Seeds of Wisdom RV and Economic Updates Tuesday Evening 3-04-25

Good Evening Dinar Recaps,

BRICS: US TO FORGE TRADE DEAL AS NEW NATION FEARS TARIFF THREAT

Amid the ongoing tensions with the BRICS group, the US is set to forge a new trade deal as a new nation comes forward with concerns over the growing threat of tariffs.

Indeed, since his return to the White House, US President Donald Trump has embraced increased import taxes as an aggressive policy to balance out trade.

The efforts have drawn both criticism and concern from the global market. Specifically, a host of nations have expressed worry that the action could lead to a trade war.

Now, that fear may be leading geopolitical alignment to take place on a global scale.

US to Forge New Trade Agreement as BRICS, Canada, and Mexico Face Tariffs

The BRICS economic alliance and the United States are engaged in a notable faceoff. The latter promised to issue 150% tariffs on the collective, citing its de-dollarization as the reason. In response, the bloc’s 2025 chairmanship holder, Brazil, has continued to lean into the necessity of ditching the greenback in global trade.

Both sides have only encouraged continued concerns regarding geopolitical tensions. Moreover, amid the BRICS confrontation, the US has forged a new trade deal as another nation expresses concern over impending Trump tariff threats. The US President reissued those import taxes on Canada and Mexico after pausing the effort last month.

According to a new report, the United States and the UK are set to iron out the details of a new trade agreement. Specifically, a visit from Prime Minister Keir Starmer has seen both sides commit to the new deal. Its purpose looks to be balancing trade and thus avoiding tariffs on the European nation.

After the meeting, Trump expressed his hopes for a “great trade agreement” with the UK. “We’re going to have a great trade agreement, one way or another,” Starmer said. “We’re going to end up with a very good trade agreement for both countries, and we are working on that as we speak.”

@ Newshounds News™

Source:  Watcher Guru

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SEC AGREES TO DROP LAWSUIT AGAINST CUMBERLAND DRW, SAYS FIRM

The SEC sued Cumberland DRW in October, claiming it operated as an unregistered securities dealer in handling more than $2 billion in crypto assets.

The US Securities and Exchange Commission will dismiss its case against the Chicago-based Cumberland DRW, the crypto trading firm says.

“Today we signed a joint filing to be made with the Securities and Exchange Commission (SEC) dismissing its case against Cumberland DRW,” Cumberland wrote in a March 4 X post.

Cumberland said the filing was agreed in principle between Cumberland DRW and SEC staff on Feb. 20 and is currently awaiting the agency’s approval.

It’s the latest crypto-related lawsuit the SEC has agreed to drop. It has previously dropped cases against crypto exchanges Coinbase and Kraken, along with crypto firm Consensys.

The regulator has also recently announced it had dropped its investigation into non-fungible token (NFT) companies Yuga Labs and OpenSea, and crypto exchanges Gemini and Uniswap Labs.

“We look forward to continuing our dialogue with the SEC to help shape a future where technological advancements and regulatory clarity go hand in hand,” Cumberland added.

The SEC sued Cumberland DRW on Oct. 10, alleging a single charge of operating as an unregistered securities dealer for more than $2 billion in crypto assets.

The regulator claimed Cumberland acted as an unregistered dealer since March 2018 by buying and selling crypto it deemed to be securities.

The SEC also claimed that five of the tokens that Cumberland handled were securities, including  POL. SOL, ATOM. ALGO, and FIL.

The agency was seeking permanent injunctive relief, disgorgement of ill-gotten gains, prejudgment interest and civil penalties.

Cumberland argued it had registered as a dealer-broker in 2019 and was hit with the suit despite engaging in “five years of good-faith discussions” with the SEC, adding it was just “the latest target” of SEC’s “enforcement-first approach to stifling innovation.”

Crypto exchange Coinbase recently filed a request under the Freedom of Information Act (FOIA) to the SEC seeking to discover how much the SEC spent on enforcement action against crypto firms.

@ Newshounds News™

Source:  CoinTelegraph

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Iraq Economic News and Points to Ponder Tuesday Afternoon 3-4-25

OPEC Decides To Increase Iraq's Share Of Oil Production Until The End Of This Year

Tuesday 04 March 2025 | Economic Number of readings: 200 Baghdad / NINA / The OPEC+ alliance countries agreed today, Tuesday, to increase Iraq's share of oil production to reach four million and 110 thousand barrels per day by the end of this year.

The group of eight member countries of the OPEC+ alliance, namely Iraq, Saudi Arabia, Russia, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman, called for a review of global market conditions and future expectations.

The alliance countries agreed to renew their commitment to the return of the voluntary reduced quantities of crude oil production, which were previously announced in April and November 2023, by the beginning of next month.

According to the agreement, Iraq's share for next April will increase by 12 thousand barrels, so that production will be 4.012 million barrels per day, and in May it will increase by 12 thousand barrels as well, so that production will be 4.024 million barrels per day, and in December it will reach 4.110 million barrels per day.

Iraq's share will rise in September and until December 2026 to more than 4.220 million barrels per day.

It is noteworthy that the OPEC+ alliance is implementing an official cut of two million barrels per day, which are scheduled to be extended until the end of next year 2026.

In April 2023, the OPEC+ alliance announced a voluntary cut of 1.65 million barrels per day, which is scheduled to continue until the end of next year, while the alliance announced another cut of 2.2 million barrels per day in November 2023, which will continue until the end of this March. / End https://ninanews.com/Website/News/Details?key=1189940

Oil Prices Fall To Lowest Level In 12 Weeks

Tuesday 04 March 2025 07:54 | Economic  Number of readings: 252  Baghdad / NINA / Oil prices fell by more than 2 percent at the settlement at the end of Monday's trading.  Brent crude futures fell $1.19, or 1.6 percent, to settle at $71.62 per barrel. "

West Texas Intermediate crude futures also fell about $1.39, or about two percent, to reach $68.37 at the settlement."  This is the lowest level for the two benchmark crudes since December 9. "

Earlier, the OPEC+ alliance reported a gradual and flexible return to voluntary production adjustments of 2.2 million barrels per day, starting from April 1, 2025. / End https://ninanews.com/Website/News/Details?key=1189869

The Finance Committee Expects The Budget Tables To Reach Parliament In The Middle Of This Month

Buratha News Agency1392025-03-04  The Finance Committee of the House of Representatives expected, on Tuesday, that the budget schedules will reach the parliament by the middle of this month, stressing the importance of completing job promotions after the parliament approves the schedules related to them.

The head of the Finance Committee, Atwan Al-Atwani, explained that stopping deletions and innovations in state institutions came based on the budget provisions, which included stopping appointments and confiscating job grades from institutions and transferring them to the Ministry of Finance, without using them in deletions and innovations.

He pointed out that this procedure caused a problem in which institutions were unable to benefit from these degrees to appoint graduates or fill vacant positions.

Al-Atwani added: “We are waiting for the budget tables to reach Parliament, as the budget does not allow for appointments, whether on a daily wage, contract basis, or on a permanent basis. However, contracted employees receive their salaries from the government through ministries and institutions, and therefore their confirmation is not considered a new appointment, but rather their inclusion in the job description.”

He pointed out that the Finance Committee is currently communicating with the Ministry of Finance and is awaiting a letter from the State Council to clarify this concept, stressing that there is a clear difference between appointment and permanent employment, calling for the permanent employment of contracted employees within the job description in accordance with the legal frameworks.

As for promotions, Al-Atwani stressed the need to proceed with them after the House of Representatives approves the relevant schedules, expecting the government to send the budget schedules by the middle of this month or before the end of it, which will contribute to addressing these important files.   https://burathanews.com/arabic/economic/457129

The Dollar Rises Again Against The Dinar In Baghdad

Stock Exchange   Economy News – Baghdad  The US dollar exchange rate rose this morning, Tuesday, in Baghdad markets.

The dollar price witnessed a rise in the Al-Kifah and Al-Harithiya stock exchanges, recording 149,250 dinars for every 100 dollars, while yesterday morning, Monday, it recorded 147,700 dinars for every 100 dollars.

The selling prices in the exchange shops in the local markets in Baghdad recorded an increase, as the selling price reached 150,250 Iraqi dinars for 100 dollars, and the purchase price reached 148,250 dinars for 100 dollars.  https://economy-news.net/content.php?id=53124

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

Seeds of Wisdom RV and Economic Updates Tuesday Morning 3-04-25

Good Morning Dinar Recaps,

SEC: MEME COINS ARE NOT SECURITIES. MUSK: THEY’RE LIKE A CASINO

Last week, four different views of meme coins were put forward. On Thursday the US Securities and Exchange Commission (SEC) provided staff guidance that meme coins would not be considered securities. SEC Commissioner Caroline Crenshaw dissented.

The following day, Joe Rogan posted an interview with Elon Musk. Rogan thinks meme coin pump and dumps should be regulated, but Musk think’s meme coins are okay provided people treat them as a bit of fun and don’t risk too much.

Unsurprisingly, the Rogan – Musk excerpt is more entertaining.

“The whole meme coin thing is bananas,” observed Rogan. “It is so bananas that people dump real money into these coins and then you could just pump them up and sell them.”

“It’s like a casino or something,” Elon Musk responded, comparing it to “the greater fools theory and musical chairs. Whoever’s the last to sit down loses.”

To which Rogan replied, “And somehow or other it’s still legal”.

“If you expect to win at a casino, you’re being a fool,” answered Musk. “At the risk of saying something bold and outrageous, don’t bet the farm on a meme coin.”

Rogan spoke about pump and dumps, where people often hope they are the one who will dump, but they end up on the losing end. He repeated, “It’s just weird that it’s legal still”.

Musk responded that people lose money at casinos. Rogan’s view is that pump and dumps make meme coins different and observed that you could run “a real pyramid scheme”.

