Seeds of Wisdom RV and Economic Updates Thursday Evening 2-6-25

Good Evening Dinar Recaps,

US SENATE PANEL APPROVES CRYPTO ADVOCATE, BILLIONAIRE HOWARD LUTNICK FOR COMMERCE SECRETARY

The Senate Commerce, Science, and Transportation Committee advanced the candidacy of Howard Lutnick, a crypto proponent and billionaire entrepreneur, to the position of Commerce secretary by a vote of 16–12.

America’s technological and financial scene undergoes a radical change and a wealthy man with strong ties to cryptocurrencies is leading important national initiatives valued in hundreds of billions of dollars.

Lutnick: Major Tech Programs Hang In The Balance

Lutnick’s appointment places him in charge of the $280 billion CHIPS and Science Act and the massive $42.5 billion BEAD program. These figures don’t only appear on paper; they reflect America’s determined efforts to transform its semiconductor sector and technical infrastructure. With global tech supremacy on the line, the stakes are higher than ever

Warren’s Crypto Concerns Spark Fierce Debate

The confirmation hasn’t been without its share of fireworks. Senator Elizabeth Warren has thrown down the gauntlet, demanding answers about Lutnick’s ties to Tether, the controversial stablecoin issuer.

Her January 28 letter pulled no punches, questioning everything from Cantor Fitzgerald’s investment in Tether to potential compliance issues. The plot thickened when it emerged that Lutnick’s financial disclosure form detailed assets worth over $806 million and involvement in 800 entities.

Washington is split by the confirmation as Ranking Member Maria Cantwell voted against Lutnick, citing inadequate dedication to current program goals. One thing is evident as this billionaire entrepreneur takes on his new position: the tech and crypto scene of America is set to change and might even completely alter the digital future of the country.

Cruz Champions Tech Policy

While Warren raises red flags, fellow Senator Ted Cruz is upbeat about what he sees as a victory for tech innovation. His vision? A complete reimagining of the BEAD program, moving away from its fiber-optic focus to embrace alternatives like satellite internet and fixed wireless. It’s a stark departure from previous policies, with Cruz dismissing the former Biden administration’s approach as riddled with “lawless conditions.”

Bitcoin Dreams And Stablecoin Schemes

Lutnick is open about his plans for cryptocurrency. At the 2024 Bitcoin Conference in Nashville, he confidently stated that cryptocurrency is “the future of financial independence.” He wants to require checks for stablecoins and might create a national Bitcoin reserve. This idea has made crypto fans excited but has worried traditional finance regulators.

The newly formed SEC Crypto Task Force, under Commissioner Hester Peirce, will work closely with Lutnick to navigate these uncharted waters.

@ Newshounds News™
Source:  Bitcoinist

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CZECH REPUBLIC PASSES CRYPTO-FRIENDLY LAW, EXEMPTS BITCOIN FROM CAPITAL GAINS

The Czech Republic has passed legislation exempting Bitcoin and other digital assets from capital gains tax if held for more than three years.

President Petr Pavel signed the law, according to BTC Prague, aligning the country’s crypto taxation with traditional securities.

The tax exemption applies to individuals and non-business activities, eliminating previous tax disadvantages for long-term crypto investors. The amendment, set to take effect in mid-2025, brings the Czech Republic’s regulatory framework in line with the European Union’s Markets in Crypto-Assets rules.

The Chamber of Deputies approved the law in January as part of broader efforts to modernize the country’s financial regulations. Under the new rules, Bitcoin holders who sell their assets after three years will no longer owe income tax on profits, mirroring the tax treatment of long-term stock investments.

Czech Bitcoin reserve

The Czech National Bank is reviewing a proposal to add Bitcoin to its reserves, but the process may take months, and any exposure would be far lower than the initially suggested 5%, sources say.

Governor Ales Michl introduced the idea, but European Central Bank President Christine Lagarde dismissed the proposal, emphasizing the need for liquidity and security in reserves.

In response, the Czech National Bank commissioned a study to evaluate Bitcoin’s feasibility, with Michl stating he would accept its findings, even if they reject the plan.

@ Newshounds News™
Source:  CryptoNews

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Seeds of Wisdom RV and Economic Updates Thursday Afternoon 2-6-25

Good Afternoon Dinar Recaps,

BRICS: TRUMP SPARES INDIA AFTER THEY OFFICIALLY EMBRACE THE US DOLLAR

US President Donald Trump has spared BRICS member India from tariffs as they officially embraced the US dollar for trade. Trump imposed 25% tariffs on Mexico and Canada and ignited a global trade war. He also imposed 10% tariffs on China and could go further if they advance the de-dollarization agenda.

However, BRICS member India has been spared from tariffs as they spoke positively about using the US dollar for cross-border transactions. India’s Foreign Minister S. Jaishankar repeatedly said in multiple interviews that they do not support the de-dollarization initiative. He explained that India will settle trade in local currencies with other countries only when it fits the trade agreement.

Jaishankar also praised Trump and said that India has a good relationship with the new White House administration. “We’ve always said that India has never been for de-dollarization,” he said at various press conferences.

He made it clear that India will work closely with the US and will use the dollar for payment settlements. The Minister also revealed that India is not working towards the formation of a new BRICS currency and will not support bringing the US dollar down.

BRICS: India Plays It Safe By Supporting the US Dollar

The Reserve Bank of India (RBI) Governor Shaktikanta Das also pitched in saying that India does not support de-dollarization. “Nobody is talking about or thinking about de-dollarization. There is no step we have taken to de-dollarize,” said Das to Bloomberg. “De-dollarization is certainly not our objective and is not on the table. BRICS currency was an idea raised by one of the members and was discussed but no decision has been taken.”

All these statements made Trump spare BRICS member India as they fully support the US dollar’s prospects. India also needs the US dollar as its economy depends on America’s progress through Information Technology and other sectors. The US has invested heavily in India as backend offices and meddling with businesses could prove costly for the Modi government.

@ Newshounds News™

Source:  Watcher Guru

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CFTC ACTING CHAIR SAYS THE AGENCY IS ENDING REGULATION BY ENFORCEMENT

The commission will divide its enforcement responsibilities into two task forces focused mainly on “complex fraud” and retail fraud.

Caroline Pham, acting chair of the US Commodity Futures Trading Commission (CFTC), announced that the agency would be winding down its practice of regulation by enforcement, likely impacting its approach to crypto firms during the Trump administration.

In a Feb. 4 notice, Pham said the CFTC was restructuring the priorities for its Division of Enforcement to focus on fraud, suggesting that the move “will stop regulation by enforcement” against “good citizens.” 

The commission will divide its responsibilities into two task forces focused mainly on retail fraud and violations of the Commodity Exchange Act and “complex fraud and manipulation.”

“This taskforce realignment will enhance our vigorous and energetic enforcement program by empowering our talented staff to focus their expertise on matters that secure justice for victims and uphold public confidence in the integrity of our markets,” said acting enforcement director Brian Young.

The shift in the commission’s approach to enforcement was one of Pham’s first actions since becoming the CFTC acting chair on Jan. 20 following former chair Rostin Behnam’s stepping down. At the time of publication, it was unclear whom US President Donald Trump intended to nominate to fill Behnam’s seat at the CFTC once he leaves on Feb. 7.

@ Newshounds News™
Source:  CoinTelegraph

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Smart Money and BRICS are Rushing into Gold

Smart Money and BRICS are Rushing into Gold

Wealthion:   2-6-2025

The global financial system may be teetering on the edge of a significant shift. Skyrocketing global debt, struggling central banks, and a seemingly paradoxical rise in gold prices, even amidst a strong dollar and elevated bond yields, are raising serious questions about the future of our economic stability.

Recently, financial expert Jonathan Wellum joined Trey Reik of Bristol Gold Group to dissect these complex issues, offering insights into why gold is outperforming its traditional role and what potential pitfalls lie ahead. Their analysis paints a picture of a system under pressure, ripe with opportunities and fraught with risks.

Historically, a strong dollar would typically dampen gold’s appeal. However, the current environment is witnessing a decoupling. Wellum and Reik argue that gold is no longer simply reacting to currency fluctuations, but is behaving as a haven asset reflecting dwindling confidence in fiat currencies themselves.

This “powering over” of gold suggests a growing distrust in the ability of governments to manage their fiscal responsibilities, leading investors to seek the perceived safety and stability of precious metals.

The United States’ national debt, currently exceeding $36 trillion, looms large over the global economy. This unsustainable level of debt is arguably distorting market dynamics and creating systemic risks. Wellum and Reik highlight how this debt burden necessitates continuous borrowing, leading to a cycle of increasing interest payments and further compounding the problem. This unsustainable trajectory is forcing investors to re-evaluate their strategies and consider alternative assets.

