“Tidbits From TNT” Saturday Morning 3-1-2025

TNT:

Tishwash: Iraq among the best in the world in controlling the sale of the dollar

The Governor of the Central Bank, Ali Al-Alaq, confirmed today, Saturday, that Iraq has become one of the best countries in the world in controlling the sale of the dollar.

Al-Alaq said in an interview with the official agency, followed by Iraq Observer, that “Iraq has today become one of the best countries in the world in controlling the sale of the dollar, as this process is carried out with transparency and accuracy, and through it the citizen verifies his documents and his departure from the country,” explaining that “this mechanism is the most disciplined, transparent and controlled in the world, as indicated by international experts.”

Al-Alaq added that “false news and media distortion may harm the interests of Iraq and the banking sector,” stressing the importance of being proud of the major developments witnessed by Iraq. He explained that “the government and the Central Bank are working hard to establish sound practices that are compatible with international standards,” calling for “the need to highlight these achievements in the media.”

He pointed out that “highlighting these transformations and developments helps enhance international confidence in the Iraqi banking sector, which is vital to continue developing the financial system in Iraq.”link

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Tishwash:  Financial Advisor: Central Bank Digital Currency Will Boost Transparency, Improve National Payments 

The financial advisor to the Prime Minister, Mazhar Mohammed Saleh, explained today, Saturday, that issuing a digital currency for the Central Bank will be an important step towards enhancing transparency and achieving a qualitative leap in the national payments system. 

Saleh said in a statement to the official agency, followed by NRT Arabic, that "the Central Bank plans to issue a digital currency as a gradual alternative to paper currency," noting that this step will contribute to reducing cash leakage and lowering the costs of printing paper currency, in addition to reducing the circulation of money outside the banking system.

He added that the digital currency will allow tracking financial flows, improve control over capital and foreign transfers, support anti-money laundering efforts, and contribute to enhancing financial inclusion, especially for groups less integrated into the banking system.

Saleh explained that Iraq's transition to digital currency requires a strong technical infrastructure, including advanced internet networks and advanced cybersecurity systems to protect data and transactions.

Digital currencies will also support efforts to enhance economic and social integration through government use in collection operations and official transactions.  link

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Tishwash:  Federal Oil invites "APICOR" and Kurdistan Wealth to meet in Baghdad

The Federal Ministry of Oil has set next Tuesday as the date for a meeting with the Ministry of Natural Resources in the Kurdistan Region to discuss issues related to the concluded contracts and reach understandings that contribute to the development of oil fields, while an invitation was extended to foreign companies contracting with the Kurdistan Regional Government to develop the region’s fields.

The ministry stated in a statement, received by the Iraqi News Agency (INA) today, Saturday, that it "extended an invitation to international foreign companies under (APICOR) and contracted with the Kurdistan Regional Government to develop the region's fields."
 
The statement continued, "The ministry extended an invitation to the Ministry of Natural Resources in the region to attend in Baghdad next Tuesday for the purpose of discussing and debating issues related to the concluded contracts to reach understandings that contribute to developing the oil fields with the best international practices and in a manner that serves the national interest."  link

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Tishwash:  Reasons for stopping cash withdrawals outside Iraq by TBI

 Today , Friday (February 28, 2025), banking and financial affairs specialist Ahmed Abdul Rabbo revealed  the reasons for stopping cash withdrawals outside Iraq by the Trade Bank of Iraq.

“There is a strong possibility that the decision is related to combating currency smuggling, as the Central Bank of Iraq and financial institutions have previously taken similar measures to limit the exit of the dollar through unofficial means,” Abdul Rabbo told Baghdad Today.

He explained that “some parties were using electronic payment cards to withdraw cash from abroad with money purchased at the official exchange rate inside Iraq, then reselling it at higher prices in the parallel market, which constitutes a type of currency smuggling.”

He explained that "there is a strong possibility that the decision came in response to American pressures related to regulating dollar flows and preventing its smuggling to countries subject to American sanctions, such as Iran. Washington has imposed strict restrictions on Iraqi banks in recent periods, and asked the Central Bank of Iraq to take strict measures to control financial transfers, especially after detecting currency smuggling operations through the use of electronic payment cards."

He added that "the decision appears to have come as part of broader measures to control the banking sector and prevent the misuse of the dollar, and is an extension of previous measures imposed by the Central Bank, either in response to American pressure or as part of efforts to combat financial corruption and smuggling."

Yesterday, Wednesday, the Trade Bank of Iraq announced the suspension of cash withdrawals via ATMs outside Iraq.

The bank's media advisor, Aqil Al-Shuwaili, said in a brief statement, "Due to the risks resulting from the misuse of electronic cards (Visa and MasterCard), and to avoid these risks, cash withdrawals via ATM machines for these cards outside Iraq only have been stopped."

He added, "Cards can be used to pay through POS machines and online."  link

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Mot:  . Gotcha! 

Mot: . Isn't This da Way it Always Works Out!! --- siiggghhhh

MilitiaMan & Crew-Iraq Dinar News-Success-Electronic Money Transfers-Accelerated Pace-Future is Now-Forex Warning

MilitiaMan & Crew-Iraq Dinar News-Success-Electronic Money Transfers-Accelerated Pace-Future is Now-Forex Warning

2-28-2025

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=V1f2tCi1P9U

Lawrence Lepard: The Big Print - Make the Money System Great Again

Lawrence Lepard: The Big Print - Make the Money System Great Again

Palisades Gold Radio:  2-28-2025

Tom welcomes back Lawrence Lepard from Equity Management Associates to discuss his new book, "The Big Print: What Happened to America and How Sound Money Will Fix It."

Lepard emphasized that the U.S. monetary system began deteriorating with Nixon's abandonment of the gold standard in 1971, leading to persistent inflation and debt accumulation.

He argued that sound money — gold, silver, and Bitcoin — is essential to fix these issues.

 Gold provides stability, while Bitcoin offers a digital solution to scarcity and divisibility, though it is still volatile.

The interview explored how inflation affects everyday life, with Lepard noting that the government's reported inflation rates often underestimate real costs.

He criticized the Federal Reserve for prioritizing debt servicing over economic fairness, leading to a cycle of printing money that disproportionately harms wage earners. Lepard also discussed the political challenges in transitioning to sound money, suggesting that widespread public awareness and grassroots support are needed to push for systemic change.

He warned against complacency, noting that the U.S. is on a trajectory toward a debt crisis unless decisive action is taken.

 The conversation concluded with Lepard encouraging listeners to engage with his book to better understand these issues and advocating for a future where sound money restores economic health and fairness.

