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!!!???? 

Seeds of Wisdom RV and Economic Updates Thursday Evening 3-20-25

Good Evening Dinar Recaps,

JUST IN: PRESIDENT TRUMP DECLARES END TO CRYPTO ‘WAR’

At the Digital Asset Summit 2025, President Donald Trump spoke via video, sharing his vision for the U.S. to lead in the world of crypto and financial technologies. He expressed that while it won’t be easy, the U.S. is already ahead, having hosted the first-ever White House Digital Summit just two weeks ago.

The summit brought together top leaders in the crypto space for discussions led by Crypto Czar David Sachs. Trump also reflected on his recent executive order to create a Strategic Bitcoin Reserve and U.S. Digital Asset Stockpile, which will help the government maximize the value of its crypto holdings, unlike the previous administration’s actions.

Trump went on to criticize the past administration’s approach to crypto, particularly its regulatory actions, calling them a misuse of government power. He said that with his leadership, the U.S. is ending this regulatory “war” and promised a more supportive environment for crypto. 

Trump also called on Congress to pass clear, sensible regulations for stablecoins and market structures, which would help boost innovation and investment in the industry.

“We are ending the previous administration’s regulatory war on crypto and Bitcoin, which includes stopping the lawless ‘Operation Chokepoint 2.0.’ This operation went far beyond regulation — it was a form of government weaponization, and frankly, it was a disgrace. But as of January 20, 2025, all of that is over,” he said.

He concluded by expressing excitement about the energy of the crypto community, believing it embodies the spirit that built America, and reaffirming that the future of finance will be led by the U.S.

The Strategic Bitcoin Reserve will hold about 200,000 bitcoins that have been seized by federal agencies. The U.S. Digital Asset Stockpile will include other types of digital assets, also seized through legal processes. 

The Treasury will oversee these assets and decide how to manage or sell them if needed. The goal of this executive order is to centralize and properly manage the country’s digital assets, ensuring their value is maximized.

@ Newshounds News™

Source:  Coinpedia

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TRUMP IS TAKING ON THE FED—WITH CRYPTO AS THE TIP OF THE SPEAR

Anticipated moves by President Trump and Senate Republicans appear intent on using crypto policy to achieve a broader goal: ending the Fed’s independence.

As President Donald Trump continues to test the limits of executive authority by reshaping all manner of U.S. government agencies, one such battle appears poised to rope in the cryptocurrency industry: a brewing war against the Federal Reserve and its publicly stated mission to remain independent.

Since the early 1950s, the Fed has enjoyed final say on key decisions related to the American banking system and U.S. monetary policy. Now the Trump administration and its Republican allies in Congress appear intent on taking over some of that decision-making—first and foremost via numerous crypto-related policy initiatives.

As Decrypt reported last week, the White House is planning to soon issue another cryptocurrency-focused executive order that will, among other things, likely direct the Fed to change its policies on withholding coveted master accounts from so-called crypto banks—financial institutions that possess banking licenses but also offer crypto custody services to their clients.

Master accounts, which allow banks to access the Fed’s financial services, are crucial for serving customers at scale. Should crypto banks finally receive such approval, the development would constitute a massive victory for the digital assets industry.

Only the precious few crypto-focused banks that are registered as depository institutions, such as Kraken Financial, a subdivision of the cryptocurrency exchange Kraken, and Caitlin Long’s Custodia, would be immediately eligible to receive master accounts.

Master account approvals have, for decades, been the final say of the Fed’s seven-member board of governors. And while those governors are appointed by the president, their decisions have not been openly overridden by the executive branch ever since an informal agreement granted them policy-making independence in 1951, according to the Fed.

Last month, Trump laid the groundwork to begin undoing that understanding by signing an executive order declaring he had the right to dictate the Fed’s policies related to the “supervision and regulation of financial institutions.” That policy category would likely include the Fed’s decision-making related to master accounts.

Trump’s order did make the caveat that the Fed will continue to shape its own “monetary policy” on sensitive matters like interest rates. But efforts are brewing in Washington to undo even the Fed’s monetary policy independence—and once again, those plans run straight through the crypto industry.

Last week, Sen. Cynthia Lummis (R-WY) introduced a bill, the Bitcoin Act, that would obligate the U.S. government to buy some $80 billion worth of Bitcoin in an effort to bolster a federal Strategic Bitcoin Reserve. That huge sum of crypto would be paid for, chiefly, by a scheme that would compel the Fed to have its Nixon-era gold certificates reissued at market prices.

Because gold has appreciated by some 6,000% in the intervening years, new gold certificates would theoretically be worth hundreds of billions more than the old ones. The Fed would receive these new, more valuable certificates—but then have to immediately fork over $80 billion to the Treasury Secretary to fund Bitcoin purchases.

A Capitol Hill source with direct knowledge of the thinking that went into the Bitcoin Act told Decrypt that no one has yet tried to tap into such a fundraising mechanism because, for decades, legislators and presidents alike have been hesitant to explicitly direct the Fed.

That position has now changed.

“The view [behind the Bitcoin Act] is in line with the president’s, that there’s no such thing as an independent agency,” the source said. “The Federal Reserve can be instructed, especially through legislation.”

The Capitol Hill insider added that Republicans have likely been emboldened in recent years to take a stronger stance on overseeing the policies of ostensibly independent federal agencies because of the perceived politicization of these agencies, exemplified by the alleged political targeting that took place in the anti-crypto “Operation Chokepoint 2.0.”

Trump is by no means the first president to push against the Fed’s independence in the modern era. Presidents from both parties have pressured the Fed to enact or undo certain policies.

In 1965, President Lyndon Johnson went so far as to physically assault then-Fed chair William McChesney Martin over a disagreement about raising interest rates, according to one biographer.

But still, since the 1950s, no president has successfully managed, or meaningfully tried, to rip key decision-making powers back from the Fed’s governors—at least not explicitly.

