Seeds of Wisdom RV and Economic Updates Tuesday Evening 4-15-25

Good Evening Dinar Recap

XRP ETFS LIKELY NEXT TO GET SEC APPROVAL, BEATING DOGE AND SOLANA: KAIKO

XRP exchange-traded funds may be the next SEC-approved product that gives investors exposure to crypto, according to data firm Kaiko.

An XRP-focused exchange-traded fund is more likely to receive approval than other recently proposed spot funds tracking other major altcoins, market research firm Kaiko said in a report released Monday.

XRP's front-runner position comes because of the underlying token's high liquidity, said Kaiko. Spot volume for XRP on American exchanges recently hit its highest level since before a long-running lawsuit in 2020 led to delistings, Kaiko noted in its report. XRP is the fourth-largest cryptocurrency by market cap.

Kaiko added that the SEC's prior approval of a fund giving investors exposure to the coin also worked in XRP's favor. U.S. asset manager Teucrium Investment Advisors launched a 2x leveraged XRP ETF earlier this month.

"It's hard to argue against allowing a spot product when there's already an active ETF like this, which is highly levered and more risky than a vanilla spot ETF," Kaiko's Adam Morgan McCarthy told Decrypt.

Bitwise, Grayscale, 21Shares, CoinShares, and Canary Capital have all applied to list spot XRP funds. The applications and others for ETFs based on Solana, Litecoin, Cardano, and Dogecoin, among other tokens, reflect issuers' growing efforts to address demand for crypto investment products. Kaiko reported that a Solana-based fund was the next most likely after an XRP ETF to receive a regulatory greenlight.

XRP is a virtual coin created by the founders of fintech company Ripple. The SEC sued Ripple at the end of 2020, alleging that its team sold unregistered securities in the form of XRP.

@ Newshounds News™
Source:  Decrypt

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BRICS: WHEN BARACK OBAMA PREDICTED THE US DOLLAR’S FUTURE

When BRICS was formed in June 2009, former US President Barack Obama had predicted the future of the US dollar. Three months after BRICS was formed in 2009, Obama spoke in length about the USD highlighting its importance across the world. The former President revealed that investor’s confidence in the USD is high and will remain the same for many more years.

However, fast-forward 16 years to 2025, the geopolitical landscape has experienced a paradigm shift. Developing countries are advancing financially and competing with the US in tech, trade, and science.

BRICS is also looking to topple the US dollar giving Barack Obama’s 2009 prediction a reality check. The global financial markets are rapidly evolving with emerging economies looking to dominate the geopolitical spectrum.

BRICS: Barack Obama Had Predicted the US Dollar’s Future in 2009, Here’s What He Said

Former US President Barack Obama spoke about the US dollar’s future prospects when the BRICS alliance was launched in 2009. 

He explained that the USD is an extraordinary currency with immense faith and trust from the global investor community. “The dollar is extraordinarily strong right now,” President Obama said in November 2009.

And the reason the US dollar is strong right now is because investors consider the United States the strongest economy in the world with the most stable political system in the world,” said Barack Obama. However, in 2025, the political landscape is different and BRICS and other developing countries want to topple the US dollar.

Barack Obama’s prediction of the US dollar is now on shaky grounds as BRICS countries find the currency intimidating. The White House pressing sanctions on developing countries is what led the alliance to distrust the USD. Even former US Treasury Secretary Janet Yellen confirmed that sanctions gave way for de-dollarization.

@ Newshounds News™0
Source:  Watcher Guru

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Iraq Economic News and Points to Ponder Tuesday Afternoon 4-15-25

The Prime Minister Of The Kurdistan Regional Government Discusses Developments In The Region With A US Delegation

Tuesday, April 15, 2025 | Politics Number of reads: 92   Baghdad / NINA / The Prime Minister of the Kurdistan Regional Government, Masrour Barzani, discussed today, Tuesday, with a US delegation headed by Victoria Taylor, Deputy Assistant Secretary of State, ways to enhance bilateral relations and the general situation in Iraq.   The two sides also discussed, during a meeting between them, the latest developments in the region. /End   https://ninanews.com/Website/News/Details?key=1197953

Ports Director: We Will Adopt Modern Navigation Equipment To Operate The Grand Faw Port

Buratha News Agency982025-04-15   Director General of Iraqi Ports, Farhan Al-Fartousi, announced on Tuesday that the Grand Faw Port will be operational in the coming period after it has been equipped with modern navigation equipment.

