Iraq Economic News and Points to Ponder Thursday Afternoon 1-23-25

Al-Sudani Confirms Iraq's Aspiration For More Cooperation With The Arab Monetary Fund

Political | 12:17 - 01/23/2025   Mawazine News – Baghdad   Prime Minister Mohammed Shia Al-Sudani received today, Thursday, the Chairman of the Arab Monetary Fund, Mr. Fahd bin Mohammed Al-Turki.

In a statement received by Mawazine News, the media office stated that at the beginning of the meeting, His Excellency congratulated Mr. Al-Turki on assuming the position of Chairman of the Fund, wishing him success in his duties.

His Excellency affirmed the government's support for the tasks of the Arab Monetary Fund, of which Iraq is one of the founders and the second largest contributor, after the Kingdom of Saudi Arabia.

Mr. Al-Sudani pointed out Iraq's aspiration for more cooperation with the Fund, and for the effects of its work to be reflected on the Iraqi scene, through its contribution to financing the reconstruction and development campaign that the government has embarked on, especially in the field of infrastructure, as well as the desire for the Fund to work on expanding the contribution of Iraqi cadres in its work, and building bridges with Iraqi financial institutions.

His Excellency also stressed the importance of the Fund contributing to strengthening Arab ties, by organizing financial, monetary and trade relations, in a way that enhances common interests between them.

For his part, the Chairman of the Board of the Arab Monetary Fund expressed his thanks and appreciation for the warm reception, stressing the Fund’s keenness to support Iraq and participate in its development programs, in a way that contributes to enhancing constructive cooperation in the field of financial and financing sectors.   https://www.mawazin.net/Details.aspx?jimare=258918

Allawi: Iraq Is A Stable, Safe And Attractive Environment For Investment

Local | 05:14 - 01/23/2025   Mawazine News – Baghdad   Prime Minister's Advisor Hussein Allawi confirmed on Thursday that the UK's decision to downgrade Iraq's security rating confirms the country's path as a stable, safe and attractive environment for investment.

Allawi said: "The successful visit of Prime Minister Mohammed Shia al-Sudani to the UK reflected the progress of Iraqi-British relations on the economic, security, political, educational and cultural levels."

He added that "the UK's decision to downgrade the security rating classified Iraq as a stable, safe and attractive environment for investment and tourism, considering Baghdad as the Arab Tourism Capital for 2025, as well as the Capital of Sports and Youth for 2025, as well as its proximity to hosting the Arab Summit for 2025," adding that "Iraq needs to be treated fairly in terms of ratings, and this is what the Prime Minister succeeded in doing after the great progress in the economic, social and security climate."

He continued, "This rating indicates that the country is on a new path after two years of the government's success in working to move the country to an advanced stage that countries have now begun to respond to, especially the major countries, including the United Kingdom, by reconsidering the ratings they provide to their citizens towards Iraq."

The Prime Minister's Advisor explained that "this is the natural path of the stable state that has faced terrorism, defeated it, built stability and is building towards long-term stability for economic and social prosperity for a better life for Iraqis."

The Ministry of Foreign Affairs welcomed the UK's decision to downgrade Iraq's security level classification last Tuesday.

The ministry said in a statement received by Mawazine News that "the Ministry of Foreign Affairs welcomes the UK's decision to reclassify Iraq's security level, and considers this step an important achievement that reflects the significant improvement in the security situation and the Iraqi government's ongoing efforts to achieve stability and enhance a safe and encouraging environment for investment and work.

" It added that "reducing the security classification will open the way for British companies to enter the Iraqi market, and the decision will contribute to reducing the costs of travel and work insurance, which enhances opportunities for economic and investment cooperation between Iraq and the United Kingdom."

 It continued, "In this context, the ministry calls on other Western countries, including the United States of America, Canada, and the European Union countries (Germany, France, Belgium, Italy, Austria, and the Netherlands), to reconsider their security classifications for Iraq, and the ministry encourages these countries to take similar steps that support Iraq's efforts to enhance economic cooperation."

The ministry confirmed that "Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein will work to send official messages to the concerned countries, urging them to review their security classifications of Iraq in line with the positive developments and the noticeable improvement in the security situation."

The ministry renewed - according to the statement - "its commitment to working with its international partners to strengthen bilateral relations and provide an appropriate environment to expand cooperation in various fields, in a way that serves common interests and enhances stability and development in Iraq and the region."   https://www.mawazin.net/Details.aspx?jimare=258927

President Of The World Economic Forum: Iraq Is One Of The Important Countries In The Middle East And The World

Local | 05:44 - 01/23/2025   Mawazine News – Baghdad  Today, Thursday, the President of the World Economic Forum, Klaus Schwab, considered Iraq one of the important countries in the Middle East and the world.

A statement by the Iraqi Presidency received by (Mawazine News) stated that "President Abdul Latif Rashid met today, Thursday, with the President of the World Economic Forum, Klaus Schwab, during his participation in the forum's activities in Davos.

" The statement explained that "the meeting discussed economic issues on the international scene and ways to activate the global market movement and improve the economic situation of most countries."

The President of the Republic stressed "the importance of the World Economic Forum and its role in bringing together world leaders and heads of major economic organizations and companies to achieve economic integration and conclude agreements that contribute to strengthening the economies of peoples."

Rashid pointed out that "Iraq enjoys security and stability and is moving forward towards strengthening economic conditions in various fields, especially infrastructure, the energy sector, the environment, services and improving the living conditions of citizens," noting that "the Iraqi state is working to strengthen the role of investment and the private sector through legislative and executive facilities."

He added that "Iraq is a fertile environment for investment and economic and commercial cooperation." For his part, Klaus Schwab praised "Iraq's distinguished participation in the activities of the World Economic Forum," stressing that "Iraq is considered one of the important countries in the Middle East and the world." The indicators support him in achieving development in various economic and social aspects.”   https://www.mawazin.net/Details.aspx?jimare=258928

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

Seeds of Wisdom RV and Economic Updates Thursday Afternoon 1-23-25

Good Afternoon Dinar Recaps,

CYNTHIA LUMMIS NOMINATED TO LEAD NEW SENATE BANKING SUBCOMMITTEE ON DIGITAL ASSETS

Lummis stated that the subcommittee will bolster the idea of a US strategic Bitcoin reserve and will prevent crypto firms debanking.

Senator Cynthia Lummis (R-Wyo.) has been named the first chair of the newly established Senate Banking Subcommittee on Digital Assets, according to a Jan. 23 announcement.

As a result, Senate Banking Committee Chair Tim Scott (R-S.C.) places Lummis at the helm of legislative efforts to craft a regulatory framework for blockchain technology and crypto in the US.

Senator Lummis, known for her strong Bitcoin (BTC) advocacy, expressed her enthusiasm for the new role:

“Digital assets are the future, and if the United States wants to remain a global leader in financial innovation, Congress needs to urgently pass bipartisan legislation establishing a comprehensive legal framework for digital assets.”

Lummis also emphasized the strategic importance of bolstering the US dollar with a national Bitcoin reserve, a proposal that could position the US as a crypto trailblazer. She introduced the Bitcoin Act legislation last year at the Bitcoin 2024 conference in Nashville.