 Time Stamp Reference

 0:00 - Introduction

0:40 - The Big Print

7:20 - Where It Went Wrong

10:00 - CPI Chart 1800-2005

12:00 - Inflation a Key Issue

 15:00 - The Wealth Gap

18:30 - Next Monetary Crisis

21:20 - A Moral Imperative

23:00 - Debt System Origin

 26:00 - Top Vs. Bottom Wealth

27:00 - Why All Fiats Fail

31:00 - Lies & Inflation Stats

34:50 - Deflation Boogeyman

38:00 - Solutions & Outcomes

 45:00 - Peg to Real Assets

48:45 - Bitcoin Advantages

52:20 - Resets & Reserve Currency

 56:30 - Book & Wrap Up

https://www.youtube.com/watch?v=Rs97B5wZH9s

Seeds of Wisdom RV and Economic Updates Friday Afternoon 2-28-25

Good Afternoon Dinar Recaps,

SEC COMMISSIONER DISSENTS ON AGENCY’S MEMECOIN STANCE

Commissioner Caroline Crenshaw said that the agency’s working definition of memecoins was vague and could be easily misconstrued.

US Securities and Exchange Commission Commissioner Caroline Crenshaw issued a dissenting opinion on the SEC’s recent stance that memecoins are not securities.

According to the commissioner’s Feb. 27 statement, memecoins could satisfy the Howey test’s condition of profiting from the managerial efforts of others due to the coordination between developer teams and promoters.

The commissioner added that most, if not all, cryptocurrencies could be defined as memecoins under the SEC’s recent guidance, which was released on the same day. In this guidance, the agency stated that memecoins represent online social trends with speculative value and high volatility — and are not securities. Commissioner Crenshaw, however, has a different viewpoint:

“Today’s statement paints meme coins as cultural projects whose purpose is entertainment and social engagement. The reality is that meme coins, like any financial product, are issued to make money.”

Memecoins have come into sharper focus following several high-profile scams, hacks and even presidential memecoin launches that threaten the long-term viability of the sector and invite scrutiny from state officials.

US regulators and lawmakers attempt to reign in memecoins

Following US President Donald Trump’s memecoin launch, several Democrat lawmakers, including Elizabeth Warren, called for an investigation into potential ethics violations of the presidential token.

On Feb. 27, California Member of Congress Sam Liccardo announced that House Democrats are prepping a bill that would ban presidential memecoins.

The proposed bill, titled “The Modern Emoluments and Malfeasance Enforcement (MEME) Act,” would prohibit US lawmakers from sponsoring, issuing or endorsing any digital asset.

Moreover, spouses and dependents of US representatives, the president, vice president and senior executive branch officials are also prohibited from issuing or sponsoring memecoins under the bill.

Attorney Elizabeth Davis, former chief attorney at the Commodity Futures Trading Commission (CFTC), recently argued that memecoins should be regulated by the CFTC.

Davis told Cointelegraph that if the commodities regulator is granted regulatory oversight over crypto, then there is a strong likelihood that memecoins will be included in their purview.

The attorney also expressed confidence that comprehensive memecoin regulations would be established in the United States over the next year — putting an end to the regulatory ambiguity surrounding social tokens.

@ Newshounds News™

Source:  CoinTelegraph

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ARIZONA APPROVES BITCOIN RESERVES, BUT WYOMING AND MONTANA ARE SAYING NO – HERE’S WHY

▪Arizona advances crypto legislation - two bills, one establishing a digital asset reserve and another focused on Bitcoin investment

▪While Arizona embraces crypto reserves, other states like Wyoming and Montana reject them due to volatility concerns.

▪Bitcoin's recent price drop fuels skepticism, while predictions suggest federal crypto legislation is forthcoming.

Arizona is pushing ahead with cryptocurrency investment as two Bitcoin reserve bills have passed the Senate, setting the stage for final approval in the state’s House of Representatives.

While states like Wyoming and Montana are rejecting similar measures over concerns about crypto’s volatility, Arizona is doubling down on digital assets.

If these bills pass in the state’s House of Representatives, Arizona could become one of the first states to officially hold Bitcoin in its reserves.

Senate Approves Bitcoin Reserve Bills

On Feb. 27, the Arizona Senate approved the Strategic Digital Assets Reserve bill (SB 1373) in a 17-12 vote, sending it to the House for final approval. Sponsored by Republican Senator Mark Finchem, the bill aims to create a Digital Assets Strategic Reserve Fund, which will be managed by the state treasurer. The fund will include legislative appropriations and crypto assets seized by the state.

To limit risk, the treasurer would be allowed to invest no more than 10% of total fund deposits per fiscal year. However, the state could loan out digital assets to generate returns as long as it doesn’t add financial risk.

Another Bill Aims to Allow Bitcoin Investments

A second Bitcoin-related bill is also moving forward. The Strategic Bitcoin Reserve Act (SB 1025), co-sponsored by Republican Senator Wendy Rogers and Representative Jeff Weninger, passed the Senate with a 17-11 vote.

Unlike Finchem’s bill, which focuses on managing seized crypto assets, SB 1025 allows the state to invest public funds directly into Bitcoin and other cryptocurrencies. This signals Arizona’s growing commitment to incorporating digital assets into its financial strategy.

Crypto Legislation Gaining Momentum Nationwide

Dennis Porter, founder of Satoshi Action Fund, believes federal regulation of cryptocurrencies is inevitable. He predicts lawmakers will first regulate stablecoins, followed by broader market structure rules, and eventually, Bitcoin reserves.

While Arizona and Utah are leading the push for crypto reserves, 18 other states are still waiting for approval. However, not all states are on board—Montana, Wyoming, and others have rejected similar plans, calling Bitcoin too risky.

Trump Weighs Heavy on the Markets

Despite increasing political support for crypto, Bitcoin’s price has taken a hit. The asset dropped below $80K, and analysts fear it could fall further to $70K–$75K. Bitcoin is down 17% this week, with Trump’s tariff policies adding to market uncertainty.

Amid the panic, Michael Saylor jokingly told investors to “sell a kidney if you must, but keep the Bitcoin.” While Saylor continues to advocate for a U.S. Bitcoin reserve, the recent price drop has given skeptics more reason to doubt Bitcoin’s long-term stability.

@ Newshounds News™

Source:  Coinpedia
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FEBRUARY IN CHARTS: SEC DROPS 6 CASES, MEMECOIN CRAZE COOLS AND MORE

bitcoin pic

@ Newshounds News™

Read the story:  CoinTelegraph

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Seeds of Wisdom RV and Economic Updates Friday Morning 2-28-25

Good Morning Dinar Recaps,

WHEN IS THE BRICS SUMMIT IN 2025?

Brazil will chair the BRICS summit in 2025 under the helm of President Luiz Lula da Silva. The alliance will reinforce its commitment to reshape the global order and usher their economy into a new financial territory. Apart from discussing financial issues, the bloc will also make decisions on climate change and global governance.

