory environment established by former chair Gary Gensler.

Speculation Rises Around XRP ETF Applications

The timing of a possible XRP ETF approval is further ignited by reports of a potential meeting between Ripple Labs’ executive chairman and co-founder Chris Larsen and SEC Chair Paul Atkins. Such discussions could pave the way for expedited decisions on XRP ETF applications.

Earlier this week, Bitcoinist highlighted that the SEC has set a new deadline of June 17, 2025, for either approving or disapproving the XRP ETF application submitted by asset manager Franklin Templeton or initiating further proceedings to assess the proposal.

Bloomberg ETF expert James Seyffart has indicated that while the June deadline is crucial, market participants should prepare for a series of decisions expected in the fourth quarter of 2025.

However, Bloomberg’s ETF expert specifically pointed to mid-October—around the 18th of this year—as a pivotal date for a potential spot XRP ETF decision by the regulatory body.

Ripple Labs Sees Renewed Hope

Adding to the excitement, crypto investor Steph Is Crypto recently shared on social media site X (formerly Twitter), that insiders suggest the meeting between Larsen and Atkins, reportedly scheduled for May 2, could bring the approval of XRP ETF applications closer to reality. However, as of Thursday, no official confirmation or statements have been released by either party, leaving this scenario uncertain.

The ongoing speculation for XRP ETF applications come amid a more favorable environment for Ripple Labs, which has long advocated for regulatory changes in the US.

The previous administration faced criticism for its enforcement actions and lawsuits targeting major players in the crypto sector, including Ripple Labs itself.

Since Gensler’s resignation on January 20, 2025, several lawsuits against prominent companies like Coinbase, Robinhood, Uniswap Labs, and Kraken have been dropped, further easing regulatory pressures.

This renewed optimism not only fuels hopes for XRP ETF approval but also raises expectations for other crypto ETFs, including those for Litecoin (LTC), Solana (SOL), Dogecoin (DOGE), and Cardano (ADA), which may also receive approvals later this year.

At the time of writing, XRP, currently the fifth largest cryptocurrency on the market in terms of capitalization, is trading at $2.21, up 8% in fourteen days amid renewed optimism in the market after a challenging few months.

@ Newshounds News™
Source:  Bitcoinist

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HOUSE REPUBLICANS TO UNVEIL LANDMARK DRAFT DIGITAL ASSET BILL AHEAD OF KEY CRYPTO HEARING NEXT WEEK

▪️Top Republicans of the House Financial Services Committee alongside their counterparts in the House Agriculture Committee will be releasing a draft ahead of a May 6 hearing on the future of digital assets, sources told The Block
.
▪️The incoming version is set to be similar to one that passed out of the House last year called the Financial Innovation and Technology for the 21st Century Act

Key lawmakers are set to release a new discussion draft in the coming days that outlines a significant regulatory framework for digital assets, ahead of a major congressional hearing next week.

Top Republicans on the House Financial Services Committee — Reps. French Hill and Bryan Steil — along with their counterparts on the House Agriculture Committee — Reps. Glenn "GT" Thompson and Libertarian Dusty Johnson — will release the draft before a May 6 joint hearing on digital assets, a source familiar with the matter confirmed to The Block.

The hearing, titled “American Innovation and the Future of Digital Assets: A Blueprint for the 21st Century,” will be held at 10 a.m. ET and is expected to focus on long-awaited legislation to define crypto market structure in the United States.

The draft is expected to resemble last year’s Financial Innovation and Technology for the 21st Century Act (FIT 21), which passed the House. A staffer for the House Agriculture Committee also confirmed that the text would be released prior to the hearing.

Committees in the House and Senate have advanced bills focused on stablecoins, and legislation to regulate the crypto industry as a whole has been viewed as the next step. President Donald Trump has said that he wants to see a stablecoin bill on his desk by August, but some say the bills could be linked.  

Republicans have been mostly leading efforts on both bills and would need Democratic support to pass. Some Democrats, including crypto critic Rep. Brad Sherman of California, have said that "good crypto regulation" is needed, but Trump-backed crypto ventures could threaten any hope of bipartisanship.

Moving Onwards

The process for a market structure bill is moving quickly, said Ron Hammond, senior director of government relations at the Blockchain Association, as lawmakers could decide to hold another hearing or could go straight away to a markup — the process where lawmakers openly debate, amend, and vote on a bill.

Hammond said he had not seen a version of the discussion draft, but said he had been told it was 90% similar to FIT 21.