Al-Fartousi stated in a press conference that “the technical director of the International Academy for Maritime Aids (IALA), Julierdine Delano, is currently visiting Iraq to review the state of the maritime sector and its needs in terms of modern technology in the field of navigational aids, which includes the availability of buoys, lighthouses, and ship traffic signs.”

He added, "Iraq's cooperation with international maritime organizations, such as the IALA International Academy, will enable the port sector to modernize its infrastructure, provide the port of Faw with the latest navigation equipment, and train the crews working at the port to use this technology."

In contrast, the technical director of the Ayala Academy, Juliardine Delano, confirmed that "Iraqi ports are witnessing significant development in terms of performance and navigational equipment."

She noted that she is currently visiting Iraq to review the state of the maritime sector and its needs, ensure Iraq's commitment to implementing international requirements for maritime safety, and conduct a preliminary assessment of the Grand Faw Port's need for such navigational aid, in preparation for its commencement of operations in the coming period.

She added, "Iraq's compliance with international standards and its investment in safety measures will yield returns in the form of reduced prices for imported products, as well as insurance revenues paid by ships passing through ports."   https://burathanews.com/arabic/news/458886

The Iraqi Stock Exchange Launches A Standards Guide For Companies, Including These Details

Stock Exchange  Economy News – Baghdad  The Iraqi Securities Commission announced today, Tuesday, the launch of a guide to environmental, social, and corporate governance standards for companies.

The Commission stated in a statement received by Al-Eqtisad News that, "After joint work and continuous communication with the International Finance Corporation (IFC), a member of the World Bank Group, which took approximately a year, the guide was prepared according to international standards, taking into account the challenges of the Iraqi business environment and the determinants of the legislative environment."

She explained that "this guide is the first comprehensive, mandatory guide to practices issued by the Iraqi Securities Commission (ISC) for Iraqi companies to implement corporate governance (CG), sustainability governance, and environmental and social issues, including aspects related to climate change."

She pointed out that "the Commission seeks, through this guide, to institutionalize best practices for environmental, social, and corporate governance standards in Iraqi business culture by making implementation mandatory for companies listed on the Iraq Stock Exchange."
She added that "banks listed on the Iraq Stock Exchange will be subject to the Environmental, Social, and Corporate Governance Standards Guide issued by the Central Bank."

She added, "The Commission believes that implementing environmental, social, and governance practices by companies listed on the Iraqi Stock Exchange will lead to increased market confidence, a better reputation, development of the capital market, increased corporate transparency and accountability, increased foreign direct investment flows, an information-driven market, and improved market liquidity."

The statement concluded by saying, "The Authority will issue instructions on implementing the guide and will hold workshops according to a plan developed for this purpose." https://economy-news.net/content.php?id=54465

Al-Eqtisad News Publishes The Decisions Of Today's Cabinet Meeting

Money and Business  Economy News – Baghdad   Al-Eqtisad News publishes the full decisions of the Cabinet meeting held today, Tuesday, headed by Prime Minister Mohammed Shia al-Sudani. Among these decisions was the approval of comprehensive admission for all intermediate and preparatory levels.

Al-Sudani's office said in a statement seen by Al-Eqtisad News, "Prime Minister Mohammed Shia al-Sudani chaired the 15th regular session of the Council of Ministers today, Tuesday, during which general developments in the country were discussed, the implementation of the government program was followed up, and the files and topics on the agenda were discussed and decisions were made regarding them."

The statement added that Al-Sudani "directed ministers to conduct at least two visits per month to all governorates, with the aim of achieving positive and tangible results in improving the services provided to citizens. He also directed all ministries to devote the necessary attention to maximizing revenues and to prepare appropriate mechanisms for implementation."

The statement indicated that "the Council decided to grant an official holiday to the Christian component only, on the 20th and 21st of this month of April, on the occasion of the glorious Easter holiday.

The Prime Minister congratulated our Christian people, as well as our Yazidi people on the occasion of the Yazidi New Year, which falls tomorrow, Wednesday, April 16, according to the Eastern calendar, in which this occasion is a holiday for the Yazidi component according to the law."

