Iraq News Highlights and Points to Ponder Tuesday AM 11-26-24

Beggars Are Sweeping The Streets Of Iraq.. Their Numbers Are "Large" And 90% Of Them Receive Welfare Salaries

Reports     Economy News - Follow-up  Since her husband died when she was 25, Umm Ali (53 years old) has spent her daytime hours wandering around the Shorja market next to Rusafa in the capital, Baghdad, extending her hand asking for “the charity of passersby.” In her wide green eyes is a trained look of sadness, often prompting people to reach into their pockets to help her.

She reinforces her appearance, which suggests a walking tragedy, with a sentence she repeats mechanically, the vocabulary of which has not changed, and in a steady tone of voice since she began her path of begging for sympathy: “I have three orphaned children to raise and pay the rent.”

Part of what she says is true. She has rent to pay for her small, run-down house on the outskirts of Baghdad, and she already has three sons, the youngest of whom is 24. They have all left her one by one for years, and she now lives alone.

She admitted this after she had seized a 5,000 dinar banknote, which was enough to raise the ceiling of her confidence in the investigator. She admitted, but with the same tone of voice that resembled crying, that she was facing great difficulties as she walked on foot, begging people: “I have to wander around looking for my livelihood in the heat, cold and dust despite my illness,” according to the “Nirij Network for Investigative Reports.”

She added: “The police sometimes harass me. Once they asked me to pledge not to beg again, and they asked me to register with social welfare in order to receive a salary.”

She paused for a moment as if trying to choose the right words, and continued: “The care salary will not be enough for transportation costs, and I am a single, poor woman. Why do they pursue me and leave the criminal gangs, pickpockets, and drug addicts in the street, some of whom are foreigners?”

Umm Ali is referring to the begging gangs that share control over several areas in the capital, Baghdad, and use innovative methods to defraud people, despite the official authorities launching campaigns to combat them, as well as the phenomenon of begging in general.

He also noted that begging is not limited to Iraqis, but there are also foreigners who enter the country in various ways, including under the pretext of religious visits, tourism and work, and organized crime gangs invest in their networks to pose a threat to Iraqi society as a whole, according to officials and researchers familiar with the begging file in the country.

Half A Million Beggars

Counselor Saeed Al-Naaman, a member of the Legal Committee of the Iraqi Forum for Elites and Competencies, defines begging as: “an individual’s request for money from others using various fraudulent means to influence their emotions and compassion.”

He considers it a “bad and frightening social phenomenon that poses a danger that reaches the point of destroying the foundations of society. It is a contagious disease, and is highly contagious. It begins with the individual, then the family that hosts him, and expands to include large groups,” according to the “Nirij Network for Investigative Reports.”

Groups that encourage unemployment, dependency and lack of production, thus wasting opportunities to develop themselves and exploit their energies, and placing restrictions on the dreams of their owners, so that they remain prisoners of collecting money to secure some of their material needs or their daily sustenance, nothing more.

Al-Naaman says that there is a delay in implementing Article (390) of Penal Code No. 111 of 1969, which considers begging “a misdemeanor punishable by imprisonment for a period not exceeding one year for adults. As for minors, they are placed in shelters and employment centers that do not have the minimum tools for employment.”

He believes that this legal text needs “activation, monitoring and continuous follow-up to provide these tools.” He continues: “Article (391) of the same law includes placing the beggar for a period not exceeding one year in an employment home if he is able to work, or placing him in a shelter, a home for the elderly or a recognized charitable institution if he is disabled and does not have money to be taken from, provided that his joining the appropriate place for him is possible.”

He believes that this article: “talks about tools that do not exist or that do not serve the purpose if they do exist, and there is no capacity to accommodate the large numbers of beggars if they are deposited to implement the rulings issued against them.”

The head of the Strategic Center for Human Rights in Iraq, Fadhel Al-Gharawi, estimates the number of beggars in the country at more than 500,000, most of whom are minors and women. He says that 70% of begging is organized crime, 20% is electronic begging, and 10% is traditional begging. He says that the latest forms of begging are: “electronic and health begging, and cover-up to establish humanitarian or social projects.”

He warned against foreign begging in Iraq, noting that it is “the most dangerous form of human trafficking” and that organized crime gangs are behind it, which he says have exploited the legal, security and economic conditions in Iraq to “activate the begging trade there.”

He added: “Organized crime gangs bring foreign beggars into Iraq under several pretexts, including labor, tourist and religious visits, and under the cover of refugee status.” He also indicated that most of the nationalities of foreign beggars are from Asian countries, most of them from Bangladesh, while Syrians come in first place among Arab beggars, he said.

It is noteworthy that the Ministry of Interior had deported more than 10,000 foreign beggars during the years 2023 and 2024 and returned them to their countries, while there are large numbers of them still inside Iraq without there being accurate statistics on their numbers and nationalities.

Causes Of The Phenomenon

In a study prepared by Karar Haider Hassan, entitled (The Phenomenon of Begging and Its Impact on National Security), published on the website of the Nahrain Center for Strategic Studies affiliated with the National Security Advisory in the Prime Minister’s Office on June 27, 2024, several reasons were identified behind the “exacerbation” of what he described as the phenomenon of begging in Iraq, including:

Poor economic conditions, widespread poverty and unemployment. Conflicts and wars, resulting in population displacement and the loss of many of their jobs and properties. Weak and unstable educational system, causing high rates of illiteracy and ignorance. Weak effective social programs to support the most vulnerable groups in society.

The study also pointed out the most common types of begging in the country, such as direct individual begging by asking for money or indirect begging by offering simple goods such as tissues and then begging passersby to buy them. Family begging and seeking sympathy through children, organized begging (begging gangs) and seasonal begging, during holidays and religious occasions.

In his study, Karar pointed out a new type of begging that has emerged in recent years, called “electronic begging,” which is done over the Internet, through some people exploiting social media and websites to request financial assistance by publishing touching stories about the family’s situation, such as one of its members being afflicted with a dangerous disease.

The study pointed out the dangers of begging on society, such as distorting its public image and increasing the feeling of insecurity among the population, and causing a burden on the local economy due to the presence of dependent individuals who depend on others instead of working, as it also contributes to increasing crime rates and the use of children in illegal work.

Accordingly, the phenomenon of begging affects national security, according to the study, because it is linked to the high crime rates in cities, especially if it is reinforced by the phenomena of unemployment and poverty as “two main drivers,” and that “shoplifting and pickpocketing are among the most prominent crimes associated with begging.”

Also, children are exploited in begging, which may lead to children entering the “world of organized crime or drug trafficking.” Moreover, beggars live in poor health conditions, which increases the possibility of the spread of diseases and epidemics. Begging affects the opportunities for developing tourism, as it affects the country’s image in front of foreign visitors.

A Crime That Leads To Other Crimes

Judge Jassim Mohammed Al-Moussawi describes in an article the phenomenon of begging as dangerous, and its causes are social or economic, and most of them are inherited professions, and they may be “individual violations committed by individuals or within groups or organized categories, and they may be within organizations that may extend beyond borders.”

He believes that it is an introduction to committing many crimes such as: “violating the sanctity of homes and thefts, all the way to drug trafficking and abuse.”

He says that the Iraqi legislator addressed the crime of begging in Penal Code No. 111 of 1969, as amended, in Chapter Eight under Social Crimes / Section Eight in Articles (390-392) and allocated penalties for it specific to “the adult beggar, the juvenile, and whoever tempts a person to beg.”

He also points out that the Anti-Human Trafficking Law No. 28 of 2012 identified eight forms of human exploitation, including begging, as the law considered the perpetrator’s exploitation of the victim and pushing him to beg as “a crime of human trafficking, as well as the forced kidnapping of children and adults and their introduction into organized crime gangs and forcing them to practice begging.”

Sondos Nouri Hassan, who holds a master’s degree in criminal law, warns that the phenomenon of begging has begun to take “more criminal and professional forms and is now being committed by organized international criminal groups,” saying that they lure children to go outside their parents’ control and then exploit them in begging.

The issue may reach the point of kidnapping the juvenile, deliberately causing physical disabilities to the person and then exploiting him in begging to elicit emotions, and that there are “organized gangs behind begging and preferring homeless women and children and hiding behind them more dangerous phenomena such as organ trafficking, drugs and prostitution.”

Because of its seriousness, Sondos says, national criminal legislation has played its role in combating it, by criminalizing and punishing it, and has followed a criminal policy in line with the degree of seriousness of this crime and its negative impact on society.

Including Article (390) of the Iraqi Penal Code No. 111 of 1969, as amended, which punishes the perpetrator of the act of begging with imprisonment, with mention of some aggravating circumstances: “However, it did not stipulate the crime of begging gangs, nor did it make the commission of begging by gangs an aggravating circumstance.”

Anti-Begging Campaigns

On March 20, 2023, the President of the Supreme Judicial Council, Dr. Faiq Zidane, issued Circular No. 379 to the Presidency of the Public Prosecution and all presidencies of the Courts of Appeal, setting March 22 and 23, 2023 as the date for launching an integrated campaign to combat human trafficking in Iraq with the aim of ending the phenomenon of begging “because of the threat it poses to security.”

It seems that this campaign or other campaigns that followed it, organized and participated in by various parties, did not achieve success, as the phenomenon of begging continued and worsened, which prompted the National Security Council in early 2024 to draft a (National Policy to Combat Begging) in cooperation with the Ministry of Labor and a number of other ministries.

It is a policy that is in the process of being approved and ratified before being presented to the Prime Minister’s Office for launch and generalization. According to a source in the Ministry of Labor and Social Affairs, the policy “includes the tasks of performance, leadership, follow-up, evaluation, identifying points and areas of strength and weakness, and support,” and that its main goal is “to provide a decent life for citizens who are unable to work.”

It is noteworthy that the Department of Citizens’ Affairs in the General Secretariat of the Council of Ministers had commissioned the Ministry of Labor in 2015 to form a department specialized in combating begging, and committees emanating from it were formed in the Iraqi governorates, headed by deputy governors and including representatives from a number of ministries and institutions.

Member of the Security and Defense Committee in the Iraqi Parliament, Ali Nima, stated that the Ministry of Interior, through its various formations, is continuing a broad campaign to combat begging in the governorates, listing the reasons for this campaign: “The first is to address a negative phenomenon, in addition to avoiding greater risks, as some beggars are tools for crime and many thefts have been recorded, in addition to the security dimension included in the campaign,” adding, “Beggars can be exploited in several dimensions.”

He points out that there are beggars of Arab and Asian nationalities who are already present in Iraq and that “their numbers are large and they enter the country annually through smuggling or through a limited-term travel visa, then they try to disappear from sight and later resort to begging, especially since some of them come from poor countries.”