 Should Trump and his congressional allies keep pressing forward on that goal—and should crypto policy become the tip of that spear—how might the digital assets industry react?

One crypto lobbyist told Decrypt that the Trump administration appears to be using crypto-related policy as a “test case” for reclaiming control over independent agencies.

On one hand, those efforts could unlock crucial victories crypto leaders wouldn’t have dared dream of even a year ago.

On the other hand, the same moves could not only end up in contentious litigation, but also associate the crypto industry—which has tried desperately to avoid political polarization—with a precedent-bucking agenda that is increasingly testing the limits of the U.S. Constitution.

“I can't tell yet if it’s a good thing or a bad thing,” the crypto lobbyist said. “But we’ll take it. Right?”

@ Newshounds News™

Source:  Decrypt

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Some “Iraq News” Posted by Clare at KTFA 3-20-2025

KTFA:

Clare:  A Government bank launches "electronic loans" for four categories

3/20/2025

The state-run Rashid Bank announced on Thursday the launch of personal loans for employees, security forces personnel, and retirees whose salaries are domiciled at the bank, as well as entrepreneurship loans.

The bank clarified in a statement received by Shafaq News Agency, "The application must be submitted exclusively through the Rasheed Bank's electronic application."   LINK

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Clare:  A government meeting discusses the establishment of a private company for the development road project.

3/20/2025

Prime Minister Mohammed Shia al-Sudani chaired the regular meeting of the Higher Committee for Monitoring the Implementation of the Development Road Project on Thursday, in the presence of the Ministers of Transport and Industry, the Chairman of the Investment Commission, the Chairman of the Iraq Development Fund, the Director General of Ports, and representatives of Oliver Wyman, which is providing consulting services for the project.

 A statement from the Prime Minister's Office, a copy of which was received by {Euphrates News}, stated that "the meeting followed up on the project's developments, the progress of work in all its details, and discussed establishing a private company for it, in addition to matters related to the conflicts that affect the progress of work on the railway and the highway, the designs of which have been completed, and the progress made in the subject of expropriations, antiquities, and the treatment of the remains of minefields."
The statement added, "The meeting reviewed the Grand Faw Port project and its key developments, such as the submerged tunnel and container yard. A vision was presented regarding the port's expected imports over the coming years, in addition to discussing the costs of insurance and maritime services."

The meeting discussed "the issue of identifying and arranging economic opportunities for the financial model, as well as discussing the investment zones that will be offered for investment along the development path."   LINK

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Clare:  Iraq attempts to encourage Amazon to build facilities in Iraq

3/20/2025  Baghdad –

The Director of the General Company for Post and Savings, Zainab Abdul-Sahib, revealed on Wednesday that the Iraqi Ministry of Communications is trying to encourage Amazon and SHEIN to establish branches in Iraq.

In a statement to the state news agency (INA), Abdul-Sahib said that the required facilities and warehouses to establish branches of international e-commerce companies in Iraq have been set up.

The Iraqi official explained that the launch of an e-commerce platform in Iraq has become imminent.

Plans have been developed for 2025 following the establishment of the fundamental infrastructure by the Ministry of Communications, according to Abdul-Sahib.

In order to stay up with global developments, the Iraqi government started planning in 2023 to turn the country’s postal system into automated services as part of its digital transformation initiatives.

Increased internet penetration and changing consumer behavior are two factors that have contributed to the enormous growth in e-commerce in Iraq in recent years. Additionally, this change has increased Iraq’s need for trustworthy e-commerce platforms.  LINK

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Clare:  US Urges Iraq to Reach Agreements to Allow Resumption of Kurdish Oil Exports

3/20/2025

WASHINGTON DC, United States (Kurdistan 24) 

Addressing reporters on Wednesday, State Department Spokesperson Tammy Bruce explained that the U.S. was “urging the Iraqi Government” to reach an understanding with the international oil companies to allow the resumption of oil exports from the Kurdistan Region.

According to Iraqi authorities, those exports are to restart shortly. although the international oil companies say that more discussion is needed to reach an agreement that will allow for the export of Kurdish oil.

As one knowledgeable source told Kurdistan 24, that developments have come as far as this has a lot to do with the pressure exerted by the Trump administration on Baghdad, including the pro-Iranian elements there.

As a second source affirmed to Kurdistan 24, the Trump administration is very friendly toward the Kurdistan Region.

That was apparent, for example, in a post last week by President Donald Trump on X, highlighting the role of the Peshmerga in the recent assassination of a key ISIS figure.

"Today the fugitive leader of ISIS in Iraq was killed,” Trump wrote last Friday. “His miserable life was terminated, along with another member of ISIS, in coordination with the Iraqi Government and the Kurdish Regional Government.”

Background to Oil Export Dispute

Kurdish oil exports stopped in March 2023, when the International Court of Commerce (ICC) ruled in favor of Iraq in a dispute that was first brought to the court by Nouri al-Maliki eleven years before—in 2012—when Maliki, a strongly sectarian Shi’ite figure, was Iraq’s prime minister.

In fact, Maliki’s governance was judged to be so partisan that the Obama administration concluded that he had been a significant factor behind the rise of ISIS. Thus, it demanded his resignation as a pre-condition for returning U.S. troops to Iraq in order to fight the terrorist group, which had emerged suddenly out of the Syrian civil war.

It took nine years for the ICC to issue its ruling that the export of Kurdish oil through the Iraq-Turkey Pipeline (ITP) contravened the original 1973 agreement concerning exports through that pipeline. And now it has taken another two years to reach the point where, it seems, Kurdish oil exports will soon resume.

Of course, these problems could have been resolved much more quickly, but there was little desire to do so in Baghdad—until the Trump administration focused on the issue.

State Department Position

Bruce was asked about the U.S. role in promoting the resumption of Kurdish oil exports.

