Seeds of Wisdom RV and Economic Updates Sunday Afternoon 3-23-25

Good Afternoon Dinar Recaps,

SEC STAFF READY TO ‘WORK EARNESTLY’ TOWARD A FRAMEWORK FOR CRYPTO REGULATION, SAYS COMMISSIONER HESTER PEIRCE

The U.S. Securities and Exchange Commission (SEC) is ready to reset its relationship with the crypto industry, according to Commissioner Hester Peirce.

The SEC’s new “Crypto Task Force” held its inaugural roundtable event on Friday, which brought together regulators, private-sector lawyers and digital asset firm executives.

At the event, Peirce, a longtime crypto advocate, spoke of “a restart of the Commission’s approach to crypto regulation.”

“The formation of the Crypto Task Force gave permission to staff in the building to work earnestly towards a workable framework for crypto regulation, and staff have responded with palpable enthusiasm. The enthusiasm in this room is also palpable, so let us seize the moment and have a meaningful conversation today.

This room is full of people—on the panel, on the Crypto Task Force, on the Commission staff, and in the audience—who are ready for [the] sprint ahead. People have been talking, thinking, and writing about the issues with which we are now wrestling. The roundtable series will allow us to explore the issues collaboratively.”

Peirce leads the Crypto Task Force, which launched in January. The commissioner said last month that the team is currently working on questions related to the security status, public offerings, custody and secondary market trading of crypto assets.

irce/

@ Newshounds News™
Source:  DailyHodl

~~~~~~~~~

RIPPLE LAWSUIT NEWS: SEC DROPS CASE, BUT HERE’S THE WORST CASE SCENARIO

Ripple’s recent legal victory over the SEC has caused a huge stir in the crypto world. After a long legal battle, the SEC dropped its lawsuit against Ripple, which has left the industry buzzing with excitement. This decision marks a huge shift in how regulators will handle digital assets in the U.S., and it could set an important precedent for future cases.

Jeremy Hogan, a legal expert, provided a detailed breakdown of the current situation, explaining that while the SEC has dropped its appeal, it’s still unclear if Ripple has agreed to the same.

He said that the judgment from Judge Torres, which includes a $125 million penalty and an injunction, is the worst case scenario for Ripple. Here’s what could happen next:

1.  Ripple could continue appealing, seeking a court ruling on whether investment contracts require formal agreements.

2.  Ripple might agree to drop its appeal, returning the case to the trial court where both sides could try to amend the judgment.

3.  Ripple could drop its appeal and come to a private agreement with the SEC without modifying the judgment.

4.  Ripple might just pay the $125 million and move on without further legal action.

This outcome could have lasting effects on the crypto industry, as the SEC’s decision to back off from its aggressive stance signals a potential shift toward more clear and balanced regulatory guidelines

The legal victory clears a major roadblock for Ripple and sets the stage for the company to continue its mission of revolutionizing cross-border payments.

It also suggests a future where digital assets may be regulated under clearer rules, creating opportunities for growth in the industry. If Ripple can maintain this momentum, it could be a game-changer for the crypto space and offer a new path forward for digital currencies.

@ Newshounds News™
Source:  Coinpedia

~~~~~~~~~

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Another Great Depression Could Hit the US

Another Great Depression Could Hit the US

Sachs Realty:  3-23-2025

A prominent economist is raising concerns about the potential for a significant economic downturn, warning that a bursting “everything bubble” could trigger a recession on par with the Great Depression.

The economist, whose name we’ve omitted per your request, predicts this potential crisis could materialize as early as 2025, with a significant collapse in the housing market being a key contributing factor.

The term “everything bubble” refers to a scenario where asset prices across various sectors, including stocks, bonds, and real estate, are inflated beyond their intrinsic value. This is often fueled by low interest rates and excessive liquidity injected into the market, leading to speculative investments and unsustainable growth.

According to the economist, several factors are contributing to this precarious situation. The prolonged period of historically low interest rates, intended to stimulate economic growth, has inadvertently inflated asset prices. Combined with unprecedented government spending and supply chain disruptions stemming from global events, this has created a perfect storm for a potential market correction.

The economist specifically highlights the vulnerability of the housing market. After a period of rapid price appreciation, driven by low interest rates and high demand, the housing market is now facing headwinds. Rising mortgage rates, spurred by the Federal Reserve’s efforts to combat inflation, are already cooling demand and putting downward pressure on prices. A significant correction in housing prices could have far-reaching consequences.

The economist’s warning about a potential “Great Depression” is stark. While economic downturns are a normal part of the economic cycle, the severity of the potential crisis stems from the interconnectedness of the global financial system and the sheer scale of the “everything bubble.”

A bursting bubble could trigger a global recession with widespread unemployment, business failures, and social unrest. The comparison to the Great Depression is not hyperbole; it underscores the potential for a truly catastrophic economic event.

While the economist’s prediction is concerning, it’s important to remember that it’s just that: a prediction. Economic forecasts are notoriously difficult to make, and the future is not set in stone.

While the future remains uncertain, being prepared and informed is the best way to navigate potential economic challenges. The warning from this economist serves as a wake-up call to pay attention to the risks and take proactive steps to protect your financial well-being.

https://youtu.be/ylBVLY4WVfc

Iraq Economic News and Points to Ponder Sunday AM 3-23-25

Economist: Government Measures Are Insufficient To Resolve The Dollar Exchange Rate Crisis In Iraq

Time: 2025/03/22 Read: 1,515 times  {Economic: Al Furat News} Economic expert Basem Jamil Antoine confirmed today, Saturday, that the dollar exchange rate in Iraq is witnessing significant fluctuations, especially with the approach of Eid and the increase in shopping activity.

Antoine told Al Furat News Agency, "There are many factors that influence price stability, such as supply and demand, in addition to the psychological and social factors that drive the market."

He added, "These factors make it difficult to accurately measure the exchange rate," stressing that "current government measures are not sufficient to solve the problem. Rather, in-depth studies are needed that address all the economic and psychological dimensions of this crisis." LINK

Iraq Affirms Its Commitment To The Principles Of The Arab League

Saturday, March 22, 2025  Iraq's commitment to the principles of the League of Arab States and its support for its efforts to enhance Arab solidarity and defend just causes, foremost among which is the Palestinian cause.

A statement by the Ministry of Foreign Affairs said: "On the 80th anniversary of the founding of the League of Arab States, Iraq, as one of the founding states, affirms its commitment to the principles of the League and its support for its efforts to enhance Arab solidarity and defend just causes, foremost among which is the Palestinian cause."