He pointed out that "the Council voted on the comprehensive admission of the intermediate and preparatory stages in all its branches to take the second round exams for the current academic year 2024-2025," adding that the Council approved "the draft laws on juvenile care and the first amendment to the Minors Care Law (78 of 1980), which were reviewed by the State Council, and referred them to the House of Representatives based on the provisions of the Constitution."

He noted that "in the context of supporting the private sector, the draft law on partnership between the public and private sectors was approved and referred to the Council of Representatives, based on the provisions of the Constitution, while taking into account the observations of the Legal Department of the General Secretariat of the Council of Ministers.

" The Council also approved "the mechanisms and controls for issuing sovereign guarantees to the Iraqi private sector, in implementation of the provisions of the General Budget Law for the three years, and the guarantee is issued to (one or more manufacturers) as needed to complete production lines."

In the context of imposing preventive measures on imported goods, the Council of Ministers approved the following, according to the statement:

1. Imposing an additional customs duty of (60%) of the unit of measurement of the product (transparent boxes and single-use plastic cups) imported into Iraq from all countries and origins, for a period of four years, and monitoring the local market during the period of application of the additional customs duties.

2. The General Authority of Customs shall apply the additional customs duty on the aforementioned product and notify the Department of Industrial Development and Organization periodically regarding the quantity of Iraq’s imports of the aforementioned products, the value of the additional customs duties collected on the importer of the foreign product, the value of the import, the exporting countries, and the importing entities.

3. The Ministry of Industry and Minerals shall take into account the following:

A. The amount of increase in imports compared to the previous three years to determine the extent of an unjustified increase.

b. A statement of the complaining company’s ability to meet market needs in a way that ensures no price inflation.

C. Determine the importance of the required protection for the national economy.

4. Regulatory authorities shall review the effects resulting from imposing additional customs protection on the imported product.

5. This decision shall be implemented after (120) days from the date of its issuance.

In the same context, the Council approved the “recommendation regarding the protection of the reinforcing steel product for sizes (10-32) mm, which includes adding another customs duty on the reinforcing steel product for sizes (10-32) mm in the amount of (10%), so that the duty becomes (30%), using the authority of the Minister of Finance stated in Article (2) of the Customs Tariff Law (22 of 2010) as amended.”

The Council approved the renewal of the Ministry of Oil/Basra Oil Company's Engineering, Procurement, and Construction Management (EPCM) contract for the Majnoon oil field by the Ministry of Oil, with the aim of continuing to provide services related to the contract until the new tender is launched and the new contract is concluded.

As part of the electricity provision procedures, approval was given, according to the statement, for “the Ministry of Electricity to contract to supply electrical energy to the northern region in the contracted quantities, amounting to (500) megawatts.”

The statement explained that, "Regarding the mechanism for dealing with contractors' compensation requests resulting from the implementation of government contracts, the Council of Ministers voted to confirm the Ministry of Health's commitment to Cabinet Resolution No. 24241 of 2024, regarding the Nahrawan, Husseiniya, Al-Hakim, and Al-Karma hospital projects."

The Council also approved "authorizing the Minister of Environment to negotiate and sign the draft project agreement between the Food and Agriculture Organization (FAO), as the entity accredited to the Green Climate Fund, and the Iraqi government." https://economy-news.net/content.php?id=54470

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

Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 4-15-25

Good Afternoon Dinar Recaps,

CRYPTO NEWS: TRUMP PLANS TO BUY BITCOIN WITH GLOBAL TARIFF REVENUE!

▪️Trump administration may use tariff revenue to buy Bitcoin, giving crypto investors fresh hope worldwide.

▪️Trump wants strategies to buy more Bitcoin without adding any extra cost for U.S. taxpayers.

▪️Bitcoin jumps 15%, trades above $85,000, and could soon hit the $90,000 resistance level.

As global tariff tensions heat up and financial markets stay shaky, crypto investors have found a surprising silver lining. The Trump administration has announced plans to use money collected from tariffs to buy Bitcoin—yes, you read that right. With Bitcoin already down 25% from its recent high, the timing has caught everyone’s attention.

Is the U.S. government really preparing to buy the dip?

Here’s what’s unfolding—and why it could shake up both politics and crypto.