“We’re urging the Iraqi Government to reach an agreement .. .  with the international oil companies to resume oil exports through the Iraq-Turkey pipeline as soon as possible and to honor the existing contracts with U.S.companies,” she replied.

“Reopening the ITP ensures Iraqi oil can reach global, especially European markets,” she continued. “Iraq benefits from the stability of resilient supply chains, as do we all.”

The Trump administration has been focused on cutting off Iranian oil exports, as part of its maximum pressure campaign. Bringing additional sources of oil online helps to reduce the resulting pressure on international oil prices, so it, too, has a strong interest in the resumption of Kurdish oil exports.  LINK

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Clare:  Al-Alaq: We are working to establish a data center that represents a successful foundation for digital transformation.

3/20/2025  Baghdad

Central Bank Governor Ali Al-Alaq confirmed on Thursday that the digital currency the bank intends to launch will enhance transparency and limit the flow of cash out of banks. He also revealed plans to establish a data center that will serve as a successful platform for digital transformation.

Al-Alaq said in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News," that "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 is the most beneficiary of the major transformations taking place."

He added, "Digital currency can serve many purposes, limit the leakage of cash outside banks, and achieve a high degree of transparency, as funds can be tracked, whether in the areas of 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 to the economic benefits digital currency offers from printing and tracking currency."

Al-Alaq confirmed that "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 explained that "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 has advanced infrastructure, as the new bank building contains a sophisticated data center, and we are also working to establish a data center that will represent a successful foundation for digital transformation."  LINK

Iraq Economic News and Points to Ponder Thursday Evening 3-20-25

Al-Alaq: We Are Working To Establish A Data Center That Represents A Successful Foundation For Digital Transformation.

Banks  Economy News – Baghdad  Central Bank Governor Ali Al-Alaq confirmed on Thursday that the digital currency the bank intends to launch will enhance transparency and limit the flow of cash out of banks. He also revealed plans to establish a data center that will serve as a successful platform for digital transformation.

Al-Alaq said in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News," that "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 is the most beneficiary of the major transformations taking place."

He added, "Digital currency can serve many purposes, limit the leakage of cash outside banks, and achieve a high degree of transparency, as funds can be tracked, whether in the areas of 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 to the economic benefits digital currency offers from printing and tracking currency."

Al-Alaq confirmed that "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 explained that "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 has advanced infrastructure, as the new bank building contains a sophisticated data center, and we are also working to establish a data center that will represent a successful foundation for digital transformation."https://economy-news.net/content.php?id=53628

Oil Prices Rose In Today's Trading

Economy |03/20/2025  Mawazine News – Baghdad  Oil prices rose in early trading on Thursday, driven by a decline in US fuel inventories and rising tensions in the Middle East.

Brent crude futures rose 40 cents, or 0.57 percent, to $71.18 a barrel by 02:13 GMT, while U.S. West Texas Intermediate (WTI) crude gained 34 cents, or 0.51 percent, to $67.50. Prices rose after U.S. government data showed a larger-than-expected drawdown in distillate inventories last week.

Distillate stocks, which include diesel and heating oil, fell by 2.8 million barrels last week, while crude inventories rose by 1.7 million barrels. Global risk premiums rose after Israel launched a new ground operation in Gaza on Wednesday after violating a nearly two-month ceasefire.

The United States also continued airstrikes on Houthi targets in Yemen in response to the group's attacks on ships in the Red Sea. Trump also pledged to hold Iran responsible for any future Houthi attacks. Ukrainian President Volodymyr Zelensky said on Wednesday that a halt to strikes on energy facilities in the war with Russia could be achieved quickly, suggesting the two sides are moving closer to a potential ceasefire that could lead to sanctions relief and the return of Russian supplies to the market. https://www.mawazin.net/Details.aspx?jimare=260274

Exchange Rates Drop In Baghdad

economy | 03/20/2025  Mawazine News – Baghdad  The dollar exchange rate declined on the Al-Kifah and Al-Harithiya stock exchanges, reaching 147,300 Iraqi dinars per $100.

The selling price at exchange shops in local markets in Baghdad was 148,250 Iraqi dinars per $100, while the buying price was 146,250 dinars per $100. https://www.mawazin.net/Details.aspx?jimare=260281

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

Seeds of Wisdom RV and Economic Updates Thursday Afternoon 3-20-25

Good Afternoon Dinar Recaps,

PRESIDENT TRUMP PLEDGES US LEADERSHIP IN CRYPTOCURRENCY AT DIGITAL ASSET SUMMIT

President Donald Trump outlined his administration’s vision for U.S. leadership in cryptocurrency and financial technology during the Digital Asset Summit.

Trump Touts Crypto as Key to U.S. Economic Growth

Addressing the summit’s attendees via video feed, Trump declared his commitment to making America the global center for digital assets.

“Together we will make America, the undisputed bitcoin superpower and the crypto capital of the world,” he stated. He also highlighted the recent White House Digital Asset Summit, where top crypto executives met with White House AI and Crypto Czar David Sacks.

Trump announced the creation of a strategic bitcoin reserve and a U.S. digital asset stockpile, a move aimed at maximizing the government’s holdings. “Instead of foolishly selling them for a fraction of their long-term value, which is exactly what Biden did,” he asserted.

The president also vowed to end what he described as the previous administration’s “regulatory war on crypto,” including halting Operation Choke Point 2.0. “It was a form of lawfare through government weaponization. Frankly, it was a disgrace,” he said, pledging that such policies ended on January 20, 2025.

Trump called on Congress to pass legislation establishing clear regulations for stablecoins and market structure, arguing that a strong legal framework would allow institutions to invest and innovate freely. “You will unleash an explosion of economic growth,” he told the audience.

He concluded by reinforcing his belief that crypto will drive financial innovation in the U.S. “It’s going to be right here in the USA, the good old USA,” he said.