The subcommittee will prioritize passing bipartisan legislation focused on market structure, stablecoins, and consumer protections. It will also oversee federal financial regulators to ensure compliance with the law and prevent initiatives like “Operation Chokepoint 2.0,” which some lawmakers view as an overreach by regulators.

Scott praised Lummis as the ideal leader for this new subcommittee and described her as a steadfast champion of blockchain technology and crypto.

He said:

“Since day one, Senator Lummis has been a leader on digital assets legislation. Working with the Trump administration and our colleagues in the House, we will advance a commonsense regulatory framework to facilitate innovation here in the United States, not overseas.”

The bipartisan composition of the subcommittee includes Senators Thom Tillis (R-N.C.), Bill Hagerty (R-Tenn.), Bernie Moreno (R-Ohio), Dave McCormick (R-Pa.), Ruben Gallego (D-Ariz.), Mark Warner (D-Va.), Chris Van Hollen (D-Md.), and Tina Smith (D-Minn.). Gallego will be the ranking member, highlighting the subcommittee’s commitment to bipartisan collaboration.

The announcement has sparked optimism among the industry. Dennis Porter, co-founder and CEO of Satoshi Action Fund, said Lummis’ appointment was “a huge step forward” for advancing meaningful legislation, including the proposed Strategic Bitcoin Reserve.

Meanwhile, former Binance CEO Changpeng Zhao called the idea of a US Bitcoin reserve “pretty much confirmed” and commended the speed at which crypto developments unfold.

@ Newshounds News™

Source:  Crypto Slate

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TAIWAN TO UNVEIL DRAFT BILL ALLOWING BANKS TO ISSUE STABLECOINS

The Taiwanese financial regulator plans to unveil a draft bill for virtual asset service providers (VASPs) in June, which includes a proposal allowing banks to issue stablecoins.

Joint Management of Stablecoins

The Taiwanese Financial Supervisory Commission (FSC) is set to unveil a draft bill for virtual asset service providers (VASPs) in June. According to a report, a key highlight of the draft bill is a proposal to allow banks to issue stablecoins. FSC Chairman Peng Jinlong argues that the bill’s passage would facilitate Taiwanese investor participation in the virtual asset market.

The report quotes Zhuang Xiuyuan, a director at an unidentified bank, as saying that all stablecoins issued in Taiwan will require FSC approval. Xiuyuan suggested that unlike the current system where issuers self-certify their stablecoin backing, the new regime would see the regulator providing issuer qualifications.

Jinlong meanwhile disclosed that the stablecoins will be jointly managed by banks and Taiwan’s central bank.

Revelations that Taiwan plans to unveil a regulatory framework for virtual asset service providers (VASPs), including provisions for bank-issued stablecoins, come amid a U.S. push to regulate stablecoins.

One of the U.S. bills, the Lummis-Gillibrand Responsible Financial Innovation Act, mandates that issuers back stablecoins with high-quality liquid assets, such as short-term U.S. Treasury securities. Like the FSC draft bill, the Lummis-Gillibrand proposal requires issuers of payment stablecoins to obtain a federal license.

The Stablecoin TEFRA Act, backed by Rep. Patrick McHenry, proposes that only banks be allowed to issue stablecoins. While the McHenry-backed bill may seemingly have limited consumer protection provisions, the Lummis-Gillibrand bill is said to include provisions for consumer protection, such as disclosure requirements and anti-money laundering safeguards.

Similarly, the FSC’s draft VASP bill reportedly emphasizes anti-money laundering protocols and risk assessments.

@ Newshounds News™

Source:  Bitcoin News

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BRICS: US TARIFFS MAY DO MORE HARM THAN GOOD, DATA SHOWS

With the economic alliance becoming a clear challenger to the recently appointed president of the United States, the BRICS bloc has seen itself on the receiving end of US Tariff threats. However, that street goes both ways. Moreover, data shows that, in the end, it could do more harm than good to the Western nation.

Since his election victory, US President Donald Trump has not minced words in relation to BRICS. As the group has continually embraced de-dollarization efforts, he has fought back. Yet, using tariffs to ensure the stability and prominence of the US dollar could be a decision that has immense consequences.

Trump Tariff Threat to BRICS Nations Have Massive Implications for US, Data Says

During his campaign for reelection, Donald Trump had placed an immense focus on the US dollar’s status. Specifically, he reiterated the importance of ensuring that the greenback remained the world currency. Indeed, he said that its relegation from such a position would be akin to the nation “losing a war.”

That has led him to take action against the BRICS alliance early in his return to the Oval Office. Yet, the way he has chosen to go about challenging the group could end up being problematic. Ultimately, the BRICS US tariff threat could do more harm than good to the Western nation, data shows.

The major point of concern lies in the lopsided trade between the United States and BRICS nations. Specifically, Statista data shows that the US is currently running a trade deficit with the economic alliance nations overall. That means that the country imports far more than it sells to them.

The report notes that the group is almost certain to issue retaliatory tariffs. Moreover, that could give US importers a lot to lose in their total trade. In 2023, the US shipped nearly $300 billion in goods to the BRICS countries. Alternatively, it purchased nearly $650 billion worth of various merchandise.

There is the potential for lower trade tariffs, the report notes. This is even more likely considering Trump has held a disdain for trade deficits. Conversley, de-dollarization is a key point of emphasis.

It has not taken hold the way BRICS has hoped. Is the threat of tariffs worth awaiting if Trump sticks to his plan? Or can the mere threat of action drive the bloc to ensure the dominance of the greenback? 

The next several months will surely be filled with vital geopolitical developments, with the US and world economies hanging in the balance.

@ Newshounds News™

Source:  Watcher Guru

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Golden Age Better Include Free Markets or it will Fail Miserably

Golden Age Better Include Free Markets or it will Fail Miserably

Bix Weir:  1-23-2025

The prospect of a second Donald Trump presidency has ignited a fierce debate about the future of the American economy.

 Proponents envision a return to prosperity and a “golden age,” but critics raise concerns about the policies that might underpin such a vision.

One crucial element often overlooked, yet central to any sustainable economic success, is the health and freedom of the free market. While promises of growth and national strength are appealing, they cannot be achieved without a system that fosters genuine competition, reduces government interference, and allows the invisible hand of the market to work its magic.

The provided alert goes a step further, arguing that the very survival of free markets in the USA is contingent on dismantling the current global fiat financial monetary system.

This is a radical perspective, one that calls for fundamental change and asserts that incremental tinkering will not suffice. The core of this argument rests on the belief that the current system is inherently flawed, prone to manipulation, and ultimately detrimental to the principles of a truly free market.

One of the key grievances highlighted is the issue of “Official Derivative Market Rigging.” This refers to the belief that certain actors, potentially powerful financial institutions with close ties to governments, are manipulating derivative markets to their advantage, distorting prices and creating instability.

 While such claims are difficult to definitively prove without more transparency, the underlying concern resonates with many who feel the current financial system is opaque and favors the powerful over the average investor and entrepreneur.

The idea of tearing down the existing global monetary system is undoubtedly controversial. The fiat system, where currency is not backed by a physical commodity like gold, is the globally accepted norm.