As concerns about the stability of the global financial system grow, sophisticated investors are increasingly turning to gold as a hedge against uncertainty. This shift in investment strategies signals a growing recognition that traditional asset classes may be vulnerable in the face of mounting debt and economic instability. The demand for gold as a safe haven is likely to intensify as these anxieties persist.

The conversation also addressed the potential for increased market volatility. With rising interest rates, persistent inflationary pressures, and the looming debt crisis, the stock market faces significant headwinds. Wellum and Reik suggested investors should prepare for a period of heightened uncertainty and potentially adjust their portfolios to mitigate downside risk. They emphasize the importance of understanding the interconnectedness of these factors and their potential impact on asset valuations.

Central bank credibility is also under scrutiny. The Federal Reserve’s handling of inflation and interest rate policy has faced criticism, leading to a decline in public trust. This erosion of trust in monetary policy further fuels the demand for alternative assets like gold, seen as a store of value independent of government control. The future role and effectiveness of central banks in managing economic stability are now being questioned.

The discussion also explored different ways to gain exposure to gold. While owning physical gold bullion offers direct protection against currency devaluation and systemic risk, investing in gold mining companies provides leverage to rising gold prices. Wellum and Reik debated the merits of each approach, highlighting the potential for higher returns in gold miners but also acknowledging the increased risk associated with individual company performance and operational challenges.

Finally, the impact of geopolitical tensions, particularly the potential for renewed trade wars under a Ttump administration, was discussed. The imposition of tariffs and other protectionist measures can disrupt global supply chains, increase inflation, and further destabilize the economic landscape, driving investors towards safe haven assets like gold.

These geopolitical uncertainties underscore the importance of diversifying portfolios and considering assets with inherent value independent of political maneuvering.

The analysis presented by Wellum and Reik paints a concerning, yet crucial, picture of the current financial system. They suggest that the confluence of factors – unsustainable debt levels, central bank challenges, and geopolitical instability – is creating an environment ripe for market volatility and potentially significant economic disruption.

While the future remains uncertain, the enduring appeal of gold as a safe haven asset serves as a potent signal, urging investors to carefully reassess their strategies and prepare for the potential for a significant shift in the global financial landscape.

https://youtu.be/acq20Cdzvgg

Iraq Economic News and Points to Ponder Late Wednesday Evening 2-5-25

The Ministry Of Planning Discusses With The World Bank The Preparation Of A Roadmap For Building Human Capital In Iraq

Wednesday 05 February 2025 | Economic Number of readings: 150    Baghdad / NINA / The Ministry of Planning held a joint meeting with the World Bank on Wednesday, during which they discussed joint cooperation in the field of preparing a roadmap for building human capital in Iraq.

A statement by the ministry stated that "Undersecretary of the Ministry Maher Hammad Johan headed the Iraqi side, while the World Bank team was headed by the Regional Director for Human Development in the Middle East and North Africa, Fadia Saada.

Johan explained: "The importance of the human capital building project comes from its contribution to achieving development goals," stressing Iraq's endeavor to harness efforts towards improving investment in human capital, keeping pace with global trends, and responding to local needs for human development,

in addition to identifying investment priorities and directing them towards making fundamental changes at the level of policies, plans, programs and all government interventions, and in effective partnerships with the international community, the local community and the private sector," calling for more cooperation with the World Bank in this field.

For her part, the Regional Director for Human Development in the Middle East and North Africa, Fadia Saadeh, said: “Investing in human capital is essential for the future of the country, and Iraq has the ability to harness its young population as an engine of economic growth,” indicating: “Bridging the service delivery gaps is in education and health care, expanding access to social protection, and creating job opportunities, especially for women and youth.”

She added: “If reforms are implemented effectively, Iraq can transform its current challenges into opportunities, and ensure a more equitable and prosperous future for all its citizens.”

The meeting witnessed the presentation of three presentations, the first of which was on the priorities and programs of the National Development Plan (2024-2028), presented by the Director General of the Department of Economic and Financial Policies, Sabah Jundi Mansour, the second presentation was on the recommendations of the first national conference on human capital in Iraq, and the next steps, presented by the Director General of Human Development, Dr. Maha Abdul Karim Al-Rawi, and the last presentation was from the World Bank team on the future outlook for human capital projects in Iraq. /End8    https://ninanews.com/Website/News/Details?key=1183964

Finance Minister To Parliamentary Delegation: The Ministry Is Committed To Implementing Reforms To Boost Non-Oil Revenues

Wednesday 05 February 2025 | Economic Number of readings: 23   Baghdad / NINA / Minister of Finance Taif Sami affirmed the ministry's commitment to implementing financial reforms that would enhance non-oil revenues and achieve financial sustainability.

A statement by the Ministry of Finance stated: "Minister Taif Sami received, today, Wednesday, at the ministry's headquarters, a number of members of the Council of Representatives, and during the meeting, their requests and those of citizens were listened to,

 in addition to discussing the mechanisms for implementing the general budget, following up on the allocations of service and development projects, in addition to discussing ways to support productive sectors and provide the necessary resources to improve the level of services provided to citizens."

The minister affirmed, according to the statement, the ministry's commitment to implementing financial reforms that would enhance non-oil revenues and achieve financial sustainability in accordance with approved government programs.

The representatives praised the ministry's efforts in managing the financial file, and stressed the importance of enhancing joint cooperation to ensure the achievement of economic goals.

The parliamentary delegation included the following MPs: Manal Al-Maslamawi, Rafiq Al-Salihi, Luqman Al-Rashidi, Mudhar Al-Karawi, Hassan Al-Masoudi, Fatima Al-Hawi, Ala Al-Nashi, Sarah Al-Dulaimi, Mona Al-Jubouri, Faisal Al-Naili, Wafaa Al-Shammari, Suhaila Al-Sultani, Mustafa Al-Karawi, Amal Al-Nasiri, Osama Al-Badri, Ahmed Rashid Salmani, Basem Nghamish Al-Gharbawi, Mahasin Al-Dulaimi, and Hassan Al-Asadi. / End   https://ninanews.com/Website/News/Details?key=1184007

Finance On Restructuring Of Rafidain, Rashid And Insurance Companies: A Fundamental Step

Banks   Economy News – Baghdad   Today, Wednesday, Finance Minister Taif Sami discussed following up on the procedures for restructuring Rafidain and Rashid Banks and insurance companies.

The ministry said in a statement that "Sami held an expanded meeting with the head of the Insurance Bureau, directors of government banks and insurance companies, and the international auditing and oversight firm Ernst & Young, to follow up on the measures taken to implement the restructuring of insurance companies and government banks, most notably Rafidain and Rashid Banks."

According to the statement, Sami pointed out that "the restructuring represents a fundamental step to enhance financial stability and improve the efficiency of government banks in accordance with international standards," noting "the importance of developing banking systems, enhancing internal control, and implementing specialized training programs for banking cadres to ensure the provision of advanced financial services."

Sami added, "The strategic plan will include introducing modern banking technologies, such as electronic payment, enhancing transparency, improving capital management and completing the comprehensive banking system, in addition to cooperating with international financial institutions and benefiting from global expertise, in addition to setting specific time frames for implementing modernization processes, which will raise the efficiency of government banks and support the national economy."

The Prime Minister's Office announced yesterday, Tuesday, the launch of an initiative to reform the banking system, in cooperation with the Central Bank of Iraq, consisting of 4 main points, and it comes in partnership with the global management consulting company (Oliver Wyman). https://economy-news.net/content.php?id=52540

Dollar Prices In Iraq Fall: 151 Thousand "Per Paper"
Economy | 05/02/2025   Mawazine News – Baghdad  Mawazine News publishes today, Wednesday, the exchange rates of the dollar against the Iraqi dinar in local markets. - Selling 151,000 dinars for 100 dollars - Buying 149,000 dinars for 100 dollars. https://www.mawazin.net/Details.aspx?jimare=259379

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

Seeds of Wisdom RV and Economic Updates Thursday Morning 2-6-25

Good Morning Dinar Recaps,

CFTC’S PHAM SEEKS ‘COMMON-SENSE’ REGULATION OF PREDICTION MARKETS IN NEW ROUNDTABLE

▪️The CFTC will hold a public forum to discuss prediction markets, though it did not name any specific marketplace in its announcement.

▪️CFTC Acting Chair Pham said past years of anti-innovation policies have restricted “common-sense” regulations of prediction markets.

The Commodity Futures Trading Commission announced Wednesday that it will hold a public roundtable to examine prediction markets, where its acting chair Caroline D. Pham expressed the need for more clarity in regulating such platforms.

“Unfortunately, the undue delay and anti-innovation policies of the past several years have severely restricted the CFTC’s ability to pivot to common-sense regulation of prediction markets,” said CFTC Acting Chairman Caroline D. Pham.

Pham said prediction markets are an “important new frontier” that can bring truth to the information age by utilizing the power of markets.