With that context, let’s turn to the SEC’s new guidance on meme coins. By saying most meme coins are not securities, the SEC also conveniently sidesteps a potentially awkward position regarding the $TRUMP meme coin.

The SEC’s position on meme coins

Following the change in administration, the SEC has swiftly dropped many of its outstanding cases and investigations into major crypto firms, where the allegations revolved around classifying most cryptocurrencies as securities (rather than outright fraud). But meme coins are amongst the first pieces of guidance provided.

Here’s the core paragraph on meme coins:

“Meme coins typically are purchased for entertainment, social interaction, and cultural purposes, and their value is driven primarily by market demand and speculation. In this regard, meme coins are akin to collectibles.”

“Meme coins also typically have limited or no use or functionality. Given the speculative nature of meme coins, they tend to experience significant market price volatility, and often are accompanied by statements regarding their risks and lack of utility, other than for entertainment or other non-functional purposes”

The key legal aspect is whether a meme coin is sold as part of an “investment contract”, the so-called Howey test.

The SEC continued,

“The offer and sale of meme coins does not involve an investment in an enterprise nor is it undertaken with a reasonable expectation of profits to be derived from the entrepreneurial or managerial efforts of others.”

It says that the price movement is the function of speculation and “collective sentiment” rather than any efforts of a third party. Again it compares them to collectibles.

That’s not to say there’s a free pass for fraudulent behavior, because the SEC highlights that it’s possible for others, most likely the Department of Justice, to pursue bad actors.

But for now, it certainly seems like it’s a situation of buyer beware.

Commissioner Crenshaw dissents

Democrat Commissioner Crenshaw disagrees. Her concern is that the new meme coin definition put forward by the SEC doesn’t have a foundation in law.

She wrote,

“The lack of a useful definition alone makes the value of this guidance questionable, except perhaps as a roadmap for crypto enterprises looking to evade oversight by labeling themselves as a meme coin.”

Commissioner Crenshaw believes that other crypto issuers will downplay the role of managerial efforts in order to fit into the meme coin classification and escape oversight.

She asserts that most meme coins rely on managerial efforts, whether it’s structuring offerings to limit supply or via buybacks or burning. The Commissioner highlighted the prevalence of manipulation through pump-and-dumps and rug pulls. And she noted that getting a listing on an exchange involves managerial effort.

Apart from meme coins, the Commissioner also has reservations about Crypto 2.0. While she recognizes the intent to provide more guidance on what is or is not a security, she’s concerned that the withdrawal from many cases before providing that guidance raises many questions. These include,

“How can we pursue fraudulent conduct in this space while casting doubt on our regulatory jurisdiction? Are we eroding our ability to police fraudulent Ponzi schemes? Are we poised to give special treatment to crypto assets over traditional assets, or even other emerging assets?”

@ Newshounds News™

Source:  Ledger Insights

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JUST IN: Trump Nominated For Nobel Peace Prize

President Donald Trump has been nominated for the Nobel Peace Prize, with Rep. Darrell Issa (R-CA) making the announcement on X Monday morning. “Today I will nominate @realDonaldTrump for the Nobel Peace Prize. No one deserves it more,” Issa wrote in a post that quickly gained traction online.

The decision to nominate Trump follows a tense meeting last week in which he reportedly asked Zelenskyy to leave the Oval Office after a fiery exchange over U.S. military aid.

Trump later stated that Zelenskyy had “disrespected” the United States and suggested that Ukraine was using America’s involvement as leverage rather than genuinely seeking peace.

Trump’s nomination for the Nobel Peace Prize will likely serve as a symbolic nod to his non-interventionist stance, particularly as his campaign for a second term continues to emphasize an “America First” approach.

A spokesperson for Issa also highlighted Trump’s endeavors to foster peace in the Middle East. “Congressman Issa recently led a Congressional delegation to four Middle East nations—he observed first-hand and from several heads of state that the spirit of peace and moving away from conflict is real and multilateral,” said Jonathan Wilcox, Issa’s deputy chief of staff and communications director, in remarks to The Hill.

Wilcox added, “From the time of his election and after being sworn in, President Trump has inspired and promoted the cause of peace—and in a way we have not heard in many years.

His advocacy is an aspiration of a world without war, and we are seeing this come into focus in several regions of the world today – not just one.”

Rep. Issa isn’t the only one who feels this way. Secretary of State Marco Rubio robustly supported President Trump’s strategy for brokering a peace agreement between Ukraine and Russia during a Sunday interview.

Rubio, speaking on ABC News’s “This Week,” suggested that if Trump were a Democrat, his efforts would likely receive widespread acclaim.

Amid a heated discussion with host George Stephanopoulos, Rubio said, “Shouldn’t we all be happy that we have a president who’s trying to stop wars and prevent them instead of start them?”

“I just don’t get it. I really don’t, other than the fact that it’s Donald J. Trump,” Rubio said. “If this was a Democrat that was doing this, everyone would be saying, ‘Well, he’s on his way to the Nobel Peace Prize.’ This is absurd.”

“We are trying to end a war,” Rubio explained. “You cannot end a war unless both sides come to the table, starting with the Russians. And that, that is the point the president has made. And we have to do whatever we can to try to bring them to the table to see if it’s even possible.”

Trump has been nominated for the Nobel Peace Prize multiple times. In 2018, Norwegian Parliament member Christian Tybring-Gjedde nominated Trump for his role in facilitating peace talks between North and South Korea.

Two years later, in 2020, Tybring-Gjedde again put Trump’s name forward, this time citing his efforts in brokering the Abraham Accords, which normalized diplomatic relations between Israel and the United Arab Emirates.

In 2021, Laura Huhtasaari, a member of Finland’s Parliament, also nominated Trump, recognizing his efforts to end prolonged conflicts and promote dialogue. Most recently, in 2024, U.S. Congresswoman Claudia Tenney nominated Trump for his role in expanding the Abraham Accords, which facilitated diplomatic agreements between Israel, Bahrain, Morocco, Sudan, and the United Arab Emirates.

The most recent U.S. president to win the Nobel Peace Prize was Barack Obama in 2009.

@ Newshounds News™

Source:  Trending Politics News

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COINBASE DEMANDS SEC REVEAL US TAXPAYER COST OF GARY GENSLER’S AGGRESSIVE CRYPTO ENFORCEMENT

Coinbase questions SEC's spending on crypto oversight as it seeks transparency through FOIA.

Coinbase is requesting a record of how much the Securities and Exchange Commission spent on enforcement actions under former Chair Gary Gensler.

Chief Legal Officer Paul Grewal shared that the company submitted a Freedom of Information Act request seeking data on employee hours, contractor expenses, and other line items tied to what he described as the SEC’s “war on crypto.”

His statements pointed to investigations of Coinbase, Gemini, and other companies, along with the broader impact on Americans’ jobs and technological competitiveness.

Grewal stated,

“We know the previous @SECgov’s regulation-by-enforcement approach cost Americans innovation, global leadership, and jobs, but how much did it cost in taxpayer dollars?”

The FOIA filing asks for documents detailing the number of enforcement actions launched against digital asset entities, the associated costs of those efforts, and the staffing resources allocated to them.

Coinbase also wants information on the unit previously called the “Crypto Assets and Cyber Unit,” requesting clarity on that group’s budget, staff headcount, and total compensation. 

According to Grewal, the intention is to reveal how taxpayer funds were used to support what he characterizes as aggressive oversight without formal rulemaking.

The SEC’s strategy under Gensler frequently relied on enforcement actions instead of newly drafted regulations, prompting pushback from several crypto firms. Coinbase’s request comes after the agency dropped its lawsuit against the exchange in late February, citing a broader pivot in its regulatory approach.

Grewal further noted that the company would continue pursuing greater transparency, suggesting that any forthcoming documents could expose the extent to which enforcement-based tactics shaped policy decisions.

Grewal emphasized Coinbase’s commitment to this issue, stating:

“We’ll never stop fighting for government transparency on behalf of our customers and this industry. It may take time to get the full picture, but I think we’ve shown that we will do what it takes for as long as it takes.”

Gemini’s Winklevoss twins have also criticized the SEC’s approach, pointing to legal fees when that agency dropped its investigation into their platform. Coinbase’s filing signals a broader demand for accountability following similar calls from other industry participants.

The 17-point FOIA request may provide unprecedented visibility into the SEC’s internal allocation of resources toward crypto enforcement during a contentious period for the industry.

The SEC’s recent shift includes dismissing some cases against crypto firms and declaring memecoins are not securities while forming a new task force to establish more explicit guidance. Coinbase’s FOIA submission indicates that clarity alone may not resolve existing grievances if the costs incurred remain obscured.

Grewal emphasized that the exchange is prepared to wait through the entire FOIA process to secure the data it believes could help the public understand how government resources were allocated when the SEC targeted digital asset businesses.

@ Newshounds News™

Source:  CryptoSlate

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“Tidbits From TNT” Tuesday Morning 3-4-2025

TNT:

Tishwash:  MP: Washington directly supervises the financial system in Iraq

Representative Mukhtar al-Moussawi confirmed today, Monday, that the United States directly supervises the financial system in Iraq, and is aware of the entire movement of money.
Al-Moussawi explained to Al-Maalouma that "the United States directly supervises the financial system in Iraq, and is fully aware of the movement of funds and exiting the country, which gives it broad economic influence that affects the financial decisions of the Iraqi government.

Regarding the security official, Al-Moussawi said that "Iraq has recovered in terms of security and has become able to protect its lands from terrorist attacks, thanks to the development of the capabilities of the armed forces and the Popular Mobilization Forces," ruling out "the possibility that Washington will use the ISIS terrorist organization card again, given the expected failure of such attempts in the face of the high security readiness enjoyed by the Iraqi military apparatuses.

" Al-Moussawi criticized "some parties that promote the possibility of the return of the threat of the terrorist organization, and an attempt to repeat the 2014 scenario," stressing that "the security forces and the Popular Mobilization Forces are ready to thwart any terrorist activity that may target the country."