The BRICS alliance will collectively collaborate on policymaking at the 2025 summit and represent the population of developing nations. This year’s summit is important as the nine-member bloc will decide on concrete steps to strengthen their economies. The move could reshape the geopolitical landscape and challenge the Western-dominated global financial order.

When & Where Is The Next BRICS Summit in 2025?

The next BRICS summit in 2025 is scheduled to take place in Brazil’s Rio De Janeiro from July 6th to 7th. The 17th summit will discuss de-dollarization, strengthening of local currencies, new trade deals, and also rewrite policies favoring developing nations. In addition, the alliance might also consensually decide about inducting new countries into the bloc.

Several leaders have hinted that the 17th BRICS summit in 2025 could begin discussions about alternative payment options to the US dollar. Brazil and India have confirmed that they do not support the formation of a BRICS currency. They are looking at various methods to settle cross-border transactions in local currencies.

“This is being discussed in BRICS (2025 summit), at the initiative of (Brazilian President Luiz Lula da Silva). The previous summit stated a decision on the necessity of developing a proposal on alternative payment platforms through finance ministries and central banks.

Such proposals have been made, they suggest, in particular, the creation of a so-called trans-border payment initiative, the creation of a reinsurance company, and the BRICS Clear settlement and depositary infrastructure,” said Russian Foreign Minister Sergey Lavrov.

@ Newshounds News™

Source:  Watcher Guru

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XRP NEWS TODAY: CLOSED-DOOR MEETING FUELS SPECULATION OVER RIPPLE LAWSUIT DISMISSAL

▪Ripple vs SEC’s closed-door meeting sparks speculation about lawsuit being dismissed soon.

▪Political pressure increases as Senator Lummis challenges SEC’s crypto regulatory approach.

▪Ripple's XRP dropped by 8% but lawsuit dismissal could push price toward $3.20

The U.S. Securities and Exchange Commission (SEC) held a closed-door meeting on February 27, 2025, sparking speculation about the future of the Ripple lawsuit. With the SEC recently dropping cases against major crypto firms like Coinbase, Uniswap, and Robinhood, many wonder if Ripple could be next.

Could the SEC End the Ripple Case?

The SEC sued Ripple in December 2020, saying the company sold XRP as an unregistered security. However, Judge Analisa Torres ruled in 2023 that XRP itself is not a security, weakening the SEC’s case.

Now, with increasing pressure on the SEC, people believe the agency might be ready to move on.

At the recent SEC meeting, officials discussed legal matters and settlements. While the details are secret, many think the Ripple case may have been included. Former SEC lawyer Marc Fagel does not believe this is a sign of progress, but pro-XRP lawyer Bill Morgan is confident that Ripple has the upper hand.

Political Pressure May Shake the Market

Senator Cynthia Lummis recently criticized the SEC’s approach to crypto regulation, stating that most digital assets are not securities under the Howey Test. Meanwhile, this aligns with Judge Torres’ ruling in the Ripple case, further strengthening Ripple’s position.

No official decision has been announced yet, but the next key date is April 16, when Ripple must submit its reply to the SEC’s appeal. If the SEC withdraws before then, it could mark the end of the long-running case, paving the way for a brighter future for XRP.

What Next For XRP?

As of now, XRP’s price is trading around $2.03 reflecting a drop of 8.19% with a market cap hitting $142 billion. However, many crypto experts believe that if the SEC drops the case, XRP could rise sharply. Some even predict a jump toward $3.20.

Meanwhile, there is also talk if Ripple lawsuits get dismissed, it will open the door for the approval of an XRP exchange-traded fund (ETF), which could push XRP’s price even higher.

@ Newshounds News™

Source:  Coinpedia

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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“Tidbits From TNT” Friday Morning 2-28-2025

TNT:

Tishwash:  Within hours... the region's oil will be re-exported through SOMO

The Ministry of Oil announced today, Friday, that the coming hours will witness the re-export of Kurdistan Region oil through the State Oil Marketing Company (SOMO).

"Deputy Prime Minister for Energy Affairs and Minister of Oil, Eng. Hayan Abdul-Ghani Al-Sawad, is visiting Khor Al-Zubair port to see the gas pipeline connection operations," she said in a statement.

The minister confirmed, according to the statement, that “Iraq will announce in the coming hours the commencement of the region’s oil export operations through the State Oil Marketing Company (SOMO) via the Turkish port of Ceyhan at an initial rate of 185,000 barrels, gradually increasing to reach the capacity specified in the general federal budget.” link

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Tishwash:  From Safe Internet to Smart Systems" Iraq Enters the Digital Revolution Era with Steady Steps

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that Iraq is moving steadily towards achieving a major digital renaissance, based on a set of foundations that support this trend.

Saleh explained to {Euphrates News} agency, "The most prominent of these foundations is the progress achieved in two types of infrastructure."

He explained that "the first category is represented by the advanced technological infrastructure, whether through secure and strong internet networks or digital payment systems that work effectively and efficiently in parallel with each other."

Saleh continued, "As for the other category, it is the advanced legal infrastructure that provides protection for the rights of users, operators, and the public right against electronic and financial crimes arising from the digital transformation."

He pointed out "the importance of having the ability to keep pace with the developments of digital technology in the virtual world on an ongoing basis," indicating that "the advisory team in the General Secretariat and all relevant Iraqi state institutions are keen to achieve this to ensure that Iraq enters the new digital age."  link

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Tishwash:  Iraq agrees to supply Lebanon with crude oil, with immediate cash payment

 Lebanese media sources quoted informed sources as saying that the Lebanese delegation to Iraq (consisting of IDAL Chairman Mazen Sweid and Brigadier General Hassan Shaqir) agreed with Iraqi officials to renew the fuel supply contract to operate the Electricité du Liban plants with some amendments to its implementation mechanism.

The sources indicated that Iraq will supply about 2 million tons of crude oil after it had been supplying fuel oil, in exchange for paying the price of the shipments in cash and immediately, unlike the three previous versions of the contract that included Lebanon paying the price of the shipments through services provided in Lebanon to the Iraqis, provided that the previous arrears amounting to 2 billion dollars would be addressed through the platform between the two countries to provide the agreed-upon services.

By the end of 2024 and until the formation of the new government, a huge amount has accumulated on Lebanon for the price of fuel shipments. Lebanon has only paid $118 million out of $2 billion. This accumulated amount is the result of three copies of renewed contracts between the two parties.

The fourth version of the contract includes the supply of 2 million tons of crude oil and payment for it in cash.

These renovations were carried out with “provisions” and “sympathy” even though Lebanon was not paying the cost of the shipments. Despite Iraqi facilities, Lebanon was unable to pay the bills.