Strategic Crypto Reserve In the Making

Last month, President Donald Trump signed an executive order to create a strategic cryptocurrency reserve. The plan involves using digital tokens the government already owns and finding new ways to expand those holdings. Trump has asked the Commerce and Treasury Secretaries to come up with budget-neutral strategies—meaning the government can buy more Bitcoin without adding to the national debt or raising taxes.

One idea being discussed in the White House is using tariff revenue to fund Bitcoin purchases. This would allow the U.S. to build its crypto reserves without borrowing money or asking more from taxpayers.

While still in the planning stage, this move shows that the government is open to fresh ideas about managing public funds.

Lummis Pushes the “Bitcoin Act of 2025”

Senator Cynthia Lummis is also stepping in with her proposal—the “Bitcoin Act of 2025.” She wants to revalue U.S. gold certificates, which are currently worth less than the real price of gold. Adjusting their value could free up extra funds that the government could use to buy Bitcoin and strengthen its crypto holdings.

Bitcoin Aims for $90K

Bitcoin is showing strength again after bouncing back from a recent dip. The price has jumped by 15% and is now trading around $85,350, with its market cap rising to $169 trillion.

Right now, Bitcoin is holding above $84,000 and staying strong above the 100-hour simple moving average. A rising trend line is also forming, with support around $85,200, suggesting buyers are still in control.

Looking ahead, Bitcoin faces resistance near $85,800, with the next major barrier at $87,200. If it breaks through these levels, the price could continue climbing—possibly reaching the $90,000 mark in the coming days.

@ Newshounds News™
Source:  Coinpedia

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BRICS: US DOLLAR KEEPS FALLING AS TRADE WAR FEARS GROW

The growing geopolitical tensions have only intensified in recent weeks amid the United States’ new Liberation Day tariff plan. Although it has been scaled back in a myriad of ways, the nation’s currency appears to be paying the price. In an interesting turn for the BRICS bloc, the US dollar has fallen again as trade fears grow.

Interestingly, US President Donald Trump had previously threatened the alliance with 150% tariffs due to their de-dollarization endeavors. The warning never actualized, but his stance on their policies was clear. Now, his efforts to balance trade for the nation have effectively done similar to the global reserve asset.

US Dollar Struggles as Trade Fears Look to Benefit BRICS Bloc

It has been a rather concerning month for the global economy. US President Trump has ushered in a strong America-first policy in the form of his new tariff plan. Subsequently, it has seen continued concern over the potential for increased geopolitical tensions.

As the United States and BRICS have continued their faceoff, the US dollar has continued to fall amid trade war concerns. Although it edged a bit higher on Monday, it approached the mid-way point of April, reaching a three-year low against the euro and Japanese yen. It approached oversold territory in its metrics and therefore, jumped slightly. Yet, it is still in a concerning position.

Investors have shown they are wary of the greenback with tariff turmoil still abounding. This is increasingly interesting when it comes to the BRICS bloc, as they have been the face of increased de-dollarization and gold buying. Subsequently, the latter has reached record highs above $3,200 this year.

“The uncertainty is now at an intolerable level for most businesses in international trade.” Adam Button of ForexLive told Reuters. “Right now, the market is taking a dim view of future US growth, and that has come through most clearly in the currency market.” Where this goes will be interesting, considering how important the dollar’s status was to President Trump when he was first elected in late 2024.

@ Newshounds News™
Source:  Watcher Guru

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US Debt Market Triggering The RESET | Francis Hunt

US Debt Market Triggering The RESET | Francis Hunt

Liberty and Finance:  4-15-2025

Francis Hunt discusses a major but underreported development in the financial system — a simultaneous weakening of the U.S. dollar and rising bond yields, signaling a deeper loss of confidence in the U.S. debt market.

Hunt explains that this rare phenomenon, usually seen in emerging markets, suggests the beginning of a systemic breakdown, one that his team had predicted years ago as part of a post-2020 "reset."

He emphasizes that the foundational issue lies in the debt markets, which are no longer being blindly supported by foreign or domestic institutions due to increasing fiscal instability.

 This erosion of trust, he argues, is not due to a coordinated foreign sell-off but rather a broader institutional retreat driven by uncertainty and risk aversion.

Despite the grim outlook, Hunt notes that this environment is highly bullish for gold, as it benefits from capital fleeing fiat currencies and debt instruments.