According to observers, the United States is playing its suspicious role in Iraq, whether through economic intervention or waving the security card, which calls for a firm national position to end its guardianship and restore full autonomy   link

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Tishwash:  Investment opportunities are expanding.. FAO is preparing to transform into the largest industrial city in the Middle East

The Ministry of Industry and Minerals revealed plans on Monday to establish giant industrial projects in the city of Al-Faw, which will make it one of the largest industrial cities in the Middle East, as part of the Strategic Development Road project.  

The Deputy Chairman of the Industrial Cities Authority at the Ministry, Riyadh Jassim Kazim, said in a statement to the official newspaper that "the technical designs for the project will be completed soon, as work is proceeding according to well-studied plans, with the completion of the initial designs and the addition of some modifications to ensure the project is implemented in the best possible way."  

He explained that "the development road will transform Iraq into a pivotal commercial center linking the East and the West through advanced industrial cities extending from Al-Faw to the Turkish border," noting that Al-Faw city will include giant industrial projects including petrochemical plants, power stations, water desalination and liquefied gas facilities, in addition to residential and tourism projects, which will contribute to stimulating trade exchange and creating more than one million job opportunities.  

Kazem also stressed that the project will contribute to reducing the time it takes to transport goods from China to Europe to less than 22 days, which will enhance Iraq's position as a global logistics center.  

He pointed out that the preparation of the project's designs faced some obstacles, such as conflicts on the road's path with agricultural and economic projects, but coordination was made with local governments and those conflicts were removed, which allowed the preparation of the final technical designs for the project.  

He concluded by saying that "the development road will be a fundamental pillar in diversifying the Iraqi economy and reducing dependence on oil, so that Iraq becomes a pivotal part of the international trade map, benefiting from its modern infrastructure and its ability to connect continents." link

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Tishwash:  Sanctions and mistrust.. How will the Iraqi digital currency be born?

Why don't we develop our systems?

Financial and banking expert Mustafa Hantoush confirmed that talking about launching an Iraqi electronic currency at the present time is premature, in light of a banking system that suffers from structural problems and weak infrastructure.

He explained to “Jarida Platform” that “the culture of electronic payment in Iraq is still immature, and unless the government intervenes and imposes the adoption of electronic payment in government departments, we will not witness any real development in this field.”

Hantoush added that “Iraq does not have an integrated internal transfer system and relies on international systems such as Visa and MasterCard, which makes it a priority to develop the national switchboard, enhance the electronic payment infrastructure, and spread the culture of digital payment among citizens.” He pointed out that “electronic payment, in essence, depends on the presence of funds deposited in banks and their electronic transfer instead of direct cash exchange, which requires a strong infrastructure and broad confidence in the banking system.”

Hantoush stressed that “even major countries such as the United States, Europe and China have not yet been able to develop integrated electronic currencies due to fears of electronic breaches and weak cybersecurity systems,” wondering about the extent to which Iraq, with its current banking system, can achieve this.

He added, "Talk about an Iraqi electronic currency does not match the reality of Iraqi banks, which suffer from sanctions, the absence of their real role in the market, and the presence of a large percentage of money circulating outside the banking system, in addition to the lack of trust in banking institutions."

He concluded by saying, “The Central Bank still relies on old evaluation mechanisms, and the Islamic banking system has not witnessed real development in Iraq, which makes the priority now to build an integrated banking system, enhance confidence in it, and develop its electronic infrastructure before thinking about launching an electronic currency.” link

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Mot:  . Maybeeeee -- This Week!!! – siigghhhhhhh 

Mot:  Earl has a “Big Mouth” 

MilitiaMan & Crew-Iraq Dinar News-Major Transactions-USD Control-Crypto WDC on 7th-Gold-Oil-IMF-Digital Currency

MilitiaMan & Crew-Iraq Dinar News-Major Transactions-USD Control-Crypto WDC on 7th-Gold-Oil-IMF-Digital Currency

3-3-2025

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=pr9THIca0Vw

Seeds of Wisdom RV and Economic Updates Monday Evening 3-03-25

Good Evening Dinar Recaps,

BRICS: BRAZIL REITERATES NEED TO END US DOLLAR, WILL 150% TARIFFS FOLLOW?

The ongoing tension between the global south and west has been a key matter of geopolitical uncertainty. That may only take a step forward as the BRICS 2025 president, Brazil, has reiterated its need to end the US dollar as 150% tariffs loom large over the nation.

Speaking on the alliance’s operations, Brazil president Luiz Inacio Lula Da Silva noted that the group will not cease its de-dollarization approach. However, that may come with steep consequences. Indeed, US President Donald Trump has warned that there will be import taxes levied on nations that he views are seeking to “destroy” the greenback.

Brazil Re-Commited to Ditching the US Dollar: Will It Face Trump’s 150% Tariffs?

The BRICS economic alliance operates on a rotating chairmanship model. This means that the alliance will be under the guidance of a shifting presidency, with one nation taking the mantle at the start of the year. In 2025, it is Brazil that is taking that position, and it is already standing firm on what it expects of the bloc.

Amid the growing tension between BRICS and the United States, Brazil has reiterated its need to end the US dollar dominance despite 150% tariffs being threatened on such countries. 

Earlier this year, the bloc rejected a BRICS currency plan. However, that hasn’t forced it to change its tone on the group’s relationship with the greenback.

“US President Donald Trump’s threats of tariffs won’t stop the group’s determination to seek alternative platforms for payments between member countries,” Brazil’s President said. Now, whether or not they face those promised Trump tariffs will depend on how the US President views the action.

Last week, Trump said, “‘Any BRICS state that even mentions the destruction of the dollar will be charged a 150% tariff.” The bloc has yet to claim to be seeking the greenback’s destruction. Therefore, will the pursuit of alternative payment methods trigger the tariff?

Moreover, is Brazil’s position opposing a BRICS currency freeing it from those threats? It certainly became the main focus of the geopolitical sector over the next several months

@ Newshounds News™

Source:  Watcher Guru

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SEC DROPS LAWSUIT AGAINST KRAKEN, ENDING ‘POLITICALLY MOTIVATED CAMPAIGN’SEC DROPS LAWSUIT AGAINST KRAKEN, ENDING ‘POLITICALLY MOTIVATED CAMPAIGN’

The dropped lawsuit follows dismissals of other SEC lawsuits and investigations against other cryptocurrency companies like Coinbase and Gemini.

The US Securities and Exchange Commission has agreed to drop its lawsuit against Kraken, the cryptocurrency exchange revealed on March 3. The move ends what the exchange calls a “wasteful, politically motivated campaign” and “clears the path toward a stable, forward-thinking regulatory regime.”

According to Kraken, the lawsuit is being dismissed with prejudice, with no admission of wrongdoing, no penalties paid, and no changes to Kraken’s business. The SEC sued Kraken in November 2023, alleging that the exchange acted as a broker, dealer, exchange and clearing agency without registering with the SEC.

The SEC, under Gary Gensler’s leadership, was prone to a policy of regulation by enforcement, suing or investigating crypto companies, such as Coinbase, Uniswap and non-fungible marketplace OpenSea, for a variety of reasons. This approach was widely criticized in the industry for stifling innovation, targeting legitimate crypto companies instead of going after bad actors and more.

The SEC’s latest actions may reflect the changing environment of the US government regarding crypto. Kraken writes about its case, “This case was never about protecting investors — it and other enforcement actions clouded instead of clarified. It undermined a nascent industry that repeatedly urged clear rules of the road.”

A shifting regulatory climate

Since the change in SEC leadership, the agency has dismissed or is rumored to drop various lawsuits and investigations that began during Gensler’s tenure. On Feb. 27, it dismissed its lawsuit against Coinbase. Previously, it had dropped lawsuits or investigations against Consensys, Uniswap, OpenSea, Gemini and Robinhood.

The moves come as the US is shaping up for increased regulatory clarity surrounding digital assets. On Feb. 7, US lawmakers introduced a stablecoin bill to boost dollar dominance. It is possible that lawmakers may introduce a general crypto regulation bill that is a stronger version of FIT21.

In addition, there are further tailwinds: US President Donald Trump, who has said he wants to make the US the “world capital of crypto,” has announced plans for a crypto strategic reserve consisting of BTC, ETH, XRP, SOL and ADA. The president will be hosting the first White House Crypto Summit on March 7.

@ Newshounds News™

Source:  CoinTelegraph

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HESTER PEIRCE ANNOUNCES SEC’S NEW CRYPTO TASK FORCE AMID POLICY SHIFT

The U.S. Securities and Exchange Commission has officially released the list of members for its Crypto Task Force, which brings together advisors from key divisions.

This follows a memo published by Commissioner Hester Peirce on March 3 on the official SEC website. According to the memo, the task force consists of staff from Acting Chairman Mark Uyeda’s office, along with representatives from multiple divisions within the agency.

Peirce highlighted the team’s experience and commitment to addressing complex crypto regulatory challenges, stating that the Crypto Task Force is composed of knowledgeable and dedicated staff focused on developing practical regulatory solutions for the industry.

She also emphasized that the team would collaborate with other SEC experts and engage with the public to shape effective crypto regulations.

SEC’s new crypto-focused team

The task force includes Richard Gabbert as Chief of Staff, Michael Selig as Chief Counsel, and Taylor Asher as Chief Policy Advisor. Additional members include Sumeera Younis (Chief of Operations), Landon Zinda (Senior Advisor), and multiple senior advisors such as Donald Battle, Bernard Nolan, and Laura Powell.

Peirce has long been an advocate for clear and fair regulations in the crypto sector. Her latest initiative follows ongoing calls from industry leaders for more regulatory clarity.

This development aligns with a broader trend within the SEC to reevaluate its stance on cryptocurrency oversight. Under the previous administration, the agency intensified enforcement actions against crypto firms, imposing significant penalties.