The statement added that "the Ministry commends the important role played by the League in light of regional and international challenges," calling for "developing mechanisms for joint Arab action and enhancing economic and social integration, in a way that enhances the position of the Arab nation and achieves the aspirations of its peoples."

The Ministry affirmed, according to the statement, "its aspiration for a more cooperative future among Arab countries," noting "the Republic of Iraq's readiness to contribute effectively to achieving the League's goals and consolidating joint Arab action." / https://ninanews.com/Website/News/Details?key=1193396 

His Excellency The Governor Of The Central Bank - Zaid Al-Hilli

March 22, 2025  Open mouth, closed mouth

His Excellency the Governor of the Central Bank - Zaid Al-Hilli
I would not have intended to address this appeal directly to Your Excellency, as I am convinced that you are a man known for your humanity and that you understand the implications of this appeal.

 However, the numerous inquiries and appeals received from hundreds, perhaps thousands, of citizens in the media, including our newspaper, have prompted us to issue this appeal. We are hopeful that you will make your just decision during these blessed days of the holy month.

To summarize, there are private banks that failed to perform their duties for a variety of reasons we don't have the business of mentioning. This prompted the Central Bank to place them under its guardianship. Shareholders and depositors were delighted with the guardianship decision, hoping to rectify the situation of these banks and return them to strong operation. However, the matter took too long and became a disaster for citizens.

Citizens affected by the guardianship decision have been making intensive and persistent appeals to the media, even threatening to organize demonstrations to make their voices heard.

The phenomenon of placing many private banks under the guardianship of the Central Bank has begun to appear as a punishment for citizens who deposited their money or purchased shares in banks originally licensed by the Central Bank itself and established under valid government laws.

The "guillotine" of guardianship has eroded the remaining capital of these banks through rent payments, electricity and water bills, generator costs, employee salaries, and maintenance, all at the expense of the remaining funds of depositors and stockholders.

These are banks that are both open and closed! I ask: Wouldn't it be reasonable to end this anomalous situation, liquidate these companies, and distribute the remaining funds—which are a small amount—according to the creditors' apportionment system, instead of letting everything be lost, as happened with the Basra International Bank and others?

I have great hope in your wisdom and your usual humanity, because I believe that the prolonged guardianship situation may turn into a public opinion issue, although it is easy to solve.

Please, do not leave people alone to face this ordeal, some of whom are orphans, so rush to help those who have lost a small part of their savings, especially since we are in the last days of the blessed Ramadan. And be certain, Your Excellency, that the hand of charity is never empty, but rather God fills it with the blessings of giving. Please accept my highest respect and appreciation.  LINK

Washington Calls On Erbil To Expedite The Export Of Kurdistan's Oil

March 22, 2025  Erbil - Al-Zaman   US National Security Advisor Michael Waltz urged the Kurdistan Region to expedite the formation of a government and resume oil exports through the Turkish port of Ceyhan, which have been halted since March 2023.

The US advisor's request came during a phone call he made Friday evening with Kurdistan Regional Government Prime Minister Masrour Barzani to discuss "ways to strengthen relations between the Kurdistan Region and Iraq with the United States," according to a statement from the regional government.

Waltz and Barzani agreed on the "need to expedite the formation of the new Kurdistan Regional Government cabinet and reiterated their commitment to resuming Kurdistan Region oil exports as soon as possible."  LINK

Oil Expert: Oil Prices Rising To $72 Will Have A Positive Impact On The Iraqi Economy

Time: 2025/03/22 12:16:56 Read: 1,275 times  Economic: Al Furat News} Oil expert Hamza Al Jawahiri confirmed today, Saturday, that recording oil prices and Brent at an average of $72 per barrel has a positive impact on the prices of Basra crude and Iraqi oil in general.
Al-Jawahiri explained in a statement to Al-Furat News Agency, "Heavy Basra crude may be less valuable, but the rise in the prices of Brent crude and oil in general contributes to raising the value of the remaining Iraqi crudes."

Al-Jawahiri pointed out that "these prices are considered safe and good for the Iraqi economic situation," explaining that "any increase above $70 per barrel is safe and does not pose any economic problems for Iraq."   LINK

Basra Crude Ends Weekly Trading With Gains

Saturday, March 22, 2025, 11:33 AM | Economic Number of reads: 163 Baghdad / NINA / Basra Heavy and Medium crude oil prices recorded gains for the second week in a row on Saturday.

Basra Heavy crude closed in its last session with an increase of $2.24, reaching $70.04, and recorded weekly gains of $1.82, equivalent to 2.67%.

Basra Medium crude oil recorded an increase of $2.24 in its last session, reaching $73.09, recording weekly gains of $2.26, or 3.19%. /   https://ninanews.com/Website/News/Details?key=1193319

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

Seeds of Wisdom RV and Economic Updates Sunday Morning 3-23-25

Good Morning Dinar Recaps,

SEC HOLDS FIRST CRYPTO ROUNDTABLE TO REASSESS REGULATORY FRAMEWORK

Despite presenting contrasting arguments, advocates and skeptics conceded that crypto needs regulatory clarity in the US.

The US Securities and Exchange Commission (SEC) held its first crypto task force roundtable on March 21 to discuss regulation, which ended in a consensus that crypto needs regulatory clarity in the US despite diverging views among the panelists.

Panelists ranged from crypto advocates to skeptics and the session focused on longstanding debates, including the classification of digital assets and the limits of existing securities laws in addressing decentralized technologies.

Advocates defended decentralization as a gauge for determining whether a token is a security. At the same time, skeptics argued that the current definition by the Howey test works, as the SEC won more motions than lost.

The event marked a shift in tone from the SEC under former Chair Gary Gensler, who frequently characterized most crypto tokens as securities and pursued enforcement actions against major firms.

Legal definitions and the scope of securities law

Discussions extended to what characteristics of digital assets, if any, justify different treatment under the law. Crypto advocates at the event suggested that beyond asking whether something is a security, the more relevant question may be whether certain securities merit exemptive relief.

Proponents argued that one possible differentiator is the degree of control exerted by issuers, a concept that better captures the decentralized nature of many blockchain networks.

Lee Reiners, a lecturing fellow at the Duke Financial Economics Center, said that all panelists agree that Bitcoin (BTC) is not a security because it is sufficiently decentralized.

However, he added that drawing a line to define if something is sufficiently decentralized or an investment contract is impossible, citing a Commodity Futures Trading Commission (CFTC) report that divides decentralization by spectrums based on different aspects.