He pointed out that the security services have monitored crimes of theft and armed robbery involving some foreign nationals who do not have entry visas. He said that foreign beggars are present in large numbers in the holy cities.

These people prefer begging to working, because begging provides, without any effort, several times what the wages of an inexperienced foreign worker, which range between $300 and $500, provide. Ali Hussein, the owner of a building materials store in Baghdad, says, “A beggar only needs to stand for four or six hours a day in a crowded street or in front of a mosque to get more than $30.”

The Ministry of Labor and Social Affairs, in cooperation with the Ministry of Interior, participated in the campaign that was launched on September 9, 2024, in order to carry out its duties in caring for those who deserve it. According to the Director of the Media, Arab and International Relations Department at the Ministry, Kazem Al-Atwani, it is collecting data on beggars who are arrested by the Ministry of Interior and conducting field research to verify their conditions. “The procedures for those who deserve it are being completed to include them in the social protection allowance.”

But the social welfare salary does not convince the majority of eligible beggars to stop begging, as it averages $200.

The Ministry of Labor is currently limited to dealing with beggars who are arrested and placed in the Ministry of Interior centers, and no one else. Al-Atwani points out that “a written pledge is taken from the beggar that he or any of his family members will not return to the profession of begging, and legal measures will be taken against anyone who returns to it.”

He stressed that the recent campaign comes as a continuation of the Ministry of Labor and Social Affairs’ work in “eliminating poverty after covering more than 7,000 individuals with social protection benefits.”

Social Welfare Salaries

 Member of the Iraqi Council of Representatives, Haifa Al-Jaberi, addressed, in letter No. 1153 on May 13, 2024, the Ministry of Labor and Social Affairs, to include beggars in social welfare salaries “after obtaining pledges from them not to beg.”

They have already been included, according to the Director of the Homelessness and Begging Department at the Ministry of Labor, Haitham Aboud, who confirmed that beggars between the ages of 15 and 45 are now included in the salaries of the social welfare network, a measure taken by the ministry as part of plans to combat the phenomenon of begging in 2024, he said.

He stated that beggars will also receive soft loans, while “the files of minors and the elderly will be referred to the social protection system and housed in designated homes.”

The Ministry of Labor has set the welfare salaries as follows: A married citizen who supports a family of four people is paid a salary of 420 thousand dinars per month, while a married citizen who supports a family of three people is paid a salary of 315 thousand dinars, while the one who supports only one person, the salary for the two people is 210 thousand dinars, so he is paid only 105 thousand dinars.

Although the Ministry of Labor does not provide figures for the number of beggars who have benefited from the social welfare stipend program, Haitham Aboud expressed disappointment at the general lack of response from beggars to his ministry’s program. “Many of them return to the streets after a short period,” he said. He believes the reason for this is the organized crime gangs that control them.

He implicitly held citizens responsible for this by calling on them not to give money to beggars, “but rather to donate to well-known charitable organizations through the boxes located in the streets.”

He stressed the ministry's intention to collect accurate information about beggars and enter it into specialized databases to classify them according to different categories, pointing out the adoption of plans to include them in training courses and workshops "which will give them the opportunity to obtain soft loans that will help them start small projects."

As for beggars who are unable to work, such as minors, the elderly, and people with special needs, Aboud says that they “will benefit from social protection systems and will be housed in orphanages and nursing homes.”

But the effectiveness of this step is questioned by some officials. The head of the Social Authority at the Ministry of Labor, Ahmed Khalaf, stated in press statements that 90% of beggars have social welfare salaries, and they are among seven million Iraqis who receive it. This is an implicit indication of the futility of the matter, as the welfare salary does not prevent the continuation of begging.

Near a medical clinic complex on Karrada Street in the capital, Baghdad, a woman sat on the sidewalk with her two young children, wrapped in a tattered black abaya, and hiding her face with the edge of her black headscarf. She refused to give her name to a young man who was about to throw a thousand dinars into her son’s lap. She glanced reproachfully out of the corner of her eye, doubting the motives behind the question.

She said she was not committing a crime by asking others for charity to help her raise her five children. She pointed to the two little ones sitting on the floor next to her: “I have three older ones.”

The woman, who said she was over 40, spoke of the great difficulties she had been facing for about two years, when her husband went to prison on a drug-related charge, and she had to find money to cover the cost of living, and she raised her hands in prayer for someone who would allow her and her children to live in an unfinished building outside the capital, Baghdad.

She says that she knows about the social welfare salary given to people like her: “It is not enough.. I have no choice but to go out on the street.. I do not have a certificate to find work, and charitable relatives cannot help you permanently.”

Partial Solutions

Chairwoman of the Women, Family and Childhood Committee in the House of Representatives, Dunya Al-Shammari, confirmed the addition of the “begging” paragraph to the draft of the Child Protection Law, which she said would be enacted in the next phase after years of postponement. She stated that “the draft law is sensitive and must be given great attention because it differs from other laws in terms of scrutinizing every paragraph and word in it, so that it is not misunderstood or becomes a loophole that can be used to commit violations by any party.”

She added: “Iraq needs a law that protects the weakest group in society, which is children, from everything they are exposed to,” and she acknowledges that the laws enacted after 2003 regarding the family and children “were not sufficiently sound to protect the child from all types of oppression or deprivation, whether electronic blackmail, begging, or domestic violence.”

Al-Shammari points out that the phenomenon of begging is increasing day after day despite the enactment of prohibitive laws and the holding of seminars and workshops that warn of its danger. “However, we see the exploitation of children in this phenomenon, which falls under the name of human trafficking, through the presence of groups that traffic them and force them to do so.”

Statements by members of the Parliamentary Committee on Children, as well as government officials, including those working in the Ministry of Labor and Social Affairs, confirm that addressing the phenomenon and its repercussions is very difficult, and that the solutions presented and proposed so far are not sufficient.

Dr. Abed Hashem, a social specialist, stipulates that economic conditions must be improved before embarking on any campaign to combat begging. “Not everyone is employed, and job opportunities are not available to everyone, so the government must work to reduce unemployment and poverty rates and create job opportunities by launching new productive projects and employing those who have been unemployed for decades, and they number in the thousands throughout the country.”

He added to this the implementation of effective social programmes that meet the needs of those who have lost their breadwinners, to rescue poor families and pave the way for their members to complete their studies, or teach them professions that enable them to earn appropriate sums of money, and direct specialised educational programmes to those who need them in cooperation with civil society organisations.

He says that the anti-begging campaign that was launched in the last part of 2024 was preceded by a campaign implemented in 2005 by five ministries: the Interior, Labor, Social Affairs, Human Rights, Justice, and National Security. It required placing elderly beggars in nursing homes, providing care for orphans in special state homes, and taking pledges from some of them not to beg again.

He continued: “Launching a new campaign means that the old campaign has failed, so there must be permanent measures, not temporary ones. A phenomenon of this size cannot be solved through campaigns, and the matter requires realistic plans to limit it at least.”

He also called for activating Article 93 of the Iraqi Penal Code 111 of 1969, by imprisoning adult beggars whose health condition does not prevent them from working, and for traffic police to contribute to informing the relevant authorities about beggars at street intersections and other places, and to crown all of this with intensive media support directed at citizens to discourage beggars by helping them, and to limit assistance to “those who deserve it, who are not professional beggars.”

(W, L) is in his early twenties, from the Rusafa side of the capital, Baghdad. He suffers from a complete inability to use his left leg as a result of a traffic accident he sustained in his childhood. He sits in front of his stall, which he says he uses as a front to protect himself from police pursuits as well as begging gangs, which he says are widespread in special areas that he controls.

He says he comes from a poor family and couldn’t complete his studies. He receives a social welfare salary, but it’s not enough to support his family, which consists of three sisters, his disabled father, and his sick mother. So he has to ask people for help, in addition to “selling these simple things of mine, why not?” He says, pointing to his stall, which contains two packs of gum, small tissues, and irons.

He warns that in addition to the begging gangs, there are drug gangs, and that some have offered to distribute or sell drugs to him, “but I refused,” he thinks as he looks at the passersby before continuing: “I get 10 or 15 thousand dinars a day sitting here, while they offer a lot of money. Honestly, I hesitate even to sell cigarettes to avoid problems, but I don’t know what will happen tomorrow. For the sake of my family and my future, I may be forced to do things that I don’t want to do now.”

https://economy-news.net/content.php?id=50246

MilitiaMan & Crew Iraq News-Central Bank Iraq-Monetary Stability Excellent-Budget Law 2023, 2024, 2025-Article 13

MilitiaMan & Crew Iraq News-Central Bank Iraq-Monetary Stability Excellent-Budget Law 2023, 2024, 2025-Article 13

11-25-2024

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=c82txJIGCxE

Seeds of Wisdom RV and Economic Updates Monday Evening 11-25-24

Good Evening Dinar Recaps,

BRICS: NEWS INDIA EXTENDS CBDC PAYMENTS TO NEW COUNTRIES

BRICS member India is strengthening its CBDC mobile payment ties with many more countries for cross-border transactions. Bloomberg reported that India is partnering with multiple countries in South Asia to process mobile payment systems. 

The countries include the Philippines, Sri Lanka, and its BRICS counterpart the United Arab Emirates (UAE). T Rabi Sankar, Deputy Governor of the Reserve Bank of India (RBI) confirmed the development at the conference in Cebu, Philippines.

In addition, BRICS member India has already maintained the CBDC payment agreement with Bhutan and Nepal. The RBI is collaborating with ASEAN countries to integrate the platform for all like-minded nations. For the uninitiated, India is among the first countries in the world to successfully launch the pilot batch of the CBDC testing.

BRICS country India is assessing the possibilities of launching the CBDC digital currency for government, retail, and institutional usage.

It is also studying the impact a CBDC currency could have on the overall economy, banking systems, and monetary policies. When asked about when the CBDC digital currency could be launched, Sankar said that India is not in a hurry. “We are in no hurry to roll it out immediately. Once we have some visibility of what the outcome or impact will be, we’ll roll it out. We don’t keep a specific timeline for that.”

@ Newshounds News™

Source: Watcher Guru

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WHY XLM: IS STELLAR THE MOST UNDERRATED CRYPTO?

▪️Stellar has seen a significant price surge, sparking renewed interest in its potential.

▪️Stellar's co-founder, Jed McCaleb, emphasizes its real-world utility, advanced features, and potential to revolutionize global finance.

▪️Stellar's high transaction volume, native stablecoins, decentralized exchange, and secure smart contracts ensure it as a strong player.