For instance, in 2024 alone, the agency imposed fines totaling $4.68 billion on crypto businesses, accounting for 68% of its lifetime penalties in this sector.

However, recent months have seen a notable shift. The SEC has closed investigations into several prominent crypto entities, including Gemini, Coinbase, OpenSea, Uniswap Labs, Robinhood Crypto, Consensys, and lately Kraken. This move suggests a more lenient regulatory approach under the current administration.

@ Newshounds News™

Source:  Crypto News

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Seeds of Wisdom RV and Economic Updates Monday Afternoon 3-03-25

Good Afternoon Dinar Recaps,

LAWMAKERS LAUNCH BIPARTISAN CONGRESSIONAL CRYPTO CAUCUS FOLLOWING TRUMP BITCOIN PUSH

The first of its kind group will allow pro-industry lawmakers to vote as a bloc on key legislation.

House Majority Whip Tom Emmer (R-MN) announced the creation of the first ever congressional crypto caucus on Monday, which he says will allow pro-industry lawmakers to vote as a unified bloc on pertinent legislation.

The move comes just a day after President Donald Trump announced he's directed the Presidential Working Group to "move forward" with plans to establish a "crypto strategic reserve"—a federal stockpile of state-owned digital assets—which would include Bitcoin, Ethereum, Solana, Cardano, and XRP.

The caucus appears to be a bipartisan effort, led both by Emmer—a staunch crypto advocate—and Rep. Ritchie Torres (D-NY), one of the industry’s most vocal Democratic allies.

In a post to X on Monday morning, Emmer characterized the caucus as “a nonpartisan group of members ready to mobilize to support and defend open, permissionless, and private innovation in the United States.”

The inclusion of the term “private” in that definition would seem to be an attempt to smother any notion that as the U.S. government gets more involved in crypto, it might seek to develop technologies like a central bank digital currency, or CBDC.

Major foreign bodies like the European Union have pushed ahead in developing digital currencies in recent weeks. President Donald Trump, on the other hand, moved to ban the creation of an American CBDC days after retaking the White House. Republicans have, for years, claimed that CBDCs would pose an existential risk to financial privacy.

Decrypt reached out to Emmer’s office regarding the House crypto caucus’ top priorities and the potential initial size of its membership but did not immediately receive a response.

House caucuses are formally organized groups of lawmakers who meet to pursue shared legislative objectives and tend to vote in blocs on key issues.

Dozens of such groups currently meet on Capitol Hill. They are shaped around identity groups (Congressional Black Caucus); ideological leanings (Congressional Progressive Caucus); foreign policy (Congressional Friends of Denmark Caucus); and, in many cases, industry representation (see: Congressional Cranberry Caucus, Chicken Caucus, and Natural Gas Caucus).

While crypto has notched a slew of high profile political victories in recent weeks—from the dismissal of key lawsuits targeting industry leaders, to Trump’s doubling down on a controversial federal crypto stockpile—the somewhat less flashy announcement of an industry caucus nonetheless brings the sector one step closer to more permanent status as a mainstay special interest group in Washington.

After years of extreme political volatility for crypto that have reaped both the lowest of lows and highest of highs, perhaps becoming a household staple akin to chicken or cranberries isn’t so unappealing.

@ Newshounds News™

Source:  Decrypt

~~~~~~~~~

BRICS REACTS TO TRUMP & ZELENSKY’S WHITE HOUSE HUMILIATION

Trump and Zelensky’s White House interaction has taken the world by storm as the dirty laundry was washed in public. The war of words turned cinema as both leaders indulged in sharp criticism. 

In the aftermath of the show, the minerals deal, which Zelensky visited the US was rejected by Trump. However, the Ukrainian President said that he is open to signing the deal if the US agrees to move forward. BRICS member Brazil has reacted to the Trump-Zelensky fight and came down hard on the US President.

BRICS: Brazil Reacts to Trump-Zelensky’s War of Words

Brazilian President Luiz Lula da Silva, who will chair the upcoming BRICS summit, reacted to Trump and Zelensky’s White House war. He sharply criticized the way Trump treated Zelensky in front of reporters and other dignitaries. Lula da Silva called Trump’s attitude “grotesque and disrespectful,” against Zelensky. Additionally, he added that the US President “humiliated” Zelensky for no reason as he visited the US to discuss the minerals deal.

“I have never seen a scene as grotesque and disrespectful as the one that took place in the Oval Office of the White House. I sincerely believe that part of society thrives on disrespecting others. And it is not possible to speak of democracy if there is no respect for other human beings.

I think Zelensky was hamulated; in Trump’s mind, he probably deserved it. I think the European Union was harmed by the American speech,” said the Brazilian President who will chair the 17th BRICS summit.

Trump’s stance against Ukraine is alienating Europe as the European Union (EU) wants to hold Russia accountable for the war. BRICS member China is making use of the tensions and is extending cordial relations with Europe. Moreover, many European countries are looking to increase business deals with China as negotiating with the US has become increasingly difficult.

@ Newshounds News™

Source:  Watcher Guru

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CONTROVERSIAL IRS CRYPTO REPORTING REGULATION

Lawmakers, including Senator Ted Cruz and Cynthia Lummis, have introduced a resolution to overturn the IRS rule, with a vote expected this week.

▪The US Senate is set to vote on an IRS rule requiring crypto brokers to report detailed transaction data, a move that has sparked controversy in the industry.

▪Critics argue that the tax reporting mandate could stifle DeFi innovation, leading to legal challenges and calls for its repeal.

▪Lawmakers will also review a separate Consumer Financial Protection Bureau (CFPB) regulation that affects digital payment apps.

The US Senate is preparing to vote on a controversial IRS regulation requiring “brokers” to report gross proceeds, cost basis, and gains or losses from digital asset transactions, including cryptocurrency, stablecoins, and non-fungible tokens (NFTs).

The law, formally introduced in December 2024 and enacted in January 2025, has faced strong opposition from the crypto community. Critics argue that the regulation threatens the growth and innovation of the decentralized finance (DeFi) sector, leading to a lawsuit challenging its implementation.

Lawmakers Push for Repeal

While the legal battle continues, Senator Ted Cruz, alongside Senators Cynthia Lummis, Pete Ricketts, and others, has taken legislative action to challenge the rule, according to a CoinDesk report on Monday, citing sources familiar with the matter.

The lawmakers have introduced a joint resolution urging the repeal of the IRS regulation. A source close to the matter revealed that Congress is expected to vote on the resolution this week, a decision that could determine the rule’s future.

The Congress has the power to challenge and potentially overturn unfavourable new laws enacted by government agencies under the Congressional Review Act (CRA).

In addition to the IRS measure, Congress is also set to review what CoinDesk described as an “11th-hour regulation” from the Consumer Financial Protection Bureau (CFPB), which impacts digital payment applications.

Donald Trump Finally Adds Crypto to National Reserve

The previous administration introduced both rules in an attempt to curb innovation within the crypto sector. In 2024, the then-US president signed an executive order directing the government to assess the risks and benefits of cryptocurrencies.

The measures targeted six key areas: consumer protection, financial stability, illicit activity, US competitiveness, financial inclusion, and responsible innovation. However, despite these efforts, the industry remained without clear regulatory guidance during his tenure.

In contrast, the current administration is taking steps to establish a well-defined regulatory framework for cryptocurrencies in the US. 

Last month, President Donald Trump issued an executive order instructing federal agencies to review existing laws and create a clear regulatory structure for digital assets and related services. Agencies such as the Commodity Futures Trading Commission (CFTC) and the Department of Justice (DOJ) have been given 30 days, starting January 23, 2025, to carry out this directive.

Beyond regulatory reforms, Trump has pledged to position the US as the “world crypto capital,” aiming to lead in regulation, innovation, and technological advancements within the sector.

On Sunday, Trump officially unveiled the long-anticipated crypto reserve, incorporating major digital assets like XRP, SOL, and ADA. He emphasized that Bitcoin and Ethereum would be the “heart of the reserve,” reaffirming his strong support for the top two cryptocurrencies.

@ Newshounds News™

Source:  CoinSpeaker

~~~~~~~~~

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Iraq and Iran News Posted by Clare at KTFA 3-3-2025

KTFA:

Clare:  Counterfeit currency and 'unmarked' gold dealers busted in Iraq

3/3/2025

The National Security Service announced, on Monday, the arrest of promoters of counterfeit currencies and traders of "unmarked" gold in Baghdad and the provinces of Dhi Qar and Diwaniyah.

The agency said in a press statement received by Shafaq News Agency, "Two suspects were arrested in Baghdad in the Al-Baladiyat area, who were promoting counterfeit local and foreign currencies. 3,400 counterfeit US dollars in 100-dollar bills were seized in their possession, in addition to various amounts of counterfeit Iraqi dinars."

He continued, " In Dhi Qar, an illegal commercial complex was raided for selling unmarked gold. It was found that its owner was offering usurious loans to citizens in exchange for seizing Key Cards and Master Cards. 122 cards, a gold piece, four seals, records of the dealers, electronic devices, and an amount of 12 million and 750 thousand dinars were seized."

He pointed out that "in Diwaniyah, the apparatus' detachments were able to overthrow a gang specializing in promoting counterfeit currency, where an ambush was set up for one of the gang members and two suspects (a man and a woman) were arrested red-handed while exchanging counterfeit money, and an amount of 215 thousand counterfeit US dollars was seized in their possession, in addition to the vehicle they were riding in."  LINK

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Clare:  Mazhar Saleh: Geopolitical controls push towards shifting to official channels for currency trading

3/3/2025

Mazhar Muhammad Salih, the financial advisor to the Prime Minister, confirmed that the geopolitical controls imposed on informal trade contribute to expanding dealings with official outlets for foreign currency, which contributes to financing foreign trade through the sound international financial system.

He pointed out in his statement to {Euphrates News} that "this shift aims to move away from informal financing from the parallel dollar market intensively, especially with the change in the behavior of small traders in avoiding the parallel market linked to the countries' regional and geopolitical problems." 