“The current Commission interpretations regarding event contracts are a sinkhole of legal uncertainty and an inappropriate constraint on the new administration,” Pham said.

Last year, the commission requested a district court to review a previous ruling in Kalshi’s favor in an attempt to block U.S. election bets on the prediction market. The two have been in a legal dispute since 2023 over the offerings of event contracts linked to congressional matters.

Earlier this week, it was reported that the CFTC was questioning prediction market Kalshi and Singapore-based crypto exchange Crypto.com over whether their derivatives-based Super Bowl sports events contracts were compliant.

“CFTC must break with its past hostility to innovation and take a forward-looking approach to the possibilities of the future,” Pham stated.

The roundtable

The public roundtable is a necessary first step in establishing a comprehensive regulatory framework for prediction markets, Pham said, as the new framework aims to promote the platforms while protecting users from deceptive market practices.

The forum will tackle several key roadblocks in establishing the framework, including past CFTC decisions, court orders and enforcement actions, and interpretations of event contracts on prediction markets in general.

“Participants will include a wide variety of experts and stakeholders representing numerous and diverse interests in these issues,” the statement said.

However, the release did not mention names of prediction markets that would be discussed at the public roundtable.

The roundtable is scheduled to be held at the CFTC headquarters in Washington, D.C., with further details on the event yet to be announced.

@ Newshounds News™

Source:  The Block

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RIPPLE EXPANDS US WORKFORCE BY 75% AFTER ELECTIONS: IS THE SEC LAWSUIT ENDING SOON?

Ripple’s CLO, Stuart Alderoty, recently shared his thoughts on the new U.S. administration’s approach to cryptocurrency.  In an interview with CNBC, Alderoty expressed his satisfaction with the changes brought about by the new administration.

He explained that the previous administration had essentially waged a “war” on crypto, pushing the industry out of the U.S. in favor of restrictive policies. However, since the inauguration, Alderoty praised the new administration for embracing cryptocurrency and clearing obstacles that had been stifling innovation.

Ripple’s Onshore Hiring Surge Amid SEC Case

Alderoty revealed that Ripple, which has been based in the U.S. for over 12 years, is benefiting from these shifts. He said that following the election, 75% of Ripple’s hiring efforts, which were previously offshore, are now being brought back onshore in the U.S. 

The company is eager to build and expand its operations domestically, with the belief that the U.S. can once again become the global leader in cryptocurrency technology.

These changes come amid the ongoing SEC case, which has been dragging on for four years. The updates have left many wondering if the case might be coming to an end soon.

Ripple’s Response to U.S. Crypto Reform

When discussing U.S. crypto reform, Alderoty outlined three major forces shaping the landscape: President Trump’s executive order, changes in federal regulation, and legislative action from Congress. 

He stressed the importance of the executive order, which reaffirms the U.S.’s goal of becoming the “crypto capital of the world.” The order has sparked a series of positive regulatory developments, including the appointment of David Sachs as the “crypto czar,” who is leading a task force to review and update crypto regulations.

Additionally, Alderoty praised the actions of the SEC’s acting chair, Mark Uyeda, who recently acknowledged the regulatory confusion of the past few years. Alderoty is optimistic that these changes will make it easier for banks to engage with crypto, further positioning the U.S. as a favorable environment for crypto innovation.

@ Newshounds News™
Source:  Coinpedia

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RIPPLE’S RLUSD TOKEN SECURES MAJOR LISTINGS

The Ripple USD (RLUSD) stablecoin has secured several new listings, according to a Wednesday announcement.  

The much-hyped stablecoin is now available for trading on Revolut and Zero Hash. These recent additions are likely to result in substantially broader RLUSD adoption.

London-based fintech firm Revolut boasts more than 50 million customers across the globe. Last September, it was reported that the company planned to launch its own stablecoin. In November, it also obtained the approval to expand its services across the EU after securing a banking license in the UK.

Zero Hash is a prominent cryptocurrency infrastructure platform. With the addition of RLUSD, the platform now supports five stablecoins across various chains.

RLUSD is, of course, available on both Ethereum and the XRP Ledger, and the stablecoin is expected to add more platforms in the future.  The Zero Hash integration is significant for the RLUSD since it means that Ripple's stablecoin is now part of the stablecoin engine that is powering various fintech firms in the realm of payments (remittances, payouts, AI agents) and trading.

Zero Hash CEO Edward Woodford says that the listing of Ripple's RLUSD token shows that the company is committed to offering its customers the most "innovative and regulated" stablecoin products.  

As reported by U.Today, the Ripple stablecoin recently surpassed $100 million in market capitalization.  

The token was also recently listed on Bitstamp, one of the oldest cryptocurrency exchanges.  

According to CoinGecko, the market cap of RLUSD currently stands at $108 million.

@ Newshounds News™
Source:  U Today

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“Tidbits From TNT” Thursday Morning 2-6-2025

TNT:

Tishwash:  Al-Sudani, Russian envoy discuss bilateral cooperation and stability

Iraq’s Prime Minister Mohammed Shia Al-Sudani met Wednesday with Mikhail Bogdanov, Russian President Vladimir Putin’s special representative to the Middle East and North Africa, to discuss bilateral relations and ways to enhance cooperation across multiple sectors, according to a statement from Al-Sudani’s media office.

The discussions also addressed regional and international developments, focusing on “efforts aimed at strengthening stability in the region.” The prime minister reaffirmed Iraq’s commitment to “fostering stronger ties between Iraq and Russia.”

The meeting follows earlier talks in Baghdad between Iraqi Speaker of Parliament Mahmoud Al-Mashhadani and a Russian delegation led by Bogdanov,

Statement from PM Al-Sudani’s media office:

Prime Minister Mohammed S. Al-Sudani met today, Wednesday, the Special Envoy of the President of the Russian Federation to the Middle East and North Africa, Mr. Mikhail Bogdanov. The meeting focused on bilateral relations between Iraq and Russia and explored ways to enhance cooperation across various fields.

The discussions also covered regional and international developments and efforts aimed at strengthening stability in the region. Prime Minister Al-Sudani expressed his initial approval to participate in the upcoming Arab-Russian Summit to be hosted by the Russian Federation, recognizing its importance in advancing mutual interests.

The Prime Minister reiterated the government’s commitment to fostering stronger ties between Iraq and Russia and expanding avenues of cooperation in multiple sectors. He also emphasized the need to enhance collaboration on the Development Road project and Russian initiatives concerning transit routes to ensure shared benefits and the growth of common interests.

For his part, Mr. Bogdanov conveyed the greetings of Russian President Vladimir Putin to Prime Minister Al-Sudani and reaffirmed his government’s keenness to activate bilateral memoranda of understanding. He also confirmed Russia’s readiness for the upcoming tenth meeting of the Iraqi-Russian Joint Committee, which will oversee the implementation of agreements and memoranda of understanding between the two nations.

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Tishwash:  Participants to Al-Sabah: Baghdad International Fair is a golden opportunity for economic cooperation

Participants in the Baghdad International Fair considered it a “golden opportunity” that could be a supportive starting point for the sustainable development process that the country is witnessing.

The 48th edition of the exhibition this year is witnessing a wide turnout from citizens, investors and businessmen, due to the quality of companies and products displayed locally and internationally.

Industrial investments

The official of the Ministry of Industry wing, Mohammed Qasim, told Al-Sabah: “Iraq is heading towards localizing its national industry, as well as bringing in global industries through investment within the country,” noting that “this matter requires the creation of an ideal work environment that is in harmony with the requirements of industrial investment and actually contributes to turning the wheel of industrial production.”

Industrial cities

Qasim stressed that “industrial cities are considered a trend that can contribute to localizing industry in Iraq, as these cities will provide all the requirements of the Iraqi and foreign industrialist, especially since the path of development has recalculated the calculations of many companies that can transfer their industries to Iraq and launch from it to various markets of the world.”

He pointed out that "the exhibition is an important opportunity to communicate with Arab and foreign participants who came with a real desire to be present in local markets, especially since Iraq has become the focus of attention of major international companies."

Golden opportunity

Baghdad Chamber of Commerce Advisor Wahbi Al-Khafaf told Al-Sabah: “The Chamber views the exhibition as a golden opportunity that can be used to serve the Iraqi economy, which needs combined local and international efforts to move its wheel.”

Available opportunities

Al-Khafaf pointed out that “the companies present at the exhibition have a great desire to work inside Iraq, which is considered a “promising market” that can benefit those who work inside it and invest in the available opportunities in all production and service sectors.”

 He also pointed out that “the companies that have come with new goods know that the Iraqi market is large and can accommodate regional and international presence, and some are thinking of localizing their industry within the country.”

More space

As for the representative of the Iraqi Iron Company, he explained to “Al-Sabah”, “The exhibition gave the company a larger space to communicate with the companies participating in the exhibition, especially construction and reconstruction companies and contracting companies that implement major projects that require huge quantities of iron to create concrete blocks.”