@ Newshounds News™

Source:  Bitcoin News

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XRP JUST HIT MAJOR MILESTONE WITH FIRST US REGULATED FUTURES

The first-ever regulated XRP futures in the U.S. are live, delivering compliant, physically settled contracts that enhance market integrity and strengthen price discovery.

Regulated XRP Futures Are LIVE in the US

Bitnomial, a U.S.-based digital asset derivatives exchange, has launched the first-ever U.S. Commodity Futures Trading Commission (CFTC) regulated futures contract for XRP, the company announced on March 20. The announcement states:

"This marks the first-ever CFTC-regulated XRP futures product in the United States, providing traders with a compliant, transparent, and capital-efficient way to gain exposure to XRP".

The newly introduced XRP US Dollar Myra (XRUY) Futures are designed to enhance market integrity by ensuring contracts are physically settled in actual XRP rather than cash. This approach strengthens price discovery by directly linking derivatives trading to the real supply and demand dynamics of XRP.

Along with the product launch, Bitnomial Exchange, LLC voluntarily dismissed its lawsuit against the U.S. Securities and Exchange Commission (SEC), which was initially filed in October 2024. The company shared:

"Bitnomial is also pleased to announce that yesterday, Bitnomial Exchange LLC filed a notice of voluntary dismissal of its case against the U.S. Securities and Exchange Commission (SEC)."

The lawsuit questioned whether Bitnomial’s XRP futures should be classified as security futures contracts. With the SEC’s evolving stance on crypto assets providing greater clarity, Bitnomial decided to withdraw the case, emphasizing the importance of regulatory certainty for fostering innovation in digital asset markets.

Bitnomial has been broadening its range of physically settled futures, now offering contracts on solana, avalanche, chainlink, bitcoin cash, litecoin, ethereum, polkadot, and hedera. The company detailed:

"Bitnomial’s physically settled futures ensure contracts are delivered in actual XRP upon settlement, distinguishing them from cash-settled alternatives that do not have direct interaction with the underlying asset."

“This structure enhances market integrity and strengthens price discovery by tying derivatives trading directly to XRP’s supply and demand dynamics,” the company added.

 CEO Luke Hoersten highlighted the significance of physically settled contracts in reinforcing market transparency, while President Michael Dunn noted that the introduction of XRP futures solidifies Bitnomial’s role as a leader in regulated crypto derivatives trading.

Bitnomial’s announcement of launching the first CFTC-regulated XRP futures contracts came a day after Ripple CEO Brad Garlinghouse revealed that the SEC is dropping its appeal in the company’s long-running lawsuit over XRP.

@ Newshounds News™

Source:  BitcoinNews

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's News Telegram Room Link

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Seeds of Wisdom Team™ Website

Thank you Dinar Recaps

Seeds of Wisdom RV and Economic Updates Thursday Morning 3-20-25

Good Morning Dinar Recaps,

DUBAI LAND DEPARTMENT BEGINS REAL ESTATE TOKENIZATION PROJECT

The Dubai government has started the pilot phase of a project that will convert real estate assets into digital tokens on the blockchain.

The Dubai Land Department (DLD), a government entity responsible for registering, organizing and promoting Dubai real estate, announced that it started the pilot phase of its real-estate tokenization project.

The project was launched in collaboration with the Dubai Future Foundation (DFF) and the Virtual Assets Regulatory Authority (VARA), Dubai’s crypto regulator.

The token launch makes the DLD the first real-estate registration entity in the UAE to implement tokenization on property title deeds.

DLD expects the sector to grow $60 billion by 2033

In the announcement, the DLD said the initiative is expected to drive growth in real estate tokenization. The government agency predicts that its market value could reach over $16 billion by 2033. According to the agency, this represents 7% of Dubai’s total real estate transactions.  

DLD Director-General Marwan Ahmed Bin Ghalita said in the announcement that real estate tokenization drives a fundamental change in the sector.

“By converting real estate assets into digital tokens recorded on blockchain technology, tokenization simplifies and enhances buying, selling, and investment processes,” he said.

The official said this aligns with the DLD’s vision to become a global leader in real estate investment and use technology to develop innovative real estate products.

Tokenization to open up Dubai real estate to global investors

Tokinvest co-founder and CEO Scott Thiel said the initiative is a “transformative moment” for the sector. Thiel told Cointelegraph:

“The initiative not only reinforces Dubai’s leadership in blockchain adoption but also paves the way for a more inclusive, liquid, and efficient real estate market.” 

“Tokenisation is no longer a concept. It’s a reality that will open up Dubai’s real estate market to a global pool of investors like never before,” Thiel told Cointelegraph.

In a previous interview, Thiel told Cointelegraph that the UAE’s proactive regulations paved the way for the country’s real-world asset (RWA) tokenization boom. The executive said there was a genuine desire from government agencies to develop clear guidelines for the sector.

@ Newshounds News™
Source:  CoinTelegraph

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BRICS: ANALYST REVEALS IF THE US DOLLAR CAN MAINTAIN ITS DOMINANCE

The BRICS alliance is looking to uproot the US dollar from the world’s reserve currency position. The bloc wants to put local currencies in the top slot and reduce dependency on the greenback. The power struggle has ignited fresh debates about the use of the USD among developing nations. Eastern nations want to tilt power from the West and usher into a new financial era.

The move will shake the foundation of the US dollar and weaken its dominant position in the currency markets. Local currencies are getting stronger in 2025 as the USD is down against all leading currencies this year as the DXY index fell to the 103.2 mark.

BRICS: The US Dollar Will Maintain Its Dominance

Ashishkumar Chauhan, the Managing Director of the National Stock Exchange (NSE) spoke about the US dollar’s prospects. He spoke at a Singapore panel on capitalism and technology highlighting the importance of geopolitics and the global stock markets. He also touched on the subject of de-dollarization where BRICS aims to replace the US dollar with local currencies.