However, critics argue that it allows for unchecked inflation, creates moral hazard, and empowers central banks to wield too much control.

The call for its destruction isn’t necessarily about advocating for a return to the gold standard; rather, it’s a demand for a more robust and decentralized system that is less susceptible to manipulation and better reflects the principles of free market competition.

The prospect of a Trump “golden age” is not guaranteed. It is inextricably linked to the vitality of the American free market.

 While drastic proposals to dismantle the global fiat system might seem extreme, they highlight genuine concerns about fairness, transparency, and the potential for manipulation within the current financial architecture.

Ultimately, a truly prosperous and sustainable economy requires a foundation of sound monetary policy, robust competition, and genuine freedom in the marketplace – achieved through reforms, regulations, and a system that promotes integrity and transparency, rather than relying on potentially destructive dramatic actions.

Therefore, focusing on fostering these fundamental principles is paramount, regardless of the specific direction the Trump agenda takes.

https://youtu.be/yIRXOOdOEhQ

Seeds of Wisdom RV and Economic Updates Thursday Morning 1-23-25

Good Morning Dinar Recaps,

CME’S XRP AND SOL FUTURES PAGE GOES LIVE: MAJOR STEP TOWARDS FEBRUARY 10 LAUNCH

In a significant development for the broader cryptocurrency market and ongoing digital asset adoption in the US and globally, the Chicago Mercantile Exchange (CME), the world’s largest derivatives marketplace, briefly added a futures page for XRP and Solana (SOL) to its staging subdomain.

This move indicates preparations for an official announcement regarding the launch of futures contracts for these two leading cryptocurrencies, set to go live on February 10, pending regulatory review.

XRP And SOL Futures On The Horizon?

The futures page was briefly visible before being taken down, after a user on social media platform X (formerly Twitter) shared a screenshot revealing its content.

The page highlighted that traders could engage in “regulated capital-efficient futures” for XRP and SOL, emphasizing the flexibility and risk management these contracts would offer.

Specifically, the contracts are expected to be available in both standard and micro-sized formats, allowing investors to scale their exposure to these cryptocurrencies more

Key features of the upcoming contracts include the ability to manage exposure to SOL and XRP through financially settled contracts in US dollars, eliminating the need for a crypto wallet.

This setup positions the CME’s offerings within a regulated environment overseen by the Commodity Futures Trading Commission (CFTC), which is known for its transparent pricing and financial safeguards.

James Seyffart, a Bloomberg expert, commented on the development, stating that the emergence of these futures contracts is both logical and anticipated, given the current market dynamics.

However, despite the excitement surrounding the potential introduction of XRP and SOL futures, market reactions have been relatively muted. Investors appear to be awaiting further official confirmation from the CME before making significant moves.

Short-Term Challenges, But Monthly Performance Remains Strong

At the close of the day, XRP was trading at $3.15, while Solana remained at $249. Both tokens recorded slight losses of approximately 2% over the past 24 hours, reflecting a broader trend in the cryptocurrency market as traders await catalysts to drive prices upward.

While the short-term outlook may seem challenging, both XRP and SOL have seen remarkable gains over the past month, with increases of 32% and 42%, respectively.

Solana recently reached a new record high of $293 just before Donald Trump’s presidential inauguration, while XRP has made impressive strides, hitting a seven-year high of $3.38, though it still falls short of its previous peak of $3.40 from the 2018 market rally.

As the market anticipates official confirmation regarding the CME’s futures contracts, the potential for XRP and SOL to enter a new price discovery phase remains.

If these futures are officially launched, they could significantly impact trading activity and investor sentiment for both cryptocurrencies, paving the way for further institutional interest and market growth.

@ Newshounds News™

Source:  Bitcoinist

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COINBASE EXECUTIVE DISCOVERS 430 BTC IN DOZENS OF ROSS ULBRICHT’S DORMANT WALLETS, VALUED AT $47M

▪️Coinbase exec discovers 430 Bitcoins linked to Ross Ulbricht, now worth $47M, untouched for over 13 years.

▪️Trump’s pardon of Ross Ulbricht sparks debate, as crypto community celebrates his release despite Silk Road’s criminal activities.

President Trump has kept one of his reelection promises by pardoning Ross Ulbricht, the founder of Silk Road and a key figure in the early days of Bitcoin, who has been in prison for 12 years. In a recent tweet, a Coinbase executive claimed that he discovered Bitcoin linked to Ross, valued at nearly $47 million, which has been untouched for more than 13 years.

430 Bitcoins Excluded from Government Seizure

Conor Grogan, Coinbase’s Director of Product Strategy and Business Operations, recently announced that he discovered around 430 bitcoins in several wallets linked to Ross Ulbricht, the founder of Silk Road.

This discovery comes after Ulbricht received a full pardon from President Donald Trump information
 Grogan highlighted that these bitcoins, valued at approximately $47 million today, were not part of the 174,000 BTC seized by U.S. authorities. This seizure occurred from Silk Road-affiliated wallets after the platform was shut down in 2013. These bitcoins have remained untouched for over 13 years.

In his post on X, Grogan shared a screenshot of what he believes is one of Ulbricht’s Bitcoin addresses, which currently holds 88.7 BTC, as verified by the blockchain explorer Mempool.

Conor said, “Back then these were probably dust wallets, now, collectively, they are worth about $47M. Welcome back Ross.”

He noted that these funds were likely considered insignificant at the time but now represent a significant value. Grogan also mentioned the possibility that Ulbricht might still have access to the private keys, suggesting that time would tell if they can be recovered.

Despite his criminal activities, Mr. Ulbricht remains popular among crypto enthusiasts because Silk Road was an early platform for Bitcoin transactions. His supporters believe his sentence was too harsh and have promoted the “Free Ross” slogan at industry events and online.

Why did Trump Pardon Ross Ulbricht?

President Trump’s pardon of Ross Williams Ulbricht follows through on his campaign pledges to confront what he calls a “weaponized government.” In a post on Truth Social announcing the pardon, Trump labeled Ulbricht’s conviction as a result of political corruption and openly criticized the prosecutors.

Ulbricht is celebrated as a cult hero among crypto enthusiasts, who see Silk Road as an early adopter of Bitcoin. The “Free Ross” slogan has been a popular rallying cry at blockchain events and in online forums for years. 

The crypto community, having reportedly donated over $100 million to Trump’s reelection campaign, played a significant role in Ulbricht’s release.  

However, critics are concerned that pardoning Ross Ulbricht could lead to more lenient treatment for similar crimes in the future. They point out the serious harm from drugs traded on Silk Road, arguing that it sends the wrong message about holding people accountable for profiting from illegal activities.

@ Newshounds News™

Source:  Coinpedia

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“Tidbits From TNT” Thursday Morning 1-23-2025

TNT:

Tishwash:  Al-Haimus: We were able to increase the business of the Iraq Stock Exchange by about 16 percent

The Chairman of the Securities Commission, Faisal Al-Haimus, announced today, Thursday, that the Commission was able to increase the business of the Iraq Stock Exchange by about 16 percent, while pointing to cooperation with the World Bank on governance.