"Overall, it's still kind of a black box until we see the text of what actually got changed and what they intend to change after the discussion draft," Hammond said in an interview.

FIT 21 sets out to clarify when a digital asset would be regulated by the Securities and Exchange Commission, the Commodity Futures Trading Commission, or both. It would have ultimately granted more power and funding to the CFTC to oversee crypto spot markets and "digital commodities," particularly bitcoin, and set parameters for the Securities and Exchange Commission.

Meanwhile, the Senate is working on its version of a crypto market structure bill, Hammond said.

Stablecoins - market structure

Combining the two bills has been floated, but there are concerns of partisan divides as the midterms near in November 2026, Hammond said, while others say they should be separated and get stablecoin legislation signed into law first. Work on a stablecoin bill is seen as less complicated than trying to regulate the industry as a whole.

Hill told reporters in March that he views the bills as "linked," and Steil said he viewed the two as peanut butter and jelly.

However, Trump's foray into crypto could complicate crypto legislative efforts. Hill was asked in March about the Trump family's involvement in crypto, which includes a DeFi protocol under development as well as live and tradable memecoins and NFTs. World Liberty Financial, backed by Trump, also recently launched its own stablecoin.

Hill had said that Trump's memecoin and stablecoin involvement has complicated their work.

During congressional hearings over the past several weeks, Democrats have raised alarm bells over Trump's involvement. Top Democrat of the House Financial Services Committee, Maxine Waters of California, accused Trump of making himself richer through his crypto ventures during a hearing last month.

"The more the Trump family gets involved in the crypto realm, and World Liberty Financial gets involved, it just presents another angle of attack for Democrats to attack Trump," Hammond said. "So there is a concern that this will only worsen over time and sour a potential good bipartisan vote in the Senate."