Investor risk and statutory authority

Skeptics of the crypto industry presented contrasting perspectives. Former SEC enforcement official John Reed Stark and the most vocal critic maintained that the agency’s responsibility is to protect investors who purchase digital assets.

Additionally, crypto critics argued that the Howey Test remains a sufficient legal standard and that the SEC’s track record of litigation success affirms its interpretive authority. Stark suggested that there is no need to reinvent the framework.

Despite these divisions, participants generally agreed that clearer definitions and regulatory consistency would benefit the industry and the SEC’s oversight responsibilities.

The roundtable represents the first in a series of efforts to modernize the agency’s stance on crypto markets while balancing investor protection with technological innovation. It signals the beginning of the regulator’s reassessment process.

@ Newshounds News™
Source:  CryptoSlate

~~~~~~~~~

RIPPLE PUSHES SEC WITH 3-STEP PLAN FOR CLEAR CRYPTO REGULATIONS

▪️Ripple criticizes past SEC leadership for creating regulatory confusion and urges a return to clear, existing securities laws.

▪️Ripple proposes the SEC focus on enforcing established laws, not creating new ones, to provide clarity for the crypto market.

▪️With the SEC dropping its appeal, the Ripple lawsuit nears resolution, highlighting the need for defined crypto regulations.  

Ripple is calling on the SEC to finally bring clarity to crypto regulations. The company argues that unclear rules have caused confusion for years, making it harder for businesses and investors to navigate the industry. 

This comes after Hester Peirce, head of the SEC’s Crypto Task Force, asked the public for input on how crypto assets should be classified. Her request, titled “There must be some way out of here,” signals an effort to fix the mess left by past SEC leadership.

But Ripple isn’t holding back. The company has strongly criticized the SEC’s previous approach, calling it inconsistent, overly complicated, and legally weak.

Now, Ripple is laying out a clear plan to cut through the confusion – one that could finally bring long-overdue regulatory clarity.

Ripple Criticizes Previous SEC Leadership

In its response, Ripple strongly criticized the SEC’s former chairman, Gary Gensler  arguing that the agency’s past approach to crypto regulation was unclear, overly complicated, and lacked legal support. Ripple suggested that the SEC intentionally created confusion to hide its failure to follow proper legal processes.

To fix this, Ripple outlined three key steps the SEC should take to improve regulatory clarity.

Ripple’s Three-Step Plan for Clearer Regulations

1. Focus on True Securities
Ripple believes the SEC should only regulate assets that legally qualify as securities under federal law. The company argued that many digital assets, especially those that do not generate profit or yield, should not be classified as securities.

2. Enforce Existing Laws Instead of Creating New Ones
Ripple urged the SEC to stick to the laws already in place instead of introducing new rules that could create further confusion. The company stressed that only Congress has the power to make new laws, and the SEC should focus on enforcing existing regulations.

3. Provide Clear Guidelines
Ripple called on the SEC to take a more transparent approach to crypto regulations. It praised the SEC’s decision to clarify that meme coins are not securities, saying such clear guidance helps reduce uncertainty in the market. Ripple is now pushing for similar clarity across the entire crypto industry.

Ripple vs. SEC Lawsuit Nears Its End

Meanwhile, the long-running legal battle between Ripple and the SEC is close to wrapping up. The SEC has dropped its appeal against Ripple, leaving only Ripple’s cross-appeal as the final step. Many legal experts believe Ripple will withdraw its appeal once a favorable agreement with the SEC is reached.

After years of regulatory chaos, the SEC and Ripple might finally be on the same page. The real question is: will crypto finally get the clarity it deserves?

@ Newshounds News™
Source:  Coinpedia

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Thank you Dinar Recapsee

“Tidbits From TNT” Sunday Morning 3-23-2025

TNT:

Tishwash:  Al-Sudani chairs a meeting to follow up on reform measures for the Rafidain and Rashid banks.

Prime Minister Mohammed Shia al-Sudani chaired a meeting on Sunday to follow up on reform measures at the Rafidain and Rashid banks.

Al-Sudani's office stated in a brief statement received by the Mail that "Prime Minister Mohammed Shia al-Sudani chaired a meeting to follow up on reform measures for the Rafidain and Rashid banks, in the presence of representatives from Ernst & Young   link

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

Tishwash:  Iraq contracts with China to build a medical city in Dhi Qar at a cost of 490 billion dinars.

Prime Minister Mohammed Shia al-Sudani sponsored, today, Saturday, the signing ceremony of the contract to establish the medical city in Dhi Qar Governorate, with the Chinese company (CSCEC), which is considered one of the largest contracts in the medical and healthcare sector.

Al-Sudani commended all the efforts made by the Dhi Qar Reconstruction Fund, the Ministry of Health, and other supporting agencies, which resulted in the signing of this 490 billion dinar contract, which will begin implementation soon.

He emphasized that Dhi Qar Governorate and its sacrificial people deserve the implementation of such a vital project, which will generate economic returns and prevent citizens from having to travel for medical treatment.

His Excellency affirmed that the Medical City project and the medical sector in general are at the top of the government's priorities, stressing the importance of continuing to implement projects in this sector, in order to proceed with the remaining structural reforms, especially the implementation of the health insurance law, and the projects to localize the pharmaceutical industry, which have achieved a qualitative leap.

He pointed to the government's efforts to implement seven hospitals in all governorates, complete the projects of lagging hospitals, and adopt a method of joint management and operation with international health institutions.

The Dhi Qar Medical City Project includes (13) independent medical facilities, including 7 hospitals with a total capacity of (700) beds, namely the main hospital with 200 beds, a specialized children's hospital with 100 beds, a specialized women's hospital with 100 beds, a blood diseases and oncology center with 100 beds, a specialized internal medicine and digestive system hospital with 100 beds, an emergency hospital with 50 beds, a consulting clinics complex, specialized centers, buildings for forensic medicine, research and studies, a blood bank, and a doctors' house.

 The first phase of the project will be built on an area of ​​93 dunums, while the second phase will be built on an area of ​​39 dunums.  link

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

Tishwash:  Forecasts of global economic variables and their impact on the Iraqi economy (2025-2030)

Samir Al-Nusairi

 In light of analyzing the current situation of international economic, political and security variables and the extent of their expected impact on the Iraqi economy.

And with a close eye to the challenges and crises that the national economy has gone through, influenced by the economic crises that the major economic countries have suffered from, and the strategic conflicts between America and China, and the bias of some countries towards the American strategy to lead the world economically, and other countries moving towards the strategy of China and some emerging countries to establish a new international economic pole to confront American hegemony.

One of the most prominent consequences of this conflict is the global energy and food crisis, which has lasted for more than a decade and continues to plague countries with weak, poor, and rentier economies, preventing them from making a structural and comprehensive transition to emerging economies capable of withstanding the impacts of global economic conflicts.

Since mid-June 2014 and until the first quarter of 2020, the Iraqi economy has faced complex and cumulative challenges due to shifts in the global economy, the slowdown in global economic growth due to the US-China conflict, the COVID-19 pandemic, the fight against terrorism, the decline in global oil prices, which reached rates exceeding 70%, and the economic recession. Most countries around the world have been affected by these repercussions, which have had a profound impact on the Iraqi economy. What concerns us is the outcome of these repercussions and the expectations, impacts, and implications for the current economic reality in Iraq in the coming years and until 2030.

In light of the study and analysis, the following can be expected at the level of the global economic system and its repercussions on Iraq:

Firstly, it is expected that the growth rates of the global economy will decline significantly in the American economy and the economies of the European Union countries, China and Russia, but at varying rates. The economic recession will prevail in most countries of the world and this will be reflected in a slowdown in the growth of the gross domestic product by rates ranging between (4-10%) in the Arab oil-producing and non-oil-producing countries, especially after the countries of the geographical region entered new challenges due to the Zionist aggression on Gaza, the West Bank, Lebanon, Syria and Yemen.