Al-Haimus told the Iraqi News Agency (INA): "During the past year, we were able to increase the business of the Iraq Stock Exchange by about 16 percent," expressing his "hope that the current year will be a stronger start on the subject of benefiting from the agreements signed with the Abu Dhabi Financial Market and the Saudi Market, which will help attract investors from abroad and increase the business of the Iraq Stock Exchange."

Al-Haimus added that "cooperation has been made with the World Bank on governance, and we will have completed it by the end of the first quarter of this year." link

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Tishwash:  Al-Mashhadani: Iraqi-American relations will remain stable under Trump

Parliament Speaker Mahmoud Al Mashhadani expects bilateral relations between Iraq and the United States to stabilize under the new US President Donald Trump.

Al-Mashhadani said in a televised statement: "Trump's agenda is economic, not military, and he wants to put out fires and wars. Iraq is an oil country with many resources, and relations with America will remain stable."

He explained that "the Popular Mobilization Forces are a security institution and their existence is legal and linked to the Commander-in-Chief of the Armed Forces. The factions outside the control of the Commander-in-Chief of the Armed Forces are the ones being discussed.

" Al-Mashhadani ruled out "the United States and Iran going into conflict."

He pointed out that "if we need the presence of the international coalition, they will remain, and otherwise we will deal with it in the old way, which is negotiation," stressing that "coordination between the presidencies is at the highest levels."

The Speaker of the House of Representatives considered that "the current parliamentary session was born weak, and the election year is the weakest in terms of legislative and oversight productivity," noting that "the resolution of the accountability and justice file will be judicial." link

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Tishwash:  Hantoush: Electronic payment reduces the cost of paper currency and supports economic transparency

Researcher and specialist in financial and banking Mustafa Hantoush confirmed today, Tuesday, that electronic payment reduces the costs of paper currency and supports economic transparency.

Hantoush said in a statement to the Al-Maalouma Agency, “There are major developments in the electronic payment sector in Iraq,” noting that “the government has formed a special committee in cooperation with the Central Bank to support this system.”

He pointed out that "the value of electronic payment in Iraq witnessed a huge leap, as it did not exceed 300 billion dinars during the years 2020-2021, but today it has reached 10 trillion dinars," indicating that "this development was accompanied by a significant expansion in the use of financial technology within state departments, as the number of government departments that rely on this system increased from only 8 departments to more than 600 departments.”

He added, "The number of point-of-sale (POS) devices has witnessed remarkable growth, jumping from 8,000 devices to more than 40,000 devices, reflecting the rapid expansion in the infrastructure needed to implement electronic payment systems."

He explained that "electronic payment exempts the state from the high cost of printing paper currency, in addition to providing solutions to the cash liquidity crisis. It also enables the government to accurately read the market, monitor profitable sectors, and determine the locations of money flow, which contributes to strengthening the national economy."

He pointed out that "the government has succeeded in marketing the culture of electronic payment, but it still needs to exert more efforts to enhance public awareness about the importance of this system and increase reliance on it." link

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Mot: run spot run

Mot: Good Thing Florida Was Ready fer Da Snow!!!!

MilitiaMan & Crew Iraq Dinar News-Global Achievements-Globalism-Balance-Stability-Back to an Era-Commitments

MilitiaMan & Crew Iraq Dinar News-Global Achievements-Globalism-Balance-Stability-Back to an Era-Commitments

1-22-2025

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=uiG_AewjGks

Seeds of Wisdom RV and Economic Updates Wednesday Evening 1-22-25

Good Evening Dinar Recaps,

COINBASE SEEKS COURT RULING TO CLARIFY CRYPTO TRADES AND CHALLENGE SEC’S AUTHORITY: BLOOMBERG

As per a latest Bloomberg report, Coinbase Inc. asked the Second Circuit to say that digital token trades on its platform aren’t transactions governed under federal securities law.

“There is no more pressing issue in securities law today than the scope of the Securities and Exchange Commission’s authority to regulate secondary trades of digital assets,” Coinbase said in its petition docketed in the US Court of Appeals for the Second Circuit. The appeals court could “clear away the cloud that currently hangs over the cryptocurrency market,” it noted.

Second Circuit Ruling Could Accelerate Resolution

Notably, A decision by the Second Circuit stating that token trades aren’t securities transactions could speed up the end of the SEC’s case against Coinbase and ease US crypto regulations. The Trump administration has indicated that it will provide crypto companies with greater regulatory flexibility.

The case gives the appeals court a chance to weigh how it should apply the “Howey test” to crypto transactions. 

Coinbase argued in its brief that trades on its platform are not investment contracts, but asset sales. The US District Court for the Southern District of New York granted Coinbase’s request to seek an immediate appeal earlier this month in an SEC enforcement suit.

The US Chamber of Commerce and Blockchain Association have filed briefs supporting the Second Circuit’s review of the Coinbase case. 

They highlighted that the lack of clarity on whether crypto trades are investment contracts could have negative effects, as federal courts remain divided on the issue.

The Need For Legal Clarity

The SEC sued Coinbase in 2023, accusing the platform of operating as an unregistered securities exchange. Coinbase argues that its crypto trades aren’t investment contracts and thus not under SEC jurisdiction.

Coinbase’s chief legal officer emphasized the need for legal clarity on this issue. Meanwhile, Trump’s SEC has created a “crypto task force” to develop a clear regulatory framework, and the US Court of Appeals has ordered the SEC to explain its refusal to provide crypto-specific rules.

@ Newshounds News™

Source:  Coinpedia

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REPUBLICANS SEEK TO OVERTURN IRS CRYPTO BROKER RULE

Corresponding resolutions were introduced to “roll back the disastrous” rule requiring custodial brokers to report transactions

Congressional Republicans are working to reverse new IRS guidelines that require so-called “custodial brokers” to report transactions.

Rep. Mike Carey and Sen. Ted Cruz this week introduced corresponding resolutions seeking to “roll back the disastrous IRS broker rule.”

The legislation comes weeks after a group of crypto lobbying firms sued the IRS over the rule. They claim the requirement “exceeds the agencies’ statutory authority, violates the Administrative Procedure Act (“APA”) and is unconstitutional.”

As it currently stands, starting in 2025, custodial brokers are required to report gross proceeds. In 2026, they will have to report cost basis for certain transactions
.
The final version of the 1099-DA form was published at the end of last year. While earlier drafts had included a section where brokers had to identify their “type” of business, the final form nixed this box. It’s a small change, but by cutting this section the IRS more or less punted the issue of DeFi actors.

Even so, those opposed to the rule claim that the rule still imposes unfair reporting obligations on intermediaries and other actors in the crypto space.

The resolutions have some co-sponsors (Sens. Cynthia Lummis and Tim Sheehy, to name a few), but neither have been scheduled for a markup or vote just yet. This is a hot-button issue in the crypto space though, so we’d expect companies to be directing a significant amount of their lobbying efforts here.
@ Newshounds News™

Source:  Blockworks

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COINBASE CEO: EXCHANGE WILL DELIST USDT IF AUTHORITIES DEMAND IT

Coinbase CEO recently stated that his exchange would delist Tether’s USDT if authorities demand it or if Tether fails to comply with new US laws.