Saleh added that "this shift comes in the context of the importance of increasing Iraq's foreign reserves and confronting money smuggling operations, in addition to facilitating external transfer operations through Iraqi banks that deal with international banking correspondents, at an official exchange rate of 1,320 dinars per dollar."

He also stressed that the end of the compliance platform phase adopted by the Central Bank of Iraq in the past two years and the country's entry into a new phase has contributed to providing great flexibility in financial transfers through official channels.   LINK

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Clare:  Oil Minister: A boom in investment in associated gas and raising its rates to 67%

3/3/2025

Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul-Ghani Al-Sawad received today, Monday, a German delegation that includes representatives of the German Embassy in Baghdad, the German Chamber of Commerce, and companies specialized in various oil and non-oil fields.

Abdul Ghani confirmed, in a statement from his office, a copy of which was received by {Euphrates News}, "Iraq is keen to cooperate with various parties, including German companies, which have a long history in the field of industry and are of high quality and acceptable in Iraq."

He pointed out that "Iraq has made great strides in the field of developing the oil industry, and in particular the optimal investment of gas, as Iraq has achieved, during the life of the government, a great leap in the field of investment in associated gas and raised investment rates from 53% to more than 67%, and Iraq is determined to stop flaring gas and achieve self-sufficiency in 2028."

Abdul Ghani explained that "the ministry has major projects in the gas investment sector, the most important of which is the gas development project in Basra with Total to invest 600 cubic meters in two phases, in addition to other projects in the field of gas field development, as the ministry signed contracts to develop the Mansouriya and Akkas fields, and signed contracts to develop 14 fields and exploration areas, which were offered in the fifth and sixth supplementary licensing rounds."

He added, "The ministry has investment opportunities for gas and oil exploration fields and blocks from the last licensing round that have not been referred. The ministry is working to develop them through investment projects with specialized international companies."

German companies presented a review of their activities and offers to work and cooperate with the Ministry of Oil and its formations, in the fields of exploration, pipelines, laboratories, training, and the provision of equipment, tools, and supplies for oil facilities.  LINK

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Clare:  Iraq-Turkey Pipeline Reopening Pressures Oil Prices, Signals Potential Market Shift

3/3/2025

ERBIL  – Oil prices experienced volatility as news of the anticipated reopening of the Iraq-Turkey pipeline raised expectations of increased supply, despite Iraq’s ongoing commitment to OPEC+ production constraints, according to a report by Robin Mills, CEO at Qamar Energy, published in the Energy This Week newsletter on Monday

Mills noted that crude oil prices ended higher on Monday but dropped on Tuesday following reports that the Iraq-Turkey pipeline is set to resume operations. The country’s deputy oil minister, Bassem Mohammed, recently confirmed that 185,000 barrels per day (bpd) from the Kurdistan Region could be exported after domestic allocations are met. Before its closure in March 2023—following an arbitration ruling—the pipeline transported around 450,000 bpd.

“The market is reacting to the possibility of higher supplies, but Iraq is still constrained by its OPEC+ commitments,” Mills stated. He added that while the pipeline’s reopening may put downward pressure on oil prices in the short term, long-term impacts will depend on Iraq’s ability to balance exports with production limits.

Mills also highlighted the role of U.S. diplomatic efforts in pushing for the pipeline’s resumption. “Washington has been applying pressure on Baghdad to restart exports through the pipeline, which requires an agreement between the federal government and the Kurdistan Regional Government (KRG) on budget allocations and payments to international oil companies,” he explained.

Meanwhile, British Petroleum (BP) has reinforced its presence in Iraq’s energy sector by finalizing a deal to redevelop the massive Kirkuk oil fields in the country’s north. Mills pointed out that BP, part of the original consortium that discovered Kirkuk’s oil in 1927, estimates the contract area contains up to 20 billion barrels of oil equivalent. “This redevelopment could help Iraq secure a higher production quota within OPEC+,” he noted.

However, BP itself faces challenges, and Mills referenced recent discussions suggesting that a merger with Shell could strengthen the struggling British energy giant.

Iraq’s Energy Sector and Geopolitical Pressures

Iraq, OPEC’s second-largest oil producer, has long grappled with balancing its production ambitions against OPEC+ output agreements. While Baghdad seeks to increase exports to boost revenue, it remains bound by cartel-imposed limits, a tension that has led to periodic disputes.

Mills emphasized that the reopening of the Iraq-Turkey pipeline is particularly significant for the Kurdistan Region, which has faced financial strain since the shutdown. 

The U.S. has been actively working to counter Iran’s influence in Iraq, particularly following President Donald Trump’s return to office. By pressuring Baghdad to resume pipeline exports, Washington aims to strengthen its economic ties with Erbil while reducing Tehran’s leverage over Iraq’s energy sector.

As Iraq navigates these complex political and economic dynamics, the coming months will be crucial in shaping the country’s energy strategy amid shifting global market conditions and geopolitical maneuvering.   LINK

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

Clare:  Kurdistan Region's Oil Exports Near Resumption

3/3/2025

ERBIL – All preparations for resuming the Kurdistan Region’s oil exports to Turkey’s Ceyhan port have been completed, according to an announcement by a member of the Iraqi Parliament’s Oil and Gas Committee.

The long-awaited move comes after almost two years of suspension, which has cost the Iraqi government billions in revenue losses.

Ali Shaddad al-Faris, an MP from Basra and a member of the Oil and Gas Committee, confirmed that no obstacles remain to restart the oil flow. “According to the budget amendment, the amount to be sent from the region is between 300,000 to 325,000 barrels of oil per day,” he stated.

Additionally, al-Faris revealed that the Kurdistan Regional Government (KRG) has requested an increase in the amount of oil used for domestic consumption, seeking an expansion from 45,000 barrels per day to 110,000 barrels per day.

Iraq’s Oil Minister, Hayan Abdul Ghani, announced last Friday that the Federal Oil Marketing Company (SOMO) would initially sell 185,000 barrels of Kurdistan Region oil per day through Turkey’s Ceyhan port. This figure is expected to gradually rise until it aligns with the quota specified in the federal budget.

The decision marks a significant development after prolonged disputes over oil revenue-sharing between the Kurdistan Regional Government and Baghdad. Since March 2023, exports have been halted following an international arbitration court ruling in Paris, which favored the Iraqi federal government in its legal battle over oil export rights.

The suspension of exports has resulted in an estimated loss of over $21 billion for Iraq’s treasury, underscoring the economic urgency of restoring Kurdish oil sales.

US-Iraq Talks and Diplomatic Pressure

The resumption of oil exports has been a key issue in recent U.S.-Iraq diplomatic discussions.

Last Tuesday, U.S. Secretary of State Marco Rubio spoke with Iraqi Prime Minister Mohammed Shi’a al-Sudani, marking their first official conversation. According to statements from both governments, the meeting was productive, addressing a range of issues, including the Iraq-Turkey pipeline.

On Friday, Reuters reported that the Trump administration has been pressuring Baghdad to allow the restart of Kurdish oil exports as part of Washington’s broader "maximum pressure" campaign on Iran. The U.S. sees Kurdistan’s oil exports as a strategic economic lever, and Secretary Rubio specifically raised the issue with Prime Minister Sudani.

Tammy Bruce, the U.S. State Department spokesperson, stated that both leaders agreed on the importance of reopening the Iraq-Turkey Pipeline "as quickly as possible." The involvement of Washington further underscores the geopolitical importance of Kurdish oil exports and the role they play in regional energy dynamics.

Economic and Political Implications

The restoration of oil exports is expected to ease financial strains on both Erbil and Baghdad. The KRG relies heavily on oil revenue to sustain its economy, and the prolonged suspension has exacerbated budgetary challenges, including delays in public sector salaries. Meanwhile, Baghdad seeks to recover billions in lost revenue and stabilize its economic outlook.

However, broader negotiations between the KRG and Iraq’s federal government remain ongoing, particularly regarding revenue-sharing mechanisms and long-term agreements on oil production rights.

As preparations are finalized and the first shipments of Kurdish oil are set to flow once again, all eyes will be on how efficiently the resumption process unfolds and whether it signals a more stable economic and political relationship between Erbil and Baghdad.  LINK

***********

Clare:  Due to the collapse of the toman.. Iranian parliament dismisses the Minister of Finance

3/2/2025

The Iranian parliament dismissed Finance Minister Abdolnaser Hemmati on Sunday after starting a no-confidence vote against him over his handling of the high inflation rate and the decline in the national currency exchange rate, state television reported.

The source explained that the Minister of Economic Affairs and Finance, Abdolnasser Hemmati, lost the vote of no confidence against him, with 182 parliamentarians out of 273 who attended the session designated for his dismissal supporting the motion.

Earlier on Sunday, Iran's parliament began a session that included a vote of no confidence in the finance minister, following a sharp decline in the value of the Iranian currency, the rial.

On the black market on Sunday, the riyal was trading at more than 920,000 to the US dollar, compared to less than 600,000 in mid-2024.

The decision to withdraw confidence from Finance Minister Abdolnaser Hemmati comes nearly 8 months after the formation of the government under President Masoud Pezeshkian.

Under the Iranian constitution, the minister's dismissal would take effect immediately, with an acting minister appointed until the government chooses a replacement.   LINK

Iraq Economic News and Points to Ponder Monday AM 3-3-25

Reasons For The Decrease In The "Temporary" Dollar Exchange Rate In Iraq
 
Economy ​ Yesterday, 17:40 | Baghdad today – Baghdad  The specialist in the economic affairs, Nasser Al-Tamimi, commented today, Sunday (2 March 2025), the continuous decrease in the dollar exchange rate in the local markets days ago.
 