These facilities stipulated that Lebanon would pay the price of fuel in Lebanese pounds, and that the amounts would be deposited in the Iraqi government’s account at the Bank of Lebanon, and would be spent on services for Iraqis (including hospitalization and medical treatment for Iraqis in Lebanon) in Lebanon exclusively.  link

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Tishwash:  Central Bank of Iraq signs agreement with Emirates Islamic Bank

The Central Bank of Iraq announced the signing of a banking agreement with Emirates Islamic Bank, which is considered one of the highest-rated Islamic banks, and is rated (A+) according to the international Fitch agency.

Thus, Emirates Islamic Bank is a distinctive addition to the banking relations that the Central Bank of Iraq has established with advanced regional and international banks in recent years.
The agreement includes joint cooperation on several axes, the most important of which are:

Exchange of experiences in the field of developing the Islamic banking sector.

Providing payment services in UAE Dirhams to Iraqi banks and expanding their correspondent accounts network.

Cooperation between Iraqi banks and Emirates Islamic Bank, under the supervision and support of the Central Bank of Iraq, to ​​formulate a mechanism that will allow individual customers of Iraqi banks in the near future to invest (partially) in Islamic bonds issued by Emirates Islamic Bank or other issuers with a similar credit rating in the United Arab Emirates.

It is noteworthy that the Central Bank of Iraq announced in August of last year the start of a new phase of foreign transfer operations in a step aimed at enhancing the diversity of currencies and facilitating international transfer operations. This announcement came after reaching an agreement on the mechanisms for regulating dealings in the euro, the Chinese yuan, the Indian rupee, the UAE dirham, and other global currencies.

Central Bank of Iraq
Media Office
February 27, 2025  link

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Mot: ..... Ready I Am 

Mot: .. Just Perspective it is

Iraq Economic News and Points to Ponder Thursday Evening 2-27-25

Iraqi-Swiss Agreement To Prevent Double Taxation And Enhance Economic Cooperation

The Ministry of Finance announced today, Thursday, the signing of an agreement with Switzerland aimed at preventing double taxation and evasion of income and capital taxes, in order to enhance economic cooperation between the two countries.

The ministry stated in a statement that Iraq and the Swiss Confederation initialed the agreement on Wednesday, February 26, where the Iraqi side in the negotiations was headed by Mohammed Hamza Mustafa, Director General of the Legal Department and Acting Director General of the General Tax Authority, with the participation of a number of officials, financial and legal experts, and a representative of the Iraqi Fund for External Development.

The ministry stressed that the agreement aims to create an attractive investment environment by reducing the tax burdens on Swiss companies and investors, which contributes to strengthening trade and economic relations between the two countries. It also indicated that the Swiss Confederation is one of the advanced countries in the field of tax collection, and cooperation with it would attract Swiss capital, which represents one of the most important investments in the Middle East region, to support the development process in Iraq.   https://www.radionawa.com/all-detail.aspx?jimare=41277

Crude Oil Prices Stabilize 

Time: 2025/02/27 08:12:42 Read: 1,665 times   {Economic: Al Furat News} Oil prices stabilized near their lowest closing level this year, amid US President Donald Trump’s threats to impose tariffs and a range of supply-related issues.

WTI crude traded below $69 a barrel after losing nearly 3% in the previous two sessions, while Brent crude held above $72.

Trump said the planned tariffs on Mexico and Canada “are not going to stop,” but did not specify when they would be implemented. He also indicated that imposing tariffs on the European Union was still under consideration.

Record monthly losses

Oil looks set for its biggest monthly loss since September as rising trade tensions between the United States and its trading partners weigh on the economic outlook.

That concern has overshadowed the potential impact of tightening sanctions on Iran, which Trafigura Group identified as the biggest upside risk to prices, as well as the possibility that the OPEC+ alliance will delay restoring shut-in production again.

Supply issues: From Venezuela to Iraq

On the supply front, Trump said he plans to revoke Chevron Corp.’s license to operate in Venezuela, threatening the country’s economic recovery.

In the Middle East, Iraq announced that it had reached an agreement with the Kurdistan Region to resume crude oil exports, but did not specify a time frame for implementation. LINK

Gold Prices Decline Slightly As The Dollar And US Bond Yields Rise

Thursday 27 February 2025 11:45 | Economic Number of readings: 196  Baghdad / NINA / Gold prices fell on Thursday, under pressure from the rise in the dollar and US Treasury yields, while investors are awaiting an important report on inflation to assess the path of the Federal Reserve's monetary policy.

Spot gold prices fell by 0.1 percent to $2912.94 per ounce, while US gold futures fell by 0.1 percent to $2927.20.

In contrast, the dollar index rose by 0.2 percent, moving away from its lowest levels in 11 weeks, and US 10-year Treasury yields recovered from their previous losses.

As for other metals, silver stabilized at $31.84 per ounce, while platinum fell by 0.1 percent to $964.95, and palladium fell by 0.1 percent to $926.03 https://ninanews.com/Website/News/Details?key=1189078

Slight Decrease In Dollar Prices In Baghdad

Stock Exchange  Economy News – Baghdad  The exchange rate of the US dollar against the Iraqi dinar fell slightly in Baghdad markets on Thursday.

The dollar prices witnessed a decline in the two main stock exchanges in Baghdad, Al-Kifah and Al-Harithiya, to record 148,850 dinars for every 100 dollars, while yesterday morning, Wednesday, it recorded 148,900 dinars for every 100 dollars.

Selling prices in exchange shops in local markets in Baghdad recorded stability, as the selling price reached 150,000 dinars for 100 dollars, while the purchase price reached 148,000 dinars for 100 dollars.
https://economy-news.net/content.php?id=53021

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

Seeds of Wisdom RV and Economic Updates Thursday Evening 2-27-25

Good Evening Dinar Recaps,

SOCIAL SECURITY UPDATE: LAWMAKERS' NEW PLAN WOULD EXPAND BENEFITS BY $2,400

Some members of Congress are pushing for a new law that would expand Social Security benefits by $2,400 annually.

The bill, the Social Security Expansion Act, would also ensure the program is funded for the next 75 years by applying a payroll tax on higher-income workers.

Why It Matters

Social Security faces a funding crisis that could see the Social Security Administration run out of money for full payments by the mid-2030s.

Millions of Americans rely on the program to fund the bulk of their retirement, but seniors have complained in recent years that the benefits' cost-of-living adjustment doesn't adequately reflect inflation.

Across the board, seniors are facing higher costs for groceries, housing and health care.

What To Know

Independent Senator Bernie Sanders of Vermont, Senator Elizabeth Warren, Democrat from Massachusetts, and Democratic Representatives Jan Schakowsky of Illinois and Val Hoyle of Oregon introduced the bill on Thursday in an attempt to increase benefits for millions of Americans.