The Stellar market has soared by an astounding 478.057% since November 5, making waves across the crypto community. This unexpected price surge has left many asking: Could Stellar be one of the most underrated projects in crypto?

Co-founder Jeb McCaleb recently shared insights that reveal the true power behind Stellar—insights that most people have overlooked until now. What makes this project so special? Let’s dive deeper and uncover why Stellar might just be more than meets the eye.

Steller’s Growing Popularity
Stellar’s popularity has grown significantly in recent years, with the sharp rise in XLM’s price this month showing the growing interest in the project. While McCaleb acknowledged this increased attention, he pointed out that many people still don’t fully understand the potential of Stellar.

Despite the buzz, he believes the project remains underrated.

Stellar vs. Ethereum
One of McCaleb’s key points was about the scale of Stellar’s daily transactions. He noted that Stellar handles at least ten times more transactions daily than Ethereum, and a large portion of these transactions involve real-world payments.

This impressive transaction volume, combined with its practical use cases, is a major reason for the recent rise in XLM’s price.

Stellar’s Powerful Features
Stellar offers several unique features that have contributed to its popularity and price surge:

▪️Native Stablecoins: Stellar supports its own stablecoins, which makes it perfect for cross-border payments.
▪️Built-in Decentralized Exchange (DEX): Stellar’s integrated DEX allows easy token swaps without the need for third-party exchanges.
▪️On-Chain Governance: The project includes built-in governance features, ensuring more transparency and security.
▪️Safer Smart Contracts: Stellar’s platform allows secure smart contracts, making transactions safer.
▪️Passkey and Multi-Signature Support: The network enhances security with passkey support and native multi-signature features.

McCaleb also emphasized Stellar’s efficiency, noting that the platform supports fast transactions with near-zero fees. This cost-effectiveness and speed make it a top performer in the crypto space, and a big reason why Stellar is gaining more attention.

The Future of Stellar
McCaleb described Stellar as a powerful payment system that fits perfectly with the true purpose of cryptocurrency. He hopes that both businesses and individuals will soon recognize the value of using Stellar for financial transactions. He also predicts that Stellar will play a major role in the global financial system in the near future.

FAQs
What makes Stellar XLM unique?
Stellar’s unique features include native stablecoins, a built-in DEX, on-chain governance, safe smart contracts, and a scalable, secure platform ideal for financial transactions.

Is Stellar XLM underrated?
Despite its strong fundamentals and growing popularity, Stellar is often considered underrated due to a lack of widespread understanding about its real-world impact and capabilities.

What’s clear is that Stellar’s journey has only just begun, and its impact will soon be seen in the crypto industry.

@ Newshounds News™

Source:  CoinPedia

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AUSTRALIA BEGINS CONSULTATION ON OECD CRYPTO REPORTING FRAMEWORK

Australia’s Treasury seeks input on implementing the crypto-asset reporting framework within its domestic tax laws.

Australia’s Treasury Department released a consultation paper seeking feedback on applying an international reporting standard for cryptocurrency transactions. The initiative is part of a broader effort to enhance tax transparency and combat global tax evasion.

The consultation, launched on Nov. 21, focuses on implementing the Organisation for Economic Co-operation and Development’s (OECD) Crypto-Asset Reporting Framework (CARF).

The OECD framework sets standardized rules for collecting tax data on crypto-asset transactions and sharing that information among tax authorities.

The paper presents two options for implementing CARF: adopting the framework into Australian tax law or taking a more tailored approach that would target the needs of the Australian Taxation Office.

Adopting an international standard on crypto reporting
In 2022, the OECD — an intergovernmental organization creating international standards — developed and released CARF to combat global tax evasion using crypto assets.

The OECD developed CARF in 2022 to combat global tax evasion through crypto assets. In 2023, 47 countries, including Australia, committed to adopting the framework. The initiative is expected to enhance visibility into crypto transactions and bolster international information exchange.

Australia is now moving toward integrating CARF into its tax law by consulting with stakeholders.

OECD’s CARF will mandate crypto exchanges and wallet providers to report specific crypto transactions to the relevant tax authorities. The information collected would include digital asset purchases.

According to the consultation paper, CARF reporting requirements may start in 2026. The Treasury stated:

“Subject to a final decision of Government, it is envisaged that CARF reporting requirements would commence from 2026, to ensure the first exchanges between the ATO and other tax authorities could take place by 2027. This timeframe would also be subject to future legislative priorities.”

The Treasury also said this timeframe will provide enough lead time for reporting crypto providers to update their systems.

Other countries implementing CARF into tax laws
Other jurisdictions have also started integrating CARF into their domestic laws. On April 18, Canada announced it would apply the framework by 2026.

 On May 18, Switzerland issued a public consultation for applying the standards to its local tax laws. The country also intends to implement the framework to enhance tax transparency for crypto assets.

Meanwhile, New Zealand introduced the framework in a new tax bill. On Aug. 27, the New Zealand Minister of Revenue submitted a proposal to implement the framework into its laws. Crypto providers are expected to collect information starting on April 1, 2026, and submit them by June 30, 2027.

@ Newshounds News™

Source:  CoinTelegraph   

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WISDOMTREE FILES FOR XRP ETF VIA DELAWARE TRUST, JOINS BITWISE, CANARY CAPITAL IN THE RACE

Moving beyond Bitcoin, asset managers are now eyeing towards XRP as the next big player in the ETF space. In a latest develoment, the Global ETF provider WisdomTree has filed to launch an XRP ETF in the U.S. notably, this is the third filing to establish a spot XRP ETF in the country. Moreover, the XRP price soared over 10% after the announcement.

Eleanor Terrett Confirms The Legitimacy
The trust filing represents a preliminary step in the ETF launch process, preceding a formal application to the SEC.

The update was shared by Fox journalist Eleanor Terrett. Terrett also confirmed the legitimacy of the filing with WisdomTree, which manages over $100 billion in assets.

 Also, just recently, the organization introduced its physical Ripple ETP in Europe. The latest Delaware filing shows the firm’s growing interest in Ripple’s native token.

Additionally, two other firms have filed for an XRP ETF. In October, Bitwise and Canary Capital filed for spot XRP ETFs with the U.S. SEC.

XRP Surges 10%
The news has driven a notable price surge for XRP, with its value rising over 10% in intraday trading. Many market experts anticipate that if XRP breaks out above $1.50, its price could rally to over $2 in the short term.

Renowned analyst Armando Pantoja in a bullish outlook has suggested that XRP could surge to $8-$30. This optimism stems from expectations that Ripple’s long-standing legal battle with the U.S. SEC may resolve favorably in early 2025 in line with Trump’s return and Gensler’s exit.

With SEC Chair Gary Gensler set to resign, speculation is mounting around the future of XRP ETFs, particularly due to the Ripple SEC case. Experts believe that Gensler’s departure could lead to a relaxation in regulations potentially easing the path for XRP ETFs under new leadership.

@ Newshounds News™

Source: CoinPedia 

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Iraq Economic News and Points to Ponder Monday Afternoon 11-25-24

Al-Alaq: The Monetary Situation In Iraq Is Excellent And Our Reserves Support The Stability Of The Exchange Rate

Time: 2024/11/25  Read: 1,911 times  {Economic: Al Furat News} The Governor of the Central Bank, Ali Al-Alaq, confirmed today, Monday, that the monetary situation in Iraq is very excellent, noting that “the increase in the volume of reserves enables us to support the exchange rate and achieve monetary stability.”

Al-Alaq added in a press statement that the Central Bank is distinguished by its ability to "respond to providing the country's needs for currency," indicating that "foreign transfers for trade purposes are proceeding smoothly after the implementation of the new system."

Al-Alaq revealed that "the Central Bank will launch a new mechanism for travel or treatment transfers next year," stressing that "there are agreements with four companies to launch a new mechanism for travel or treatment transfers."   LINK

US Ambassador: Our Partnership With Iraq Continues And We Are Committed To Supporting These Sectors

Monday 25 Nov 2024 | Economic Number of readings: 112   Baghdad / NINA / The US Ambassador confirmed the continuation of the US government's partnership with the Iraqi government and working hand in hand with various sectors, and providing sustainable energy to ensure a better future for future generations.

“Launching this program will help us secure Iraq’s future,” said US Ambassador Alina Romanowski during the launch of the Universal Access Program to Improve Water and Sanitation Services in Iraq today, Monday, in the capital Baghdad. “Launching this program will help us secure Iraq’s future. Last September, the US government, through the US Agency for International Development and UNDP, helped Iraq with existing strategies to protect the environment and diversity from climate change.” She added

“Launching the Universal Access Program to Water and Sanitation Services and Achieving Food Security for the Most Vulnerable People is an important strategic step. We believe that the importance of access to clean water in Iraq may pose a challenge to some citizens in the countryside or the city. We also see that there are many challenges that we can clearly see.”

She explained, “Climate change, unsustainable irrigation systems, and water pollution are emerging challenges to the environment and also affect people’s lives. Therefore, we are working today to invest in water and sanitation, and we can help build the basic infrastructure for this issue.”

She added, “The US government, through the US Agency for International Development, is cooperating today with UNICEF to launch this program, which will help provide financial grants to launch The comprehensive access to water and sanitation services program and the management of the water file in its entirety, will also help in the integration of various parties, including the international community, the public sector and the private sector, hand in hand to work with each other,”

indicating that “this partnership is to enhance water and sanitation services that help people to access safe drinking water, and there are 5.9 million people who may not be able to access this clean safe water.”

The US Ambassador stressed the need for community leaders, the public and private sectors, and all citizens to cooperate to rationalize water use, and the importance of this water for everyone.

She continued, "Since 2017, USAID has contributed to various programs and played an important role in helping 12 million citizens access safe water, and has also helped various water projects. For the period 2020-2023, USAID has also contributed to the reconstruction of 10 desalination plants in Basra, as well as helping five million people in Basra access healthy water."

She added, "This long-standing partnership with the Iraqi government, and cooperation with UNICEF since the beginning of this year, has helped the US Agency secure 18 million people to enhance access to water as well as various water initiatives, how to ensure the availability of water and its optimal use, and better manage water resources."

She pointed out that $15 million was provided last June to help food programs, enhance Iraqi community preparedness, and reduce the impact of climate on water projects, in addition to other initiatives in which women and youth contributed, indicating that “access to water is an important goal in the sustainable development agenda, and represents a commitment between our two countries to protect cultural and knowledge exchange.”