INTERVIEW TIMELINE:

0:00 Intro

1:30 Dollar rejection

15:08 Gold update

20:34 Dow/gold ratio

 27:17 Gold/silver ratio

42:00 Last thoughts

https://www.youtube.com/watch?v=tWkLwf-aC04

“Tidbits From TNT” Tuesday Morning 4-15-2025

TNT:

Tishwash:  Iraq awaits economic breakthrough following US-Iran agreement

Amid the successive crises facing Iraq, the national economy stands on the edge of waiting and anticipation, searching for a glimmer of hope that will open windows of relief amid the blocked financial horizon and the tightening noose on the local market.

Amid the anxiety of traders and the fear of consumers, the signs of the anticipated agreement between the United States of America and the Islamic Republic of Iran emerge as an opportunity that may carry within it the features of an economic breakthrough for Iraq, after years of suffering due to sanctions and regional tensions.

With every announcement or hint of progress in the negotiations, Iraqis' hopes are pinned on the possibility of liberating themselves from the shackles of complex transactions, and that this agreement will transform from a mere political card into a key to facilitating trade, ensuring stability, and protecting what remains of their purchasing power and economic capacity, which has been weakened by regional tensions.

Economic expert Nasser Al-Tamimi confirmed on Monday (April 14, 2025) that the expected agreement between the United States of America and the Islamic Republic of Iran will have economic benefits for Iraq.

Al-Tamimi told Baghdad Today, "The expected agreement between Washington and Tehran during the next phase is not only politically and security-wise important for Iraq, but also has economic benefits for Iraq.

This agreement will lift some US sanctions against Iran, especially those related to the dollar issue. This may allow Iraq to conduct commercial transactions with Iran in dollars through official and legitimate means, and stop the black money transfers used by most traders."

He added, "Among these economic benefits is Iraq's continued import of gas and electricity without any American obstacles or impediments. Therefore, the anticipated US-Iran agreement is of great importance to Iraq. However, if no agreement is reached and the situation escalates between the two parties, Iraq will be the most affected by this."

With the escalation of talk about a possible agreement between Washington and Tehran, expectations are growing that some of the restrictions imposed will be eased. This could give Iraq a new opportunity to regulate its trade with Iran through official and legitimate channels, mitigate the impact of recurring energy crises, and restore some balance to the local market, which has been chronically constrained by these regional and international challenges.  link

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Tishwash:  Al-Sudani's advisor: Annual returns from investing reserves are no less than $2 billion.

The Prime Minister's advisor for financial affairs, Mazhar Mohammed Salih, confirmed on Tuesday that the "annual returns" from investing foreign reserves are no less than two billion dollars, according to his estimates.

"These investments are often short-term and directed toward US, European, or British treasury bonds, with the aim of achieving appropriate returns," Saleh told Shafaq News Agency.

He added, "These investments are characterized by low risk and generate appropriate returns, and the invested assets can be quickly converted into cash without incurring losses."

Saleh pointed out that "profits generated from reserves are divided into two types: the first is realized, represented by direct interest, and the second is unrealized, resulting from diversifying the investment portfolio, in addition to realizing potential profits from exchange rate differences between currencies and gold."

The Central Bank of Iraq previously revealed a decline in foreign reserves for 2024, reaching 130.81 trillion dinars, a 10.18% decrease compared to the same period in 2023, when these reserves reached 145.64 trillion dinars  link

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Tishwash:  Economist: The US price war aims to cover inflation, not boost the economy

Mustafa Hantoush, a researcher and expert in financial and banking affairs, confirmed on Monday that the price war launched by US President Donald Trump aims primarily to cover the inflation rates accumulated in the United States over the past years, and not to boost the US economy as it is being promoted.

Hantoush explained, in a statement to Al-Maalomah, that “the halt of major economies, especially China and Europe, from investing in US Treasury bonds directly contributed to the rise in inflation rates without this being matched by actual growth in the US economy.”

He explained that "the United States relies on printing dollars and covering them through global markets when its economy is growing, but in the event of a decline in growth, this causes an exacerbation of domestic inflation, which is what the current US administration is trying to address by attracting global companies to the US market."

He pointed out that "current policies aim to stimulate foreign and local capital to enter the US market as a means of reducing inflation, and are not the result of real strength in basic economic indicators." End  link

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Tishwash:  Rafidain Bank announces the disbursement of interest on the first issue of "Emaar Bonds."