The act calls for Social Security benefits to rise by $2,400 per year and would be fully funded for the next 75 years through application of a payroll tax on all income above $250,000.

That means only 9 percent or less of American households would see taxes increase in order to fund the higher benefit amount and ensure funds for the next 75 years.

At the moment, nine other Democratic senators and 17 House members have cosponsored the bill.

Before Social Security was created by President Franklin D. Roosevelt in the 1930s, around half of all seniors lived in poverty. Today, the senior poverty rate is down to 9.7 percent, thanks in large part to Social Security payments, according to the lawmakers.

The average Social Security payment is $1,838 per month, with nearly 40 percent of seniors relying on it for a majority of their income. One in seven count on it for more than 90 percent of their income.

@ Newshounds News™

Read more:  MSM

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TREASURY’S NEW CRYPTO COUNSELOR ADVOCATES FOR SWIFT STABLECOIN LEGISLATION

Tyler Williams, newly appointed crypto counselor to Treasury Secretary Scott Bessent, has announced his focus on helping Congress develop appropriate stablecoin legislation as the US accelerates crypto regulation efforts.

▪Williams emphasizes creating clear legal guidelines for stablecoins to boost industry confidence and ensure consistent regulatory approaches across jurisdictions.

▪The Treasury Department's decision to hire Williams signals willingness to responsibly integrate crypto into the mainstream financial system.

▪Bipartisan support continues building with the FIT21 bill passing the House in May 2024 and Senator Hagerty's GENIUS Act seeking to place dollar-pegged tokens under Federal Reserve oversight.

Tyler Williams recently got appointed as the crypto counselor to Treasury Secretary Scott Bessent. However, he has revealed that his first line of actions in this new role will include helping Congress to get stablecoin legislations exactly where they need to be.

Williams’ comment came during a private digital assets event that was recently held in Washington, D.C. This is, as the US accelerates its efforts to regulate a crypto sector that continues to grow at such a remarkable rate.

Tyler Williams Hammers on Unified Regulatory Framework

According to Williams, there is an urgent need for a concerted effort towards creating clear legal guidelines and regulatory environment for stablecoins. He noted that this would not only boost the industry’s confidence but also ensure that both state and federal regulators operate under a consistent framework.
This way, there is a uniform approach to the issuance and oversight of stablecoins that cut across various jurisdictions.

Williams, who previously served as a regulatory lawyer for Galaxy Digital, has also shared his optimism for the times ahead. He believes that the Treasury Department’s decision to hire him already proves that the US is more than willing to introduce crypto into the mainstream financial system, but in a responsible manner.

Bipartisan Momentum in Congress

Speaking at the same event, Representative Bryan Steil, a Wisconsin Republican and chair of the House Financial Services Committee’s digital assets subcommittee, appeared to share the same optimism as Williams. The lawmaker noted that the legislative push for stablecoin regulation has gained serious momentum and bipartisan support.

Despite the notable bipartisan backing that saw the FIT21 pass the House in May 2024, however, Steil insists that the US still needs to “outcompete the rest of the world” in its support of digital assets. That is, if the nation wants to sustain this legislative momentum and see it grow, Steil added.

Interestingly, efforts are also ongoing in the Senate to establish a comprehensive regulatory framework for stablecoins. In early February, Senator Bill Hagerty introduced the Guiding and Establishing National Innovation for US Stablecoins of 2025 Act (GENIUS Act).

This legislation aims to bring US dollar-pegged crypto tokens under Federal Reserve rules. It also seeks to clearly define the roles of federal and state authorities in overseeing stablecoin issuers.

The bill has been hailed as addressing a key challenge that has previously hindered regulatory clarity, especially for stablecoins.

@ Newshounds News™

Source:  CoinSpeaker

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Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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The Global Financial System is Broken

The Global Financial System is Broken

WTFinance:  2-26-2025

The WTFinance podcast recently welcomed back Larry Lepard, Managing Partner of Equity Management Associates, a veteran investment manager with over 40 years of experience and a staunch advocate for sound money.

 Lepard is also the author of the newly released book, “The Big Print: What Happened To America And How Sound Money Will Fix It,” and the discussion delved deep into the issues facing the American economy and the potential solutions he proposes.

The conversation spanned a wide range of critical topics, starting with Lepard’s central thesis: What exactly happened to America? 

He points to the increasing financialization of the country as a primary driver of the current problems. This means a shift away from productive industries and towards complex financial instruments, leading to instability and ultimately, a detachment from the real economy.

A key question raised was: How long can this system survive? Lepard doesn’t paint a rosy picture, suggesting that the current trajectory is unsustainable. He pinpoints interest as a core issue, arguing that artificially low interest rates have fueled malinvestment and distorted the market signals necessary for a healthy economy.

He also expressed concerns about the potential of losing control of the bond market, which could trigger a significant financial crisis.

Given his advocacy for sound money, the conversation naturally turned to precious metals. Lepard remains bullish on Gold, viewing it as a hedge against inflation and a store of value in uncertain times.

He also discussed his intriguing perspective on Bitcoin, explaining his rationale for its potential as a valuable asset. He even speculated on the possibility of sovereigns buying Bitcoin, a development that could significantly impact the cryptocurrency’s long-term value.

The podcast further explored conventional economic wisdom, questioning the commonly held belief that the constant growth of the money supply is necessary for economic growth. Lepard challenges this notion, arguing that it ultimately leads to inflation and erodes the purchasing power of the currency.

In a more unconventional tangent, the discussion even touched upon the meme cryptocurrency D.O.G.E. (Dogecoin) and the possibility of it somehow playing a role in a potential system reset.

While seemingly a lighthearted moment, it highlighted the growing distrust in traditional financial institutions and the search for alternative solutions, however unconventional they may seem.

Lepard also addressed the growing concentration of wealth in the hands of a few, a consequence of the financialized system he criticizes. This disparity, he argues, further exacerbates the existing problems and contributes to social and economic instability.

Despite the bleak outlook, Lepard offered a glimmer of hope, outlining a potential positive outcome.

He believes that a return to sound money principles, coupled with a focus on productive industries and responsible fiscal policies, can steer America back towards a more stable and prosperous future.

Ultimately, the podcast concluded with a call to action. Lepard’s one message to takeaway is a plea for individuals to educate themselves on the principles of sound money and to demand responsible governance from their elected officials.

 He believes that informed citizens are the key to driving the necessary changes and ensuring a more sustainable future for the American economy.

https://youtu.be/MbpR1VQO6-E

Iraq Economic News and Points to Ponder Thursday Afternoon 2-27-25

UN Commends Iraq's Efforts In Combating Corruption And Money Laundering

The United Nations Office on Drugs and Crime (UNODC) has praised Iraq's efforts in combating money laundering and organized crime, commending the Ministry of Interior's plans and actions to combat various types of crimes.