He stressed that "the national product is manufactured according to international specifications and competes with the best of its global counterparts." 

Local companies

He pointed out that “the exhibition represents an important opportunity, as it saved us a lot of effort and time in reaching this number of local and international companies.”

He pointed out that “the citizen provided an opportunity to communicate with citizens who learned about the nature of the company’s products, selling prices, and product efficiency, as the exhibition is a free opportunity for dissemination.”

Renew participation

A representative of the Pakistani company GFC, which specializes in electrical appliances, confirmed to Al-Sabah that the exhibition is important.

He pointed out that “the Iraqi citizen’s interest in the pavilion created a desire to renew participation in all exhibitions organized inside Iraq, especially since the Iraqi market is vast, and we can be present in all cities.”

Second package

In turn, the representative of the Ministry of Construction and Housing, Aram Majeed, told Al-Sabah, “The presence of the ministry’s team inside the Baghdad International Fair comes to reflect the ministry’s achievements during the past year, the projects that have been implemented and those under implementation, and the projects of the second package that will be launched soon, and includes a number of important projects, including the bridge that connects the Kadhimiya area with the Al-Krayat area.”

Economic cooperation

As for the financial affairs specialist, Athir Abdul Baqi, he said about the exhibition: “The banking sector is an important axis for any economic cooperation between Iraq and the countries of the world, and through our movement inside the exhibition, we noticed the presence of international companies inside the banks’ pavilions and inquired about the nature of the products offered, and how the money movement is going.”

Development plans

He pointed out to “Al-Sabah” that “most delegations stop at the issue or the joint of the development plans for the performance of the banking system, and where it stands among the services provided regionally and internationally, as companies look forward to entering into various businesses within Iraq and studying the reality of the financial sector and the services provided by the banking system.”

(1250) companies of various specializations representing 22 Arab and foreign countries are participating in the 48th session of the Baghdad International Fair.

Economic growth

Economic expert Aqil Al-Hamad told Al-Sabah: “Trade fairs generally represent a facade that indicates the extent of the country’s economic and urban growth.”

He added, "The Baghdad Exhibition is important for international companies, especially since the volume of turnout is large from foreign investors, and it has become a real proof of Iraq's economic importance."

Industrial reality

He explained that “exhibitions work to create solid partnerships between the private sector and foreign companies, and this in itself is an important factor that can improve the nature of the industrial and development reality, in addition to its role in providing many job opportunities and meeting the market’s needs for solid local products. In order to achieve the maximum possible degree of benefit, government agencies must hold more meetings with Iraqi economic organizations to learn about the nature of the exhibitions that should be held.”

Meanwhile, the Ministry of Trade stated that “its formations participated in the 48th session of the Baghdad International Fair, with special pavilions within the framework of enhancing economic cooperation and cultural exchange.

She explained in a statement received by “Al-Sabah” that “the companies’ participation came to highlight their activities and announce and promote their investment projects, which reflect the government’s commitment to enhancing sustainable development and supporting innovation in various fields.”

She pointed out that “the exhibition is an ideal platform for communication between companies and investors, and reflects Iraq’s ability to host major international events that enhance its economic position in the region, as it included a wide range of local and international companies displaying their latest products and services,” indicating that “the pavilions of the ministry’s formations witnessed a great turnout from visitors, and a comprehensive presentation was given on the projects and programs implemented by the ministry’s companies in various sectors.”

The Ministry also invited visitors, whether officials, business owners or citizens, to visit its companies’ pavilions and learn about future projects and initiatives aimed at strengthening the national economy. link

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Tishwash:  Sami meets with Ernst & Young to restructure banks: Strategy includes electronic payment

Finance Minister Taif Sami said on Wednesday, February 5, 2025, that the strategic plan to restructure banks includes introducing “modern technologies” such as electronic payment.

Meeting to follow up on the restructuring procedures of Rafidain and Rashid Banks and insurance companies 

According to a statement seen by "Ultra Iraq", Finance Minister Taif Sami held "an expanded meeting with the head of the Insurance Bureau, directors of government banks and insurance companies, and the international auditing and oversight company (Ernst & Young) to follow up on the measures taken to implement the restructuring of insurance companies and government banks, most notably Rafidain and Rashid Banks."

Sami pointed out that "the restructuring represents a fundamental step to enhance financial stability and improve the efficiency of government banks in accordance with international standards," stressing "the importance of developing banking systems, enhancing internal control, and implementing specialized training programs for banking cadres to ensure the provision of advanced financial services."

The Minister explained that "the strategic plan will include introducing modern banking technologies, such as electronic payment, enhancing transparency, improving capital management and completing the comprehensive banking system, in addition to cooperating with international financial institutions and benefiting from global expertise, in addition to setting specific time frames for implementing modernization operations, which will raise the efficiency of government banks and support the national economy." link

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Mot: The insight - ole ""Mot"" Brings Ya - is Simply AMAZING!! – LOL

.Mot: .. Ya Know!! -- Just Saying ~~~~

MilitiaMan & Crew Iraq Dinar News-Commitment Judicial Decisions-Central Bank of Iraq-French Ambassador-Paris Club

MilitiaMan & Crew Iraq Dinar News-Commitment Judicial Decisions-Central Bank of Iraq-French Ambassador-Paris Club

2-5-2025

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=u5WHzyLUMJ8

Iraq Economic News and Points to Ponder Wednesday Evening 2-5-25

Finance Launches Bonds Worth Two Trillion Dinars To Boost Investment And Provide Savings

Money and business  Economy News – Baghdad  The Ministry of Finance announced today, Wednesday, the launch of national bonds (first issue) for public subscription, with a total value of two trillion Iraqi dinars, for the period from February 10 to March 10, 2025.

The ministry said in a statement that the issuance of these bonds comes "as part of its plan to enhance local investment and provide savings tools for citizens and investors."

According to the statement, the bonds are divided into two categories: The first bond is worth 500,000 dinars with an annual interest of 6%, and is due after two years, with interest paid every six months. The second bond is worth 1,000,000 dinars with an annual interest of 7.5%, and is due after four years, with interest paid every six months.

The statement indicated that the bonds are tradable on the Iraqi Stock Exchange, which provides a distinct investment opportunity for citizens and companies looking for stable financial instruments.

The bond offering comes based on Article 77 of the Federal General Budget Law No. (13) for the years 2023, 2024, and 2025, with the aim of supporting the national economy and enhancing confidence in the Iraqi financial system, according to the Finance Ministry statement. https://economy-news.net/content.php?id=52539

Parliamentary Finance Committee Discusses With US Delegation The File Of Contracts Of Foreign Oil Companies Operating In Kurdistan

Energy  Economy News – Baghdad  On Wednesday, the Finance Committee of the House of Representatives discussed with an American delegation the file of contracts of foreign oil companies operating in the Kurdistan Region of Iraq.

The media office of the head of the committee said in a statement, seen by "Al-Eqtisad News", that "the head of the Finance Committee, Atwan Al-Atwani, received a delegation from the US Embassy headed by Julie Jones, the economic advisor to the embassy, ​​and Chris Torres, advisor to the Iraqi Council of Representatives file in the political department."

The statement added that "the meeting discussed the details of amending Article 12 of the Federal General Budget Law related to oil production and export, in addition to the financial challenges facing the country and preparations for preparing and approving the 2025 budget schedules."

He continued, "The meeting discussed the file of contracts of foreign oil companies operating in the region, and some details related to oil production and export, within the framework of amending the general budget law that the Council of Representatives recently voted on, as a first step to resolve the oil disputes between Baghdad and Erbil and in line with the Iraqi constitution."

Al-Atwani stressed, according to the statement, "the necessity for the region to commit to paying its financial dues to the central government in exchange for receiving its entitlements, including employee salaries and project financing, to end financial disputes," renewing the Finance Committee's keenness to "end all disputes and stop oil smuggling; due to its negative impact on the country's financial stability."

The statement explained that "the meeting witnessed a discussion of the timing of approving the budget schedules for the year 2025; with the aim of launching projects according to the specified timetable, with an emphasis on increasing non-oil revenues, reducing spending on non-essential projects, investing in service and educational projects, and supporting the private sector." https://economy-news.net/content.php?id=52551

IEA: Iraq Has 600,000 Barrels Of Oil Surplus Per Day

Energy   Economy News – Baghdad  The International Energy Agency revealed, on Wednesday, that Iraq has surplus capacity estimated at 600,000 barrels per day.

The agency stated, in a report reviewed by "Al-Eqtisad News", that "the total spare capacity of OPEC amounts to about 5.3 million barrels per day, including 3.1 million barrels per day in the Kingdom of Saudi Arabia, 1.1 million barrels per day in the United Arab Emirates, 600 thousand barrels per day in Iraq, and 400 thousand barrels per day in Kuwait."