New Stablecoin Regulations on Horizon

Coinbase Global CEO Brian Armstrong has said his cryptocurrency exchange would have no choice but to delist the stablecoin issued by Tether, known as USDT, should authorities demand it.

Armstrong, who has lobbied the U.S. to create a cryptocurrency framework, added that Coinbase would take similar action if Tether fails to comply with any new U.S. laws.

However, according to a Wall Street Journal (WSJ) report, the CEO acknowledges that many of Coinbase’s users hold the stablecoin, and the company’s desire is to preserve this status quo.

Armstrong’s remarks about the possibility of Coinbase completely delisting USDT from its platforms come a month after the crypto exchange delisted the stablecoin on its platform used by Eurozone residents.

As reported by Bitcoin.com News, months before the delisting, Coinbase, which is a shareholder in another stablecoin issuer Circle, framed the move as part of its efforts to adhere to new rules requiring issuers to obtain an e-money license from a European Union member state.

The new rules also obligate stablecoin issuers to hold a portion of their reserves in cash at banks, something Tether reportedly opposes.

“There are a lot of people with tether, and we want to give them an off-ramp, if we want to help them transition to a system that we think is more secure,” Armstrong said.

With the U.S. set to shift its stance under Donald Trump, some believe that two stablecoin bills seeking to require stablecoin issuers to hold U.S. Treasury bonds will be passed. If enacted, such a law would compel Tether and other stablecoin issuers to liquidate non-U.S. Treasury assets.

Late last year, Tether, which posted a net profit of $2.5 billion in the third quarter of 2024, claimed to hold over $105 billion in cash and cash equivalents, with a notable $102.5 billion in direct and indirect exposure to U.S. Treasuries. Furthermore, the stablecoin issuer disclosed that it held assets, including precious metals and secured loans, with a face value of just over $20 billion.

While the enactment of laws proposed by U.S. lawmakers would require Tether to convert these assets to U.S. Treasury bonds, the WSJ report acknowledged that neither bill has made significant progress.

@ Newshounds News™

Source:  Bitcoin News

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Alasdair Macleod: We are Starting to See Advanced Institutional Demand for Gold

Alasdair Macleod: We are Starting to See Advanced Institutional Demand for Gold

Palisades Gold Radio:  1-22-2025

Tom welcomes back Alasdair Macleod, Head of Research at GoldMoney to discuss his insights into the silver market and its relationship with gold prices.

He suggests that despite a seemingly undersupplied market, the price disparity between gold and silver does not reflect this reality. Macleod anticipates a significant shift in investor behavior once patience runs thin among those who have already bought into gold but yet to enter the silver market.

The role of foreign investors, particularly central banks, in driving gold prices is highlighted. Macleod also emphasizes the importance of understanding the impact of the ongoing credit bubble on financial markets and encourages listeners to consider reducing their exposure to credit.

Alasdair expresses his views on Donald Trump's impact on gold prices, citing increased foreign demand due to Trump's status as an inflationist and his executive orders. However, concerns over tariffs and potential economic repercussions remain.

Macleod also touches upon historical examples of tariffs and interest rates and their relationship with an economy's purchasing power.

He emphasizes the importance of understanding this connection for investors during the upcoming credit bubble.

 Throughout the conversation, Alasdair highlights the importance of considering global economic trends and various factors influencing gold and silver prices. He also discusses the role of speculators versus central banks in driving these markets and the potential for a significant shift once investor sentiment changes.

Time Stamp References:

0:00 – Introduction

 0:39 - Trump & Macro Picture

 10:30 - Trump Inflationist

 15:26 - Strong Dollar Impact

19:24 - Debt, Yields, & Economy

26:18 - Global Bubbles & Dollar

33:04 - Gold Industry & ETFs

36:47 - Speculators & Price

 39:52 - Tariffs & C.B. Buying?

41:49 - Silvers Underperformance

 49:05 - Tariffs & Consequences

50:16 - Silver Supply Outcomes?

56:06 - Biggest Bubble & Wrap Up

https://www.youtube.com/watch?v=42xH9ZsIjzs&t=23s

Iraq Economic News and Points to Ponder Wednesday Afternoon 1-22-25

Expert: 70% Of Iraq's Remittances Are Controlled By Jordanian And Gulf Banks

Buratha News Agency992025-01-22  Economic expert Ahmed Abdel Rabbo confirmed today, Wednesday, that Jordanian and Gulf banks control more than 70% of financial transfers in Iraq, noting that the dollar is delivered to only four Jordanian and Gulf companies.

Abdul Rabbo said in a statement to / Al-Maalouma /, that "Jordanian banks did not provide any real services to Iraq," adding that "closing the dollar selling platform opened the way for Jordanian and foreign banks to take over the Iraqi financial market, which raised questions about the role of Iraqi financial institutions in this regard."

He pointed out that "Jordanian banks control more than 70% of financial transfers in Iraq," explaining that "this control constitutes a direct harm to Iraq's sovereignty and financial decisions, especially with the absence of any effective role for these banks in serving the Iraqi economy."

He called for "reviewing financial policies and strengthening the local role to ensure the stability of the country's financial sector."

Reports indicate that 8 Jordanian and Gulf banks control money transfer operations in Iraq, which led to these banks controlling the flow of dollars into the country. This control forced the exclusion of more than 1,000 Iraqi banks and offices, raising concerns about negative effects on the local economy and financial sovereignty.  https://burathanews.com/arabic/economic/455449

Exchange Rates Fall Against The Dinar In Baghdad And Erbil With The Closing

01/22/2025  Mawazine News – Economy  The US dollar exchange rate fell against the Iraqi dinar on Wednesday in the markets of Baghdad and Erbil, the capital of the Kurdistan Region, with the closing of the stock exchange.

The dollar exchange rate also fell with the closing of the two main stock exchanges in Baghdad, Al-Kifah and Al-Harithiya, to record 150.850 dinars per 100 dollars, while the dollar exchange rate this morning recorded 151.000 dinars per 100 dollars.

The selling prices in exchange shops in the local markets in Baghdad stabilized, where the selling price reached 152.000 dinars per 100 dollars, while the purchase price reached 150.000 dinars per 100 dollars.

In Erbil, the dollar also fell, where the selling price reached 150.700 dinars per 100 dollars, and the purchase price reached 150.600 dinars per 100 dollars  https://www.mawazin.net/Details.aspx?jimare=258898

Gold Soars To 11-Week High Amid Weak Dollar

01/22/2025   Mawazine News – Baghdad  Gold prices rose to an 11-week high in early Asian trading on Wednesday, supported by a weaker dollar and increased demand for safe havens due to uncertainty surrounding U.S. President Donald Trump's trade policies.

Price Update Spot gold was up 0.1 percent at $2,748.58 per ounce by 0105 GMT, after hitting its highest since Nov. 5 earlier in the session. U.S. gold futures were up 0.1 percent at $2,763.40, according to Reuters data. Trump declined to impose tariffs on his first day in office, pushing the dollar lower. A weaker dollar makes gold more attractive to foreign buyers. Gold is considered a safe-haven investment during economic and geopolitical uncertainty.https://www.mawazin.net/Details.aspx?jimare=258872

Al-Sudani Issues Directive To Ministries Concerned With The "Development Path"

Construction and reconstruction   Economy News – Baghdad  Today, Wednesday, Iraqi Prime Minister Mohammed Shia Al-Sudani directed the state ministries and institutions concerned with the Development Road Project to submit their data to Oliver Wyman Company, in order to prepare an integrated vision for the project.