She added that “the importance of the sustainable support strategy for water management falls within the framework of an important environmental need that may help today in addressing water scarcity, addressing the problem of food and water security, and confronting climate change,” stressing that “the support that we are all committed to today will help us in various fields through various partnerships, projects, and assistance.” /End5   https://ninanews.com/Website/News/Details?key=1171022

The Monetary Position Is Very Excellent".. Central Bank: We Will Launch A New Mechanism For Travel Or Medical Transfers

Economy  | 11/25/2024  Mawazine News – Baghdad  The Governor of the Central Bank, Ali Al-Alaq, announced today, Monday, that the monetary situation in Iraq is very excellent, and while he indicated that external transfers for trade purposes are proceeding smoothly after the implementation of the new system, he confirmed the existence of agreements with 4 companies to launch a new mechanism for travel or medical transfers.

Al-Alaq said, on the sidelines of his participation in the opening of the activities of the Arab Sustainable Development Week Forum in its fifth edition, held in the Egyptian capital, Cairo, and followed by "Mawazine News", that "there are trends within the government aimed at diversifying and strengthening the national economy, as the banking sector does not flourish except when there is a diverse production base,"

indicating that "Iraq suffers from heavy dependence on economic activity related to the oil sector, which contributes mainly to the transfer of oil resources to the trade sector, and this constitutes a major imbalance in the structure of the economy."

He continued, "In other words, oil revenues are transferred to building the economies of other countries through the large volume of imports, and this requires the necessity of activating the banking sector to provide the necessary financing to establish real projects in the basic economic sectors, especially in the industrial and agricultural sectors, in addition to other sectors."

Al-Alaq added: "I believe that this approach will contribute to reducing dependence on oil resources, in addition to providing job opportunities and real economic growth."

He stressed that "the monetary situation in Iraq is currently very excellent," noting that "the high volume of foreign reserves enables the Central Bank to support and defend the exchange rate and achieve monetary stability, despite the difficult circumstances surrounding the countries of the region."

He explained that "the Central Bank is working to find ways and means to meet all the needs of the country, citizens and the business sector for foreign currency."

He continued by saying: "Whenever the necessary conditions and factors are available for transfer operations or demand for foreign currency, the Central Bank is ready to deal with this request without any fears or concerns, which contributes to maintaining stability."

He stressed that "the Central Bank is currently distinguished from the rest of the countries in the region by its ability to respond to providing the country's needs for foreign currency, whether for the public or private sectors or even the civil sector, to meet various types of requests for foreign currency."

He pointed out that "there is a historical shift taking place in the framework of foreign transfers and meeting demands for the US dollar, as there were many observations that necessitated changing the procedures and policies related to dealing with and providing foreign currency."

He added, "The Central Bank has implemented a new system for foreign transfers to ensure their fluidity and transparency. Despite the challenges and difficulties that faced the implementation of these procedures at the beginning, we have overcome these obstacles,

and today the process of foreign transfers for commercial purposes is proceeding smoothly, which explains the general control over prices and inflation, as the Central Bank continues to provide dollars for trade at the official price."

He continued, "New channels have also been opened for transfers using other currencies, such as Turkey, India and China, in addition to European countries. This will make the process of foreign transfers more flexible and streamlined, while ensuring transparency and oversight that enhances trust and credibility in the operations we carry out."

Regarding providing remittances for citizens for various purposes, such as travel, treatment, or any legitimate transfers abroad, Al-Alaq confirmed, "Next year, we will launch a new method to expand and enhance these operations, just as we did for commercial transfers."

He pointed out that "there are also current agreements with relevant companies such as (Visa, Mastercard, MoneyGram, Western Union) to establish a new framework for implementing these operations, which will constitute another shift in controlling these operations."

Al-Alaq added, "Next year or the beginning of next year 2025 will witness the completion of the current procedures, and we seek to provide reassurance, especially with some people's questions about the fate of transfers after the completion of the electronic platform at the end of this year 2024."

“There is no sudden transition, but rather a gradual transition that began in 2024, where the banks’ relationship was transferred directly to correspondent banks without passing through other links, and the process has been completed with continued success,” he continued, stressing that “more than 95% of this goal has been achieved, and this process will be completed successfully within the next two weeks,” noting that “there is international anticipation to celebrate this occasion.”

https://www.mawazin.net/Details.aspx?jimare=256905

Find Out The US Dollar Exchange Rates In The Iraqi Markets With The Closing Of The Stock Exchange

Economy  | 11/25/2024  Mawazine News – Baghdad  The US dollar exchange rates stabilized on Monday in the markets of the capital Baghdad and Erbil, the capital of the Kurdistan Region, with the closure of the country's main stock exchange.

The dollar prices stabilized with the closing of the Al-Kifah and Al-Harithiya stock exchanges, recording 150,250 dinars per 100 dollars, the same prices recorded this morning.

As for the selling prices in exchange shops in the local markets in Baghdad, they stabilized, as the selling price reached 151,250 dinars per 100 dollars, while the purchase price reached 149,250 dinars per 100 dollars.

In Erbil, the dollar also stabilized, as the selling price in exchange shops reached 150,200 dinars per 100 dollars, while the purchase price reached 150,100 dinars per 100 dollars.

https://www.mawazin.net/Details.aspx?jimare=256913

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Monday Afternoon 11-25-24

Good Afternoon Dinar Recaps,

NEW OIL-RICH MIDDLE EASTERN COUNTRY EXTENDS SUPPORT TO BRICS

The BRICS alliance is gaining the support of oil-rich Middle Eastern countries in its aggressive global push towards de-dollarization. The bloc inducted oil exporting nations like the UAE, Egypt, and Ethiopia during the 15th summit in South Africa. It also invited Saudi Arabia to join the group but the Kingdom is yet to officially decline the offer.

As of 2024, the BRICS alliance controls nearly 30% of all the global oil supply. BRICS received a boost in the arms after it inducted oil-exporting countries into the alliance. It is now looking to take control of the oil and gas sector and push local currencies for cross-border transactions.

BRICS: Oil-Rich Bahrain Extends Support to the Alliance
Oil-rich Middle Eastern country Bahrain has extended full support for the BRICS alliance. 

Despite not receiving an invitation to be a part of the bloc, Bahrain has always attended the summits and programs held by the group. Bahrain did not receive an invitation to be a part of the ‘Partner Countries’ either which was sent during the 16th summit.

“We (Bahrain) take part in the BRICS Plus group’s activities. We always participate in all BRICS Plus meetings,” said the Middle Eastern nation’s Ambassador to Russia Ahmed Al Saati. 

The oil-rich nation is keen on supporting BRICS without being a part of the alliance. “This is an international association. An invitation should come from the organization itself. However, we have always been participating; we attended the Nizhny Novgorod event,” the Ambassador explained to Russian news outlet Tass.

The development indicates that emerging economies, including oil-rich nations, are keen on supporting BRICS. They find it to be an alternative to the Western-dominated global financial sector. This puts the Western hegemony at risk as developing countries are seeking alternative options to the US dollar.

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

RIPPLE NEWS: $3.8B TOKENIZED FUND LAUNCHES ON XRPL

Ripple and Archax just made a big move that could change how institutional finance works. Together, they’ve launched the first ever tokenized money market fund on the XRP Ledger (XRPL). It’s based on abrdn’s $3.8 billion US Dollar Liquidity Fund, and it’s a huge deal for anyone watching the rise of tokenized assets.

A Major Step by Ripple
This isn’t your everyday blockchain project. Ripple has invested $5 million into abrdn’s Lux fund tokens, signaling its serious commitment to real-world asset (RWA) tokenization. ]

Archax, being a UK-regulated exchange, adds the compliance and trust needed for institutional adoption. Ripple’s XRPL technology brings in efficiency, aiming to make financial transactions smoother and cheaper.

The best part? This is the first tokenized fund on XRPL. That means the fund gets all the benefits of blockchain, like fast settlements and less reliance on middlemen. It’s not just innovation—it’s problem-solving.

Why Tokenized Assets Are a Big Deal
Tokenized funds are growing fast. They already manage over $1 billion in assets, and experts believe this could skyrocket to $16 trillion by 2030. Ripple, abrdn, and Archax are getting ahead of the curve, setting the stage for how tokenized assets could work in the future.

And there’s more. Duncan Moir from abrdn says this isn’t just about technology—it’s about saving time and money. Moving funds on-chain means faster processes and fewer delays. Ripple’s Markus Infanger agrees, calling XRPL a leader in helping institutions scale their operations.

What to Expect Next
This partnership is just the start. As tokenized assets grow, more institutions will likely jump on board. Ripple and Archax are leading the way, showing how blockchain can reshape finance.

For Ripple, this isn’t just a win. It’s a statement. They’re proving blockchain isn’t just about crypto—it’s about transforming the way money moves globally.