The report added, "This total surplus is equivalent to about 5.1% of global oil demand, which the International Energy Agency expects to average about 104 million barrels per day in 2025."

A few days ago, OPEC+, which includes OPEC, Russia and their allies, made production cuts, reducing output by about 6 million barrels per day in a series of steps since 2022 to support the market. OPEC has reserves of oil called idle production that can be used in times of war or natural disasters.
https://economy-news.net/content.php?id=52533

Oil Prices Stabilize During Early Wednesday Trading

Economy | 05/02/2025   Mawazine News – Baghdad    Oil prices steadied in early trade on Wednesday after volatile trading in the previous session as investors shrugged off the impact of Chinese tariffs on U.S. energy imports, although President Donald Trump's renewed push to crack down on Iranian crude exports provided some support.

Markets move Brent crude futures were down 18 cents, or 0.24 percent, at $76.02 a barrel by 0210 GMT. US West Texas Intermediate crude lost 9 cents, or 0.12 percent, to $72.61, according to Reuters data.

WTI at one point fell 3 percent on Monday, its lowest since Dec. 31, after China announced tariffs on US imports of oil, liquefied natural gas and coal in retaliation for US tariffs on Chinese exports.

But prices rebounded after Trump reimposed his first-term “maximum pressure” campaign on Iran to curb its nuclear program, which has reduced Iranian crude exports to zero.

Analysts at Goldman Sachs said in a note on Tuesday that the impact of China’s retaliatory tariffs on energy prices would be limited “given that global supply and demand for these commodities will not be impacted by the Chinese tariffs.”

They added that both countries would be able to find alternative markets. Prices were also pressured by rising crude and fuel inventories in the United States, the world’s biggest oil consumer.

The American Petroleum Institute showed crude inventories rose by 5.03 million barrels in the week to Feb. 1. Ending January 31. It reported that gasoline stocks increased by 5.43 million barrels, and distillate stocks decreased by 6.98 million barrels. The official US government oil inventory data is scheduled to be issued on Wednesday evening.   https://www.mawazin.net/Details.aspx?jimare=259375

BP Intends To Invest In The Oil Sector In Iraq

Economy |  05/02/2025   Mawazine News – Baghdad  Reuters quoted a senior Iraqi oil official as saying that oil giant BP is expected to spend up to $25 billion over the life of a project to redevelop four oil fields in Kirkuk at a time when Baghdad is seeking to regain foreign investment.

If the deal is signed, a move the official expects to happen in the coming weeks, it would mark a major achievement for Iraq after years of production constrained by war. Iraq is OPEC’s second-largest oil producer after Saudi Arabia, with an average output of more than 4 million barrels per day.

BP will invest $20 billion to $25 billion under a profit-sharing agreement that will last for more than 25 years, the official said.

BP declined to comment on the Reuters report, but pointed to a statement last month saying BP and the Iraqi government had made significant progress toward reaching an agreement to support the operator of several Kirkuk oilfields in an integrated redevelopment project.

The potential BP deal would be the second major deal between Iraq and an international oil company in two years, following a deal in Basra with Total Energies, which was valued at around $27 billion.

BP’s deal would focus on rehabilitating facilities at four oilfields and developing natural gas to support Iraq’s domestic energy needs. The official said technical and economic negotiations were ongoing.

The deal is well underway, and final contracts could be signed in the first half of February, possibly by the end of this week.

The official said the deal would allow BP to increase crude oil production capacity from the four Kirkuk fields by 150,000 barrels per day, bringing total capacity to at least 450,000 barrels per day in two to three years. Current production is 300,000 barrels per day, according to three officials from the state-run National Oil Company. A profit-sharing model is under discussion that would allow BP to recover costs and start making a profit once production increases from current levels, the oil official said.

 BP has a 50 percent stake in a joint venture that operates the giant Rumaila oil field in the south of the country, where it has been operating for a century.   https://www.mawazin.net/Details.aspx?jimare=259381

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

Seeds of Wisdom RV and Economic Updates Wednesday Evening 2-5-25

Good Evening Dinar Recaps,

FDIC RELEASES DOCUMENTS RELATED TO CRYPTO DEBANKING

The Federal Deposit Insurance Corporation has released more than 100 documents related to the highly criticized and controversial “debanking” of crypto companies and individuals.

In a press release on Feb. 5, the FDIC stated that the 175 documents pertain to the agency’s supervision of banks that “engaged in, or sought to engage in, crypto-related activities.”

The report was released on the same day the U.S. Senate Banking Committee began its hearing on the impact of debanking in the country. It also follows a court order that set the deadline for their release as Friday, Feb. 7.

Crypto debanking, often referred to as Chokepoint 2.0, has been a contentious issue in recent months, with the FDIC and the U.S. Securities and Exchange Commission facing criticism from various industry stakeholders.

FDIC acting chairman Travis Hill commented:

“I have been critical in the past of the FDIC’s approach to crypto assets and blockchain. As I said last March, the FDIC’s approach ‘has contributed to a general perception that the agency was closed for business if institutions are interested in anything related to blockchain or distributed ledger technology.”

The released documents include correspondence with 24 financial institutions regarding their involvement or interest in crypto-related activities.

The records reveal that the FDIC largely resisted engagement, frequently requesting additional information, delaying responses for months, and issuing directives instructing banks to pause, suspend, or entirely avoid crypto-related activities.

The crypto debanking hearings will no doubt reveal a lot more, but commentary from notable industry advocates commend the FDIC’s decision to release the documents. It includes Senator Cynthia Lummis, who observed via a post on X:

“I am thrilled the FDIC acted swiftly & efficiently to release these documents. I want to thank Chairman Hill and POTUS for your commitment to government transparency! We are putting an END to Chokepoint 2.0.”

FDIC acting chair Hill has stated that the agency is reevaluating its approach. Key measures moving forward include replacing its Financial Institution Letter (FIL) 16-2022and creating a clearer framework for banks to participate in the crypto sector. The FDIC will also collaborate with President Trump’s working group on digital assets to establish new guidelines.

@ Newshounds News™

Source:  CryptoNews

Also read:  https://coinpedia.org/news/fdic-set-to-revise-guidelines-allowing-banks-to-engage-in-crypto-activities/

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HOW TRUMP'S TRADE WAR IS AFFECTING BITCOIN AND GOLD

Gold and Bitcoin have previously moved together as "safe haven" assets. But that isn't the case with President Donald Trump back in action.

Bitcoin or gold?  Or Bitcoin and gold? Investors are weighing where to put their money in times of uncertainty—and no time is more uncertain than now.

President Donald Trump’s tariffs—or threats of tariffs—have rocked markets, making “risk-on” assets like crypto less appealing.

The price of gold hit a new high Monday, while Bitcoin dropped below $93,000, down about 14% from its all-time high price set on January 20. Bitcoin's correlation to the precious metal is down significantly as investors flock to more traditional safe haven assets, experts told Decrypt.

Bitcoin proponents have long claimed that the cryptocurrency’s unique selling point is that it’s a long-term store of value—like gold. And sometimes, they are correlated: The two assets have moved in tandem in the past, when investors have flocked to a strong dollar.

But things are up in the air now that President Donald Trump has taken office and issued a flurry of dramatic orders, and Bitcoin’s 90-day correlation with gold has remained close to zero, data provider Kaiko told Decrypt.

Case in point: The new commander in chief implemented tariffs against Canada, Mexico, and China on Saturday, causing crypto prices to drop sharply.

After having a “friendly conversation” with Mexican President Claudia Sheinbaum two days later, he decided to pause tariffs—leading to a rebound in Bitcoin’s price. Meanwhile, gold soared. Trump later agreed to a similar pause with Canada as the two countries attempt to work out a deal, while tariffs against China ultimately did go into effect.

“The trade war could decouple the correlation in the short term as gold is a more established ‘safe haven’ asset, while Bitcoin—although often seen as a safe haven—is currently owned by a large investor base also trading highly speculative risk-asset meme coins and tech stocks,” Amberdata’s director of derivatives Greg Magadini told Decrypt.

The reason for the decoupling is that Bitcoin is still performing less like a safe-haven and more like risk assets, such as tech stocks. The biggest cryptocurrency by market cap over the past seven days alone has swung from $105,893 per coin to as low as $92,876.

@ Newshounds News™

Source:  Decrypt

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🥇🥇GOLD TELEGRAPH BREAKING NEWS🥇🥇

WORLD'S DEMAND FOR GOLD HIT ANOTHER RECORD HIGH LAST YEAR

Read: X . Com

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THE ANNUALIZED RATE FOR LENDING GOLD  over a one-week period has increased to around 10% this year, up from the previous range of 2-3%.

People are definitely sweating.