The director of the office in Iraq, Ali Al-Barir, said in a statement to the official newspaper that "there are many types of organized crime, such as drugs, terrorism, money laundering, corruption, and human trafficking," praising the measures taken by the Ministry of Interior, including the restructuring of its directorates specialized in combating drugs and organized crime.

He added that "Iraq received an American award last year in recognition of its efforts in combating human and drug trafficking, thanks to the high rate of interception and confiscation."

Al-Barir stressed that Iraq is making great efforts to combat money laundering and terrorist financing, noting that the continuation of these efforts will have a positive impact, and that the UN office will continue to support them.  https://www.radionawa.com/all-detail.aspx?jimare=41279

The Future Begins Now With The Transition To Comprehensive Digital Transformation

Samir Al-Nusairi   With steady steps, the Central Bank continues to implement the banking reform strategy, one of the main objectives of which is to achieve digital transformation in the banking sector, which the Central Bank began in 2016 with clear stages included in its first, second and third strategies.

During the past two years, cooperation between the Central Bank and the government, with the personal support and follow-up of the Prime Minister and the chairmanship of the Digital Transformation Committee, was an essential step to activate and accelerate the transformation to digital government and the transition from a cash economy to a digital economy,

focusing on developing payments within Iraq and using technology to improve financial inclusion, developing information technology, establishing digital banks, using artificial intelligence in banking services, and using modern technologies in loans, compliance, risk management, combating money laundering and terrorist financing, and combating banking fraud.

The results during 2023 and 2024 recorded a qualitative leap in the volume of transactions in electronic payment operations and the use of modern banking technologies, as the rate of digital transformation and electronic payment rose to 48.5% compared to 20% in the past years.

This is an indicator that confirms the success of the plans and procedures adopted to achieve a major transformation with a distinguished national effort for digital transformation and electronic payment.

This joint effort by the cadres of the Central Bank, the government, banks and electronic payment companies has clearly contributed to possessing an advanced infrastructure to implement and accommodate electronic payment tools and various financial services.

The banking reform has now entered the phase of transformation to digital banks, and the Central Bank is currently examining and auditing about 70 requests to license new digital banks according to the precise controls and conditions adopted by the Central Bank.

This constitutes a real and promising start for technical banking development in Iraq to bridge the technical gap with the countries of the world in this field. This facilitates the provision of smart banking services, reduces the chances of fraud and corruption, and provides important data on the nature of transactions, their control, and compliance.

Therefore, digital banks are a new stage of digital transformation and banking reform. We hope that the Central Bank will soon take the first step by licensing digital banks that show the results of the examination, audit and study that they are committed to the applicable controls and conditions.

In this context, and in confirmation of the Central Bank's strategy for digital transformation for the next two years, His Excellency the Governor of the Central Bank confirmed yesterday that the future of digital transformation in Iraq begins now and that the current stage is witnessing a major development in the electronic payment system by increasing the number of ATMs,

which exceeded 4,000 ATMs, the number of electronic cards issued exceeded 17 million cards, and the number of POS devices is about 63,000 devices.

The number of credit wallets has also increased, and the financial inclusion rate has increased to 40% after it was 20% two years ago. Iraqi banks are today witnessing qualitative transformations in their banking operations, especially with regard to future banks that will transform from traditional entities to smart digital platforms and issue digital financial identities that facilitate financial transactions without the need for banks.

The financial and banking system will witness the decline of paper currencies to be replaced by digital payments for central banks, and that the Central Bank is moving to create its own digital currency, to gradually replace the paper process as is happening in some central banks in the world,

as well as working to establish a data center in Iraq similar to the major centers in the world, as it is an indispensable part of the digital economy and the basis for artificial intelligence, applications, big data analysis and the Internet, and that the Central Bank of Iraq has begun steps in this direction. https://economy-news.net/content.php?id=53022

Governor Of The Central Bank Of Iraq: We Are Working To Launch An Iraqi Digital Currency
 
February 26, 2025   Baghdad/ Iraq Observer  The Governor of the Central Bank, Ali Al -Alaq, revealed today, Wednesday, the
establishment of a digital currency of the Central Bank to gradually replace the paper process.

"The financial and banking system will witness fundamental transformations, including the decline of paper currencies to be replaced by digital payments for central banks."

 He added, "The central bank is moving to create a bank's digital currency to gradually replace the paper process, as is taking place in some central banks in the world." Al -Alaq stressed, "We are seriously thinking about establishing a data center in Iraq and the bank, starting to move on this issue within the steps of digital transformation."    https://observeriraq.net/محافظ-البنك-المركزي-العراقي-نعمل-على-إ/   

Iraq Agrees With Emirates Islamic Bank To Provide Payment Services In Dirhams

Banks   Economy News – Baghdad   The Central Bank of Iraq announced, on Thursday, the signing of a banking agreement with Emirates Islamic Bank to exchange national expertise in the field of Islamic banking.

The Central Bank said in a statement received by "Al-Eqtisad News" that it signed "a banking agreement with Emirates Islamic Bank, which is considered one of the highest-rated Islamic banks, and its rating is (A+) according to the international Fitch agency."

He added that "thus, Emirates Islamic Bank is a distinctive addition to the banking relations that the Central Bank of Iraq has established with advanced regional and international banks in recent years."

He stressed that "the agreement includes joint cooperation on several axes, the most important of which is the axis of exchanging expertise in the field of developing the Islamic banking sector and providing payment services in the UAE dirham currency to Iraqi banks and expanding their correspondent accounts network."

The statement continued that the agreement includes "cooperation between Iraqi banks and Emirates Islamic Bank, under the supervision and support of the Central Bank of Iraq to formulate a mechanism that allows individual customers of Iraqi banks in the near future to invest (partially) in Islamic bonds issued by Emirates Islamic Bank or other issuers with a similar credit rating in the United Arab Emirates."

It is noteworthy that the Central Bank of Iraq announced in August of last year the start of a new phase of foreign transfer operations in a step aimed at enhancing the diversity of currencies and facilitating international transfer operations. This announcement came after reaching an agreement on the mechanisms for regulating dealings in the euro, the Chinese yuan, the Indian rupee, the UAE dirham, and other international currencies.   https://economy-news.net/content.php?id=53030

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

Seeds of Wisdom RV and Economic Updates Thursday Afternoon 2-27-25

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SOCIAL SECURITY ANNOUNCES EXPEDITED RETROACTIVE PAYMENTS AND HIGHER MONTHLY BENEFITS FOR MILLIONS – ACTIONS SUPPORT THE SOCIAL SECURITY FAIRNESS ACT

Today, the Social Security Administration announced it is immediately beginning to pay retroactive benefits and will increase monthly benefit payments to people whose benefits have been affected by the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO).