@ Newshounds News™

Source:   CoinPedia  

~~~~~~~~~

WHY IRAQ’S FINANCIAL REVOLUTION IS A BIG DEAL  |  Youtube

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Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

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Everything You’ve Been Taught About MONEY Is WRONG

Everything You’ve Been Taught About MONEY Is WRONG

Taylor Kenny:  11-24-2024

Discover the truth about money, currency, and debt in this eye-opening video.

Learn how fiat currency erodes your wealth, why inflation benefits governments but punishes savers, and why true money, like gold, remains the ultimate store of value.

If you're concerned about protecting your financial future, this is a must-watch!

CHAPTERS:

00:00 - Introduction: Is everything you know about money a lie?

00:26 - Currency vs. Money: The critical difference

01:21 - How fiat currency is tied to debt

02:36 - Financial wealth vs. real wealth

 04:10 - Why fiat currency loses value

05:45 - Inflation: Who benefits and who suffers?

07:30 - Protecting yourself with gold

https://www.youtube.com/watch?v=NEEe69BcaW4

Iraq Economic News and Points to Ponder Monday AM 11-25-24

Has “Dollar Control” Renounced Its Faith?
 
Economy    2024-11-24 |Source:  Sumerian   1,621 views   The dollar in Iraq : two decades of “leakage” and two years of “censorship”
 
The Central Bank of Iraq has concluded about two years since the start of tight control over the dollar through the electronic platform that was supposed to be a filter gate and a guardian eye for the green currency after years of piracy operations through innovative means through which the dollar leaked out of Iraq.
 
Currency “washing” window... 20 years and the Central Bank is an intermediary for “launderers” 

For about 20 years, the Central Bank turned into an intermediary between the source of dollar the US on the one hand, and the money launderers on the other hand... and  with forged bills and fictitious travelers, the dollar pirates were able to leak between 350 and 500 billion dollars over two decades, but,
 
in a moment of sudden awakening... it was discovered Everyone finally realizes that robbery operations, money laundering scandals , smuggling, and financing of suspicious countries and facilities are taking place with direct or indirect contributions from... The Central Bank of Iraq and several banks, whether with his work or without his knowledge.
 
75% of sales are “suspicious”... The electronic platform reduced sales from 5 to 1 billion dollars per month
 
The electronic platform began to be implemented in early 2023, but the actual restriction on the dollar began in November 2022, which led to a resounding decline from a monthly average of 4 to 5 billion dollars, to only about one billion dollars per month, which means that about 75% of dollar sales were unsuccessful. In the transparency test.
 
Sales returned to about $6 billion per month after 8 months
 
After that, sales returned to rise in mid-2023, recovering to their monthly average between 5 and 6 billion dollars, which the Central Bank interpreted as coming after the banks participating in the auction were able to improve their performance and provide sufficient evidence about the final fate and the legitimate recipient of these dollars.
 
Signs of “suspicious sales” return.. Central dollar arrives at “banned” banks
 
Two years of long testing, but the lesson seems to have not been understood well...
 
It seems that the process of selling the dollar has returned to the old days and has abandoned its new, “straight” religion.
 
According to members of the Iraqi Parliament, the Central Bank has sold quantities of dollars to banks prohibited from obtaining It is supposed to
 
banks Iraq's ...half of them are banned from the dollar, and 25% of them take over the auction
 
has Iraq more than 60 banks, half of which are prohibited from dealing in dollars, and
 
out of about 30 remaining banks, only between 12 and 16 banks participate in the currency auction, as
 
these banks control the currency auction and its external transfers.

Al-Sudani considered selling more than $200 million a day “irrational” and not suited to the market’s needs
 
Not only the MPs’ statements, but the numbers themselves raise doubts and doubts.
 
At the beginning of 2023, Prime Minister Muhammad al-Shia’ al-Sudani considered the previous sales of the dollar, which amounted to between 200 and 300 million dollars per day, to be exaggerated numbers, and not commensurate with the volume of supposed imports. After sales decreased to Only 50 million dollars a day.
 
Al-Sudani concluded that the market does not show the disappearance of some goods or confusion in trade, which proves that the previous amounts of sales are illogical.
 
300 million dollars a day...sales return to their “suspicious” level
 
But... after less than one year, how much are dollar sales today?... Nothing new...
 
Sales have returned to the levels that Al-Sudani himself criticized, as dollar sales currently touch $300 million per day, even though imports in the market do not show a significant change. About the previous...what happened?
 
$8.1 billion.. The Central Bank breaks a sales record in October 2024  
 
Perhaps no one knows exactly what is happening... except that the Central Bank has begun to break records in its monthly sales of the dollar.
 
Last October, the Central Bank broke a record in dollar sales amounting to more than 8 billion dollars, a number it had never recorded before.
 
In general, the year 2024 was the year of breaking records in dollar sales.
 
In some months, sales reached more than 7 billion dollars, after the normal average sales in the past two years were at best. It does not exceed $6 billion per month.
 
What the Central Bank sold in 2023 in dollars, it achieved in just 9 months in 2024.
 
In conclusion, in 2023 the Central Bank sold about 55 billion dollars, while in 2024 and until October, sales amounted to more than 65 billion dollars, and with greater scrutiny,
 
what the Central Bank sold during the entirety of 2023, it sold within only 9 months in 2024.
 
https://www.alsumaria.tv/news/economy/507317/هل-ارتدت-رقابة-الدولار-عن-دينها؟   

The Central Bank Moves Its Secret Vaults To Its New Building...An Explanation Of The Truth Of The Claim
 
Sweeteners | Yesterday, 21:42 |Baghdad today – Baghdad  Today, Saturday (November 23, 2024), an informed source revealed the fact that the  secret cabinets of the Central Bank of Iraq were transferred from the old building to the new one on Abu Nawas Street in Baghdad. The source told "Baghdad Today",
 
"The information that spoke about the transfer of secret tanks and tanks that were underground in the old Central Bank of Iraq building on Al-Rashid Street to the new building on Abu Nawas Street during the census curfew is absolutely incorrect." He added,
 
"The final touches in the Central Bank of Iraq building are still being worked on by the relevant authorities, and transferring anything to the new building is normal and does not involve any secrecy.
 
It is all taking place under the supervision of the relevant authorities, whether security or otherwise."
 
Social networking sites circulated information about the transfer of secret tanks and tanks that were underground in the old Central Bank of Iraq building on Al-Rashid Street to the new building of the bank on Abu Nawas Street during the days of the census curfew.    https://baghdadtoday.news/262598-البنك-المركزي-ينقل-خزائنه-السرية-لمبناه-الجديد.-توضيح-لحقيقة-الادعاء.html   

The Prime Minister's Advisor Announces The Assignment Of Two International Companies To Study The Iraqi Banking Market
 
economy    Yesterday, 15:18  Baghdad - INA - Amna Al-Salami  The financial advisor to the Prime Minister, Mazhar Muhammad Salih, announced today, Sunday, that the government is in the process of possessing a banking system based on the principles of a competitive market, while indicating that  
two international companies have been assigned to study the Iraqi banking market. Saleh told the Iraqi News Agency (INA):
 
“The government strategy for banking reform began with the government banking sector under the supervision of the Prime Minister and is  based on isolating government financial operations from the activity of developing the banking market, given that the government banking sector in its current, traditional form dominates 88% of banking activity.” The country has made government banking operations mixed with market activity.”

 He added, "We are waiting for the birth of a banking system owned by the government, but  

     based on the foundations of a competitive market in providing banking services and
     achieving actual financial inclusion and digital financial inclusion, and is
     consistent with the digital payments policy that our country has been pursuing vigorously for more than a year," pointing out that
 
"the private banking sector is the The other is going through an evaluation stage, and
 
there are opportunities for voluntary merger between more than one bank, among which there is an international strategic banking partner.” He stated that
 
"the objectives of banking reform in Iraq will end with a high merger that achieves
 
     competitiveness,
     homogeneity,
     compliance and
     governance within the Iraqi banking market, and achieves the
     integration of the national banking market with the global market," noting that
 
"the entire issue is being closely followed by Prime Minister Muhammad Shiaa Al-Sudani after

assigning two international companies." By studying the Iraqi banking market and according to a new vision that is consistent with the national economy’s need for
 
     credit and investment and    mobilizing the public’s accumulated resources to ensure the national income cycle is more stable and efficient.”
 
As for the private sector, Saleh explained that “the launch of the philosophy of development partnership between the state and the private sector was embodied for the first time in the
government granting sovereign guarantees to the private industrial sector to collect global loans to finance production lines for the most important industrial projects from the countries of the European Union and Japan, which lead the future of development.”
 
Five levels of industries begin with ensuring financing of infrastructure industries linked to the path of development, the
 
     pharmaceutical industry,
     petrochemicals, and
     refining, and end with important
     digital industries, without forgetting the interest in supporting the
     agricultural sector and farmers in protecting
 
“The country’s food security stems from the production of important strategic food crops.” He stressed that
 
"the government has not neglected to proceed with the national strategy for the private sector, which hopes that the
 
private sector's contribution to the country's gross domestic product will rise from 37% currently to more than 54% in the coming years, by

providing opportunities to nurture the private sector through financing support." Governmental development projects, whether through the
 
     Iraq Fund for Development or the

     Riyada Bank (mixed sector), which was established by the Central Bank of Iraq to advance the role of the private sector in development and raise growth rates in its investments and contributions to the country’s gross domestic product.
 
According to the private sector development strategy that the government has adopted for years.”   
 
https://www.ina.iq/222133--.html   

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Monday Morning 11-25-24

Good Morning Dinar Recap

NEW TEXAS REGULATION: CRYPTO MINERS MUST REPORT POWER USAGE

Texas mandates crypto miners in ERCOT to report power usage, aligning mining growth with grid stability and efficiency.

Texas introduces a new rule requiring crypto miners to report electricity demand to manage power grid stability effectively.

Global trends show varying regulatory responses to crypto mining, from New York’s temporary moratorium to China’s outright ban.

In a move to better manage its power grid amid the growing popularity of cryptocurrency mining, Texas has introduced new regulations requiring crypto miners in the Electric Reliability Council of Texas (ERCOT) region to report their power demand.

Announced by the Public Utilities Commission of Texas (PUCT) Chairman Thomas Gleeson on November 21, the rule mandates Bitcoin [BTC] miners to provide detailed information about the location, ownership, and electricity demand of their operations.

This regulation aims to ensure stability and efficiency in the state’s power grid as the number of mining facilities increases.

The necessity for such regulations comes as Texas continues to attract a significant number of crypto mining operations due to its relatively low energy costs and crypto-friendly policies.

However, the surge in energy consumption by these operations has raised concerns about the potential strain on the state’s power infrastructure, especially during peak demand periods.

By having a clear picture of the energy demands from crypto mining, Texas can better prepare and adjust its grid management strategies to prevent outages and maintain reliable energy distribution.

Global regulatory trends in crypto mining
Texas is not alone in its efforts to regulate the energy use of crypto mining activities. Around the world, various jurisdictions have started implementing similar rules to address the environmental and infrastructural impacts of this burgeoning industry.