Read: X . Com

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VERY STRANGE THINGS HAPPENING AT THE BANK OF ENGLAND.

They hold over $450 billion worth of gold at current prices, primarily for central banks.

There are weeks long queues to withdraw bullion from its vault and its now trading at a DISCOUNT vs. wider markets.
Massive moment...

Read:  X . Com

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BILLIONAIRE PIERRE LASSONDE MESSAGE:

Billionaire Pierre Lassonde told me late last year that the day transactions on the Shanghai Gold Exchange surpass those on the COMEX, gold pricing will shift to the East, leaving the West behind.
Right now, the LBMA says it’s working with COMEX on U.S. gold price premium...

Watch: X . Com

@ Newshounds News™

Source:  Cold Telegraph

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SEC’S CRYPTO TASK FORCE WEBSITE LAUNCHES: HESTER PEIRCE SHARES VISION FOR DIGITAL ASSET REGULATION

The US Securities and Exchange Commission (SEC) has officially unveiled its new Crypto Task Force, marking a pivotal shift in its regulatory approach to the digital asset sector.

This initiative, led by Commissioner Hester Peirce, promises a more engaging and less perilous journey for both the SEC and the crypto industry compared to the tumultuous path the agency has navigated over the past decade.

Peirce articulated the need for a clear destination in the regulatory landscape, acknowledging the previous lack of clarity and the enforcement hesitancy that characterized the SEC’s earlier interactions with cryptocurrency.

New SEC Task Force To Foster Collaboration In Crypto Regulation

In her announcement, Peirce emphasized that the SEC’s past approach was fraught with “legal ambiguities” and “commercial impracticalities,” leaving many market participants in a state of uncertainty.

She highlighted that the Task Force aims to address these issues collaboratively, involving input from various stakeholders, including builders, enthusiasts, and skeptics within the crypto community.

By fostering open dialogue, the SEC seeks to develop a regulatory framework that balances investor protection with the industry’s ability to innovate and thrive.

Peirce was candid about the challenges ahead, acknowledging that untangling the complexities of cryptocurrency regulation will take considerable time and effort.

The SEC has been engaging with the crypto industry for over a decade, with its first Bitcoin exchange-traded product application arriving in 2013. Since then, the agency has faced numerous enforcement actions and made various attempts to clarify regulatory expectations, yet many issues remain unresolved.

Public Engagement In Shaping Digital Asset Regulation

The Task Force’s efforts will include examining the status of different crypto assets under existing securities laws, addressing the regulatory needs of coin and token offerings, and exploring how crypto lending and staking programs fit within the legal framework.

The Task Force also aims to enhance the process for exemptive relief applications and streamline paths to registration for token offerings, while ensuring that the necessary investor protections remain intact.

Peirce explicitly stated that the SEC does not endorse any specific cryptocurrency or token, reinforcing the idea that market participants must make informed decisions without relying on government approval.

Furthermore, the Task Force plans to collaborate with other regulatory bodies and state authorities to create a comprehensive understanding of crypto’s regulatory landscape.

This cooperation is essential for crafting policies that not only protect investors but also provide a safe environment for innovation. The SEC is keen on ensuring that the US capital markets remain robust and efficient, free from fraud and misconduct.

Peirce’s statement also invited public engagement, encouraging individuals and organizations to contribute their insights and suggestions regarding the regulatory framework for cryptocurrencies.

Interested parties can provide written submissions or request meetings with Task Force members to discuss pertinent issues. This open approach reflects the SEC’s commitment to transparency and inclusivity in its regulatory process.

@ Newshounds News™

Source: Bitcoinist

Read more:  Bitcoinist

~~~~~~~~~

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Some “Iraq News” Posted by Clare at KTFA 2-5-2025

KTFA:

Clare:  Prime Minister Approves New Date for Iraq Investment Forum

2/3/2025  Baghdad – 

Prime Minister Mohammed Shia Al-Sudani has approved a new date for the Iraq Investment Forum, scheduled to take place from April 12-13, 2025.
 
According to a letter from the Prime Minister's office, received by The Iraq News Agency-INA , "The Prime Minister's approval has been granted to hold the Iraq Investment Forum on April 12-13, 2025, for the necessary arrangements in light of the Prime Minister's approval."  LINK

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Clare: Iraq is heading to implement the first historical transfer operation through the international (TIR) system

2/5/2025  Baghdad-

The International Road Transport Union (IRU) announced during its visit last week that Iraq is heading towards implementing the first historic transport operation through the international road transport system (TIR).

The union stated in a statement, followed by the Iraqi News Agency (INA), that "a delegation from the International Road Transport Union (IRU) visited Iraq last week to lay the foundation for the first cross-border transport movement in the country within the international road transport system (TIR).

It explained that "Iraq is close to achieving a historic achievement in cross-border trade, as the first transport operation under the umbrella of the international road transport system is expected to take place soon, as this event represents a turning point for the country and a major step towards full integration into the recognized international system for customs transit."

It added that "during the past week, the International Road Transport Union (IRU) held key discussions with stakeholders in the public and private sectors, reinforcing Iraq's commitment to modernizing the trade sector and adopting international best practices."

It pointed out that "a specialized workshop was organized during the visit, focusing on the importance of international agreements of the United Nations, such as the TIR Convention and the European Convention on the International Carriage of Dangerous Goods by Road. Experts highlighted the vital role of these agreements in simplifying cross-border trade, enhancing trade security, and reducing road accidents. Discussions also addressed the importance of professional excellence in the land transport sector and developing strong regulatory frameworks to support it."

The statement continued that "cooperation between the public and private sectors was one of the main themes of the meetings, as its essential role in achieving these goals was emphasized," noting that "effective coordination between government authorities and the private sector is a crucial factor in ensuring the smooth implementation of the TIR Convention and the European Convention on the International Carriage of Dangerous Goods by Road, which enhances Iraq's position in regional and global trade."

It concluded that "as Iraq prepares for this achievement, it stands on the threshold of a new era in the field of transport and international trade, as it adopts global best practices to enhance efficiency, security, and economic growth."  LINK

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Clare: Confirming Shafaq News news.. Al-Sudani calls on the State Administration Coalition to hold a meeting in Baghdad

2/5/2025

Prime Minister Mohammed Shia al-Sudani called on Wednesday for members of the State Administration Coalition to hold a meeting at the government palace next Saturday, February 8, 2025.

A statement issued by Al-Sudani's office explained that the latter's call for holding the meeting aims to "discuss the general situation in the country and examine a number of files at the national level."

The State Administration Coalition called for an emergency meeting next Saturday at the government palace in the capital, Baghdad, to discuss a group of "important" issues.

An informed source told Shafaq News Agency that the most important of these issues is the recent escalation against the Federal Court after it issued the federal order to stop the implementation of the three controversial laws.

The Iraqi political arena has witnessed rapid development since yesterday, Tuesday, after the Federal Court issued a judicial order to stop the implementation of the general amnesty laws, amend the Personal Status Law, and return the properties to their owners in Kirkuk.

This decision prompted the Sunni forces to escalate their stance against the court, as official work was suspended in three Sunni provinces in protest against the decision, amid hints of other escalatory steps such as withdrawing from parliament and the government, and organizing protest demonstrations, the beginnings of which began in the city of Mosul today.

In contrast, the Coordination Framework announced its support for the court’s procedures, stressing its constitutional right to monitor the laws.

It is noteworthy that this decision came after a number of representatives filed an appeal regarding the parliament’s collective voting on the laws, while observers are awaiting a final decision from the court in the coming weeks.

Earlier today, the Iraqi Supreme Judicial Council issued a fatwa that it is not permissible to suspend the implementation of laws enacted by the House of Representatives before they are published in the Official Gazette, while it considered that the law amending the Personal Status Law and returning properties to their owners requires delaying the issuance of any decision related to them. It stressed that the courts in the country are obligated to implement the general amnesty law.

The "State Administration" coalition includes the Shiite parties (the Coordination Framework), the Sunni blocs (the Progress and Sovereignty Alliance), and the Kurdish parties (the Kurdistan Democratic Party, the Patriotic Union of Kurdistan), and since its formation it has aimed to support a consensus government to ensure the stability of the political process and implement agreements between the political blocs.  LINK

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Clare:  The Ministry of Commerce directed to expedite the completion of financial statements for budgets of previous years.

2/5/2025  Baghdad /

 Minister of Trade Athir Dawood Al-Ghariri directed, today, Wednesday, the financial and budget departments to complete the financial data for the budgets of previous years and send them to the Financial Supervision Bureau for the purpose of approval and submission of comments, no later than the tenth of next May.

The ministry said in a statement that "Al-Ghariri stressed during an expanded meeting held in the presence of the general administrations of the grain trading and manufacturing companies, the administrations of the relevant departments, and a number of assistants to the general managers, the need to assume responsibility for preserving public money.

He pointed out that the approval of these budgets is an achievement that contributes to the return of entitlements as revenues to the general budget, in addition to limiting the companies' shares of their profits and the ministry's revenues.

The minister confirmed that the ministry has achieved a remarkable achievement by obtaining second place among government agencies in the file of combating corruption and integrity with a rate of 99.35%, which was not achieved in previous years, pointing to the adoption of the principle of reward and punishment in evaluating performance and not being lenient with the lazy who do not adhere to performance and implementation plans.   LINK

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Clare:  Trump Restores Tough Line on Iran—Includes Watch on Iraqi Banks, Gulf States Transshipment of Prohibited Goods

NSPM-2 directs the Secretary of State to “take immediate steps” to ensure Iran does not use Iraqi banks to evade sanctions or Gulf ports to transship prohibited goods.

WASHINGTON DC, United States (Kurdistan24) On Tuesday, U.S. President Donald Trump revived the tough line toward Iran that he pursued during his first term in office.This was laid out most clearly in two documents released by the White House: “National Security Presidential Memorandum/NSPM-2” and “Fact Sheet: President Donald J. Trump Restores Maximum Pressure on Iran.”NSPM-2 is addressed to 17 senior officials at 16 U.S. government agencies, including the State Department.

It contains four directions to the Secretary of State. One aims to prevent Iran from using the facilities of regional states to circumvent the renewed U.S. sanctions.

That direction has two parts. One part is to maintain a watchful eye on Iraq’s banking system, which Iran has used in the past to evade sanctions. The second part is to prevent Gulf countries from acting as transshipment routes for Iran’s import of prohibited goods.

Thus, NSPM-2 directs the Secretary of State to “take immediate steps in coordination with the Secretary of the Treasury and other relevant agencies to ensure that the Iraqi financial system is not utilized by Iran for sanctions evasion or circumvention and that Gulf countries are not used as sanctions evasion transshipment points.”

Iran as Major State Sponsor of Terrorism

The view of Iran, as expressed in NSPM-2, is the reverse of that held by the Biden administration, when it took office in January 2021. It believed then that U.S. pressure on Iran, which had been Trump’s policy, was a major source of regional instability. So, it adopted an accommodating position toward Tehran.

But that policy failed. There was no reduction in tensions, rather they increased, particularly after Hamas’s brutal Oct. 7, 2023, cross-border assault into Israel.

Eventually the Biden administration came around to the view that Iran was, indeed, an aggressive power. It posed a threat to the region and had to be contained, as President Joe Biden told Congress in his March 2024 State of the Union speech.  LINK

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

Good Afternoon Dinar Recaps,

JUST IN: FDIC TO ALLOW BANKS TO MANAGE CRYPTO ASSETS AND TOKEN DEPOSITS

FDIC to let U.S. banks manage crypto assets, offer tokenized deposits without prior approval, marking a policy shift under the Trump administration.

The Federal Deposit Insurance Corporation (FDIC) is set to revise its guidelines, allowing U.S. banks to manage crypto assets and offer tokenized deposits without prior regulatory approval. This decision marks a shift in U.S. banking policy under the Trump administration, which has shown increased support for digital assets.

Acting FDIC Chairman Travis Hill confirmed the changes during a Senate hearing, stating that the agency is reassessing its past approach to cryptocurrency regulations.

FDIC to Change Crypto Regulations for Banks

The FDIC’s decision to revise its crypto guidelines is part of an ongoing review of past regulatory policies that discouraged banks from engaging with crypto assets. Hill stated that banks seeking to enter the sector had faced delays, excessive scrutiny, and resistance from regulators.

During his testimony, Hill explained, “Requests from these banks were almost universally met with resistance, ranging from repeated requests for further information to directives from supervisors to refrain from expanding crypto- or blockchain-related activity.”

The FDIC has also released a series of internal documents detailing past communications with banks regarding cryptocurrency. These records were disclosed as part of a court order in response to a lawsuit by Coinbase, which had sought transparency on regulatory actions affecting the industry.

@ Newshounds News™

Source:  CoinGape