Chauhan stressed that BRICS cannot shake the foundation of the US dollar and it will remain the dominant currency. “After World War II, the US meticulously positioned itself to replace the British pound as the global reserve currency. Today, no other country is ready to take on that role,” he argued.

He explained that leading currencies like the euro and the pound are not strong enough to stand the whiplash of the markets. The Chinese yuan and the Japanese yen also fold under pressure and cannot challenge the USD. Therefore, no matter how hard BRICS tries its hand in de-dollarization, the US dollar will remain the dominant currency.

@ Newshounds News™
Source:  Watcher Guru

~~~~~~~~~

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“Tidbits From TNT” Thursday Morning 3-20-2025

TNT:

Tishwash:  Spanish Fashion Chain to Open First Stores in Iraq

Spanish fashion retail chain Inditex has said it will launch its first stores in Iraq this year.

The announcement in the Group's FY 2024 results is part of a general worldwide expansion.

Inditex did not specify which brands will be introduced to Iraq, but the group includes Zara, Bershka, Massimo Dutti, Oysho, Pull&Bear and Stradivarius.  link

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Tishwash:  Oil exports from Kurdistan Region set to resume next week, confirms Iraqi parliament official

Speaking at a press conference, Halbousi highlighted the progress made in recent discussions, emphasizing that key amendments to the budget law and agreements on export routes through the port of Ceyhan are well underway.

In a significant development for Iraq’s energy sector, Haibat Halbousi, chairman of the Iraqi parliament's oil and gas committee, announced on Wednesday that oil exports from the Kurdistan Region will officially resume next week.

Speaking at a press conference, Halbousi highlighted the progress made in recent discussions, emphasizing that key amendments to the budget law and agreements on export routes through the port of Ceyhan are well underway.

“Our meeting focused on amending the budget law and the resumption of oil exports from the Kurdistan Region through the port of Ceyhan. We will meet with the delegation next week,” he stated.

Officials from the Ministry of Oil, the State Organization for Marketing of Oil (SOMO), and the North Oil Company also confirmed the details, signaling a concrete step toward restoring oil exports from the region.

The Iraqi parliament convened on Wednesday to finalize the necessary measures, underscoring a collective commitment to economic stability and strengthening cooperation between the federal government and the Kurdistan Regional Government.

The long-anticipated resumption of oil exports is expected to bring positive economic impacts, reinforcing Iraq’s role as a key player in global energy markets. link

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Tishwash:  Is the Kurdistan Region turning into a "money exchange" for money smuggled to neighboring countries?

Economic expert Farman Hussein commented on Wednesday (March 19, 2025) on the possibility that the Kurdistan Region could become a "money exchange" for funds smuggled to certain countries, such as Iran, in light of the increasing US economic sanctions on the latter.

"All banks and money transfer companies in the region are currently under the control of the Central Bank of Iraq and linked to the electronic platform, so smuggling from the region is impossible," Hussein told Baghdad Today.

He added, "Kurdistan's banks cannot be a reliable alternative to Iraqi banks, which are subject to US sanctions. These banks are affiliated with political figures and most are dubious and vulnerable to bankruptcy, closure, and sanctions." He emphasized that these banks are not reliable for safekeeping funds.

He pointed out that "smuggling hard currency from the region's banks is difficult, as they, too, are subject to the electronic platform, and money can only be transferred and smuggled to any country through a complex process."

He pointed out that "public money thieves in the region suffer from their inability to transfer funds abroad, forcing them to invest the money in housing projects, commercial buildings, and gas stations instead of depositing it in banks."

The Trump administration has reimposed a "maximum pressure" policy on Iran.  The US government says it "seeks to isolate Iran from the global economy and cut off its oil export revenues in order to slow Tehran's development of a nuclear weapon."

Iraq, in turn, was affected by Washington's decision to refuse to renew the temporary waiver granted to Baghdad to purchase gas and electricity from Iran, amid concerns that the Iraqi banking system could be subject to US sanctions.  link

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Mot:  . the Best Part is~~~~

Mot ... Gots a New Car I Dids!!! --- But!! ~~~~

MilitiaMan & Crew-Iraq Dinar News-03/19/2025 SITREP 1.5-Central Bank Enhanced Currency Sterilization-WCO-WTO

MilitiaMan & Crew-Iraq Dinar News-03/19/2025 SITREP 1.5-Central Bank Enhanced Currency Sterilization-WCO-WTO

3-19-2025

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=cokHAAP8pSw

Iraq Economic News and Points to Ponder Wednesday Afternoon 3-19-25

Prime Minister: Iraq Is Witnessing A Comprehensive Development Renaissance.

Buratha News Agency1362025-03-19  Prime Minister Mohammed Shia al-Sudani affirmed on Wednesday that Iraq is witnessing a comprehensive development renaissance, while indicating that 323 power stations are under construction and implementation as part of the campaign to rehabilitate distribution networks and install power stations.

In his speech during the launch of the implementation works of the projects to rehabilitate distribution networks and install power stations via a closed-circuit television, the Prime Minister stated that "the start of work on rehabilitating electricity distribution networks in various governorates comes within the framework of the largest campaign to resolve power grid bottlenecks in preparation for the summer of 2025."

He added that "323 power stations are currently being built and implemented as part of this campaign," noting that "the government is working according to a well-thought-out technical plan, independent of any investment from political or societal entities."

He also explained that "the government has made significant efforts in the energy production sector and is seeking to diversify its sources to ensure the stability of the country's electricity system."

The Prime Minister concluded by stressing that "Iraq is witnessing a comprehensive development renaissance."    https://burathanews.com/arabic/news/457789

The Central Bank Of Iraq Explains The Reasons For The Decline In Its Foreign Reserves During The Third Quarter Of 2024.

Wednesday, March 19, 2025, | Economic Number of reads: 169  Baghdad / NINA / The Central Bank of Iraq announced, on Wednesday, a decline in its foreign exchange reserves during the third quarter of 2024, explaining the reasons that led to this decline.

The bank stated in a report that "Iraq's foreign exchange reserves decreased by 0.52% during the third quarter of 2024, reaching 143.35 trillion dinars, compared to the same period in 2023, when reserves amounted to 144.10 trillion dinars."

The bank attributed this decline to "the Central Bank's resort to withdrawing cash liquidity from the market by strengthening cash sterilization operations, as part of its efforts to maintain monetary stability."

The report added, "As a result of these measures, cash receipts increased from 18.46 trillion dinars to 20.09 trillion dinars during the same period."

It also indicated that "the decline in oil prices from $82.2 to $77.3 during the same period was another factor in the decline in foreign reserves."

The bank explained that "the increase in receipts led to the depletion of a portion of net foreign reserves, and the issued currency increased from 100.06 trillion dinars to 104.13 trillion dinars, as a result of the increase in public spending, which in turn led to an increase in public debt."

The central bank stressed that "despite this decline, it still has large net foreign reserves compared to the money supply, which makes it in a relatively safe position, according to global financial standards that set the minimum at 20%."  https://ninanews.com/Website/News/Details?key=1192853