 This has created a new complex situation that will have negative effects on the national economy.

Secondly, the new global economic order that we expect to emerge in the coming years will inevitably take shape and will be under the clear economic and financial leadership of America and China. The Silk Road will be activated to include the countries through which it was planned to pass to revive their economies and will actually be completed. It is also expected that the development path will be completed and that there will be an important role for Iraq and the countries participating in the project and that this will have positive repercussions on the economy.

Thirdly, the philosophy of economic management will most likely shift from the capitalist market economy to the social market economy currently adopted as a disciplinary ideology, as in China and some other countries around the world. These are just early predictions, and the Arab economy will most likely be subservient to the new, larger and more economically powerful pole.

So what is required of economic decision-makers in Iraq in the face of these developments and changes expected to sweep the world? I see, with a penetrating analytical eye to the current economic reality, that we urgently need radical and comprehensive economic change and reform based on the following key axes:

First: Re-changing the map of national income resources by reducing dependence on oil as the main resource and activating other resources in the coming years to bring them to 30% of the total resources of the general budget.

Second: Radically and comprehensively changing agricultural, industrial, commercial, oil, energy and water policies by relying on local resources to ensure food and water security, encouraging, protecting and supporting local production, and developing programmes and strategies to protect consumers.

Third: Supporting, developing and stimulating the private sector and utilizing its capabilities, potential, capital and investments in building the national economy and involving it in economic decision-making and economic management.

Fourth: Developing clear strategies for coordination between monetary and fiscal policies, formulating clear financial policies, and restoring the foundations for preparing and presenting annual general budgets based on programs rather than items. Reducing the budget deficit to the legally specified percentage of the gross domestic product, as well as reducing domestic borrowing to the lowest possible level and avoiding borrowing from abroad at all.

Fifth: Completing the new methodology adopted by the Central Bank for banking reform and development and digital transformation in all digital fields, with a focus on implementing the Central Bank’s strategy, establishing the financial center, and using artificial intelligence in analyzing, ensuring transparency and accuracy of data for sound economic planning purposes and overcoming the challenges of instability in the financial and monetary systems.

This means developing coordinated and balanced plans to overcome the challenges of monetary policy, the challenges of the deficit in non-oil revenue, the deficit in the balance of payments and the trade balance, and the percentage of contribution of the productive sectors (the real economy) to the gross domestic product link

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

Mot: Guess Who!!! -- Sure Gets Around dont he!!!

Mot: A good listener

BRICS New Blockchain Payment System Changes Everything

BRICS New Blockchain Payment System Changes Everything

We Love Africa:  3-21-2025

The BRICS economic alliance, comprised of Brazil, Russia, India, China, and South Africa, is reportedly exploring blockchain technology as the foundation for a new payment system. This move underscores the bloc’s ongoing efforts to reduce reliance on the US dollar-dominated financial system and foster greater economic autonomy.

The development arrives at a pivotal moment, as the BRICS nations navigate a complex geopolitical landscape.

The collective has been actively pursuing de-dollarization strategies for some time, driven by factors such as a desire for greater control over their economies and a perceived need to reduce vulnerability to US economic policies.

This ambition has seemingly gained urgency, particularly in light of recent political developments.

Reports suggest that the bloc’s de-dollarization efforts have faced headwinds, particularly with the potential return of Donald Trump to the White House.

With Trump threatening substantial tariffs on BRICS nations – reportedly up to 150% – tensions have risen and the bloc’s unity has been tested. This threat has seemingly reinforced the determination of some members to accelerate the shift away from the US dollar, prompting the exploration of alternative financial infrastructures.

Blockchain technology, with its inherent security, transparency, and potential for decentralized operation, presents a compelling alternative to traditional payment systems. A BRICS-backed blockchain payment system could facilitate cross-border transactions between member nations without the need for US dollar intermediaries.

 This would potentially reduce transaction costs, enhance efficiency, and minimize the bloc’s vulnerability to US sanctions or economic pressure.

However, the implementation of such a system is not without its challenges. Coordinating the diverse economic and regulatory landscapes of the BRICS nations will require significant cooperation and technical expertise. Furthermore, ensuring the security and scalability of the blockchain infrastructure will be critical for its long-term success.

Despite the challenges, the potential benefits of a BRICS-backed blockchain payment system are significant. It could not only strengthen economic ties within the group but also provide a viable alternative for other countries seeking to diversify their financial relationships and reduce their dependence on the US dollar.

The exploration of blockchain technology for its payment system highlights the BRICS bloc’s commitment to reshaping the global financial landscape.

While the path forward may be complex and fraught with challenges, this move signifies a significant step towards greater economic independence and a more multipolar global order.

https://youtu.be/X9RfKAkdDdo

Seeds of Wisdom RV and Economic Updates Saturday Morning 3-22-25

Good Morning Dinar Recaps,

SEC HOLDS FIRST CRYPTO ROUNDTABLE TO REASSESS REGULATORY FRAMEWORK

Despite presenting contrasting arguments, advocates and skeptics conceded that crypto needs regulatory clarity in the US.

The US Securities and Exchange Commission (SEC) held its first crypto task force roundtable on March 21 to discuss regulation, which ended in a consensus that crypto needs regulatory clarity in the US despite diverging views among the panelists.

Panelists ranged from crypto advocates to skeptics and the session focused on longstanding debates, including the classification of digital assets and the limits of existing securities laws in addressing decentralized technologies.

Advocates defended decentralization as a gauge for determining whether a token is a security. At the same time, skeptics argued that the current definition by the Howey test works, as the SEC won more motions than lost.

The event marked a shift in tone from the SEC under former Chair Gary Gensler, who frequently characterized most crypto tokens as securities and pursued enforcement actions against major firms.

Legal definitions and the scope of securities law

Discussions extended to what characteristics of digital assets, if any, justify different treatment under the law. Crypto advocates at the event suggested that beyond asking whether something is a security, the more relevant question may be whether certain securities merit exemptive relief.

Proponents argued that one possible differentiator is the degree of control exerted by issuers, a concept that better captures the decentralized nature of many blockchain networks.

Lee Reiners, a lecturing fellow at the Duke Financial Economics Center, said that all panelists agree that Bitcoin (BTC) is not a security because it is sufficiently decentralized.

However, he added that drawing a line to define if something is sufficiently decentralized or an investment contract is impossible, citing a Commodity Futures Trading Commission (CFTC) report that divides decentralization by spectrums based on different aspects.

Investor risk and statutory authority

Skeptics of the crypto industry presented contrasting perspectives. Former SEC enforcement official John Reed Stark and the most vocal critic maintained that the agency’s responsibility is to protect investors who purchase digital assets.

Additionally, crypto critics argued that the Howey Test remains a sufficient legal standard and that the SEC’s track record of litigation success affirms its interpretive authority. Stark suggested that there is no need to reinvent the framework.

Despite these divisions, participants generally agreed that clearer definitions and regulatory consistency would benefit the industry and the SEC’s oversight responsibilities.

The roundtable represents the first in a series of efforts to modernize the agency’s stance on crypto markets while balancing investor protection with technological innovation. It signals the beginning of the regulator’s reassessment process.

@ Newshounds News™

Source:  CryptoSlate