For example, New York recently passed a bill that places a temporary moratorium on certain types of cryptocurrency mining operations that use carbon-based fuel. This legislation is part of broader efforts to align the state’s crypto mining activities with its climate targets.

Similarly, countries like China have taken more drastic measures by completely banning cryptocurrency mining, citing excessive energy consumption and environmental concerns as primary reasons.

These global shifts in the regulatory landscape indicate a growing awareness and response to the complex interplay between cryptocurrency mining and regional energy systems.

The new Texas rule is part of a broader trend where regional governments are scrutinizing the environmental and infrastructural impacts of cryptocurrency mining.

While more territories evaluate and implement regulations, crypto miners are increasingly required to adapt to these changing conditions. Compliance with such regulations not only supports local infrastructure but also pushes the crypto mining industry towards more sustainable practices.

As the BTC mining industry continues to expand, the introduction of regulatory measures like those in Texas is crucial for ensuring that growth is balanced with the needs and limitations of local power grids and environmental standards.

These regulations could set precedents for how other regions manage the intersection of technology, energy consumption, and environmental responsibility in the age of cryptocurrency.

@ Newshounds News™

Source:  AMBCrypto 

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COINBASE EXPLORES BLOCKCHAIN PARTNERSHIP WITH KENYA'S SAFARICOM

Coinbase is reportedly exploring a partnership with Safaricom to enhance M-PESA with blockchain technology. This move aligns with Coinbase’s broader strategy of promoting crypto adoption in Africa, particularly in Kenya and Nigeria. Coinbase is also working with the Kenyan government to foster blockchain development and education.

While regulatory uncertainties have previously hindered Coinbase’s operations in Kenya, recent positive developments and partnerships with local entities like Yellowcard suggest a growing interest in cryptocurrencies and blockchain technology in the country.

@ Newshounds News™

Source:  Bitcoin News

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HONG KONG’S ZA BANK IS FIRST BANK IN ASIA TO LAUNCH RETAIL CRYPTO SERVICES

Today Hong Kong digital bank Zhong An Bank (ZA Bank) unveiled a retail cryptocurrency trading service. It claims to be the first Asian bank to launch a retail service. Rather than building an exchange from scratch, like most banks, it is launching in partnership with an existing cryptocurrency exchange, HashKey Exchange

Initially the bank supports trading only in Bitcoin and Ethereum in both HKD and USD. For the first three months after activation, ZA Bank is offering 0% commission, with minimum investments of USD 70 or HKD 600.

The offering has been integrated with the main bank app. The bank cited a recent survey by the Hong Kong Association of Banks, saying it found that 70% of respondents would find it convenient to trade crypto via their banking apps.

“The rise of cryptocurrency presents investors with more diverse asset allocation opportunities,” said Calvin Ng, alternative CEO of ZA Bank. “As a bank, we prioritise security and compliance, which is why we’ve partnered with HashKey, a global-leading licensed virtual asset exchange, to meet regulatory standards and deliver bank-grade security in virtual assets trading – our key competitive advantage in the Asian market.”

ZA Bank is Hong Kong’s largest digital bank with 800,000 users as of June 2024 (Hong Kong population 7.5m). The company is owned by ZA Global, an affiliate of Zhong An, the large Chinese insurance company which was co-founded by the entrepreneurs behind some of China’s biggest technology firms – Alibaba, Tencent and Ping An insurance.

Other bank cryptocurrency services
While ZA Bank may be the first Asian bank to offer retail crypto trading, Singapore’s DBS Bank was the first to launch a crypto service almost four years ago, which it built in-house. However, the DBS Digital Exchange targets only institutional and accredited investors.

Probably the largest number of retail bank crypto services are in Latin America. Europe is catching up, especially with the enactment of the bulk of the EU’s MiCA crypto regulations at the end of this year. BBVA was one of the pioneers, starting a service in Switzerland in mid 2021, followed by the launch of Garanti BBVA Digital Assets in Turkey last year.

@ Newshounds News™

Source:   Ledger Insights  

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THE UGLY TRUTH ABOUT THE 2020 ELECTION CONTROVERSY NO ONE TELLS YOU  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

THE ECONOMIC RESET: NESARA & GESARA EXPLAINED  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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“Tidbits From TNT” Monday Morning 11-25-2024

TNT:

Tishwash:  MP: We need to extend the legislative term for 8 sessions and the budget is the top priority

Representative, Mohammed Al Shammari, called for extending the legislative term for 8 sessions, while stressing that the federal budget for the year 2025 is the top priority.

Al-Shammari told {Euphrates News} that: "There are important laws suspended within the House of Representatives, some of which are controversial and others need to be passed to serve the people."

He added, "The controversial laws that were included in one basket are the Personal Status Law, the General Amnesty, and the Popular Mobilization. In addition to these laws, there are laws in all the drawers of the parliamentary committees, including the Security and Defense Committee, where the Intelligence Service Law and Diplomatic Passports Law are ready, but due to these differences, they were postponed.  "

Al -Shammari continued, "The Personal Status Law is not binding on all the Iraqi people, and everyone has the choice to choose the law that suits their situation."

Al-Shammari stressed "the need to extend the legislative term to 8 sessions to compensate for what we missed in the last legislative term, and for the Parliament Presidency to prioritize the laws according to the needs of the people." 

He added, "I believe that the issue of the federal budget for 2025 and its completion for the next fiscal year is of utmost importance, and the parliamentary circles have the determination to approve the budget schedules, and we hope that the law will be passed in the coming days." link

************

Tishwash:  Kirkuk publishes lists of 369 families: Go to Article 140 office to receive compensation

From the expatriates to the governorate

Kirkuk 

On Sunday, the Article 140 Office in Kirkuk Governorate called on 369 expatriate families to visit it with the aim of completing the deficiencies in their submitted transactions and updating their data to obtain official documents and compensation certificates.

Kakarsh Sadiq - Head of Article 140 Office in Kirkuk, to 964 Network :

The names of the heads of households published in today’s lists are from families who came to the governorate and returned to Kirkuk several years ago. Their transactions have been completed almost completely, except for some deficiencies that must be completed.

The deficiencies we have indicated in the transactions of the 369 families are not the same, as each family has a deficiency in a specific subject, so their transactions cannot be completed except by visiting the office.

We are constantly publishing lists of the names of the immigrant families, informing them of the need to visit the office to obtain the compensation for this constitutional article, which amounts to 10 million Iraqi dinars for each family, or to complete obtaining the official documents for residence in Kirkuk. link

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Tishwash:  Iraq needs to improve its investment environment to attract international companies

  $233 billion is the cost of stopping gas flaring in Iraq by 20402

A report by the international energy news website S&P Global revealed that the International Finance Corporation (IFC) estimates that Iraq needs investments of $233 billion to implement programs to reduce and stop gas flaring in the country by 2040, at a time when experts stated that Iraq must improve its investment environment to be able to attract international energy companies to help achieve this goal.

The report indicated that Iraq, which is considered one of the countries in the world that wastes the gas associated with its oil production by flaring it, was among the concerns of the climate change conference sponsored by the United Nations, with estimates that it needs investments of hundreds of billions of dollars to finance programs aimed at reducing and ending gas emissions in its fields.
According to estimates by the International Finance Corporation (IFC), Iraq needs approximately $233 billion in investments to implement programs to reduce and end gas flaring by 2040, while manufacturing it and using it to improve self-sufficiency in generating electricity and protecting the environment from pollution.

According to the International Energy Agency, the goal of the Iraqi National Program (NDC) is to reduce gas emissions in the country by 15% by 2030, noting that 13% of that goal depends on international support and assistance.

“At COP29, on this particular issue, we are seeing real progress in moving from planning to action. Developed countries and international organizations are ready to help and support Iraq in this area,” Jonathan Bangs, a climate change policy advisor at the Clean Air Task Force (CATF), told S&P Global Platts. He noted that a top priority of the Iraqi National Program Framework is to stabilize the foundations of gas-flaring plants in oil and gas fields.

The report noted that capturing associated gas, in addition to reducing its contribution and impact on climate change, would enable Iraq to profit from its gas reserves and help provide sustainable electricity to its citizens, a vital goal in a country that suffers from power outages, especially in the hot summer months when air conditioning requires maximum power consumption.

In an interview conducted in March 2024, the Deputy Minister of Oil for Gas Affairs, Izzat Saber, said that in 2023, Iraq made progress in the process of collecting and processing gas, achieving 60% benefit from this process by collecting 7.8 billion cubic feet of gas.

However, information based on satellite images from that year indicated that 636.8 billion cubic feet of gas were flared, causing heavy gas emissions.

Evgenia Miburova, a researcher in the field of gas emissions, said that the quantities of gas flared are equivalent to the quantities of gas that Iraq signed over five years with Iran, which will export 642.4 billion cubic feet of gas to Iraq annually, and this quantity is not far from the amount of gas consumed in Iraq in 2023, which is 722 billion cubic feet.

“Iraq’s ability to meet its domestic gas needs will depend on the speed of implementation of gas processing plant projects and the launch of new gas projects, as well as the growth rate of gas demand,” researcher Meburova added. “In addition, collecting associated gas in oil fields not only reduces the rate of gas flaring, but also reduces the country’s dependence on oil alone, with the abundance of natural gas to feed power plants.”

Meburova said that this shift is important because burning oil fuel generates more harmful gases than burning associated gas. According to local figures, Iraq burned 267,000 barrels per day of oil fuel oil to generate electricity in August 2023. She pointed out that the Iraqi National Program plan also includes goals to improve control related to reducing methane emissions and switching from oil fuel oil to natural gas fuel to improve self-sufficiency in power generation.

However, experts point out that Iraq needs to improve and facilitate the terms of its contracts in order to attract investment, stressing that another obstacle is the need to improve the security environment and eliminate corruption, which always discourages investors from coming to the country.

Sara Vakhshouri, an analyst at SVB International Energy, says, “Iraq must establish clear investment laws and conditions that are far from routine bureaucracy in order to attract investor money.”
About S&P Global  link

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Mot: Family --- aaaaahhhhhhh 

Mot:  ....... cooking the Turkey 

MilitiaMan & Crew Iraq News-CBI Building Final Touches-Oil Exports-Development Road-Turkey-Budget Article 12 & 13

MilitiaMan & Crew Iraq News-CBI Building Final Touches-Oil Exports-Development Road-Turkey-Budget Article 12 & 13

11-24-2024

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=YiN1BoEEmsA

“Tidbits From TNT” Sunday 11-24-2024

TNT:

Tishwash:  Koger: The budget schedules have not reached us yet, and we will start the sessions as soon as they arrive.

Jamal Kojer, a member of the Parliamentary Finance Committee, explained today, Saturday, that the budget schedules have not reached the Finance Committee yet, and we have not been informed of the date of sending them to the House of Representatives.

Kocher added in his statement to {Euphrates News} Agency, "Once the schedules reach the committee, they will be announced and the sessions for the first reading will begin if they include texts. If the schedules are devoid of texts, the committee will begin reading the schedules only."