Rafidain Bank announced on Sunday the commencement of disbursing the first-year interest on the first issuance of Emaar bonds, stressing that the disbursement process is being conducted in an organized and smooth manner to ensure speedy completion. 

The bank said in a statement, seen by Al-Eqtisad News, that "based on Rafidain Bank's commitment to its pledges towards investors and citizens who support the reconstruction and development process, we are pleased to inform you that the disbursement of the first year's interest on the first issuance of reconstruction bonds will begin on April 9, 2025."

The bank added, "We invite all eligible investors to visit the nearest branch of our bank in Baghdad and the governorates to receive their dues."

The bank confirmed, according to the statement, that "the disbursement process will be carried out according to an organized and smooth mechanism that ensures speedy completion," adding that "the interest is fully available and has been transferred by the Central Bank of Iraq to our account," calling for "bringing supporting documents or documents related to the bond when visiting to facilitate the procedures."

The statement concluded that "this step comes within the framework of our commitment to providing the best banking services and enhancing confidence in development bonds as a safe and stable investment option  link

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Mot: ........ And then You Realize!!!!

Mot: Marriage vows

MilitiaMan & Crew: IQD News-World Bank-Private Sector-Direct Investment-Development-Economic Breakthrough-US-IRAN

MilitiaMan & Crew: IQD News-World Bank-Private Sector-Direct Investment-Development-Economic Breakthrough-US-IRAN

4-14-2025

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=mRNN8Z4mb2E

Iraq Economic News and Points to Ponder Monday Afternoon 4-14-25

Iran Informs Iraq Of Its Negotiations With The United States, And Baghdad Affirms Its Support For Any Effort That Contributes To Regional Stability

Buratha News Agency1712025-04-14   Foreign Minister Fuad Hussein received a phone call on Monday from Iranian Foreign Minister Abbas Araqchi, who briefed him on the latest developments in the Iranian-American negotiations.

A Foreign Ministry statement said that "Hussein received a phone call from Iranian Foreign Minister Abbas Araqchi, who briefed him on the latest developments in the Iranian-American negotiations that took place in the Omani capital, Muscat."

According to the statement, Araghchi indicated that the negotiations between the Iranian and American sides went well, noting that the nuclear project was discussed, stressing that the second round of talks will be held soon in the Italian capital, Rome, also under the auspices of the Sultanate of Oman.

For his part, Fuad Hussein expressed his "satisfaction with the ongoing dialogue process, appreciating the positive role played by the Sultanate of Oman in facilitating the negotiations, and affirming Iraq's support for any effort that contributes to enhancing regional security and stability."

At the conclusion of the call, Araghchi extended an official invitation to Fuad Hussein to visit Iran, as part of supporting bilateral dialogue and strengthening relations between the two countries. https://burathanews.com/arabic/news/458843

An Economic Expert Told Nina: There Is A Need To Establish A Supreme Authority For "Trans-Governmental" Strategies

Monday, April 14, 2025, | Economic Number of reads: 197  Baghdad / NINA / Economic and financial expert, Dhurgham Mohammed Ali, confirmed on Monday that all strategic government programs cannot be completed after the change of governments due to the change of goals and plans from one government to another. He stressed the need to draft a law establishing a permanent, cross-government supreme authority for strategic policies.

Mohammed Ali said in a special statement to the National Iraqi News Agency ( NINA ): "The concerned authorities must draft a law establishing a permanent, cross-government supreme authority for strategic policies with judicial supervision so that its decisions are binding on all governments," stressing: "Economic reform cannot be achieved through interim measures, but rather through strategic plans that continue for years with the aim of achieving what is required."

The economic expert explained: "Many of the components of economic reform that have begun to take place need follow-up because they take a long time to yield practical results that positively reflect on the Iraqi economy."

He pointed out that "banking and financial reform, developing the private sector and the investment environment are the priorities, along with combating corruption to achieve the best possible results." /End   https://ninanews.com/Website/News/Details?Key=1197718

 Corruption Risks And Electronic Content Regulation Are On The Government's Agenda.

April 14, 2025  Baghdad - Saad Mohammed Al-Kaabi   The Chairman of the Communications and Media Commission, Nawfal Abu Ragheef, and the Director General of the Education and Public Relations Department at the Integrity Commission, Ali Qasim Hamoud, discussed the dangers of corruption and its negative effects on Iraqi society, stressing the need to unify media efforts to launch awareness campaigns by producing effective, qualitative content that serves various segments of society.