These provisions reduced or eliminated the Social Security benefits for over 3.2 million people who receive a pension based on work that was not covered by Social Security (a “non-covered pension”) because they did not pay Social Security taxes.

The Social Security Fairness Act ends WEP and GPO.

“Social Security’s aggressive schedule to start issuing retroactive payments in February and increase monthly benefit payments beginning in April supports President Trump’s priority to implement the Social Security Fairness Act as quickly as possible,” said Lee Dudek, Acting Commissioner of Social Security. “The agency’s original estimate of taking a year or more now will only apply to complex cases that cannot be processed by automation. The American people deserve to get their due benefits as quickly as possible.”

People who will benefit from the new law include some teachers, firefighters, and police officers in many states; federal employees covered by the Civil Service Retirement System; and people whose work had been covered by a foreign social security system.

Many beneficiaries will be due a retroactive payment because the WEP and GPO offset no longer apply as of January 2024. Most people will receive their one-time retroactive payment by the end of March, which will be deposited into their bank account on record with Social Security.

Many of these people will also receive higher monthly benefits, which will first be reflected in the benefit payment they receive in April. Depending on factors such as the type of Social Security benefit received and the amount of the person’s pension, the change in payment amount will vary from person to person.

Anyone whose monthly benefit is adjusted, or who will get a retroactive payment, will receive a mailed notice from Social Security explaining the benefit change or retroactive payment. Most people will receive their retroactive payment two to three weeks before they receive their notice in the mail, because the President understands how important it is to pay people what they are due right away.

Social Security is expediting payments using automation and will continue to handle many complex cases that must be done manually, on an individual case-by-case basis. Those complex cases will take additional time to update the beneficiary record and pay the correct benefits.

Social Security urges beneficiaries to wait until April to ask about the status of their retroactive payment, since these payments will process incrementally into March. 

Since the new monthly payment amount will begin with the April payment, beneficiaries should wait until after receiving their April payment, before contacting Social Security with questions about their monthly benefit amount.

Visit the agency’s Social Security Fairness Act webpage to learn more and stay up to date on its progress. Visitors can subscribe to be alerted when the webpage is updated.

@ Newshounds News™

Source:  SSA Blog

Social Security Fairness Act:  Link

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DEMOCRAT LAWMAKER INTRODUCES BILL BANNING OFFICIALS FROM LAUNCHING MEME COINS AFTER TRUMP TOKEN

▪️The MEME Act would require Trump to return profits from his meme coin sales and enable investors to sue officials for losses related to endorsed cryptocurrencies.

▪️The bill faces significant challenges in the Republican-controlled Congress but serves as a symbolic stance against what Liccardo perceives as unethical behavior.

▪️Regulatory uncertainty persists as SEC official Hester Peirce claims most meme coins fall outside their jurisdiction, suggesting CFTC or lawmakers should establish clearer oversight frameworks.

Newly elected Democrat Sam Liccardo, representing Silicon Valley, is introducing legislation that would block government officials from launching cryptocurrencies such as meme coins.

He noted that the move was never part of his plan when he ran for office, but after the president launched a meme coin last month, he felt a response was needed.

US President Donald Trump released a meme coin, TRUMP, just days before assuming office. Not long after, his wife Melania launched hers, called MELANIA, on January 19. Both tokens rose quickly but collapsed just as fast. The introduction of these meme coins has led to criticism. Liccardo noted that even Trump’s crypto-supporting enthusiasts found the move unappealing.

Liccardo’s bill, called the Modern Emoluments and Malfeasance Enforcement (MEME) Act, seeks to prohibit the president, members of Congress, and other high-ranking officials—along with their families—from issuing or endorsing cryptocurrencies, stocks, or other financial securities.

According to the draft, the bill also requires Trump to return any money he made from selling his meme coin. Moreover, the bill would allow investors who lost money on a meme coin backed by a public official to sue to recover their losses.

Despite the bill’s strong stance, it faces an uphill battle in the Republican-controlled Congress. However, Liccardo sees it as a symbolic stand against corruption and a potential legislative tool for the future if Democrats regain power.

Regulatory Uncertainty Surrounds Meme Coins

One of the developers behind Trump’s meme coin, Hayden Davis, has a history of controversial crypto projects, including one linked to a corruption probe involving Argentina’s President Javier Milei.

Davis himself has described meme coins as a rigged game, calling the industry an unregulated casino that rewards a small group at the expense of retail investors.

Liccardo argues that existing laws fail to address the ethical and financial risks posed by politicians entering the crypto space. He said,

“That behavior is so self-evidently unethical that it raises the question why isn’t there a clear enough prohibition.”

He added that having a way to enforce the rules is important, and allowing people to sue helps ensure accountability. Aside from Liccardo’s bill, other proposals related to meme coins have also been introduced.

On February 20, US Democratic Senator Catherine Cortez Masto proposed an amendment to resolution S. Con. Res. 7, seeking to prevent federal employees and officials from launching, endorsing, or profiting from digital tokens connected to investments by the Chinese Communist Party.

Hester Peirce, head of the US Securities and Exchange Commission’s digital asset division, said most meme coins are beyond the SEC’s authority, noting that their regulation depends on the specifics of each coin. She suggested that lawmakers or agencies like the Commodity Futures Trading Commission (CFTC) should take responsibility for overseeing them.

@ Newshounds News™

Source:  CoinSpeaker

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Iraq Economic News and Points to Ponder Thursday AM 2-27-25

Governor Of The Central Bank Of Iraq: We Are Working To Launch An Iraqi Digital Currency
 
February 26, 2025  Baghdad/ Iraq Observer  The Governor of the Central Bank, Ali Al -Alaq, revealed today, Wednesday, the establishment of a digital currency of the Central Bank to gradually replace the paper process.
 
"The financial and banking system will witness fundamental transformations, including the decline of paper currencies to be replaced by digital payments for central banks."

 He added, "The central bank is moving to create a bank's digital currency to gradually replace the paper process, as is taking place in some central banks in the world."

Al -Alaq stressed, "We are seriously thinking about establishing a data center in Iraq and the bank, starting to move on this issue within the steps of digital transformation."   https://observeriraq.net/محافظ-البنك-المركزي-العراقي-نعمل-على-إ/   

One Million Bank Cards In Iraq.. And The Central Bank Supports Electronic Wallets

Time: 2025/02/26 Read: 1,980 times   {Economic: Al Furat News} The Governor of the Central Bank, Ali Al-Alaq, announced today, Wednesday, the achievement of tangible progress in the field of financial inclusion and electronic payment in the country, stressing that the number of bank cards issued reached about 17 million cards throughout Iraq.