Telecommunications Announces The Imminent Launch Of An E-Commerce Platform In Iraq.

Local |  03/19/2025  Mawazine News – Baghdad  The Ministry of Communications announced on Wednesday the preparation of the infrastructure and warehouses for the opening of branches of international e-commerce companies in Iraq, while indicating the imminent launch of an e-commerce platform in Iraq.

The Director General of the General Company for Postal and Savings Services at the Ministry of Communications, Zainab Abdul Sahib, said: “Plans have been made for the year 2025, after we have established the basic infrastructure.

Planning began in 2023, starting with this government, towards transforming the postal services into automated services (digital transformation) to keep pace with the development taking place in countries around the world.”

Regarding e-commerce, Abdul Sahib explained that “there is an effort to bring Amazon and Shein to open branches in Iraq, not as agents. The land, infrastructure, and warehouses have been prepared near the airport,” noting that “the effort is to have an e-commerce platform in the near future, which is currently being analyzed and referred.”  https://www.mawazin.net/Details.aspx?jimare=260243

The Prime Minister's Advisor Calls For Encouraging Investments And Improving The Business Environment In Iraq.

Time: 2025/03/19 Read: 1,185 times {Economic: Al Furat News} The Prime Minister's advisor for financial affairs, Mazhar Muhammad Salih, called for focusing on economic development programs and encouraging local and foreign investments by providing tax incentives and improving the business environment.

Saleh also pointed out in a statement to Al Furat News Agency the importance of launching development projects that contribute to creating job opportunities, especially for young people, with the aim of reducing unemployment and poverty.

These projects include the Riyada Project and the Riyada Bank, in addition to activating the activities of the Iraq Development Fund and the Sovereign Guarantees Committee to finance strategic industrial projects.

Saleh emphasized the need to strengthen social protection programs to mitigate the repercussions of economic crises on the poor. These programs are managed with high professionalism, contributing to building buffers that protect the national economy from regional influences and tensions.  LINK

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

Seeds of Wisdom RV and Economic Updates Wednesday Evening 3-19-25

Good Evening Dinar Recaps,

BITNOMIAL SET TO LAUNCH CFTC-APPROVED XRP FUTURES ON MARCH 20, WITHDRAWS SEC LAWSUIT

The decision comes following the SEC dropping its lawsuit against Ripple on the XRP case.

Bitnomial will launch its CFTC-approved XRP futures contracts on March 20 and drop its lawsuit against the US Securities and Exchange Commission.

The firm said its decision to withdraw its lawsuit was driven by the regulator’s move to abandon legal action against Ripple.

According to the March 19 announcement, the contracts will be physically settled, providing a new regulated trading instrument for institutional and retail investors’ exposure to XRP.

Regulatory improvement

Bitnomial clients will gain access to XRP futures immediately at launch. In contrast, prospective clients can onboard through Futures Commission Merchant (FCM) partners, including R.J. O’Brien and Associates, Marex Capital Markets, and Bitnomial Clearing.

The introduction of these contracts follows the broader trend of increased regulatory clarity in the crypto sector, particularly as legal developments reshape the landscape for digital assets.

One such development was Ripple’s decisive victory against the SEC. The regulator formally dropped its appeal in the long-standing legal battle over XRP’s classification. Ripple CEO Brad Garlinghouse confirmed the resolution on March 19, calling it a significant moment for the industry.

Initiated in December 2020, the case accused Ripple of conducting unregistered securities sales worth $1.3 billion. A key ruling in August 2024 determined that XRP is not a security when traded on public exchanges, although penalties were upheld for institutional sales.

The ruling ordered Ripple to pay $125 million in penalties, significantly lower than the SEC’s original demand of nearly $2 billion.

The regulator and Ripple appealed the decision, with the SEC ultimately deciding to let go of its appeal. However, Ripple’s appeal to avoid the fine and clear XRP’s status as security on institutional sales is still up.

Bitnomial ends lawsuit against SEC

In tandem with the launch of its XRP futures, Bitnomial announced it has voluntarily dropped its lawsuit against the SEC.

The firm had sued the regulator in October 2024 over jurisdictional disputes concerning futures contracts based on XRP’s price.

Bitnomial initially filed for its XRP futures product in August 2024 after the federal ruling that XRP is not a security, challenging the SEC’s stance on overseeing XRP derivatives.

The firm’s decision to dismiss its case is based on the shifting regulatory environment and improving clarity regarding digital asset classification.

@ Newshounds News™

Source:  CryptoSlate

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PRESIDENT TRUMP TO SPEAK AT DIGITAL ASSETS SUMMIT TOMORROW

President Donald Trump will make history as the first sitting U.S. president to speak at a Bitcoin and crypto conference, delivering remarks at Blockworks’ Digital Asset Summit (DAS) in New York City tomorrow.

President Donald Trump is expected to deliver a speech at Blockworks’ Digital Asset Summit (DAS) in New York City on March 20. This will be the first time a sitting U.S. president has addressed a Bitcoin and crypto conference, highlighting the growing influence of digital assets in mainstream financial policy.

Although this marks his first speech as a sitting president at a crypto event, Trump has previously engaged with the Bitcoin community, having spoken at the world’s largest Bitcoin conference in Nashville last summer while on the campaign trail. His return to the stage now as president further highlights the continued support from the U.S. government on Bitcoin.

Trump’s speech at DAS comes only a couple weeks after moving forward with officially integrating Bitcoin into his national strategy, when he signed an executive order establishing the U.S. Strategic Bitcoin Reserve, positioning BTC as a key asset for the country’s financial future.

Joining the lineup tomorrow at DAS is Strategy’s Michael Saylor, who will deliver a keynote speech and engage in a fireside chat with Bitcoin historian Pete Rizzo.

 Additionally, Bloomberg ETF analyst James Seyffart will host a panel discussion with BlackRock’s Head of Digital Assets Robbie Mitchnick and  Nasdaq’s Head of U.S. Equities & Exchange-Traded Products Giang Bui, where they will delve into the evolving landscape of Bitcoin ETFs and institutional adoption.

The announcement of Trump’s participation follows remarks from Bo Hines, Executive Director on Digital Assets for President Trump, who spoke earlier this week at DAS. Hines reaffirmed the administration’s commitment to accumulating Bitcoin for the Strategic Bitcoin Reserve, stating:

“I think it’s high time that our President started accumulating assets for the American people, which is what President Trump is doing rather than taking it away.”

He also emphasized the administration’s approach to acquiring Bitcoin in budget-neutral ways, likening BTC accumulation to gold reserves:

“You know, I’ve been asked all the time, it’s like how much do you want? Well, that’s like asking a country how much gold do you want – as much as we can get."

 Trump’s executive order has already sparked legislative action aiming to build on this momentum. Senator Cynthia Lummis and Congressman Nick Begich have each proposed plans for the U.S. to acquire 1 million BTC over the next five years, ensuring a long-term reserve of the scarce asset.

Earlier today at DAS, House Majority Whip and Congressman Tom Emmer stated that he believes this legislation will be enacted “before this congress is done.”

@ Newshounds News™

Source:  Bitcoin Magazine