~~~~~~~~~

RIPPLE PUSHES SEC WITH 3-STEP PLAN FOR CLEAR CRYPTO REGULATIONS

▪️Ripple criticizes past SEC leadership for creating regulatory confusion and urges a return to clear, existing securities laws.

▪️Ripple proposes the SEC focus on enforcing established laws, not creating new ones, to provide clarity for the crypto market.

▪️With the SEC dropping its appeal, the Ripple lawsuit nears resolution, highlighting the need for defined crypto regulations.  

Ripple is calling on the SEC to finally bring clarity to crypto regulations. The company argues that unclear rules have caused confusion for years, making it harder for businesses and investors to navigate the industry.

 This comes after Hester Peirce, head of the SEC’s Crypto Task Force, asked the public for input on how crypto assets should be classified. Her request, titled “There must be some way out of here,” signals an effort to fix the mess left by past SEC leadership.

But Ripple isn’t holding back. The company has strongly criticized the SEC’s previous approach, calling it inconsistent, overly complicated, and legally weak.

Now, Ripple is laying out a clear plan to cut through the confusion – one that could finally bring long-overdue regulatory clarity.

Ripple Criticizes Previous SEC Leadership

In its response, Ripple strongly criticized the SEC’s former chairman, Gary Gensler  arguing that the agency’s past approach to crypto regulation was unclear, overly complicated, and lacked legal support. Ripple suggested that the SEC intentionally created confusion to hide its failure to follow proper legal processes.

To fix this, Ripple outlined three key steps the SEC should take to improve regulatory clarity.

Ripple’s Three-Step Plan for Clearer Regulations

1. Focus on True Securities
Ripple believes the SEC should only regulate assets that legally qualify as securities under federal law. The company argued that many digital assets, especially those that do not generate profit or yield, should not be classified as securities.

2. Enforce Existing Laws Instead of Creating New Ones
Ripple urged the SEC to stick to the laws already in place instead of introducing new rules that could create further confusion. The company stressed that only Congress has the power to make new laws, and the SEC should focus on enforcing existing regulations.

3. Provide Clear Guidelines
Ripple called on the SEC to take a more transparent approach to crypto regulations. It praised the SEC’s decision to clarify that meme coins are not securities, saying such clear guidance helps reduce uncertainty in the market. Ripple is now pushing for similar clarity across the entire crypto industry.

Ripple vs. SEC Lawsuit Nears Its End

Meanwhile, the long-running legal battle between Ripple and the SEC is close to wrapping up. The SEC has dropped its appeal against Ripple, leaving only Ripple’s cross-appeal as the final step. Many legal experts believe Ripple will withdraw its appeal once a favorable agreement with the SEC is reached.

After years of regulatory chaos, the SEC and Ripple might finally be on the same page. The real question is: will crypto finally get the clarity it deserves?

@ Newshounds News™
Source:  Coinpedia

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

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“Tidbits From TNT” Saturday Morning 3-22-2025

TNT:

Tishwash:  Rafidain Bank deploys ATMs at 5 stations in Baghdad

Rafidain Bank announced today, Friday, the deployment of ATMs at five stations in Baghdad.

In a statement received by Al-Maalouma Agency, the bank stated that “as part of its ongoing efforts to enhance financial inclusion and facilitate access to banking services to various segments of society, Rafidain Bank announced the deployment of automated teller machines (ATMs) at a number of stations, allowing customers to conduct withdrawals and deposits easily and safely around the clock, and without any commission.”

He added, “This step comes as part of a strategy to expand the scope of digital banking services, contributing to the integration of more individuals into the banking system and enabling them to benefit from modern financial solutions without the need to visit traditional branches.”

The bank affirmed its commitment to “developing its banking infrastructure and deploying more ATMs in various areas, including malls and commercial centers, to ensure the provision of more efficient financial services and achieve the bank’s vision of promoting financial inclusion and offering innovative banking solutions that meet the needs of all citizens.”

He added, "This service can now be accessed through the devices available 24 hours a day at the following stations:

 • Station No. 13 - Al-Bayaa

 • Station No. 14 - Al-Amiriya / Popular Work Street

 • Station No. 18 - Al-Saydiyah

 • Station No. 19 - Al-Hussein neighborhood

 • Station No. 20 - Al-Jihad neighborhood.

The bank affirmed its continued development of its digital services, enhancing access to financial solutions and supporting the transition to a more inclusive and innovative digital economy, link

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Tishwash:  Erbil and Washington agree on the need to resume Kurdistan oil exports as soon as possible.