Al -Tamimi told "Baghdad Today", that "the decline in the exchange rate of the dollar in the local markets is  temporary,   due to the lack of demand for it currently in the market due to the month of Ramadan, where there is a   decline in the demand process as well as shopping in dollars such as cars, real estate and other issues sold in dollars."

And that  "this decrease is temporary and will return to rise again, especially with the near days of Eid Al -Fitr, after which it will return to its position between (150 and 151) per 100 dollars," noting that
 
"this decrease did not come due to real remedies for this long time, but the
 
real reason is the lack of demand during these days."
 
The dollar exchange rate continued, today, Sunday (2 March 2025), a decrease in the local stock exchange, down to record levels for the first time in several months.
 
The "Baghdad Today" correspondent said that the dollar prices, on the struggle and Al-Harithiya stock exchanges in the capital, Baghdad, recorded, on Sunday afternoon 146,800 thousand dinars for $100.    
  
https://baghdadtoday.news/268975-أسباب-انخفاض-سعر-صرف-الدولار-المؤقت-في-العراق.html 

Central Bank: Gold Reserves Grow By 45.1 Percent

Sunday 02 March 2025 11:30 | Economic Number of readings: 339  Baghdad / NINA / The Central Bank of Iraq announced today, Sunday, that gold reserves recorded a growth of 45.1 percent.

The Central Bank said in a statement: "The gold reserves of the Central Bank of Iraq recorded a growth of (45.1%) in the fourth quarter of 2024 compared to the same quarter of the previous year, as they rose from (12.29 trillion dinars in the fourth quarter of 2023 to (17.83) trillion dinars for the same quarter in 2024 as a result of the increase in the amount of gold and gold prices."

He added that "this carries great benefits as it enhances economic and financial stability and protects against risks, and is considered an important tool for intervening in the exchange market." https://ninanews.com/Website/News/Details?key=1189541

Iraq's Oil Exports To America Declined Last Week

Sunday 02 March 2025 12:01 | Economic Number of readings: 281  Baghdad / NINA / The US Energy Information Administration announced today, Sunday, that Iraq exported more than 200 thousand barrels to America during the past week.

The administration stated in a table, "The average US imports of crude oil during the past week from 9 major countries amounted to 5.535 million barrels per day, up by 260 thousand barrels per day from the previous week, which amounted to 5.275 million barrels per day."

It added that "Iraq's oil exports to America amounted to 228 thousand barrels per day, down by 29 thousand barrels per day from the previous week, which amounted to 257 thousand barrels per day.

" The administration indicated that "most of America's oil revenues during the past week came from Canada, followed by Mexico, Venezuela and Saudi Arabia."

According to the table, "the amount of US imports of crude oil continued from Ecuador, Brazil, Colombia and Nigeria." / End   https://ninanews.com/Website/News/Details?key=1189550

SOMO: Iraq Exports More Than 4 Million Tons Of Oil Derivatives In 3 Months

Energy  Economy News – Baghdad  The State Oil Marketing Company (SOMO) announced the export of 3 petroleum products, amounting to more than 4 million tons of petroleum derivatives, during the fourth quarter of 2024.

SOMO said in its tables, which were reviewed by Al-Eqtisad News, that "Iraq exported 4 million, 465 thousand, and 749 tons of oil derivatives from October until December 2024."

The company added that "Iraq exported fuel oil in the amount of 4 million, 216 thousand, and 145 tons in the fourth quarter of 2024, compared to the same period in 2023, in which fuel oil exports amounted to 2 million, 796 thousand, and 606 tons."

According to the tables, "Iraq also exported 194,637 tons of naphtha," noting that "jet fuel was also exported in an amount of 54,967 tons."

Naphtha is an intermediate intended either for the petrochemical industry (such as ethylene manufacturing or aromatics production) or for the production of gasoline by reforming or isomerization within the refinery.   https://economy-news.net/content.php?id=53072

Oil Prices Record First Monthly Loss Since Last November

Saturday 01 March 2025 08:29 | Economic Number of readings: 263  Baghdad / NINA / Oil prices fell by more than 1% at settlement on Friday evening and are heading to record the first monthly decline since November, as markets await Washington's threats to impose customs duties and Iraq's decision to resume oil exports from the Kurdistan region.

Investor sentiment was also affected by the uncertainty surrounding OPEC's plans for production in April and the ongoing peace talks to end the war in Ukraine.

Brent crude May contracts, the most active, fell 88 cents, or 1.2%, to $72.69 a barrel, while US West Texas Intermediate crude recorded $69.36 a barrel, down 99 cents, or 1.41%, according to Reuters.

Brent crude futures for the nearest month, which expire today, were traded at $73.09 a barrel, down 95 cents.

Both benchmarks are heading to record their first monthly decline in 3 months.

Investors' appetite for risk has been reduced by factors such as expectations of an economic slowdown in the United States, tariffs, OPEC+ plans to increase supplies in April, and the possibility of a peace deal in Ukraine, which could boost Russian oil exports. / https://ninanews.com/Website/News/Details?key=1189347

Gold Posts Weekly Losses But Monthly Gains

Saturday 01 March 2025 08:58 | Economic Number of readings: 183  Baghdad / NINA / Gold prices fell in global markets at the end of trading on Friday evening, recording weekly losses, but achieved gains throughout the February sessions.

The price of gold futures fell by 1.6%, with losses of about $ 47, at $ 2848 per ounce, but recorded weekly losses of about 1.8%, but with monthly gains of 0.4%.

At settlement yesterday, gold fell in spot transactions by 0.9%, equivalent to $ 26, to $ 2851 per ounce.

The dollar rose against the euro by 0.3% at $ 1.0367, and the greenback rose against the Japanese yen by 0.5% at 150.6000 yen, and against the British pound by 0.2% at $ 1.2572. / https://ninanews.com/Website/News/Details?key=1189349

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

Seeds of Wisdom RV and Economic Updates Monday Morning 3-03-25

Good Morning Dinar Recaps,

RIPPLE UNLOCKS 1B XRP AS TRUMP ADDS IT TO US CRYPTO RESERVE, PRICE JUMPS 30%

▪Ripple unlocked 1 billion XRP on March 3, but re-locked 700 million tokens into escrow after Trump's crypto reserve announcement.

▪Whale Alert reported major XRP movements, with 500 million XRP sent to two different wallets.

▪XRP’s price hit $2.60 but faces resistance at $3; if it breaks through, the next target could be $3.40, its January high.

As part of the monthly release of 1 billion XRP tokens, Ripple unlocked another 1 billion XRP on the 3rd of March before re-locking the 700 million XRP tokens into an escrow wallet.

This came after U.S. President Donald Trump announced on Truth Social that select cryptocurrencies, including XRP, were added to the new U.S. Crypto Strategic Reserves. Following this news, XRP, the third-largest cryptocurrency by market cap, surged 30% in a day, reaching a market cap of $150 billion.

Could this endorsement bring in more institutional investors and fuel an even bigger rally? Let’s dive into the details.

XRP On the Move!

On March 3, blockchain tracker Whale Alert reported the release of 1 billion XRP from Ripple’s escrow accounts, worth around $2.6 billion in multiple transactions. The first 500 million XRP was sent in two batches 100 million first, followed by 400 million to the wallet ‘rGKHD…2Bdh.’

However, a few minutes later, another 500 million XRP was sent in a single transaction to the wallet ‘rHGfm…sbQr.’

Ripple unlocks XRP every month, but this time, the release gained more attention due to Trump’s announcement. Many believe that adding XRP to the U.S. Crypto Reserve could bring in more big investors and boost its price.

700 Million XRP Locked Back in Escrow

Despite unlocking 1 billion XRP, Ripple did not release all of it into the market. Instead, 700 million XRP was locked back into escrow. Here’s how the distribution played out:

First wallet: Received 500 million XRP but has not moved it yet. Previously, it sent 300 million to another wallet on March 1 and locked back 200 million.

Second wallet: Received 500 million XRP but quickly moved the same amount to another Ripple wallet, which then locked it back in escrow.

If Ripple follows its usual monthly pattern, another 100 million XRP might be locked, leaving only 200 million XRP in circulation.

XRP Price Jumps but Faces Resistance

Following these events, XRP’s price surged 17%, reaching $2.60 at the time of writing. In the past 24 hours, it has gained 30%, pushing its market cap to $150 billion.

However, technical indicators suggest that XRP is now facing resistance at the $3 level, which could slow down its rally. If buyers break past this level, the next target could be $3.40, its January high.

XRP’s bullish surge signals growing confidence—whether it can sustain this momentum is the real question.