A statement received by Al-Zaman yesterday stated that "the two sides discussed during the meeting the importance of cooperation between the two parties to support the values ​​of integrity and combat corruption through media and community guidance."

Integrity Values

Pointing out the importance of producing qualitative content that serves society, especially the youth, in line with consolidating the values ​​of integrity and national discipline, the meeting touched on employing various media outlets, including satellite channels, radio stations, news websites, and social media platforms, to spread awareness concepts, expand the base of interaction with the public, and enhance the culture of reporting corruption through safe and effective digital tools.

The statement added that this cooperation will be achieved through ensuring objective and effective media coverage of the activities of the two bodies, publishing their reports and outputs in a transparent manner, identifying mechanisms to support specialized journalistic investigations into corruption cases, and protecting journalists working in this field.

Pointing to the importance of building the capacity of media and awareness workers through specialized workshops and training courses, in joint coordination between the two institutions, while benefiting from solid international experiences in the field of preventive media and promoting the values ​​of institutional integrity.

Abu Zaghif stressed that Iraq does not allow communications to pass through any systems or countries that conflict with its national sovereignty, during his meeting in Baghdad with Rebecca Hunter, the senior official for global licensing and market activation at Starlink SpaceX.

During yesterday's meeting, he noted the Commission's openness to serious international investments, provided they fully comply with Iraqi laws and approved regulatory controls, serving the paths of technological development and digital transformation.

 The two sides discussed the requirements for granting an official license for the Starlink service within Iraq, the need to settle the status of unlicensed uses, and address their technical and legal implications, ensuring the orderly launch of the service within clear and stable frameworks.

They also reviewed integration mechanisms with national networks and local service providers, and the possibility of sharing the market in a way that preserves the rights of national operators, enhances fair competition, and expands options for users.

The Commission and the Ministry of Culture discussed mechanisms to support cultural content in the media and activate programming and production partnerships.

Yesterday’s statement explained that “the next phase will witness a wider openness to cultural institutions, and the strengthening of the national cultural discourse through responsible media and purposeful, qualitative content, within the framework of institutional integration and enhancing cooperation between government sectors to serve the cultural and media scenes.”

 The two sides stressed the importance of “activating programmatic and production partnerships between the Authority and the Ministry, which contributes to consolidating the national identity,” stressing “the need to support media and cultural initiatives that contribute to consolidating the concepts of diversity, belonging and community awareness, and coordinating efforts in the field of digital culture and governance of specialized content.”

Industrial Revolution

In a related context, Iraq seeks to keep pace with the Fourth Industrial Revolution and entrepreneurship, transition from a rentier economy to a digital economy, and prepare the infrastructure by focusing on strategic projects.

Minister of Communications, Hiyam Al-Yasiri, during her participation in the activities of the Iraqi Business Summit held in Baghdad, confirmed in a speech followed by (Al-Zaman) yesterday that (in order to strengthen the government’s steps in supporting the digital economy,

 progress is being made until Iraq plays an important role in keeping pace with the Fourth Industrial Revolution, entrepreneurship, and the transition from a rentier economy to a digital one, and preparing the infrastructure through strategic projects), pointing out (the ministry’s support for programs and projects that require digital transformation, which is one of the most important tools for combating administrative and financial corruption, supporting the digital economy, and maximizing revenues).

She explained that (there are government efforts to open the doors to any innovation and projects by the private sector in the field of cybersecurity and artificial intelligence, and to support youth opportunities, talents, and the creation of experts), indicating that (the ministry has played its role, and is still working to provide automated services and implement promising plans to develop optical fibers, and provide a secure government network to connect state institutions that serve various sectors with broadband internet, in addition to moving towards fifth generation services).  LINK

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

Seeds of Wisdom RV and Economic Updates Monday Evening 4-14-25

Good Evening Dinar Recaps,

NORTH CAROLINA BILL PROPOSES ALLOWING TAX PAYMENTS USING CRYPTO

▪️North Carolina lawmakers filed a bill that seeks to authorize the use of crypto for economic transactions, such as tax payments.

▪️The state has previously proposed bills to allow state investments in crypto.

North Carolina lawmakers have introduced a bill that seeks to allow the use of digital assets in tax payments and other economic transactions, marking the latest crypto-related legislative effort in the state.