This came during his chairmanship of the first periodic meeting of the year for the Higher Committee for the Development Road Project, in the presence of representatives of Oliver Wyman Company, which is concerned with providing consulting services for the project, according to a statement issued by his office.

Al-Sudani was briefed on the latest procedures related to the development road project and the stages of completion of the five projects of the Grand Faw Port, stressing the need to address the challenges facing the implementation of these projects quickly to ensure adherence to the specified timetables.

The Prime Minister also listened to a detailed presentation by the consulting company on the economic model for the Development Road Project, stressing the importance of keeping pace with the latest developments in the field of modern technologies and techniques.

The meeting also witnessed a review of the security plan for the project, in addition to presenting the results of the last quadripartite ministerial meeting held to discuss the development road project in the presence of the transport ministers from Iraq, the UAE, Turkey and Qatar. https://economy-news.net/content.php?id=52198

Industry Announces The Start Of Work On The Electronic Trademark Registration System

Ministry of Industry and Minerals  Money and business  Economy News – Baghdad  The Ministry of Industry and Minerals announced, on Wednesday, the launch of the electronic trademark registration system, while indicating that the system will contribute to shortening time, accelerating procedures, and reducing errors.

The ministry's spokeswoman, Dhuha Al-Jubouri, said in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News", that "in implementation of the government program and after the Minister of Industry and Minerals, Khaled Battal Al-Najm, announced the start of work on the electronic registration system for trademarks through the Ur electronic portal for government services and to simplify procedures, all beneficiaries of the services of the Trademark and Commercial Data Registration Directorate must use the electronic system and abandon paper work,

" calling on "all satellite channels to register the name of each satellite channel in the Trademark Registration Directorate to guarantee the rights to the name and logo of each satellite channel."

She added that "the ministry has taken its first steps towards digital transformation by completing the digitization of 100,000 files through intensive self-efforts with the use of artificial intelligence and according to specific technical mechanisms and solutions to reach an accurate image of the trademark and then move to electronic examination of the trademark."

She pointed out that "this matter will contribute to shortening time, accelerating procedures and reducing errors."    https://economy-news.net/content.php?id=52205

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

Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 1-22-25

Good Afternoon Dinar Recaps,

BRICS: 40 COUNTRIES LOOK TO DITCH THE US DOLLAR

BRICS member China is looking to convince 40 new countries to use the Chinese yuan for cross-border transactions and not the US dollar. The Communist country is aiming to capitalize on the growing de-dollarization trend and is pushing the Chinese yuan for trade.

For the uninitiated, the usage of the Chinese yuan for trade settlements has surged 4.6% in 2024, compared to 2% in 2019. The currency usage has more than doubled in six years and is threatening the prospects of the US dollar.

If the US fails to import the dollar overseas, it would return to the homeland leading to inflation. Therefore, the USD needs to maintain its top position in the currency markets to sustain the American economy and keep prices lower.

BRICS: CHINA SIGNING AGREEMENTS WITH 40 COUNTRIES TO USE THE CHINESE YUAN, NOT US DOLLAR

The People’s Bank of China (PBOC) has signed bilateral trade deals with over 40 countries to use the Chinese yuan for trade settlements. The trade agreement is with the central banks of developing countries and initiates currency swaps.

The overall scale of the currency swap agreement stands at 4.16 trillion yuan, equivalent to $586 billion. The development gives the BRICS country China power through the currency market and dampens the US dollar’s global prospects.

China, Russia, and Iran are the three BRICS countries that are aggressively looking to end dependency on the US dollar. They are forging new trade deals and rewriting policy settlements that prefer using local currencies.

The dynamics of de-dollarization are advancing as more countries are willing to trade in the national currencies. China is leveraging the situation and taking advantage of the White House weaponizing the US dollar.

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

BANK OF AMERICA READY FOR CRYPTO PAYMENTS — DECODING HOW BANKING WILL CHANGE FOREVER

Is the banking industry prepared for the disruption crypto payments might cause, and if Bank of America leads the charge, what lasting changes can we expect in how banks, businesses, and consumers interact?

Bank of America CEO advocates for crypto…

▪️Bank of America CEO advocates for crypto payments
▪️Bank of America’s twofold relationship with crypto
▪️How U.S. institutions are stepping into crypto
▪️Decoding the probable impact

Bank of America CEO advocates for crypto payments

The banking and crypto worlds have often seemed like two ships passing in the night — acknowledging each other’s existence but rarely finding common ground.

However, Bank of America CEO Brian Moynihan has now thrown his weight behind the idea of integrating crypto payments into the U.S. financial system — but only if regulators give the green light.

Speaking at the prestigious World Economic Forum in Davos, Switzerland, Moynihan addressed a question that has long lingered over the industry — what would it take for banks to embrace crypto as a payment method?

“If the rules come in and make it a real thing that you can actually do business with, you’ll find that the banking system will come in hard on the transactional side of it,” Moynihan remarked during an interview with CNBC.

“If you go down the street here and buy lunch, for example, you could pay with Visa, Mastercard, a debit card, Apple Pay, and so on. In that sense, cryptocurrency would just be another form of payment,” Moynihan explained.

He also discussed a growing realization that crypto — especially stablecoins backed by traditional assets like the U.S. dollar — could seamlessly integrate into existing payment networks.

“If it’s a stablecoin-type of dollar-backed crypto…and our consumers actually want to use it, we think there’s value there,” Moynihan said, hinting that banks could view these tokens as a safer entry point into the crypto payments space.

However, Moynihan did not touch upon the notion of cryptocurrencies like Bitcoin as an investment or store of value, stating that it is “really a separate question.”

Bank of America’s twofold relationship with crypto

Bank of America has not always been optimistic about crypto. For years, the institution’s top executives voiced strong concerns, often portraying crypto as a challenge to the transparency and security upon which the banking system relies.

Back in 2018, BofA’s Chief Technology Officer, Cathy Bessant, expressed sharp criticism of crypto’s fundamental structure, stating:

“As a payment system, I think it’s troubling because the foundation of the banking system is on the transparency between the sender and the receiver, and cryptocurrency is designed to be nothing of the sort.”

She labelled crypto as the “antithesis” of transparency, mentioning how its pseudonymous nature made it difficult for authorities to “catch bad guys.”

However, over the years, BofA’s stance has drastically evolved. The bank has invested heavily in blockchain, recognizing its potential to enhance efficiency, reduce costs, and modernize financial systems.

“We have hundreds of patents on blockchain already,” CEO Brian Moynihan remarked recently in Davos.

The bank’s interest in crypto itself has also grown. In 2024, BofA’s Merrill Lynch added Bitcoin exchange-traded funds to its brokerage platforms for eligible wealth management clients.