@ Newshounds News™

Source:  Coinpedia

~~~~~~~~~

TOKENIZATION CAN TRANSFORM REAL ESTATE INVESTING — POLYGON CEO

Tokenizing real estate and overhauling property investment markets has its challenges but is a killer use case for blockchain technology.

Real-world asset (RWA) tokenization can completely overhaul the real estate investment sector, which is highly illiquid, filled with intermediaries, and high transaction costs, according to Polygon CEO Mark Boiron.

In an interview with Cointelegraph, the CEO said that tokenization of properties could remove unnecessary intermediaries, thereby lowering transaction costs.

The CEO added that fractional ownership and trading tokenized real estate on the secondary markets would open up liquidity and increase the velocity of money. Boiron told Cointelegraph:

"The thing you really want is the ability to eliminate the illiquidity discount on real estate. All real estate is illiquid and therefore it's discounted to some degree. It can be more valuable if it's liquid."

Lumia Towers, an ongoing $220 million commercial real estate development in Istanbul, Turkey, featuring two skyscrapers with 300 mixed-use commercial and residential units, used Polygon's technology to tokenize the project.

Boiron said that the future of real estate is onchain. However, regulators must be comfortable with blockchain technology and public permissionless systems before tokenized real estate becomes the de facto standard.

In the United States, Quarter offers tokenized alternatives to debt-based home mortgages to increase levels of home ownership and make it more affordable to aspiring home buyers.

The company achieves this by assigning fractionalized equity rights to both the property investor and the prospective home buyer, which can be sold — deviating from the traditional debt-based mortgage financing that is the current standard in many jurisdictions.

In February 2025, real estate platform Blocksquare launched a real estate tokenization framework for the European Union that allows equity rights to be assigned and transferred onchain.

Real estate asset tokenization is gaining popularity in the United Arab Emirates (UAE) in what has become one of the hottest real estate markets in the world.

According to Tokinvest founder and CEO Scott Thiel, property developers in the UAE are scrambling to tokenize their projects as an alternative means to traditional financing structures.

Stablecoin issuer Tether also partnered with real estate platform Reelly Tech in February 2025 to expand the use of USDt in real estate transactions in the UAE.

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

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“Tidbits From TNT” Monday Morning 3-3-2025

TNT:

Tishwash:  Mazhar Saleh: Geopolitical controls push towards shifting to official channels for currency trading

Mazhar Muhammad Salih, the financial advisor to the Prime Minister, confirmed that the geopolitical controls imposed on informal trade contribute to expanding dealings with official outlets for foreign currency, which contributes to financing foreign trade through the sound international financial system.

He pointed out in his statement to {Euphrates News} that "this shift aims to move away from informal financing from the parallel dollar market intensively, especially with the change in the behavior of small traders in avoiding the parallel market linked to the countries' regional and geopolitical problems." 

Saleh added that "this shift comes in the context of the importance of increasing Iraq's foreign reserves and confronting money smuggling operations, in addition to facilitating external transfer operations through Iraqi banks that deal with international banking correspondents, at an official exchange rate of 1,320 dinars per dollar."

He also stressed that the end of the compliance platform phase adopted by the Central Bank of Iraq in the past two years and the country's entry into a new phase has contributed to providing great flexibility in financial transfers through official channels.   link

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Tishwash:  Al-Sudani receives a delegation from the Chinese company (Power China) to review the projects it is implementing in Iraq

Prime Minister Mohammed Shia Al-Sudani received today, Sunday, the CEO of the Chinese company (Power China) Chen Guan Fu, and his accompanying delegation.

A statement from the Prime Minister's Office stated that during the meeting, the projects implemented by the company in Iraq were reviewed, including solar energy projects, combined cycle projects and gas stations, within the framework of government orientations seeking to diversify energy sources.

Al-Sudani was briefed on the plans and procedures followed to implement these projects, and the mechanisms for expanding the work of the Chinese company based on the plans set by the government, in addition to discussing joint projects with the Iraq Development Fund, especially in the field of investing and implementing clean and renewable energy projects in Iraq.  link

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Tishwash: Masa'iya" will return next Sunday.. The Iraqi parliament suspends its sessions this week

A source in the Iraqi parliament reported on Sunday that the parliament presidency has suspended sessions this week, and that they will resume next week.

The source told Shafaq News Agency, " The Iraqi Parliament Presidency informed the representatives that there will be no parliament session this week."

He added that " the council will resume its regular sessions on Saturday or Sunday of next week," indicating that "the sessions will be held in the evening after breakfast."   

Last week, the member of the Parliamentary Legal Committee, Mohammed Anouz, revealed to Shafak News Agency that the Parliament sessions during the month of Ramadan will be in the evening, i.e. after breakfast, to ensure the continuation of legislative work before the end of the current session .

It is noteworthy that the current session of the Iraqi Council of Representatives began on January 9, 2022, and is scheduled to continue for four years, which means that it will end on January 8, 2026 .

According to the amended Electoral Law No. 12 of 2018, legislative elections must be held 45 days before the end of the parliamentary term .

Accordingly, the next elections are expected to be held in late November 2025 .  link

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Mot: Where I Is Headed if the Dang - ""RV"" doesnt Happen Soon!!

Mot:  Amazing What Ya Learn frum da Net!!! 

Iraq Economic News and Points to Ponder Sunday Afternoon 3-2-25

Expert: The Decline In The Dollar Exchange Rate Is Not Guaranteed And Speculation Is Behind The Decline

March 2, 2025  Baghdad - Qusay Munther  Economist Mahmoud Dagher attributed the reasons for the decline in the dollar price in local markets to the filling of the dollar portfolios of neighboring countries. Dagher said in a statement yesterday that (the influx of large amounts of dollars to neighboring countries has led to their hard currency reserves being filled, which has contributed to the decline in the dollar price in local markets), noting that (the continuation of this decline is not guaranteed, given the existence of speculation in the dinar market that may affect the stability of the exchange rate).

 Local markets in Baghdad and the Kurdistan Region have witnessed a gradual decline in the dollar price, as it currently stands at 147 dinars per hundred dollars in Baghdad, while it has recorded 146,300 dinars per hundred dollars in the region.

At the same time, the Central Bank of Iraq has lifted the smoke from local brick factories by launching an environmental initiative aimed at converting these factories from using polluting fuel to clean energy, in line with global trends to confront climate change, which paves the way for a more sustainable economy, and puts Iraqi industry on the cusp of a green transformation that contributes to reducing carbon emissions and protecting the environment.

The bank said in a statement received by (Al-Zaman) yesterday that (in light of global trends, and in line with the policies of central banks in reducing carbon emissions and enhancing environmental sustainability, we announce the adoption of clean energy solutions in coordination with the Ministry of Environment, which contribute to achieving sustainable development),

 and indicated that (based on this role, we announce the inclusion of local brick factories in soft loans for the renewable energy initiative to shift from the use of polluting fuel, black oil, to cleaner fuel, liquefied gas, to reduce air pollution, raising the loan ceiling to 500 million dinars for each factory through licensed Iraqi banks),

and the statement explained that (the bank also decided to support the Environmental Protection and Improvement Fund with an amount of one billion dinars to confront air pollution and the resulting environmental changes),

 and went on to say that (these decisions come in response to the requirements of green economic development, reducing the environmental impact of industry and supporting the gradual transition towards a more sustainable economy).

The bank confirmed that gold reserves recorded a growth of 45.1 percent. The statement said that (the bank's gold reserves recorded a growth of 45.1 percent in the fourth quarter of last year compared to the same quarter of the previous year, as they rose from 12.29 trillion dinars in the fourth quarter of 2023 to 17.83 trillion dinars for the same quarter of the same year,

 as a result of the increase in the quantity and prices of gold), noting that (this carries great benefits as it enhances economic and financial stability and protects against risks, and is considered an important tool for intervening in the exchange market).

In a related context, foreign and Iraqi gold prices decreased in the local markets in Baghdad, while they stabilized in Erbil.Experts said that (gold prices in the wholesale markets of Al-Nahr Street in Baghdad recorded a selling price for one mithqal of 21 karat Gulf, Turkish and European gold of 590 thousand dinars, and the purchase price of 586 thousand dinars),

 adding that (the selling price of one mithqal of 21 karat Iraqi gold recorded at 560 thousand dinars, and the purchase price reached 556 thousand), stressing that (gold prices in goldsmiths’ shops for the Gulf mithqal of 21 karat range between 590 and 600 thousand dinars,

while the sale of the Iraqi gold mithqal ranges between 560 and 570 thousand dinars), and the experts went on to say that (gold prices in Erbil recorded stability, as the price of 24 karat gold reached 685 thousand dinars for sale, 22 karat gold reached 628 thousand dinars, 21 karat gold reached 600 thousand dinars for sale, and 18 karat gold reached 515 thousand dinars).

Meanwhile, Rafidain and Rashid banks have started disbursing the salaries of civilian and military retirees for the current month of March. A statement received by Al-Zaman yesterday said that “Rafidain and Rashid banks have raised the salaries of civilian and military retirees for the current month of March,” and the two banks stressed that “beneficiaries should visit their branches and electronic payment centers to receive their financial dues.”

 The National Retirement Authority had previously announced the disbursement of retirees’ salaries for the month of March. The Authority’s Deputy Chairman, Hussam Abdul Sattar, said in a statement yesterday that “the salaries of retirees for the current month have been disbursed.”

Calling on retirees who receive text messages to (review the disbursement outlets to receive their salaries gradually).

 Meanwhile, the Ministry of Labor and Social Affairs launched the social assistance payment for the month of March. A statement by the ministry received by Al-Zaman yesterday stated that (the ministry announces the launch of the social assistance payment for the current month, which includes more than two million and 117) thousand families, with a total amount exceeding 457 billion dinars).

For his part, the head of the Social Protection Authority, Ahmed Al-Moussawi, said that (the number of families covered by the assistance supported by men has reached more than one million and 536 thousand families, with a total amount exceeding 368 billion dinars, while the number of families supported by women has reached more than 581) thousand families, with a total amount exceeding 88 billion dinars),

 calling on the beneficiary families to (review the disbursement outlets to receive the assistance allocated to them), stressing (the necessity of following up on the announced disbursement dates to ensure receipt of the amounts), and he went on to say (the beneficiaries must not withdraw the full amounts deposited in their cards, to benefit from the discount service that reaches 15 percent in hypermarkets, which has officially entered into force).  LINK