~~~~~~~~~

RIPPLE-CARDANO PARTNERSHIP COMING NEXT MONTH? (CHARLES HOSKINSON WEIGHS IN)

“We talk to David Schwartz and Brad Garlinghouse,” Cardano’s founder said.

▪️Hoskinson confirmed active discussions with Ripple’s leadership on RLUSD integration, with potential big news in March.

▪️Ripple’s stablecoin crossed $100M market cap, with major exchanges like Bitstamp embracing it.

One Step Closer?

The interactions between Cardano’s founder, Charles Hoskinson, and some of Ripple’s executives in the past months have caused some members of the crypto community to speculate about a potential collaboration between the two ecosystems.

In November last year, the bosses exchanged kind words, while Brad Garlinghouse (Ripple’s CEO) said, “Now is the time for the crypto community to come together, push for a level playing field and clear rules of the road.”

Earlier this year, Hoskinson took part in a heated discussion on X in which he hinted that Cardano might integrate Ripple’s stablecoin – RLUSD – into its system. “We’ve already had a call with the RLUSD people. We are actively talking,” he stated at the time.

The chances of a partnership have seemingly gone up, considering Hoskinson’s most recent disclosure. He said Cardano’s team keeps an active conversation with Ripple’s leadership regarding the implementation of RLUSD. Hoskinson also indicated that big news might be announced next month:

“We talk to David Schwartz and Brad Garlinghouse. Strong possibility we can negotiate (RLUSD). Ripple told us to wait till March as they just finished NYDFS. We’ll see if there’s a roadmap and how they’ll get that done.”

A potential partnership between Cardano and Ripple (two of the most recognizable entities in the crypto world) may positively impact the prices of their native tokens. As of writing these lines, ADA and XRP are both in the red weekly following the severe market correction witnessed on February 3.

RLUSD’s Advancement

Ripple made the headlines in April 2024, revealing its plans to design a stablecoin pegged 1:1 to the American dollar. The product passed through a testing phase in the following months before being officially approved by the New York Department of Financial Services (NYDFS) in mid-December.

At first, it received support from the cryptocurrency exchanges Uphold, Bitstamp, Bitso, Moonpay, CoinMENA, and Bullish.

Monica Long (Ripple’s president) said at the beginning of January that people should expect such a move from other popular platforms “imminently.” Shortly after, Bitstamp hopped on the bandwagon, listing the following trading pairs: RLUSD/EUR, RLUSD/USD, RLUSD/USDT, RLUSD/BTC, RLUSD/ETH, and RLUSD/XRP.

Despite being far away from the leaders Tether (USDT) and USD Coin (USDC), RLUSD recently hit an important milestone: its market capitalization crossed $100 million. It will be interesting to see whether the product will keep progressing throughout 2025 and whether it will erase the big gap between itself and the leaders in its field.