He stressed that "the committee will work to prevent tampering with the schedules, as happened previously."  link

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Tishwash:  The Trade Bank of Iraq (TBI) announced today, Saturday, a plan to open a number of new branches. 

The media advisor of the Trade Bank of Iraq (TBI), Aqeel Al-Shuwaili, said that “the plan included opening an office for the bank in SOMO Oil Marketing Company in Rusafa and a cash deposit office in Karkh in the Red Crescent Society in Al-Mansour area, as well as opening a branch in Karkh in 14 Ramadan Street, in addition to opening a branch in Karkh in Al-Saydiyah area, in addition to opening a branch in the governorate center in Samawah in Al-Baraka Mall.

The statement indicated that “the plan also included preparing to open other new branches, namely the Ziona branch in Rusafa, the Tikrit branch in Salah al-Din Governorate, a branch in Basra Governorate, and the Diwaniyah branch in Qadisiyah Governorate.”  link

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Tishwash:  The European Union organizes a workshop in Basra on central administration and the wealth distribution system

The European Union organized a workshop in Basra on central administration and the wealth distribution system.

Basra Governor Asaad Al-Eidani stressed during the workshop that the distribution of wealth has limitations for the poorest areas as well as areas with high population density, in addition to areas that were damaged by the wars that Iraq witnessed.

He added that Basra has three resources for distributing wealth in the budget, which are: regional development, border crossing revenues, and petrodollars. Basra may not be given its full revenues, which are according to the constitution, due to the financial situation and challenges facing the country. He pointed out that during the past two years there are debts owed to the governorate that must be given those entitlements.

Al-Eidani explained that "the infrastructure projects being implemented in the province have contributed significantly to improving the economic situation in various housing units, noting that house prices in the province have witnessed a noticeable doubling during the past few years, reaching ten times their previous value.

Al-Eidani pointed out that these improvements reflect the impact of development projects on improving the standard of living and enhancing the value of real estate assets in Basra."  link

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Tishwash:  MEPS24: US Consul in Erbil highlights promising economic opportunities for Iraq

On Saturday, Steven Bitner, the US Consul General in Erbil, spoke about the "economic opportunities" that will bring significant benefits to both Iraq and the United States.

During a panel discussion at the Middle East Peace and Security Forum (MEPS24) at the American University in Duhok, the Kurdistan Region, Bitner stated that "the strategic agreement between the two countries encompasses various aspects, including economic, cultural, health, and environmental cooperation, as well as strengthening mutual relations."

"For the past twenty years, security and political concerns have dominated the relationship between the United States and Iraq. However, recent efforts have focused on economic opportunities that will benefit both countries," he noted.

Notably, MEPS24 features participation from the President of Iraq, the Speaker of the Iraqi Parliament, the President of the Kurdistan Region, and numerous local, Arab, and international officials.

Organizers of the two-day forum emphasize that it includes panel discussions, seminars, and workshops on the situation in the Middle East and the world. "The forum aims to build bridges of cooperation between participating countries, discuss problems and solutions, and explore the role of society in the Middle East." link

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Mot: . Bet You Didn't Know! 

Mot: ..... at Long Last!!! Michael rows his boat ashore

https://www.youtube.com/watch?v=jRv-fgfLFTk

Iraq News Highlights and Points to Ponder Late Saturday Night 11-23-24

An Inside Look At Iraq’s “Fuel Smuggling Market”: New Developments And Smugglers “Suffering”

Economy   2024-11-23 | 1,627 views   Sumerian News-Economy   Economic platforms specialized in energy information in the world revealed that they addressed...Iraq To Iran, and the request to prevent the passage of smuggled fuel tankers through the territory Kurdistan To Iran, after reaching Iraq to deal By raising the cost of a barrel of oil for foreign companies, and restricting export Oil and fuel exclusively through SOMO.

Economic reports said that the Iraqi Ministry of Foreign Affairs requested the authorities to...Iranian Preventing trucks carrying “oil, black oil and other petroleum products” from entering Iran through border crossing areas in the region. Kurdistan Iraq Unless exports are licensed by Iraq's state oil marketing company SOMO, according to a letter dated Nov. 12.

Reports quoting market sources say that a movement Bitumen and other petroleum products through the Haj crossing Imran- Piranshahr has already stopped due to the new directive, but Parviz Khan and Bashmakh border crossings are still exporting bitumen, but if this message is fully implemented, the exports will Iraq Of bitumen will be cut off because these producers do not have a license from SOMO.

The restrictions are expected to remain in place until further notice, although some market participants have expressed doubts about the effectiveness of the strict measures. The directives are expected to affect crude producers in the Kurdistan region, which have relied on local sales since the main export pipeline to Turkey was shut down last year.

Foreign operators working in the Kurdistan They have been transporting crude to local refineries since the pipeline was shut down, but data suggests Kurdish crude is also being smuggled – by truck – across the border to Turkey, Iran and Syria.

Bitumen market participants  in Iraq The smuggling ban, however, comes at a time when domestic supplies are already tight, due to limited availability of raw materials from refineries.

Not only are high margins encouraging Iraqi refiners to blend vacuum distillation residues to produce high-sulfur fuel oil, but the long blockade between Erbil and Sulaymaniyah, which began before the Kurdish elections in October, has made it difficult for bitumen producers to transport vacuum distillation residues from refineries to their production units.

Despite a reduction in freight rates to $10 per tonne last week to encourage bitumen producers to transport vacuum distillation residues, down from $35 per tonne when the ban began, most Kurdish suppliers have refrained from offering new export cargoes in the past three weeks.

A few Indian importers said it was becoming increasingly difficult to secure Iraqi bitumen barrels due to a lack of supply, and some bitumen suppliers have decided to step down in the hope that export values ​​will rise in line with higher Iranian sea freight rates.

Limited availability of spare parts has pushed up production costs for Iraqi bitumen suppliers, with producers saying Iraqi barrels will be offered at above $340 a tonne FOB Bandar Abbas in the coming days, compared with around $322-325 a tonne last week.

Market participants said one major producer in South Iraq It has stopped offering barrels since the end of October because high production costs have made export prices less competitive for major consumers such as India.   LINK

MP Calls For Activating China's Belt And Road Initiative

Economy    MP calls for activating China's Belt and Road Initiative   Information / Baghdad..    Head of the Amal parliamentary bloc, Yasser Al-Husseini, called today, Saturday, to activate the Chinese Belt and Road Initiative to get rid of American hegemony.

Al-Hussaini said in a statement to Al-Maalouma Agency, "China is at the forefront of countries in trade and economy with Iraq, indicating the importance of activating the Chinese agreement and starting to implement the Silk Road to get rid of American hegemony over Iraq's sovereignty."

He added, "The Belt and Road Initiative is of great importance in developing the Iraqi economy and building infrastructure."

He pointed out that "Iraq can exploit its distinguished geographical location as it connects by land and sea the three ancient continents (Asia, Africa and Europe) and will be a point of strength for Iraq in its contribution and participation in this great project." End/25H  LINK

The Central Bank Of Iraq Sells More Than $894 Million In Three Days

Shafaq News/ The Central Bank of Iraq witnessed total sales of hard currency exceeding $894 million in just three working days last week.

Shafaq News Agency correspondent explained that the Central Bank's sales of the US dollar during the past week, during the three days in which the auction was opened, amounted to 894 million, 662 thousand, and 721 dollars, at a daily average of 298 million, 220 thousand, and 907 dollars.

These sales declined compared to the previous week, when total sales amounted to $1,434,982,505.

He added that the highest sales of the week were on Sunday, reaching $308,018,326, while Tuesday recorded the lowest sales of $287,810,781.

The correspondent pointed out that foreign remittance sales accounted for the largest proportion of total sales, amounting to 841 million, 712 thousand, and 721 dollars, representing 94% of total sales, while cash sales were only 52 million, 950 thousand dollars.  LINK

OPEC Secretary General: Crude Oil And Natural Gas Are 'Gifts From God'

Energy     Economy News - Follow-up  OPEC Secretary-General Haitham Al-Ghais stressed that global warming talks should focus on reducing emissions rather than choosing energy sources, stressing during a speech he delivered at the United Nations Climate Change Conference (COP29) in Azerbaijan that crude oil and natural gas are “a gift from God.”

The comments came as world governments seeking to limit the damage caused by global warming in the Caspian Sea country met to try to reach a comprehensive financial agreement aimed at helping countries cut emissions and adapt to the effects of climate change.

Al-Ghais said in a speech he delivered at the conference hosted by Baku, the capital of Azerbaijan, “Oil and natural gas are in fact a gift from God.”

“Today, nearly 180 years after the discovery of oil, specifically here in Baku, the capital of Azerbaijan, oil and its various derivatives still play a role in how we heat and cool our homes, build buildings, and move and travel from one place to another. Oil and gas remain vital to producers and consumers around the world,” Al Ghais said.

“These resources affect how food is produced, packaged and transported, how medical research is conducted and how medical supplies are manufactured and distributed. I could go on and on with an endless number of examples,” he added.

The statements of the Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), Haitham Al-Ghais, are in line with the opening speech of the President of Azerbaijan, Ilham Aliyev, in which he responded to Western criticism of his country's oil and gas industry, and also described these resources as a "gift from God."

He pointed out that the world's governments, which set a ceiling for the rise in global temperature during the Paris summit in 2015 of no more than 1.5 degrees Celsius compared to the pre-industrial revolution level, can achieve their climate goals without shifting away from oil.

Related News

Al Ghais also stressed that a balanced energy transition is the key to global sustainability.

"The Paris Agreement focuses on reducing emissions, not on choosing energy sources," he said.

OPEC said technologies such as carbon capture could address the climate change impacts of burning fossil fuels.

Mohamed Hamel, Secretary General of the Gas Exporting Countries Forum, also spoke at the conference on Wednesday in support of fossil fuels.

“As the world’s population grows, the economy expands and human living conditions improve, the world will need more natural gas, not less,” he said.

He added that he hopes that the COP29 agreement on international climate finance will allow support for natural gas projects to help countries transition away from more polluting fuels such as coal.

"The outcome of the conference should facilitate financing of natural gas projects and promote cleaner technologies such as carbon capture, storage and utilization," he added.

"This is essential to achieve energy transitions that are fair and inclusive and ensure that no country is left behind," he added.     https://economy-news.net/content.php?id=50114

A Government Bank In Karbala Embezzles Installment Amounts Paid By A Number Of Borrowers

Saturday, 11-23-2024, Taisir Al-Asadi  The Federal Integrity Commission was able to monitor cases of embezzlement of financial sums in a government bank in Karbala Governorate, indicating that the accused embezzled the amounts of installments paid by a number of borrowers.

The Government Media and Communications Office, while talking about the details of the operation that was carried out under the direct supervision of the judge of the Karbala Investigation Court, which is specialized in examining integrity cases, stated that a team formed in the Commission’s Investigation Office in the governorate,