Kurdistan Regional Government Prime Minister Masrour Barzani discussed a number of important issues in a phone call on Friday evening (March 21, 2025) with US National Security Advisor Michael Waltz.

A statement from the Kurdistan Regional Government, received by Baghdad Today, stated that "during the phone call, the Prime Minister and the US National Security Advisor discussed ways to strengthen relations between the Kurdistan Region and Iraq with the United States."

The two sides also agreed, according to the statement, "on the need to expedite the formation of the new ministerial cabinet for the regional government, and they also reaffirmed the resumption of the Kurdistan Region's oil exports as soon as possible."

In another context of the phone call, the two sides exchanged views on the rapid developments taking place in the Middle East, stressing the importance of preserving the security and stability of the region, according to the statement.  link

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Tishwash:  Sources: Qaani Warned Iraqi Factions Against "Provoking the Americans"

 Houthis Close Headquarters in Central Baghdad Following Advice from the Coordination Framework

Reliable sources revealed to Asharq Al-Awsat the contents of an Iranian message to leaders of Shiite factions in Iraq, which included strict instructions to "not provoke the Americans and Israelis," warning of attacks on Baghdad similar to those targeting the Houthi group in Yemen.

For weeks, Iraqi groups loyal to Tehran have shown a marked decline in their hostile activities under international pressure and US attacks on the Houthis.

The sources said that Esmail Qaani, commander of the Quds Force of the Iranian Revolutionary Guard Corps, delivered a message from the Iranian leadership during a recent visit to Iraq.

Qaani warned the faction leaders that "US military attacks against Houthi facilities could quickly backfire on Baghdad."

Qaani called on Iraqi factions to "refrain from engaging in any military activity during this sensitive period," and stressed the need to "take further measures to stop or reduce armed manifestations."

The sources quoted a Shiite faction commander as saying that "Qaani conveyed strict instructions from the Iranian leadership urging Iraqi parties to avoid all forms of provocation against the Americans or Israelis." He said that "a single spark could open a front in Iraq." He added, "The leaders of the Iraqi factions were comforted by the message due to the intense pressure they have been facing for months."

The sources reported that "Tehran's assessment is that the Americans will not hesitate to carry out attacks against targets inside Iraq if the factions show a field response in support of the Houthis."

Reports indicated that Qaani visited the capital, Baghdad, last week and met with politicians in the "Coordination Framework" and leaders of armed factions.

Qaani's visits to Baghdad are often shrouded in secrecy, but his meetings focused on representatives of pro-Tehran groups and prominent leaders in the ruling coalition.

Reports claimed that Qaani renewed "Tehran's commitment to support its allies in Baghdad if they come under pressure from the US."  link

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Mot: . The gardens and plants are waking up and I am loving it!

Mot: Yeppers... Ya knows - Sometimes I ~~~~

MilitiaMan & Crew-Iraq Dinar News-Salaries mid Next Week-Non Oil Revenues-Digital Currency-Central Bank of Iraq

MilitiaMan & Crew-Iraq Dinar News-Salaries mid Next Week-Non Oil Revenues-Digital Currency-Central Bank of Iraq

3-21-2025

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=nSrE38pBdm0

Seeds of Wisdom RV and Economic Updates Friday Afternoon 3-21-25

Good Afternoon Dinar Recaps,

UAE COMMITS TO $1.4 TRILLION US INVESTMENT, WHITE HOUSE SAYS

WASHINGTON/DUBAI, March 21 (Reuters) - The United Arab Emirates has committed to a 10-year, $1.4 trillion investment framework in the United States after top UAE officials met President Donald Trump this week, the White House said on Friday.

The framework will "substantially increase the UAE's existing investments in the U.S. economy" in AI infrastructure, semiconductors, energy, and manufacturing, the White House said in a statement.

The White House did not outline how UAE investments would reach $1.4 trillion, with some of the deals unveiled as part of the framework having already been announced.

The only fully new deal appeared to be an investment by Emirates Global Aluminium in what would be the first new aluminum smelter in the United States in 35 years, the White House said, adding the plant "would nearly double U.S. domestic aluminum production".

"Developing a primary aluminium smelter in the U.S. has been part of EGA's ambitions for several years," a spokesperson for the firm said in a statement.

The UAE, an oil producer and longtime security partner of the U.S., is looking to deepen investment ties with Washington and is emerging as a global leader in AI, one of the sectors it is betting on to diversify its economy away from energy.

In September, UAE President Sheikh Mohamed bin Zayed Al Nahyan met former U.S. President Joe Biden, in the first visit of a UAE president to the White House, as the two leaders discussed deepening cooperation in areas such as AI, investments and space exploration.

Gulf sovereign wealth funds, including Abu Dhabi's $330-billion Mubadala, are already big U.S. investors, and Trump and his family have business ties to the region.

OVAL OFFICE MEETING

Trump in January asked Saudi Arabia to spend upwards of $1 trillion in the U.S. economy, over four years, including purchases of military equipment, and said this month he likely would make his first trip abroad to the Gulf country to seal an investment agreement.

The deal, which could happen between this month or the next, would come at a time when Saudi Arabia, the Arab world's biggest economy, has been taking a more prominent role in U.S. foreign policy. The Gulf country is set to host diplomatic talks around Ukraine involving the United States and Russia next week.

The White House said on Friday the UAE agreement resulted from a meeting that Trump held on Tuesday with national security adviser Sheikh Tahnoon bin Zayed Al Nahyan in the Oval Office and a dinner that Vice President JD Vance and several cabinet members held with the UAE delegation, which included the heads of major UAE sovereign wealth funds and corporations.

Among the tie-ups highlighted on Friday was a partnership between UAE sovereign wealth fund ADQ, which is chaired by Sheikh Tahnoon, and U.S. private equity firm Energy Capital Partners, for a $25 billion U.S.-focused initiative to invest in energy infrastructure and data centers. That had been previously announced two days ago.

A commitment by XRG, the international investment arm of UAE state oil company ADNOC launched in November, to support U.S. natural gas production and exports with an investment in the NextDecade liquefied natural gas export facility in Texas, had previously been made public last year by ADNOC, under Biden.
https://www.reuters.com/world/after-trump-meeting-uae-commits-10-year-14-trillion-investment-framework-us-2025-03-21/

@ Newshounds News™
Source:  

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AUSTRALIA OUTLINES CRYPTO REGULATION PLAN, PROMISES ACTION ON DEBANKING

The Albanese-led government intends to release draft legislation in 2025 for public consultation and promised to work with Australia’s four largest banks to better understand de-banking.