@ Newshounds News™
Source:  The Block

~~~~~~~~~

AUSTRALIAN ELECTION WILL BRING PRO-CRYPTO LAWS EITHER WAY

No matter who wins Saturday's election in Australia, crypto legislation developed with the industry is set to finally happen this year.

Despite reports in February suggesting that 2 million pro-crypto voters could decide the outcome of this week’s Australian Federal Election, crypto has barely rated a mention during the campaign.

“I think it’s a missed opportunity,” Independent Reserve founder Adrian Przelozny told Cointelegraph. “Neither side has made crypto a headline issue because they’re wary of polarizing voters or sounding too niche.”

But the good news is that after more than a decade of inaction, both the ruling Australian Labor Party (ALP) and the opposition Liberal Party are promising to enact crypto regulations developed in consultation with the industry.

In April, Shadow Treasurer Angus Taylor promised to release draft crypto regulations within the first 100 days after taking office, while the Treasury itself has draft bills on “regulating digital asset platforms” and “payments system modernization” scheduled for release this quarter.

Amy-Rose Goodey, CEO of the Digital Economy Council of Australia, said that both parties “are equally invested in getting this draft legislation across the line.”

“Irrespective of who gets in, we’re in a better position than we were about a year ago.” Pro-crypto voters have choices in the Senate, too, with the Libertarian Party issuing a 23-page Bitcoin policy in March — calling for the creation of a national Bitcoin Reserve and the acceptance of Bitcoin as legal tender.

The minor party is fielding five Senate candidates in different states, including former Liberal MP Craig Kelly, but doesn’t currently have anyone in the Senate.

The progressive left-wing Greens party has not outlined a position on crypto, while the conservative right-wing One Nation party has campaigned against debanking and CBDCs.

More Than A Decade Of Inaction On Crypto

Australia’s first parliamentary inquiry into digital assets was held back in 2014, but there’s been more than a decade of regulatory inaction since. The industry says this has led to stagnation and a brain drain of talent to jurisdictions like Singapore and the UAE.

The former Liberal Government was considering the landmark Digital Services Act, based on the 2021 Senate Committee’s crypto recommendations, when it lost office in 2022. Despite ongoing consultations since, the ALP government, led by Prime Minister Anthony Albanese, hasn’t put forward any legislation to parliament.

But there has definitely been a vibe shift from the ALP recently, with Treasurer Jim Chalmers telling Cointelegraph that digital assets “represent big opportunities for our economy.”

”We want to seize these opportunities and encourage innovation at the same time as making sure Australians can use and invest in digital assets safely and securely with appropriate regulation.”

His office said exposure draft legislation would be released “in 2025” for consultation, introduced into Parliament “once that feedback has been considered” with the subsequent reforms “phased in over time to minimize disruptions to existing businesses.”

The shadow assistant treasurer, Luke Howarth, said the ALP has been slow to act because it didn’t have a blockchain policy when it was elected.

“It wasn’t until the FTX collapse that they acknowledged the need for regulation,” he told Cointelegraph. “The Albanese government initially promised it would put in place regulation by 2023 but have failed to draft legislation or give a clear time-frame for action. After three years, all that was offered to industry was a six-page placeholder document.”

He’s referring to Treasury’s March statement “on developing an innovative Australian digital asset industry.” It provides for the licensing of Digital Asset Platforms (DAPS), a framework for payment stablecoins and a review of Australia’s Enhanced Regulatory Sandbox.

While short on detail, those aims are broadly similar to the crypto regulation priorities that Howarth outlines to Cointelegraph — the big difference being that the opposition has committed to a faster time frame.

Przelozny praised the 100-day promise as “exactly the kind of urgency we need.”

If elected, the Liberal Party’s legislation is expected to take some of its cues from Senator Andrew Bragg’s private members bill in 2023 and some from the more recent work done by the Treasury.

The government steps up efforts

The Treasury has been quietly drafting legislation this year, which Goodey understands is “almost complete.”

“There’s been prioritization within Treasury, and I know that their team has almost doubled — the digital asset team — for writing that draft legislation. So, there has been an investment in that over the past six months.”

Przelozny characterizes the ALP’s approach as “cautious and methodical, but it’s been slow,” prioritizing consumer protection and risk management.

BTC Markets CEO Caroline Bowler said the election of a pro-crypto Trump administration and the UK’s draft regulations (released this week) likely forced both sides of politics to finally get serious.

”Australia has ground to make up, and I would anticipate this also being a factor in the savvy move by both parties,” she said.

Stand With Crypto campaign and ASIC

The Stand With Crypto campaign is active in Australia but has been fairly low-key during the campaign, with a focus on debanking.

Coinbase managing director for APAC John O’Loghlen called on whoever wins the election to launch a “Crypto-Asset Taskforce (CATF) within the first 100 days.” This would include industry and consumer representatives to finally get crypto regulations over the line.

“If Australia doesn’t move now, we risk falling even further behind,” he told Cointelegraph.

“The next government must move beyond consultation and into legislation.”

The Australian Securities and Investments Commission (ASIC) is the local equivalent of the US Securities Exchange Commission (SEC). It released its own crypto regulatory proposals in December.

Joy Lam, Binance’s head of global regulatory and APAC legal, told Cointelegraph she doesn’t expect ASIC to suddenly change direction if a new government comes in, as the SEC did.

“ASIC doesn’t make the law,” she said. “I don’t expect a complete kind of 180 because ASIC, it is independent, and it does have its own mandate, but it obviously operates within the legislative framework that the government is going to be setting.”

Who should single-issue crypto voters back?

In February, a poll by YouGov and Swyftx found that 59% of crypto users would vote for a pro-crypto candidate in the federal election above all other issues. That equates to around 2 million Australians and would be enough to determine the outcome of the election one way.

But the similarities between the major parties on crypto regulation are much greater than the differences. Goodey said both sides of politics have genuinely engaged with the industry about its concerns and priorities.

“You can see in some of the language with their media releases that they both released in March, April this year, that they are in agreement on what the industry issues are,” she said.

Owing to Senator Bragg’s campaigning on crypto, the industry sees the Liberal Party as more enthusiastic about digital assets, but after three years in government, the ALP looks to have arrived at roughly the same place.

Recent YouGov and Resolve polls suggest the government is likely to be reelected.

While internal Liberal polling suggests an ALP minority government is a genuine possibility, the major parties would have enough votes between them to pass bipartisan crypto legislation.

Whatever happens, 2025 looks like the year Australia will finally provide the crypto industry with the certainty it needs.

“For industry, the timing is really quite critical now because obviously it’s something that has been discussed and kicked around for quite a few years,” Lam said.

“I would say that we are cautiously optimistic.”

@ Newshounds News™
Source:  CoinTelegraph

~~~~~~~~~

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US BLOCKCHAIN FIRMS URGE SEC TO CLARIFY CRYPTO STAKING RULES

The Council warns that overly strict staking rules could stymie innovation and impede market growth.