The U.S. Securities and Exchange Commission recently announced the creation of a crypto task force aimed at establishing a “sensible regulatory path,” which could provide the necessary guidance for banks like BofA to integrate crypto payments into their operations.

@ Newshounds News™

Read more:  Crypto News

~~~~~~~~~

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Introducing ERS, Ending Income Tax as we Know it

Introducing ERS, Ending Income Tax as we Know it

Mark Moss:  1-21-2025

What if the dreaded annual ritual of filing income tax could be banished to the history books? Imagine a world where your hard-earned paycheck isn’t immediately chipped away by the IRS.

It might sound like a financial fantasy, but President Donald Trump is suggesting just that, with a revolutionary proposal to fundamentally alter the American taxation system.

Trump’s plan, dubbed the External Revenue Service (ERS), isn’t about tinkering around the edges. It proposes a complete overhaul, aiming to remove the burden of income tax from American citizens entirely.

The radical shift? Generating government revenue not from internal income, but primarily from foreign trade. This audacious plan, far from being a modern invention, actually echoes the way the U.S. used to fund itself in the past.

Mark Moss, a financial commentator known for his insights, has delved into the details of Trump’s ambitious ERS proposal, revealing the potential ramifications for the U.S. and the world. This isn’t just a political talking point; it’s a seismic shift in financial philosophy that could redefine how America funds its government.

The premise of the ERS is surprisingly straightforward: instead of taxing your wages, the government would primarily collect revenue through tariffs and other fees on goods and services entering the U.S. This would mean that businesses importing goods would contribute directly to government funds, rather than individuals shouldering the burden of income tax.

Skeptics abound, and for good reason. Implementing such a sweeping overhaul of the taxation system would be an incredibly complex political undertaking. There would need to be a complete overhaul of infrastructure and potentially new departments to facilitate this change. This would involve a huge amount of legislative support and public buy-in.

While the probability of the ERS becoming a reality remains uncertain, the discussion itself is crucial. Whether it succeeds or not, this proposal could initiate a much-needed conversation about the very foundations of taxation and whether the current model best serves America.

President Trump’s ERS proposal is far more than just a political talking point; it’s a potential paradigm shift in how governments are funded and how citizens participate in the economy. While challenges and uncertainties remain, the prospect of a tax system that frees Americans from income tax is a tantalizing one.

Whether this radical vision comes to fruition or not, it’s undoubtedly a financial development worth watching, as it could very well be one of the most significant financial shifts of our lifetime.

https://youtu.be/u_mVPIZPpfk

Seeds of Wisdom RV and Economic Updates Wednesday Morning 1-22-25

Good Morning Dinar Recaps,

EU ENFORCES STRICT STABLECOIN REGULATIONS, ORDERS REMOVAL OF NON-COMPLIANT TOKENS

The EU regulator has ordered all crypto exchanges to remove unauthorized stablecoins like Tether by March 2025, with a ban on new acquisitions starting January 2025, as part of its comprehensive stablecoin regulation implementation.

▪️EU regulator ESMA mandates crypto exchanges remove non-compliant stablecoins by end of Q1 2025
▪️Tether’s USDT will be affected as it lacks EU authorization and has no plans for MiCA compliance
▪️Exchanges must stop enabling clients to acquire unauthorized stablecoins by January’s end
▪️Clients holding non-compliant stablecoins have until March to convert to compliant alternatives
▪️Major exchanges like Coinbase have already begun restricting services for non-compliant stablecoins

The European Securities and Markets Authority (ESMA) has issued a clear directive to the 27 EU member states requiring the removal of non-compliant stablecoins from trading platforms.

 The announcement sets a firm deadline of Q1 2025 for full compliance with the EU’s stablecoin regulations.

Under the new requirements, crypto asset service providers (CASPs) must cease offering trading services for unauthorized asset-referenced tokens (ARTs) and electronic money tokens (EMTs). This mandate specifically targets stablecoins that lack proper EU authorization, notably affecting major players like Tether’s USDT.

The timeline established by ESMA requires exchanges to stop enabling new acquisitions of unauthorized stablecoins by the end of January 2025. Current holders of these assets will have until the end of March to convert their holdings to compliant alternatives, ensuring an orderly transition in the market.

Leading cryptocurrency exchange Coinbase has already taken steps to align with these requirements. The company restricted services related to non-compliant stablecoins for its Retail, Exchange, and Prime Vault customers across its European operations starting December 13, 2024.

Tether, one of the largest stablecoin issuers globally, has shown its response to the regulatory pressure by discontinuing its euro stablecoin, EURT, in November. The company has not obtained the necessary e-money license to operate within the EU, unlike competitor Circle, which secured its license in July.

The European Commission has provided additional clarity on the regulations through Peter Kerstens, an advisor involved in drafting the legislation. Kerstens emphasized that the rules are straightforward: unauthorized crypto-assets cannot be listed, regardless of their underlying currency.

Questions had arisen in the crypto community about whether the regulations would affect stablecoins that were already listed before the MiCA regulations came into force. The Commission’s clarification confirms that pre-existing listings are not exempt from the new requirements.

The regulatory framework requires that any entity offering or seeking admission for stablecoins within the EU must either be a bank or an e-money institution and publish a white paper. Third parties may offer these tokens only with the issuer’s consent, and the issuer must still maintain proper authorization.

ESMA’s clarification came after the authority itself sought guidance from the European Commission, highlighting the complexity of implementing these regulations.

This consultation process has resulted in a clear interpretation: crypto exchanges qualify as third parties seeking admission and must ensure their listed stablecoins comply with all regulatory requirements.

For crypto exchanges operating in the EU, this means conducting a thorough review of their stablecoin offerings. They must verify that each listed stablecoin either has proper authorization or must be removed from their trading platforms by the specified deadline.

The regulations also address concerns about monetary sovereignty, particularly regarding non-Euro stablecoins. However, these rules primarily focus on real-world payments rather than crypto trading activities.

EU authorities are emphasizing the importance of an orderly transition to prevent market disruption. Exchanges are expected to communicate clearly with their users about the upcoming changes and provide guidance on converting non-compliant stablecoin holdings.

Industry observers note that these measures align with the EU’s broader strategy to create a regulated and secure cryptocurrency market. The clear deadlines and requirements aim to provide stability and protection for market participants.

Current holders of non-compliant stablecoins are advised to stay informed about their exchange’s compliance timeline and prepare for the necessary conversions before the March deadline. Exchanges are expected to provide detailed instructions and support for this transition process.

@ Newshounds News™

Source:  Blockonomi

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CIRCLE STRENGTHENS USDC ECOSYSTEM WITH HASHNOTE ACQUISITION AND TOKENIZED FUNDS

▪️Circle’s acquisition of Hashnote and integration of USDC and USYC into the Canton Network strengthen its position in tokenized finance, bridging DeFi with traditional markets.

▪️Circle’s innovations and increased demand for tokenized assets could drive Ethereum adoption, reinforcing its role as a foundational blockchain in global finance.

After Circle donated 1 million USDC to Trump’s inaugural committee, CNF highlighted this as a significant step in showcasing stablecoin acceptance in mainstream politics. Circle’s next move, the acquisition of Hashnote, further expands its influence in tokenized asset growth and the $48 billion USDC stablecoin ecosystem.