Australia’s government, under its ruling center-left Labor Party, has proposed a new crypto framework regulating exchanges under existing financial services laws and has promised to tackle debanking.

It comes ahead of a federal election slated to be held on or before May 17, which current polling shows is shaping up to a dead heat between Prime Minister Anthony Albanese’s Labor and the opposing Coalition led by Peter Dutton.

The Treasury Department said in a March 21 statement that crypto exchanges, custody services and some brokerage firms that trade or store crypto will come under the new laws.

The regime imposes similar compliance requirements as other financial services in the country, such as following rules safeguarding customer assets, obtaining an Australian Financial Services Licence and meeting minimum capital requirements.

In August 2022, the government initiated a series of industry consultations to draft a crypto regulatory framework.

“Our legislative reforms will extend existing financial services laws to key digital asset platforms, but not to all of the digital asset ecosystem,” the Treasury said in its statement.

Small-scale and startup platforms that don’t meet specific size thresholds will be exempt, along with firms that develop blockchain-related software or create digital assets that aren’t financial products.

Payment stablecoins will be treated as a type of stored-value facility under the Government’s Payments Licensing Reforms; however, some stablecoins and wrapped tokens will be exempt.

“Dealing or secondary market trading in these products will be not treated as a dealing activity, and platforms where they are traded will not be treated as operating a market simply because of that trading activity,” the Treasury said.

As part of its crypto agenda, Albanese’s government has also promised to work with Australia’s four largest banks to better understand the extent and nature of de-banking.

There will also be a review into a central bank digital currency and an Enhanced Regulatory Sandbox in 2025, allowing businesses to test new financial products without needing a license.

Albanese’s government intends to release a draft of the legislation for public consultation. However, a change of government could be on the horizon with a looming federal election, a date for which is yet to be called.

Dutton’s center-right Coalition had earlier promised to prioritize crypto regulation if it wins the election.

The latest YouGov poll published on March 20 shows the Coalition and Labor neck in neck for a two-party preferred vote.

Caroline Bowler, the CEO of local crypto exchange BTC Markets, said in a statement shared with Cointelegraph that the areas of reform are sensible and would keep Australia competitive with global peers.

However, she thinks there “will be additional detail required on capital adequacy and custody requirements.”

“We need to ensure that these requirements aren’t overly burdensome for business investment in Australia,” Bowler said.

Kraken Australia’s managing director, Jonathon Miller, said there is an “urgent need for bespoke crypto legislation” to address the existing confusion and uncertainty in the country’s industry.

“We believe that by establishing a clear crypto regulatory framework and mitigating problems like debanking, government can remove the barriers hampering growth in the Australian economy,” he said.

@ Newshounds News™
Source:  CoinTelegraph

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BRICS Just Took Another Step against the US Dollar

BRICS Just Took Another Step against the US Dollar

Geopolitical Analyst:  3-20-2025

The landscape of global finance is shifting, and the BRICS nations – Brazil, Russia, India, China, and South Africa – are at the forefront of a potential revolution.

In a bold move that challenges the long-standing dominance of the US dollar, BRICS finance ministers recently finalized a new payment mechanism designed to bypass the dollar in international trade.

 But what does this actually mean, how will it affect the flow of goods and money around the world, and most importantly, how could it impact you?

For years, the BRICS nations have been subtly chipping away at the US dollar’s seemingly unshakeable reign. This recent agreement marks a significant escalation, signaling a clear intention to de-dollarize international trade and reclaim economic sovereignty. But why is this such a monumental development?

The US dollar has been the world’s undisputed reserve currency for decades, facilitating over 88% of global foreign exchange transactions. Its stability and widespread acceptance have made it the go-to currency for international trade and a crucial asset for many nations to stabilize their economies. However, the BRICS nations are now resolutely saying, “No more.”

The recent steps taken by the BRICS nations are already sending ripples throughout the global financial system. The international monetary order, which has been heavily reliant on the US dollar for decades, is facing an unprecedented challenge. If these trends continue, the dollar’s dominance could weaken considerably over the next decade.

A key driver behind this shift is the growing frustration amongst many countries, particularly in the developing world, regarding their dependence on the US-led financial system.

The present global financial infrastructure grants the US considerable leverage over other nations, enabling Washington to impose sanctions, restrict access to the SWIFT payment system, and influence international lending institutions like the International Monetary Fund (IMF) and the World Bank.

The BRICS nations’ move to de-dollarize is not just a financial maneuver, it’s a statement of intent. It represents a desire for greater economic independence and a challenge to the established global financial order.

As this movement gains momentum, it will undoubtedly reshape the future of global trade and have a ripple effect on economies and individuals around the world. It’s a development worth watching closely, as it could redefine the economic landscape for years to come.

https://youtu.be/NIFz39ETgtc

Seeds of Wisdom RV and Economic Updates Friday Morning 3-21-25

Good Morning Dinar Recaps,

SEC’S OFFICIAL STATEMENT ON RIPPLE LAWSUIT STILL PENDING: HERE’S WHAT WE CAN EXPECT

Brad Garlinghouse, CEO of Ripple, recently announced that the SEC has finally dropped its appeal against Ripple, marking the end of a lengthy legal battle that lasted over three years. The SEC has decided not to pursue further legal action, confirming that Ripple is no longer under threat from the regulatory body.

This decision has had an immediate impact on XRP’s price, which surged following the announcement. The legal saga, which began with the SEC’s claim that Ripple violated securities laws by selling XRP, has been a major point of contention in the cryptocurrency space.

Fox Business journalist Eleanor Terrett responded, explaining that the SEC still needs to formally approve the withdrawal of its appeal. Once the Commission gives the green light, they can expect a press release similar to the one issued earlier this year when the SEC dismissed its lawsuit against Coinbase.

Terrett added that the SEC typically addresses matters of litigation and enforcement during their closed meetings. The dismissal of the Ripple case will likely be discussed at one of these meetings, which is scheduled for next Thursday.

@ Newshounds News™
Source:  Coinpedia and Twitter

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RIPPLE CEO PREDICTS NEW RLUSD CRYPTO TO BE TOP 5 STABLECOIN BY YEAR END FOLLOWING SEC’S DROPPED XRP LAWSUIT

Ripple CEO Brad Garlinghouse says the firm’s dollar-pegged crypto asset will become a top stablecoin by the end of the year after the U.S. Securities and Exchange Commission (SEC) dropped its lawsuit against the payments platform.

In a new interview, Garlinghouse says that RLUSD – which launched in December 2024 – will grow into a top-five stablecoin after the regulatory agency dropped its lawsuit against Ripple Labs for allegedly violating securities law.