@ Newshounds News™

Source:  CryptoPotato

~~~~~~~~~

SEC SUED BY WATCHDOG GROUP OVER WITHHELD CRYPTO REPORT

Empower Oversight has filed a lawsuit against the U.S. Securities and Exchange Commission for failing to disclose a long-awaited report on ethical conflicts and selective enforcement within the agency.

The SEC Office of Inspector General completed the report more than a year ago, but the agency has yet to release it despite repeated Freedom of Information Act requests, according to the lawsuit.

The lawsuit seeks to compel the SEC to disclose findings related to former SEC Division of Corporate Finance Director William Hinman.

The investigation focuses on potential conflicts of interest involving Hinman’s ties to his previous law firm, Simpson Thacher, which had financial interests in promoting Ethereum.

SEC’s ‘silent treatment’

Empower Oversight has pursued SEC transparency since August 2021, filing multiple FOIA requests and lawsuits seeking documents related to agency communications with crypto entities. The watchdog argues that the SEC’s delays suggest a pattern of avoiding accountability in its enforcement actions.

“The SEC’s silent treatment is old and tired, and its refusal to release these records is, quite frankly, suspicious,” said Tristan Leavitt, president of Empower Oversight.

Leavitt emphasized that transparency is essential to addressing concerns over regulatory bias and ensuring accountability in the crypto sector.

The SEC has faced mounting criticism for its regulatory approach, with industry leaders, including Coinbase, accusing the agency of selective enforcement.

Former SEC Chair Gary Gensler also faced scrutiny for aggressive litigation against major crypto firms like Coinbase and Ripple.

Empower Oversight remains committed to obtaining the SEC OIG report, arguing that public access to the findings is necessary to evaluate the agency’s handling of crypto regulations.

@ Newshounds News™

Source:  Crypto News

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Seeds of Wisdom RV and Economic Updates Wednesday Morning 2-5-25

Good Morning Dinar Recaps,

REPUBLICAN LAWMAKERS LAUNCH BICAMERAL WORKING GROUP TO BRING CLARITY TO CRYPTO

Republican lawmakers announce a bicameral working group to fast-track crypto regulations, focusing on stablecoins and digital asset market rules in a major push for long-awaited industry clarity.

Republican lawmakers are stepping up their efforts to bring clear rules to the crypto industry, forming a bicameral* working group to push legislation on stablecoins and digital asset market structures.

The move, announced on Feb. 4 at a Capitol Hill press conference, marks a coordinated effort between key House and Senate leaders to create a structured framework for crypto regulation, an issue that has remained in legal limbo for years.

The working group includes members from four major committees—the House Financial Services Committee, the House Agriculture Committee, the Senate Banking Committee, and the Senate Agriculture Committee—showing that lawmakers see crypto regulation as an issue that spans multiple sectors of financial oversight.

Representative French Hill of Arkansas, along with Senators Tim Scott and John Boozman and Representative Glenn Thompson, will play leading roles in shaping these policies, drawing from existing legislative efforts while introducing new proposals.

Lawmakers plan to build on the Financial

Innovation and Technology for the 21st Century Act (FIT21), which passed a House committee in 2024, while also using a new stablecoin bill introduced by Senator Bill Hagerty on Feb. 4 as a starting point for further discussions.

Senate Banking Chair Tim Scott has made it clear that speed is a priority, saying he wants to push the crypto bills through the Senate within the first 100 days of the congressional session.

Conversations with Democratic colleagues are already underway, raising the possibility that some elements of these bills could gain bipartisan support.

At the press conference, David Sacks, Trump’s crypto and artificial intelligence czar, spoke about the broader vision for digital assets, calling this a key moment to create a “golden age” for crypto in the U.S.

His role extends beyond Congress, as he is also overseeing a separate initiative within the White House to assess the possibility of a government-held Bitcoin reserve.

Trump’s executive order on Jan. 23 laid the foundation for that discussion, along with directives to prevent the creation of a central bank digital currency.

For years, the lack of clear rules has driven many crypto firms to set up operations overseas, where regulations have been more clearly defined. If successful, this working group could finally give the crypto industry the clarity it has long been waiting for.

*Bicameral legislature is a lawmaking body that's divided into two separate chambers. The two chambers work together to pass laws. A bicameral legislature in the United States Congress: The House of Representatives and the Senate are the two chambers of the U.S. Congress.

@ Newshounds News™

Source:  Crypto News

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ROBINHOOD HALTS SUPER BOWL BETS A DAY AFTER LAUNCH ON CFTC REQUEST

Robinhood Markets has suspended Super Bowl betting after receiving a request from the Commodities and Futures Trading Commission to nix its customers’ access to the event contracts.

The halt comes just a day after Robinhood launched the product in partnership with prediction market Kalishi, allowing wagers on the outcome of the Philadelphia Eagles versus Kansas City Chiefs Feb. 9 game in the National Football League’s championship Super Bowl.

In a Feb. 4 announcement, Robinhood said it would suspend the rollout of the Pro Football Championship market as it continues to work with the CFTC to understand its concerns.

The firm said it had rolled out the product to around 1% of its customers, some of who had already placed trades.

“We are disappointed by this outcome, especially given that we had been in regular communication with the CFTC about our intent and plans to offer this product,” Robinhood said.

It comes just a day after reports that the CFTC was probing Crypto.com and Kalshi over their offerings of Super Bowl event contracts and whether they comply with derivatives regulations.

Event contracts differ from traditional betting in that the odds come from a pool of users betting on the likely winner rather than a bookmaker creating the odds.

Crypto.com told Cointelegraph it would continue to offer the wagers despite the probe.

Robinhood made its first foray into event contracts in October, offering trades based on the outcome of the US presidential election.

The announcement followed a court win by prediction platform Kalshi against the CFTC, allowing the platform to offer US-based users contracts for betting on election outcomes.

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

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“Tidbits From TNT” Wednesday Morning 2-5-2025

TNT:

Tishwash:  Finance announces the launch of national bonds (first issue) for public subscription

The Ministry of Finance, represented by the Public Debt Department, announced the launch of national bonds (first issue) for public subscription, with a total value of (2) trillion Iraqi dinars, for the period from February 10 to March 10, 2025, as part of its plan to enhance local investment and provide savings tools for citizens and investors.

The ministry's statement stated that the bonds are distributed into two categories: ️The first bond is worth 500,000 dinars with an annual interest of 6%, and is due after two years, with interest paid every six months.

The second bond is worth 1,000,000 dinars with an annual interest of 7.5%, and is due after four years, with interest paid every six months. It explained

The bonds are characterized by their tradability on the Iraq Stock Exchange, which provides a distinct investment opportunity for citizens and companies looking for stable financial instruments.

She explained that the bond offering comes based on Article 77 first of the Federal General Budget Law No. (13) for the years 2023, 2024, and 2025, with the aim of supporting the national economy and enhancing confidence in the Iraqi financial system.  link

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Tishwash:  Governor of the Central Bank of Iraq receives the French Ambassador accompanied by a delegation from the French business sector

The Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received the French Ambassador to Iraq, Mr. Patrick Dorrell, and a French delegation, which included a number of French banks and companies in various sectors, in the presence of officials from the Central Bank of Iraq and the Director General of TBI Bank. 

His Excellency the Governor reviewed the investment opportunities in all sectors, especially after the security stability witnessed by Iraq.

He explained the priorities, plans and initiatives that the Central Bank is working on to achieve general stability in prices by controlling the inflation rate, and supporting economic growth through its financing initiatives to achieve economic diversification.

He pointed to the role of the Central Bank in expanding financial inclusion, moving to electronic payment, digitizing the economy, integrating into the global economy and its financial system, and the great success in moving foreign transfer operations to the latest international practices and standards.

His Excellency explained the laws that facilitate the movement of investors' funds into and out of Iraq, stressing the endeavor to overcome the difficulties facing investment companies wishing to work in Iraq, within the area of ​​specialization. 

For his part, His Excellency the French Ambassador stressed that French companies have an important and great opportunity to invest in Iraq and deal directly with the private sector, especially with the existence of laws that support investors and commercial projects.

The French delegation also participated in the dialogue and raised the most important questions that contribute to understanding investment opportunities, while His Excellency took the initiative to answer the delegation’s inquiries as well as the officials present at this meeting. 

Central Bank of Iraq 
February 4, 2024
Media Office  link

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Tishwash: Joint statement by the Sudanese Office and the Central Bank on the modernization of the banking sector

Joint statement from the Office of the Prime Minister and the Central Bank of Iraq,

 Banking reforms constitute an important pillar of the economic reform adopted in the government program. In order to complete the important steps that the government has started in this framework since it began its work, and in order to achieve a package of development targets that require banking development, the government, in cooperation with the Central Bank of Iraq, has embarked on a comprehensive initiative that includes a comprehensive strategic banking reform process that constitutes a turning point in the history of economic development in Iraq, and is consistent with the extent of commitment to raising the level of banking standards, enhancing financial flexibility, and supporting the competitiveness of the financial system.

These comprehensive reforms aim to keep pace with developments in the countries of the region and the world, and contribute to opening partnerships and prospects for communication with the outside world on a broad scale in modern banking and financial transactions, as the Central Bank works to implement and develop regulatory and supervisory frameworks with international partners, which contributes to achieving sustainable growth and development of the banking sector, just as the government works to support the reforms and efforts of the Central Bank of Iraq in developing the state of the banking sector.

These reform efforts focused on the following main areas:

1- Strengthening ownership structures and governance frameworks, by enhancing transparency and accountability, through measures including the creation of diverse ownership structures, and ensuring independent oversight by boards of directors over operations and committees.

2- Raising the level and standards of service, by increasing access to basic financial services for all members of the Iraqi people, through enhancing efficiency, increasing the supply of products, and modernizing the infrastructure of the banking sector.

3- Harmonization and conformity with international standards, by imposing adherence to recognized frameworks and practices in the areas of combating money laundering and combating the financing of terrorism, as well as commitment to financial transparency in order to ensure smooth banking services and support businesses and citizens’ needs.

4- Enhancing financial flexibility, by enhancing the financial safety of Iraqi banks and setting strong requirements regarding capital and cash liquidity, to protect customer deposits and protect the economy in the face of local and international challenges.

This initiative comes within the framework of a broader strategy aimed at modernizing the banking sector, which the Central Bank of Iraq is currently developing in partnership with Oliver Wyman, a leading global management consulting firm. The ongoing reforms being implemented with government banks enhance the integration of this strategy, representing a turning point in the future of the Iraqi financial system.

The implementation details of these reforms will be presented later.

From this standpoint, the government and the Central Bank affirm the adoption of a common reform vision, which is to establish a modern, transparent and comprehensive banking system that supports the aspirations of the dynamic economy of the Iraqi state.  link

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Mot: . poor ole ""Earl"" -- the abuse!! – LOL