~~~~~~~~~

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Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 3-19-25

Good Afternoon Dinar Recaps,

BIG BREAKING: SEC DROPS XRP CASE, RIPPLE CEO CONFIRMS

The SEC drops its lawsuit against Ripple after four years, marking a major legal victory for XRP and the crypto industry.

Ripple CEO Brad Garlinghouse calls the SEC case a "flawed attack on crypto" as regulators retreat from their claims against XRP.

After more than four years of legal battles, the U.S. Securities and Exchange Commission (SEC) has officially dropped its lawsuit against Ripple Labs (pending vote of the commission). 

The case, which was filed in December 2020, accused Ripple of conducting an unregistered securities offering by selling XRP.

Ripple’s CEO, Brad Garlinghouse expressed relief and pride as he reflected on the outcome. “It’s over,” Garlinghouse said, explaining how the case marked a pivotal moment in the ongoing struggle for clarity in the cryptocurrency industry. “Looking back on four years ago, it’s clear to me that this case was flawed from the start. It was the first major shot fired in the war against crypto.”

Garlinghouse went on to explain that, while Ripple faced huge challenges, the company always believed it was on the right side of history.

“I knew we weren’t on the wrong side of the law, and I believed we’d ultimately be proven right. Today’s outcome is a victory for innovation and a long-overdue surrender by the SEC under Chairman Gary Gensler.”

This decision is seen as a major win for the cryptocurrency industry, as it represents the first successful fight against the SEC’s broad interpretation of securities laws applied to digital assets. Garlinghouse credited Ripple’s resources, determination, and grit for pushing back against regulatory agencies.

For many in the crypto community, the SEC’s action was seen as an effort to intimidate the industry, using arguments that they claimed were meant to protect investors but ultimately did more harm than good.

As the crypto industry continues to grow, Ripple’s victory signals a turning point in regulatory efforts, reinforcing the need for clearer guidelines that support innovation without stifling progress.

@ Newshounds News™
Source:  Coinpedia

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DUBAI LAUNCHES TOKENIZATION SANDBOX

The Dubai Financial Services Authority (DFSA) has launched a tokenization sandbox and is accepting expressions of interest through to April 24. The DFSA is the regulator for the Dubai International Finance Centre (DIFC).

Applicants could be involved in the issuance, trading, holding, or settlement of tokenized assets. Cryptocurrencies are excluded along with stablecoins. The financial instruments that are tokenized should be similar to conventional securities including equities, bonds, sukuk and collective investment fund units.

As with most sandboxes, the aim is to relax certain regulatory requirements under the supervision of the regulator. Hence, it’s open to companies whether or not they are already DIFC-regulated. If accepted they will be granted a special Innovation Testing License (ITL) that will last from six to twelve months. It appears that the rule relaxations might be assessed on a case-by-case basis. At the end of the ITL period, the entity either will be awarded a full DIFC license or the ITL license will be terminated.

The program supports live market testing and helps firms to clarify the tokenization requirements in the DIFC.

Tokenization rules were introduced in the DIFC in 2021. They support trading by consumers without intermediaries but access must be permissioned, although this doesn’t necessarily rule out the use of a public blockchain.

Tokenization regulations include some additional requirements compared to conventional securities, including informing the DFSA regarding custody arrangements and technology audits.

@ Newshounds News™

Source:  Ledger Insights

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LIVE UPDATES: FED LEAVES INTEREST RATES UNCHANGED, BUT FORECASTS FUTURE CUTS

The Federal Reserve took a wait-and-see approach to an uncertain US economy Wednesday, opting to leave interest rates unchanged at the close of its March meeting.  