According to Garlinghouse, the stablecoins sector of the industry should see massive growth in the next few years.

“I think we’re underestimating how big [stablecoins] might get. Today, that market is about $230 billion. Some smart people think that may go up 10x in the next five years – I think that’s probably right…

Ripple launched its own stablecoin at the end of the last year that’s already ahead of our own internal forecast in terms of where we are at this point…

We’re still really small, but the goal is by the end of the year, for RLUSD, Ripple’s stablecoin, to be one of the top five in the market, and I think the whole market is going to grow dramatically this year.”

Earlier this week, the SEC announced it is dropping its case against Ripple Labs for allegedly selling unregistered securities, causing XRP, the digital asset associated with the firm, to rally.

Ripple was initially sued by the SEC in 2020, but a judge in 2022 ruled that the open-market sales of XRP to retail investors do not qualify as securities.

XRP is trading for $2.47 at time of writing, a 2.4% decrease on the day while RLUSD has a market cap of $169.6 billion.

@ Newshounds News™

Source:  DailyHodl

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“Tidbits From TNT” Friday Morning 3-21-2025

TNT:

Tishwash:  Minister of Finance Stresses Importance of Modernizing Debt Management and Financial Analysis from Geneva

Minister of Finance Taif Sami stressed the importance of modernizing debt management and committing to developing financial management mechanisms and enhancing transparency to support economic sustainability.

The Ministry of Finance stated in a statement received by the Iraqi News Agency (INA), "Minister of Finance Taif Sami participated today, Thursday, in the opening session of the United Nations Trade and Development Advisory Group meeting taking place in Geneva. The meeting aims to enhance the efficiency of debt management and develop financial analysis mechanisms in line with national and international strategies."

She added, "The session addressed the follow-up on the implementation of the Data Management Financial Services (DAMFAD) program for the period from 2020 to 2024, in addition to discussing the strategic plan for the next period (2025-2028), with a focus on ways to continuously develop and update the approved mechanisms.

The meeting also included a discussion session bringing together current and potential users of DAMFAD, providing an opportunity to exchange experiences and opinions to enhance the quality of services provided."

She continued, "As part of enhancing international cooperation, a donor consultation meeting was held to expand the financial support network. This reflects the Ministry of Finance's commitment to working together with all relevant stakeholders to achieve national financial goals.

 The conference also witnessed the release of the seventh generation of the DAMFAD system, with the United Nations Conference on Trade and Development (UNCTAD) affirming its continued support for the Ministry of Finance and the Public Debt Department. UNCTAD representatives expressed their willingness to provide the necessary training for public debt cadres on the new system, which will contribute to enhancing debt management efficiency and achieving greater financial transparency."

During the conference, the Minister emphasized the importance of modernizing debt management and the commitment to developing financial management mechanisms and enhancing transparency to support economic sustainability.

This event is an important step within the Ministry's strategy to achieve higher financial efficiency, enhance economic stability, and build greater confidence in the national financial system.  link

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Tishwash:  A source told Baghdad Today the reason for the stalled oil negotiations between Baghdad and Erbil. 

An informed source reported on Thursday (March 20, 2025) that the meeting between the delegations of the federal government and the Kurdistan Region increased tensions between the two parties, instead of reaching solutions.

The source added to Baghdad Today that "the reason for this is the federal delegation's insistence on handing over management of the central oil fields, which are managed by the regional government."

He pointed out that "the federal authorities insist on handing it over to them, so that the British company BP can invest in it."

He concluded by saying, "During the meeting, it was decided to send specialized technical teams to monitor the progress of work in the fields, audit production volumes, and monitor the quantities being exported by truck."

In turn, the regional government spokesman, Peshwa Hawrami, said, "We have declared since the beginning of the dispute with the federal government that we have nothing to hide regarding financial matters, oil, and other issues."

Kurdistan Regional Government Prime Minister Masrour Barzani had previously stated that the contract between the British company and the Iraqi government concerned "disputed areas." 

It's worth noting that the Kurdistan Region of Iraq lost approximately $20 billion in oil revenues as a result of the Iraqi government's victory in a case at the International Court of Justice, which barred Turkey from exporting resources from the Kurdistan Region without first obtaining the approval of the Baghdad government. The ban on exporting resources from the region remains in place to this day. link

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Tishwash:  Central Bank: Digital currency reduces cash flow outside banks

On Thursday, March 20, 2025, the Governor of the Central Bank of Iraq, Ali Al-Alaq, described digital currency as "limiting the flow of cash outside banks." He also spoke of a plan to establish a data center that would serve as a foundation for digital transformation.

The Iraqi government faces challenges in managing dinar liquidity, as it suffers from a chronic shortage of this currency, affecting its ability to meet its financial obligations to pay employee salaries, repay debts, and finance projects.

Al-Alaq said in a press statement followed by Al-Jabal, "Financial technologies are developing rapidly, in line with the requirements of the financial and banking sector in terms of speed, accuracy, and economic efficiency, in addition to transparency and oversight. The reality of the digital revolution is imposing itself on all sectors, including the financial and banking sector, which stands to benefit most from the major transformations taking place."

 He added, "Digital currency can serve many purposes, limiting the flow of cash outside banks and achieving a high degree of transparency, as funds can be tracked, whether in consumption, investment, savings, or even in legitimate and illegitimate businesses. It also provides important databases for analytical purposes, not just for the movement of paper money. In addition, digital currency offers economies of scale, including the ability to print and track currency."

 Al-Alaq explained, "We have begun taking steps in coordination with international organizations to review initial experiments in the digital currency file, which we do not wish to delay." He noted, "There are existing experiments in some countries in the region, and we are also following up with the Arab Monetary Fund to develop appropriate steps in this direction, and what is required is infrastructure."

 He continued, "The Central Bank possesses advanced infrastructure. The new bank building houses a sophisticated data center, and we are working to establish a data center that will represent a successful foundation for digital transformation."

 The Central Bank of Iraq previously announced its move to issue a digital currency as an alternative to paper currency, a shift that could reshape the payments landscape and the national economy entirely.

 This move comes in response to "increasing challenges in managing traditional cash," amid a global trend toward financial digitization.

 Al-Alaq said, "The financial and banking system will witness fundamental transformations, including the decline of paper currencies and their replacement by digital payments by central banks."

He explained that "the Central Bank is moving to create its own digital currency to gradually replace paper transactions, as is happening at some central banks around the world  link

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Mot: Was going to Scratch this un - but NO!! - Decided to Share anyways 

Mot HUH!!!????