and within the framework of the follow-up and auditing work it is carrying out at Rafidain Bank - Al-Hussainiya Branch, revealed the embezzlement of an amount of money that was paid by two borrowers, noting that the borrowers’ files were seized along with a calculator statement of the cash payments that showed the embezzled installments.

The media office added that the former bank manager, in cooperation with the loan and counter department officials and the computer employee, embezzled the installment amounts, noting that the accused had previously been arrested after an arrest warrant was issued against them by the competent investigating judge;

following the commission’s discovery of their embezzlement of financial amounts after it had audited (2413) files over a period of three weeks, by organizing fictitious loan transactions to purchase cars, indicating that their statements were recorded and they were presented to the judge of the Karbala Investigation Court specialized in integrity cases, who decided to detain them in accordance with the provisions of Article (315) of the Penal Code.

It is worth noting that the Authority announced on August 21st the arrest of 5 bank employees on the grounds of embezzling a sum of money after reviewing the borrowers’ files, guarantor forms, loan contracts, collection receipts, daily matching statements, calculator tables, and the electronic program.

https://non14.net/public/172216

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

Good Morning Dinar Recaps

STELLAR AND THIS NEW COIN: THE DEFI DUO WITH POTENTIAL TO MULTIPLY A CRYPTO PORTFOLIO

A seasoned crypto and a rising DeFi star are capturing investor attention, offering potential for major portfolio growth.

Investors are eyeing a dynamic pair shaking up the decentralized finance scene. One is a seasoned cryptocurrency with a solid track record. The other is a fresh player gaining rapid attention.

Together, they could offer a compelling opportunity to amplify investment returns. This duo might be the catalyst for significant portfolio growth.

Early access to ZDEX: A token with 1000x potential

The ZDEX presale is officially underway, offering early adopters a prime opportunity to invest in a rising DeFi star at an entry price of just $0.0019. By the end of the presale the price will increase to $0.0029, meaning that ZDEX will appreciate 50% even before it gets listed.

ZDEX is the cornerstone of ZircuitDEX, a next-generation decentralized exchange (DEX). Unlike many junk coins, DEX tokens are built to thrive, thanks to their high demand and real utility.

Take Raydium (RAY), which skyrocketed 1790% in a year, or Uniswap, starting at $1 and now over $8, an 8-fold price increase. ZDEX token has similar 1000x potential, ready to reward those who get in early.

Built on the ultra-fast Zircuit Layer 2 chain, ZircuitDEX is crafted to meet the needs of both new and seasoned DeFi traders with its key features:

▪️Lightning-fast transactions for smooth trading experiences

▪️Minimal slippage to ensure trades occur close to desired prices

▪️Near-zero fees for cost-effective transactions

Fully EVM-compatible, ZircuitDEX ensures smooth integration with Ethereum tools, while its implementation of zero-knowledge proofs (ZK proofs) provides enhanced security—a critical feature as market participants increasingly prioritize safeguarding their assets.

Riding the meme coin wave
ZircuitDEX’s built-in meme coin launchpad gives investors a front-row seat to the next viral crypto sensations. With exclusive access to promising meme projects, ZDEX is ready to replicate the explosive success of tokens like BRETT, which soared over 14,000%! As ZircuitDEX nurtures a vibrant, community-centered approach, it’s primed to become the hotspot for high-growth meme tokens.

Efficiency and profitability for liquidity providers
For liquidity providers, ZircuitDEX delivers up to 500x capital efficiency compared to traditional decentralized exchanges. Concentrated liquidity pools allow LPs to earn higher returns with lower capital input, while automated strategies streamline trading, making it easier for users to optimize their holdings. ZDEX token holders also gain governance rights, exclusive airdrops, trade incentives, and staking rewards—adding further value to early participation.

As anticipation builds, ZDEX is quickly becoming a must-watch in the DeFi space, with investors eager to capitalize on its potential for outsized returns.

Stellar: Decentralized network enhancing global financial collaboration
Stellar (XLM) is a decentralized, open-source payments network using blockchain to enable quick, low-cost fund transfers.

It does not favor any national currency and features its own cryptocurrency, Stellar Lumens. Since 2014, Stellar has processed billions of transactions and formed major partnerships. It allows transfers of any currency type, including digital versions of national currencies and cryptocurrencies like Bitcoin.

Unlike many cryptocurrencies aiming to replace financial systems, Stellar seeks to enhance them, offering a unified network for collaboration. Individuals can transfer funds globally using Stellar apps, and companies can develop blockchain applications or use the network for payments and currency conversion. The potential of Stellar’s technology makes it an attractive option in the current market cycle.

Conclusion
In conclusion, although established coins like XLM have less short-term potential during this 2024 bull run, ZircuitDEX offers an exceptional opportunity with 500X capital efficiency, lightning-fast transactions, and zero slippage. The ZDEX Token’s 70% presale discount and potential 500% returns upon launch make it a promising asset to enhance portfolio growth.

@ Newshounds News™

Source:  Crypto News

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THE FUTURE OF NFTS: A TRANSFORMATION, NOT A TOMBSTONE

What’s next fro non-fungible tokens? What’s shaping the industry going into potentially favorable 2025 and beyond?

As we navigate the landscape of digital assets, the question looms large: Are NFTs dead?

The fervor that once engulfed the NFT market has certainly dimmed since the euphoric days of 2021, often compared to tulip mania. However, rather than writing an epitaph for NFTs, we should consider a transformative future shaped by evolving perceptions and real-world utility.

The Loyalty of Web3 Audience
The first challenge that non-fungible tokens (NFTs) face is the inconsistency of the Web3 community. This community is very responsive to market conditions and quickly jumps from one trend to another and changes its loyalty overnight.

The market was cruel for NFTs, indicating that many enthusiasts came to participate in temporary hype rather than for long-term value. As the hype faded, interest waned, leading to disgruntled investors and deserted businesses.

When the reality set in, a number of the Web3 aficionados went shopping for bigger fish, and NFTs soon became out of favor, exposing the market’s appetite for bubble factors instead of fundamentals.

Web2’s Shift: Brands and Normies Depart
Simultaneously, the Web2 audience—once eager to explore blockchain and NFTs—has also moved on. Initially brands that adopted NFTs for promotion purposes have now lost interest in NFT amidst falling prices and the new narrative gaining the center stage.

The discussions about NFTs, primed before, remain dormant and have no elasticity to gain mainstream media attention. For the average consumer, NFTs are just a faded trend, just as the overemphasis on new technologies.

The Future Ahead?
So, what does this portend for the future of NFTs? In Web2, it is obvious that digital art is the new order, and NFTs are still necessary as a medium for auctioning and distributing this art.

Nevertheless, this is probably unlikely to start the next bull market. It is true that profile picture projects (PFP) will always amuse a select few, but they, too, are unlikely to trigger a mass market revival. Bull markets thrive on innovation, where originality intersects with scarcity, driving demand beyond supply.

The burning question is: what could give rise to this newness?

NFTs as the Core Infrastructure
Rather than a relic of a bygone era, NFTs hold the potential to be vital components of blockchain infrastructure. They can enhance identity protocols, facilitate social finance, enrich gaming experiences, and tokenize real-world assets.

When viewed through this lens, NFTs are as fundamental to blockchain as the ERC-20 standard is to decentralized finance(DeFi).

Imagine the scenarios: Instead of real estate parcels having only one owner, anyone can own a fraction of the property. This means that a house deed can be put on sale, and people can buy the NFT and trade it permissionless, making real estate transactions simpler.

Alternatively, NFT-backed real estate investments could allow investors to easily buy into real estate projects without owning the actual property. Fractional ownership might even allow groups to purchase vacation homes or shared assets, like a pair of skis, easily.

Moreover, NFTs are set to redefine community relationships through membership access, perks, and value exchange. A myriad of applications will emerge, such as health records management, credit history management, and embedding NFTs into everyday life.

Conclusion: Transformation is the Key to Success
While the NFT market as we know it may be undergoing a reorientation phase, it is far from dead. Instead of wailing its past, we should focus on the shifts that will redefine our understanding of NFTs. By recognizing their potential beyond digital collectibles, we can pave the way for a future where NFTs become integral to our digital lives—ushering in a new era of innovation and opportunity.

@ Newshounds News™

Source:  CryptoPotato

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DONALD TRUMP SELECTS PRO-CRYPTO SCOTT BESSENT AS TREASURY SECRETARY

▪️Donald Trump has nominated Scott Bessent, a hedge fund manager and crypto advocate, as Treasury Secretary.

▪️Bessent’s pro-crypto stance sparked optimism of a shift toward balanced regulation that would help the industry grow.

▪️His nomination is seen as a potential turning point for fostering innovation and clearer policies in the crypto space.

Donald Trump, the President-elect of the United States, has nominated Scott Bessent as Treasury Secretary for his administration. This decision has generated enthusiasm in the emerging industry due to Bessent’s pro-crypto reputation.

Bessent and Cantor Fitzgerald CEO Howard Lutnick had been considered strong favorites for the position. However, Lutnick was eventually nominated as Commerce Secretary.

Crypto Industry Welcomes Scott Bessent’s Nomination for Treasury Secretary
In a November 22 announcement on Truth Social, Trump praised Bessent as the ideal candidate to support his administration’s economic goals. The President stated that Bessent will play a pivotal role in strengthening the US economy, fostering innovation, and maintaining the dollar’s status as the global reserve currency.

“Scott will support my policies that will drive US competitiveness, and stop unfair trade imbalances, work to create an economy that places growth at the forefront, especially through our coming world energy dominance,” Trump added.

Wall Street veteran Bessent, who founded the international macro investment company Key Square Group, brings extensive experience to the role. He had previously served as the chief investment officer for the prominent investor George Soros.

While President Trump’s announcement did not directly reference cryptocurrencies, many in the digital asset space view Bessent’s appointment as a positive sign.

 In past statements, Bessent has described crypto as a symbol of financial freedom. He also called Bitcoin an alternative investment for younger investors disillusioned with the traditional financial system.

“I have been excited about the president’s embrace of crypto and I think it fits very well with the Republican Party, crypto is about freedom in the crypto economy is here to stay,” Bessent stated.

His pro-crypto stance has led many to believe his leadership could encourage a more balanced approach to digital asset regulation. This would contrast with the outgoing administration’s enforcement-heavy tactics, such as its controversial sanctions on decentralized platforms like Tornado Cash.

Indeed, crypto industry leaders have responded enthusiastically to Bessent’s nomination. Ripple CEO Brad Garlinghouse commended Bessent’s nomination, calling it a win for innovation. He noted that Bessent’s leadership could mark a turning point for crypto-friendly policies in Washington.

Similarly, Kristin Smith, CEO of the Blockchain Association, highlighted the importance of Bessent working with Congress to establish clear regulations, ensure fair tax treatment, and protect self-custody rights for digital assets.

“Critical to this nomination would be working with Congress on a regulatory framework for digital assets, protecting the right to self custody, pushing for clearer tax treatment of digital assets, and working closely with industry experts to protect our nation’s security,” Smith remarked.

@ Newshounds News™

Source: Be In Crypto    

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UNLOCKING PERSONAL SOVEREIGNTY: YOUR GUIDE TO TOTAL FREEDOM  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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🌱ELON MUSK'S BEDSIDE TABLE SECRETS REVEALED!  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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