Al-Alaq said in a speech during the ninth annual exhibition and conference on finance and banking services in Iraq: “We succeeded in raising the rate of financial inclusion to more than 40%, which reflects the expansion of banking services and their access to wider segments of citizens.”

He pointed out that "the Central Bank has achieved international integration by linking the Iraqi electronic payment system to global networks, which contributes to enhancing cross-border financial transactions and facilitating digital payment operations."

Al-Alaq added: “We directly supported the licensing and operation of electronic wallets via phone, which enabled more citizens to benefit from digital banking services easily and safely.”

He also revealed that "the number of permanent electronic wallets has reached 1.2 million wallets," stressing that "these achievements in the field of electronic payments represent a fundamental shift in the Iraqi financial system," and contribute to strengthening the financial infrastructure and achieving digital transformation."  LINK

Rafidain Bank Affirms Its Commitment To Developing The Financial Sector And Enhancing Digital Transformation

Banks  Economy News – Baghdad  Rafidain Bank affirmed, on Wednesday, its commitment to developing the financial and banking sector and enhancing its role in supporting digital transformation and financial inclusion.

A statement by the bank, seen by "Al-Eqtisad News", stated that "as part of its ambitious strategy to enhance its leading position in the Iraqi banking environment, Rafidain Bank participated in the 9th Annual Exhibition and Conference on Finance and Banking Services in Iraq", stressing "its commitment to developing the financial and banking sector and enhancing its role in supporting digital transformation and financial inclusion".

The statement added that "the conference witnessed a wide presence from various financial and banking institutions, in addition to an elite group of experts in digital technology and electronic services, as its activities focused on the importance of digital transformation and the application of electronic payment technologies as a means of facilitating access to banking services, which contributes to enhancing financial and economic stability in light of the current challenges".

It pointed out that "the bank reviewed the latest digital banking solutions it provides, through its special pavilion at the exhibition, where it provided electronic payment services through banking applications, in addition to innovative solutions that enable individuals and companies to conduct their financial transactions easily and safely",

indicating that "this comes in line with the bank's orientation towards renewing its banking identity under the slogan "Iraq is renewed", which reflects its ongoing commitment to developing its services according to the latest international banking standards".

The statement stressed that "the bank focused on the importance of enhancing financial inclusion by enabling citizens in cities and rural areas to access digital banking services, which contributes to stimulating economic activity and supporting sustainable development."

The statement continued, "On the sidelines of the conference, participants exchanged experiences on the future of digital transformation in the banking sector, and discussed ways to enhance cooperation between banks and financial institutions to develop the electronic payment environment and spread financial awareness among citizens, in a way that supports building a more advanced and comprehensive banking system in Iraq."   https://economy-news.net/content.php?id=53004

The Association Of Banks Announces A New Project To Facilitate Financial Transfers Within Iraq Electronically

02/26/2025  Mawazine News – Economy  The Iraqi Private Banks Association announced, on Wednesday, a new project to facilitate financial transfers within Iraq electronically, while indicating that efforts are being made to facilitate the transfer of funds through open banking.

The Executive Director of the Iraqi Private Banks Association, Ali Tariq, said in a statement to the official agency: "The service of transferring electronic financial accounts between banks or cards is currently not available in Iraq, and therefore the Central Bank is working on developing a special platform based on the open banking system, which will greatly facilitate money transfers within the country via mobile phones or websites and allow the transfer of funds from one bank account to another and from one card to another."

He added that "electronic payment devices are witnessing continuous development, especially with the presence of the national switch in the Central Bank of Iraq, although some cards and payment devices still rely on specific systems.

" Tariq stressed that "there is a great focus on developing electronic payment systems in Iraq," noting that "the decisions of the Council of Ministers and the Central Bank aim to stimulate the use of electronic payment, and have led to clear development over the past two years, with expectations of greater growth in the future."     https://www.mawazin.net/Details.aspx?jimare=259867

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

Seeds of Wisdom RV and Economic Updates Thursday Morning 2-27-25

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RIPPLE PARTNERS WITH BDACS FOR XRP, RLUSD CUSTODY IN SOUTH KOREA

Ripple Labs and South Korean custodian BDACS partner to offer institutional-grade custody for XRP, RLUSD and other crypto assets.

Ripple Labs has signed a strategic partnership with BDACS, a South Korean digital asset custody provider, to support institutional custody for XRP and Ripple USD.

The partnership, announced on Feb. 26, will enable BDACS to integrate Ripple Custody, the company’s institutional crypto and digital asset custody solution, to safeguard XRP, Ripple USD (RLUSD) and other crypto assets for financial institutions in South Korea.

Ripple president Monica Long highlighted the importance of institutional-grade custody amid growing enterprise interest in crypto.

“South Korea is gearing up for a wave of institutional crypto adoption — very excited for Ripple Custody to plant another flag in APAC with BDACS for XRP and RLUSD,” Long said in a statement.

Ripple aligns with South Korean regulatory requirement

According to Ripple, the partnership aligns with the roadmap for regulatory approval of institutional participation set by South Korea’s Financial Services Commission (FSC). The company stated:

“This partnership will support the growth of XRPL developers and its ecosystem, expand the usability of Ripple’s stablecoin (RLUSD), and leverage synergies with Busan, Korea’s blockchain regulation-free zone.” BDACS CEO Harry Ryoo said his firm is committed to ensuring a secure infrastructure for institutional crypto adoption.

“BDACS will provide a secure and reliable custody service to support Ripple’s pioneering blockchain initiatives. Ultimately, this partnership will enable both companies to enhance and expand the digital asset ecosystem,” Ryoo said.

Ripple Custody said it expects the total amount of custodied cryptocurrencies to reach $16 trillion by 2030.

Alongside the partnership with the South Korean crypto custodian, Ripple Labs unveiled a new roadmap for building an institutional decentralized finance (DeFi) ecosystem on the XRP Ledger blockchain network.

XRP Ledger’s roadmap builds on top of existing infrastructure, including price oracles and an automated market maker.

@ Newshounds News™

Source:  CoinTelegraph

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RIPPLE OUTLINES FUTURE DEVELOPMENTS TO INSTITUTIONAL DEFI ON XRP LEDGER

Ripple has announced upcoming features for the XRP Ledger (XRPL) aimed at enhancing institutional decentralized finance (DeFi).

Key developments include expanded compliance functions, a new lending protocol that integrates with Ripple Payments and decentralized exchanges, and the introduction of Multi-Purpose Tokens (MPTs) for tokenized assets.

Additionally, the XRPL will see the launch of a permissioned decentralized exchange (DEX) and credentialing systems to facilitate secure trading environments.

These innovations are set to enhance programmability and streamline institutional onboarding, further positioning XRPL as a leader in regulated onchain finance.

@ Newshounds News™

Source:  Bitcoin News

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