That decision leaves the benchmark federal funds rate parked at a range of 4.25% to 4.5%, where it has sat since December. The Fed has now stood on the economy’s sidelines for two consecutive meetings, dating to January, after an unusually busy period of interest rate increases and reductions over the previous three years.

The Fed also kept its forecast for two cuts in 2025.

"We do not need to be in a hurry to adjust our policy stance, and we are well-positioned to wait for greater clarity," said Fed Chair Jerome Powell during a news conference. In Powell's remarks, "clarity," or the lack of it, emerged as a recurring theme.

@ Newshounds News™

Source:  USA Today

~~~~~~~~~

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Iraq Economic News and Points to Ponder Wednesday AM 3-19-25

To The Ministerial Council For The Economy
 
Samir Al-Nusairi  Finally, forecasts indicate that the Russian-Ukrainian war is nearing a halt with US intervention.
 
We recall that when the war broke out three years ago, oil prices soared to over $110 a barrel, resulting in a surge in oil revenues for both rentier and oil-producing countries.
 
This included Iraq, given its rentier economy.

Unfortunately, the achieved abundance was not utilized to activate the real economy.
 
Rather, operational allocations in the general budgets increased, and the deficit exceeded 60 trillion dinars.
 
Now, with the inevitable expectation that the war will soon end, oil prices will fall, and it is expected that its average price will reach less than 60 dollars per barrel.
 
And we are still without other significant sources of national income.
 
The Iraqi economy, God forbid, will enter a new economic and financial crisis.
 
We expect the deficit to rise, the inflation rate to rise, and the government will be forced to borrow domestically and abroad.
 
Borrowing from the central bank will be required,
foreign exchange reserves will decline, and
external and domestic debts will rise.
 
Since these expectations could soon be realized, they require swift action.
 
Here, we propose that the Ministerial Council for the Economy hold extraordinary sessions to discuss the expected new crisis and prepare for confrontation in a manner that preserves the path of economic, financial and banking reform and finds solutions and remedies to protect our national economy. views 381    https://economy-news.net/content.php?id=53476

Parliamentary Finance: The Necessity Of Activating Tax Collection Mechanisms. 

Money and Business  Economy News – Baghdad  The Parliamentary Finance Committee stressed the need to activate tax collection mechanisms, stating that this remains weak despite the multiple financial resources that could support state revenues.
 
It also urged the activation of privatization as a primary option to
 
     boost revenues and
     reduce operational burdens on the government.
 
Committee member Jamal Koujar explained in an interview with the official newspaper, followed by "Al-Eqtisad News," that
 
"tax collection is a basic resource for the state in all countries of the world,
 
but its collection in Iraq remains very weak."

He emphasized "the need to establish a comprehensive government program to ensure full collection of tax collection, and to search for new alternatives away from old mechanisms."
 
Koger pointed out that there are several issues that must be considered in this context.
 
First, a clear government program must be put in place to fully collect taxes.
 
Second, alternatives to traditional mechanisms must be sought.
 
Third, incentives must be provided to those who collect taxes, as well as those who pay them.
 
Finally, privatization represents the optimal solution to fully collect taxes.
 
Koger added that privatization will help the government in two key areas:
 
     first, reducing the burdens associated with hiring, and
     second, reducing operating expenses.
 
He emphasized that these mechanisms, if implemented in practice, could yield significant positive returns.
 
The member of parliament pointed out that the expected revenues from these reforms will depend on the mechanism implemented by the government.
 
If it opts for privatization, this will boost state revenues and reduce its financial burdens.
 
views 66     Added 03/18/2025 - 8:54 AM  https://economy-news.net/content.php?id=53522

Kazan Forum: A New Mechanism To Attract Investments From Islamic Countries And Iraq
 
Economy    WAA  The Russian market has become more open to halal investments.
 
Since 2023, regions in the Russian Federation have witnessed a successful experiment in partnership financing, leading to the development of a new mechanism to attract investments from Islamic countries.
 
Now, plans are underway to expand this experiment and extend it until the fall of 2028.
 
The Russian Parliament announced plans to extend the experiment for an additional three years, expanding the list of Sharia-compliant financial transactions, including mutual property insurance.
 
These amendments are expected to enhance the attractiveness of Islamic finance, attracting investors from OIC countries, including Iraq.
 
Statistics indicate that the volume of Islamic banking transactions will double by 2024 in the Republic of Tatarstan, one of four Russian regions implementing the experiment.
 
According to Taliya Minullina, head of the Tatarstan Investment Development Agency, the experiment could become permanent.
 
Investments through Islamic finance in Russian projects are estimated at more than $10 billion, and experts expect this figure to grow tenfold in the next two years.
 
Mignolina also emphasized that the formation of an Islamic financial market in Russia will boost investment and create a more stable environment.
 
To ensure the success of this initiative, Islamic finance specialists are being trained in cooperation with AAOIFI, the Bahrain-based organization responsible for Islamic financial accounting standards.
 
Work is also underway to launch a Sharia-compliant halal investment platform, in partnership with two Arab institutions, to finance startups in Russia and the Commonwealth of Independent States (CIS).
 
The platform is scheduled to launch in May 2025.
 
With the growth of Islamic finance, trade between Russia and the Islamic world has witnessed a significant increase, reaching $106 billion during the first nine months of 2024, of which $5.9 billion was for Tatarstan alone, marking a 40% increase compared to the previous year.
 
According to Abdullah Platik, Secretary General of the General Council for Islamic Banks, recent years have witnessed a growth in the number of transactions between Russia and OIC countries, which enhances opportunities for future cooperation.
 
Further development of Islamic finance in the Russian Federation in the near future may raise economic relations with countries of the Global South to a new level.   https://www.ina.iq/230205--2025-.html   

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