Hashnote, a leader in tokenized real-world assets and creator of USYC, a $1.3 billion tokenized money market fund, is a strategic acquisition that positions Circle at the forefront of bridging blockchain technology with traditional finance. The acquisition was announced in a tweet, emphasizing its positive implications.

The integration of USYC with Circle’s platform enables it to serve as yield-bearing collateral on major digital asset exchanges and institutions, strengthening both the USDC and USYC ecosystems.

Strengthening USDC and USYC Ecosystems

Circle plans to integrate USDC and USYC into the Canton Network, a blockchain designed for real-world asset transactions backed by leading financial institutions. 

A tweet from Circle highlighted the partnership with DRW, a prominent traditional and crypto market player via its affiliate Cumberland, as a critical step in enhancing institutional adoption and operational efficiency in digital finance.

The partnership with DRW, a major player in traditional and crypto markets via its affiliate Cumberland, is a huge unlock for supporting USDC and USYC and elevating institutional adoption and operational efficiencies in digital finance.

This integration provides seamless convertibility between cash (USDC) and yield-bearing assets (USYC), ensuring liquidity and bridging decentralized finance (DeFi) with traditional financial markets. Circle’s collaboration with Cumberland also improves liquidity and collateral management for institutional digital asset transactions.

Circle CEO Jeremy Allaire emphasized the company’s commitment to shaping the future of tokenized finance by uniting liquid payment systems with yield-bearing assets. This acquisition marks a significant step toward creating a unified system where tokenized cash and money markets coexist, driving adoption across global trading platforms.

Implications for Ethereum’s Ecosystem and Market Value

These developments have substantial implications for Ethereum, the blockchain supporting both USDC and USYC. As Circle strengthens its tokenized asset ecosystem, demand for Ethereum’s network is likely to rise due to increased transaction volumes and DeFi integrations.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

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“Tidbits From TNT” Wednesday Morning 1-22-2025

TNT:

Tishwash:  Iraq's economy on the verge of collapse.. Expert warns of the consequences of not passing the amendment to Article 12

Oil expert Kovind Shirwani commented on Tuesday (January 21, 2025) on amending Paragraph 12 related to the export of Kurdistan Region oil.

Sherwani told Baghdad Today, "The amendment was submitted by the Federal Government Presidency in consultation with the Ministry of Oil, and it addresses a major dispute over calculating the region's oil production fees."

He added, "Because of the dispute, the region's oil exports were halted for 22 months, and the losses to the Iraqi economy due to the halt of 400,000 barrels of oil per day reached 18 billion dollars."

He pointed out that "not obstructing the amendment of Article 12 will harm all of Iraq and the country's economy, which loses between 800 and 900 million dollars per month due to the halt in exports. Passing this amendment will support the budget with these funds, and thus the first beneficiary of passing the amendment is the Iraqi economy, and not passing it is the Iraqi economy. It is unfortunate that this amendment is portrayed as serving the region only, and this is a great fallacy."

The Finance Committee of the House of Representatives announced on Sunday (January 19, 2025) the imminent vote on amending Article 12 of the budget related to the Kurdistan Region’s oil, while pointing to the most prominent proposals submitted to amend this paragraph.

The head of the committee, Atwan Al-Atwani, said in a speech during a committee meeting, according to a statement received by "Baghdad Today", that "the committee's meetings are continuing to discuss amending Article 12 of the budget law related to the Kurdistan Region's oil," indicating that "the committee has reached the final stages of completing the hosting and providing a lot of information in preparation for voting on the amendment today."

He added, "It is necessary for there to be a decision from the committee to submit the draft law to a vote," expressing his hope that "an agreement will be reached to vote on this draft law, which complements the 2023 budget."

He pointed out that "a number of committee members have raised many paragraphs and submitted proposals, and we will raise them so that everyone is aware of them, but they cannot be added considering that the project is an amendment and not budget tables," indicating that "the committee's opinion from the beginning is to proceed with amending the law, but we do not want the clauses and amendments to be like their predecessors, unproductive amendments."

Al-Atwani explained that “the committee added to the amendment paragraphs the obligation of the parties, whether the Ministry of Finance or the Ministry of Oil Resources, to abide by the outputs of the consulting company,” stressing that “there must be an obligation for both parties.”

Al-Atwani concluded by saying: “The consulting company must have a working period that may end in 2025, and it has not achieved results,” stressing that “we are keen to implement the results during this year to be a basis for 2026 link

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Tishwash:  Al-Sudani: Iraq is a pivotal partner and national decision-making sovereignty is a priority

Prime Minister Mohammed Shia al-Sudani stressed that Iraq has a special status in dealing with the will to survive, stressing that "the Iraqi people are among the most proud and self-confident personalities, and cannot be subject to anyone, whoever they may be.

The Prime Minister said, in an interview with Elaph website: Washington is a major partner of Iraq, and the government is working to build a stable institutional relationship with it, noting that the government is determined to build a new Iraq based on its cultural heritage.

Al-Sudani pointed out that portraying Iraq as subordinate to any country contradicts the historical character of the country," stressing that "the relationship between Iraq and the United Kingdom enjoys a unique special status."

He added that "Baghdad is working to build a stable institutional relationship with Washington, as the United States remains a major partner of Iraq, and we are committed to a policy of openness and true partnership," indicating: "Today we are facing a new stage in our relationship with the United Kingdom, and Iraq plays a pivotal role as an effective mediator between various regional parties, and Baghdad has become a center for calm dialogue that aims to bridge the gap between the parties."

He explained that "Riyadh is a partner “It is essential to Iraq’s economic equation, and that the electrical connection with Saudi Arabia is not just a technical project, but a step towards achieving long-term economic integration,” stressing that “the country is moving confidently towards institutional reform.”

He pointed out that “the government is working to integrate the armed factions within the legal and institutional frameworks, and is determined to build a new Iraq based on its Arab cultural heritage.”link

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Tishwash:  The President of the Republic discusses ways to enhance relations between Iraq and Honeywell Energy Company

President of the Republic Abdul Latif Jamal Rashid discussed ways to enhance relations between Iraq and Honeywell Company in the oil and energy industries.

The presidency said in a statement, "President of the Republic Abdul Latif Jamal Rashid received today at his residence in Davos, CEO of Honeywell Energy and Sustainability Solutions Ken West.

The statement added, "During the meeting, ways to enhance relations between Iraq and Honeywell Company in the oil and energy industries were discussed.

The President of the Republic referred to the current stability in Iraq at all levels and the investment opportunities available in various sectors. The

President stressed Iraq's desire to develop the management of oil and gas wealth in Iraq and control the burning of associated gas due to its impact on air quality, explaining Iraq's readiness to activate communication mechanisms and provide the necessary facilities for the work of Honeywell Company and exchange experiences with it in a way that helps raise the level of the energy sector in the country.

For his part, West stressed Honeywell's desire to develop relations with Iraq at all levels, especially investment in the field of oil industries and the development of wells, in a way that enhances the positive partnership link

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Mot: ...... Ain't Gunna Lie

Mot: .. Ssiiiigggghhhhhhh!!!!