The Dollar Continues Its Sudden Decline In The Irayqi Markets With The Closure Of The Stock Exchange

Economy | 05:56 - 02/03/2025    Mawazine News – The US dollar prices witnessed a decline today, Sunday, in the markets of the capital Baghdad and Erbil, the capital of the Kurdistan Region, with the closure of the stock exchange in the country.

The dollar prices decreased with the closure of the two main stock exchanges in Baghdad, Al-Kifah and Al-Harithiya, to record 147,500 dinars per 100 dollars, while the prices were 147,800 dinars per 100 dollars this morning.

As for the selling prices in exchange shops in the local markets in Baghdad, they decreased, as the selling price reached 148,500 dinars per 100 dollars, while the purchase price reached 146,500 dinars per 100 dollars.

In Erbil, the dollar also recorded a decline, as the selling price in exchange shops reached 146,800 per 100 dollars, while the purchase price reached 146,700 dinars per 100 dollars. https://www.mawazin.net/Details.aspx?jimare=259931

IMF Confirms Support For Iraq In Developing Financial Policies

Money and business   Economy News - Baghdad

The Ministry of Finance confirmed, on Sunday, that the Iraqi government is committed to achieving financial sustainability that supports development and stimulates investment, while the International Monetary Fund expressed its support for Iraq in developing financial policies.

A statement by the ministry, seen by Al-Eqtisad News, stated that "the Iraqi delegation concluded its meetings with the International Monetary Fund in Amman during the period from February 24 to 26, 2025, with the participation of the Minister of Finance, Taif Sami Muhammad, and the Governor of the Central Bank of Iraq," noting that "the economic performance of Iraq and the prospects for sustainable growth were discussed, amid appreciation for the progress made."

The statement added, "The discussions, in which experts from the Ministries of Finance, Planning, Oil, Electricity and the Central Bank participated, focused on macroeconomic indicators, where a remarkable growth in non-oil GDP was recorded at 5% for the year 2024, driven by the expansion of the agricultural sector and the increase in public spending, with growth expected to continue at 3.5% in 2025."

The mission confirmed, according to the statement, that "these figures reflect an improvement in economic diversification and a reduction in dependence on oil, which enhances the stability of the national economy, in addition to reviewing actual expenditures and expected revenues for the year 2024 and expectations for the year 2025 and how to finance the deficit."

The statement added that "the meeting discussed updating the public debt strategy with mechanisms that ensure public financial sustainability and enhance investor confidence in government bonds. The IMF also stressed the importance of developing the banking sector to support investments and attract foreign capital, which contributes to creating a more stable financial environment."

The Fund confirmed, according to the statement, "its support for Iraq in developing financial policies by providing advisors and experts to assist the Ministry of Finance in managing public debt and improving the tax system in line with the requirements of economic growth."

The statement added, "Within the framework of enhancing financial stability, it was agreed to intensify efforts to expand cooperation with foreign correspondent banks, which facilitates foreign trade financing operations, in addition to enhancing the use of the Iraqi dinar in major transactions, which enhances the strength of the national currency."

The meetings stressed the continued progress in financial and economic reforms, reflecting the Iraqi government’s commitment to achieving financial sustainability that supports development and stimulates investment, in light of an ongoing strategic partnership with the International Monetary Fund.   https://economy-news.net/content.php?id=53079

Iraq, IMF Announce New Steps To Boost National Economy

Economy | 04:46 - 02/03/2025  Mawazine News – The Iraqi Ministry of Finance announced today, Sunday, the results of the meetings held with the International Monetary Fund in the Jordanian capital, Amman, where it was agreed to intensify efforts to expand cooperation with foreign correspondent banks, in a move aimed at enhancing financial stability and supporting the national economy.

A statement issued by the ministry, received by "Mawazine News", stated:

The Iraqi delegation, headed by the Minister of Finance, Taif Sami Mohammed, and the Governor of the Central Bank of Iraq, concluded its meetings with the International Monetary Fund from February 24 to 26, 2025, where Iraq's economic performance and prospects for sustainable growth were discussed, indicating that the progress achieved in various economic sectors was appreciated.

yThe statement indicated that the discussions focused on macroeconomic indicators, as a remarkable growth in non-oil GDP was recorded at 5% for the year 2024, supported by the expansion of the agricultural sector and the increase in public spending, indicating that growth was expected to continue at 3.5% in 2025, reflecting an improvement in economic diversification and a reduction in dependence on oil, which enhances the stability of the national economy.

The meeting also addressed updating the public debt strategy, emphasizing the importance of developing the banking sector to support investments and attract foreign capital, which contributes to improving financial stability.

The International Monetary Fund affirmed its support for Iraq in developing financial policies by providing advisors and experts to assist the ministry in managing public debt and improving the tax system.

In the context of enhancing financial stability, it was agreed to intensify cooperation with foreign correspondent banks, which would contribute to facilitating foreign trade financing operations and enhancing the use of the Iraqi dinar in major transactions.

In conclusion, the statement stressed that the meetings confirmed the continued progress in financial and economic reforms, reflecting the Iraqi government's commitment to achieving financial sustainability that supports development and drives investment, in light of an ongoing strategic partnership with the International Monetary Fund. https://www.mawazin.net/Details.aspx?jimare=259926

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

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 3-02-25

Good Afternoon Dinar Recaps,

WHITE HOUSE CRYPTO CZAR CONFIRMS US TO ESTABLISH RESERVE WITH BITCOIN AND OTHER TOP CRYPTOCURRENCIES

White House Crypto Czar David Sacks has endorsed President Donald Trump’s U.S. Crypto Strategic Reserve, highlighting its inclusion of bitcoin and other top cryptocurrencies to position the U.S. as a global leader.

Trump’s US Crypto Strategic Reserve Sparks Industry Buzz

David Sacks, the White House AI and crypto czar, has expressed support for President Donald Trump’s announcement of a U.S. crypto strategic reserve. In a post on social media platform X, Sacks stated:

"President Trump has announced a Crypto Strategic Reserve consisting of bitcoin and other top cryptocurrencies. This is consistent with his week-one E.O. 14178. President Trump is keeping his promise to make the U.S. the ‘Crypto Capital of the World.’ More to come at the Summit."

On March 2, President Trump outlined the composition and goals of a proposed U.S. crypto reserve on Truth Social. He claimed the initiative would revitalize the cryptocurrency sector, which he said was harmed under the Biden administration. 

Trump stated that his executive order on digital assets directed the Presidential Working Group to develop a Crypto Strategic Reserve, including XRP, SOL, and ADA, aiming to position the U.S. as a global leader in crypto.

 In a follow-up post, he confirmed that BTC and ETH would be central to the reserve, expressing support for bitcoin and ethereum. His statements indicate a push to integrate major cryptocurrencies into national financial policy.

Historically, President Trump’s stance on cryptocurrencies has evolved. Initially skeptical, he has recently adopted a more supportive position, aligning with his promise to establish the U.S. as a hub for cryptocurrency innovation. The issuance of Executive Order 14178 reflects this commitment, directing federal agencies to develop frameworks that support digital asset integration and regulation.

Sacks also announced on Feb. 28 plans for a significant industry event, stating on X: “President Trump will host the first White House Crypto Summit on Friday, March 7. Attendees will include prominent founders, CEOs, and investors from the crypto industry. Look forward to seeing everyone there!”

The summit is expected to facilitate dialogue between the administration and key stakeholders, further solidifying the U.S.’s leadership role in the global cryptocurrency landscape.

@ Newshounds News™
Source:  Bitcoin News

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INSIDE THE WHITE HOUSE CRYPTO SUMMIT: TRUMP TO LEAD TALKS WITH 25 KEY GUESTS

This Friday, March 7th, marks the first-ever White House Crypto Summit, a key event that aims to shape the future of cryptocurrency policy in the U.S. According to Fox Business, the summit is part of a series designed to replace the previously proposed Crypto Advisory Council, giving the President’s Working Group on Digital Assets a chance to collaborate directly with the crypto industry on key issues.

“The White House announced today that President Trump will host and deliver remarks at the first ever White House Crypto Summit on Friday, March 7. Attendees will include prominent founders, CEOs, and investors from the crypto industry, as well as members of the President’s Working Group on Digital Assets,” the press release stated.

Around 25 invitees are expected to attend the summit, though the guest list is still under wraps. It’s anticipated that more details on who will be present will be released soon.

 Some important figures, like David Sacks (the White House’s crypto czar) and Bo Hines, are expected to be involved, which signals a positive direction for crypto legislation and future policy clarity.

The shift from a formal advisory council to these summits suggests a more flexible approach to policymaking, allowing for direct engagement with industry leaders. This is seen as a step in the right direction for crypto, offering a clearer path forward and showcasing the government’s growing support for the industry.

The White House crypto summit is expected to spark important discussions that could influence future legislation and solidify the role of crypto in the U.S. economy. As crypto continues to gain mainstream acceptance, this summit is a strong signal that the government is committed to ensuring its place in the financial landscape.

@ Newshounds News™

Source:  Coinpedia

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DE-DOLLARIZATION: GLOBAL BANK PREDICTS FUTURE OF THE US DOLLAR

Despite de-dollarization, the US dollar rebounded in price as the DXY index, which measures its performance climbed above the 107 mark. The DXY index is now trading at the 107.40 level after surging 0.15% on Friday. The US treasury yields rose this month making the greenback strengthen in the charts. The move pushed gold prices below the $2,900 range making the XAU/USD index trade at $2,860 on Friday’s opening bell.

Leading investment bank Goldman Sachs predicted the future of the US dollar as de-dollarization looms. The global bank weighed the pros and cons of the currency markets and wrote in the latest note to stakeholders that the greenback will make a comeback.

Goldman Sachs Predicts the Future of the US Dollar Amid De-Dollarization

Global investment bank Goldman Sachs wrote in a note that the US dollar could get a boost despite de-dollarization as Trump’s tariffs could uplift the greenback. Goldman Sachs strategists Karen Reichgott Fishman and Lexi Kanter wrote that the US dollar looks attractive due to the tariffs.

Trump has vowed to protect the US dollar amid the onslaught of the de-dollarization agenda kick-started by developing nations. “Ultimately, not all tariffs are equal when it comes to FX,” the strategists wrote in a note. “But given the unwind of premium in key crosses in recent weeks, we once again think tariff risks look underpriced, making long dollar exposure now look even more attractive.”

Therefore, currency investors can take long positions in the US dollar now as its prospects look “more attractive”. Local currencies are under pressure due to tariffs and the USD is coming out on top. The Indian rupee has fallen to a lifetime low while the Chinese yuan and the Japanese yen have dipped to yearly lows. The development indicates that tariffs are working against de-dollarization and placing the US dollar on top.

@ Newshounds News™

Source:  Watcher Guru

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