A coalition of US blockchain firms has urged the Securities and Exchange Commission (SEC) to provide clear regulatory guidance on crypto staking.

The coalition, led by the Crypto Council for Innovation, requested in an April 30 open letter that the agency treat staking with the same clarity it recently applied to proof-of-work mining.

Staked tokens are not a security

The Council argued that staking is a core technical process for maintaining blockchain networks, not an investment contract.

It stated:

“The benefits of staking to a PoS network and its participants are clear: base layer actors are incentivized to contribute to the security of the network, minimize the risk of manipulative activity, ensure data integrity, and bolster community trust in the network.”

It stressed that staking allows users to validate transactions, secure the network, and help produce new blocks. In return, participants receive token-based rewards. These rewards are determined by each network’s protocol, not by a centralized authority or profit-sharing agreement.

The Council also pointed to the SEC Division of Corporation Finance’s March 2025 statement on PoW mining. In that statement, the SEC clarified that mining on decentralized networks is not a securities transaction.

The Council asserted that this reasoning should also apply to staking, as miners and stakers engage in administrative functions to support blockchain infrastructure and receive protocol-defined rewards.

Meanwhile, the letter acknowledged that some risks exist, such as the possibility of slashing, where stakers lose tokens for violating protocol rules.

However, it noted that slashing is uncommon and not a defining feature of staking’s economic model. Therefore, the Council maintains that staking should not be classified under securities laws.

Why is clarity needed?

The Crypto Council believes that formal guidance from the SEC would benefit many stakeholders, including developers, service providers, and end-users.

They argued that such clarity would remove uncertainties for platforms that offer staking, especially those connected to crypto exchange-traded funds (ETFs).

The Council further stressed that regulatory clarity would help the US stay competitive with other global jurisdictions, which are moving faster to support innovation in the digital asset space.

However, they cautioned against overly rigid rules that could limit innovation or reinforce outdated market practices.

@ Newshounds News™
Read more:  CryptoSlate

~~~~~~~~~

BRICS DRIVING A NEW US DOLLAR DOWN CYCLE OR PUSHING IT TO COLLAPSE?

The United States’ global relations have been at the forefront of geopolitical affairs throughout this month. Amid an influx of America-first trade policies, several global collectives have warned over the protectionist approach. Now, the BRICS bloc is positioning itself, alongside US policy, to either drive a new dollar down cycle or push the currency closer to collapse.

At the start of his return to the White House, US President Donald Trump had assured the importance of the greenback’s global status. Indeed, he said that the dollar’s loss of status as a global reserve currency would be akin to “losing a war.” Now, his administration is being confronted with a weakening currency and an influx of global policies to help facilitate its struggle.

US Dollar in Concerning Predicament as BRICS & United States Policy Drive It Down

Just one week ago, Goldman Sachs gave a gloomy prediction for the future of the US dollar. Indeed, the bank aligned with the prevailing belief that the global reserve asset could be on its way toward a concerning position. Not only has it faced pressure from growing de-dollarization efforts, but it has now felt the ire of nations challenged by US tariff plans.

That has provided a key question for both the Western nation and its global south opposition. Is BRICS driving the US dollar to a notable down cycle or pushing it closer to collapse? The economic alliance has, for the last several years, remained at the forefront of alternative currency promotion and development. That could only fast-track this year.

The US dollar DXY Index has recently fallen to a three-year low. Moreover, the greenback has struggled amid a concerning first 100 days for US President Trump. Additionally, a report from The Hill notes that “foreign investors appear to be reappraising the role of US Treasury securities as a global haven asset” amid the administration’s actions in recent months.

So What’s Next?

With US fiscal net interest payments on its debt reaching $949 billion and surpassing its defense spending, there is even more reason to worry. Historian Barry Eichenberg told the publication that Trump “should be promoting financial stability, limiting the use of tariffs, and strengthening America’s geopolitical alliances.”

That has not taken place. In fact, the opposite has. Subsequently, there is reason to believe the BRICS bloc is playing a key role in helping the US decimate the value of its dollar. Since 2024, it has sought to limit its exposure to the currency. A key reason has been its weaponization.

Moreover, it shifted its attention to gold. Indeed, many nations in the alliance have ramped up their purchasing of the metal with eye on a continued de-dollarization approach. With gold surging, there should be a reason for the United States to emphasize a shift in philosophy. That is, before a US dollar downcycle becomes a full-blown collapse.

@ Newshounds News™
Source:  Watcher Guru

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