Representative Neal Jackson filed H.B. 920, the Digital Asset Freedom Act, last Thursday with two co-sponsors.

"Digital assets are recognized as a valid medium of exchange in North Carolina," the bill said. "A transaction shall not be denied legal effect or enforceability solely because it uses a digital asset."

The Digital Asset Freedom Act outlines the criteria that digital assets must meet to be considered eligible. It requires a digital asset to have at least $750 billion in market capitalization and a daily trading volume of at least $10 billion to ensure liquidity and market depth.

The bill added that an eligible digital asset should have at least a 10-year track record of operating in an open market, with proven security and resistance to censorship.

@ Newshounds News™
Source:  The Block

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BINANCE EXECUTIVES MET WITH US GOVERNMENT OFFICIALS TO DISCUSS EASING OF REGULATORY SUPERVISION: REPORT

Executives at Binance reportedly sat down with Treasury Department officials in March to discuss the possibility of relaxing the US government’s regulatory scrutiny of the world’s largest crypto exchange.

Citing people familiar with the matter, the Wall Street Journal reports that Binance wants the Treasury Department to remove one of the two monitors that oversee the exchange.

The US government is keeping a close eye on Binance after it pleaded guilty to having engaged in anti-money laundering (AML), unlicensed money transmitting and sanctions violations.

The Treasury Department appointed a monitor to ensure that Binance complies with anti-money laundering laws, but a spokesperson for the exchange says that monitors led to “inefficient and costly burdens.”

The report says that during last month’s meeting, Binance chief executive Richard Teng and Chief Legal Officer Eleanor Hughes asked Treasury officials to remove the monitorship, or reduce its duration and scope.

Binance’s executives are said to be optimistic that the Trump administration will greenlight the request.

According to WSJ, the meeting took place after Binance and representatives from the Trump family-backed crypto venture World Liberty Financial held discussions to list the project’s dollar-pegged stablecoin, USD1, on the crypto trading platform.

A spokesperson for World Liberty Financial says that the company is aiming for USD1 to be “accessible for millions globally.”

@ Newshounds News™
Source:  The Daily Hodl

~~~~~~~~~

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Seeds of Wisdom RV and Economic Updates Monday Afternoon 4-14-25

Good Afternoon Dinar Recaps,

SEC AND BINANCE FILE JOINT MOTION FOR ANOTHER 60-DAY PAUSE IN LEGAL DISPUTE

▪️The SEC and Binance have asked the judge overseeing their legal dispute to pause the case for 60 days as “productive discussions” continue.

▪️The pause would extend the current 60-day stay, which was approved in February.

▪️If approved, the parties will submit a joint status report at the end of the 60 days, in mid-June.

The Securities and Exchange Commission and Binance, the world's largest crypto exchange, have asked the judge overseeing their legal dispute to continue keeping the case on hold as lawyers on both sides hold "productive discussions."

According to a joint court filing submitted Friday, the SEC requested the pause be extended "...In light of these continued discussions and the time required for the staff to seek authorization from the [SEC] as necessary to approve any resolution or changes to the scope of this litigation." Binance's lawyers agreed that "...continuing the stay is appropriate and in the interest of judicial economy."

Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia granted the parties' original request to stay the case in February, following a similar joint motion. The approval of another 60-day pause would mean the next joint status report would land in mid-June.

Though some of the SEC's claims against Binance were partially dismissed by Judge Jackson last June, the majority of the claims were upheld, though it remains unclear how the changing leadership of the SEC will affect the case. Friday's filing references "discussions concerning how the efforts of the crypto task force may impact the SEC’s claims."

The SEC's crypto task force is headed by Republican Commissioner Hester Pierce and has been holding roundtables with industry figures in a move towards more transparent regulation of the crypto industry. 

"We invite builders, enthusiasts, and skeptics to engage with us to figure out what the final rules should be and what interim steps might help to foster innovation in the meantime," Pierce said in February, shortly after the task force's creation.

@ Newshounds News™
Source:  The Block

~~~~~~~~~

BRICS GIVES HUGE UPDATE: NON-MEMBERS CAN SETTLE TRADE IN NEW PAYMENT SYSTEM

Russian Foreign Minister Sergey Lavrov announced that Brazil, which chairs the next summit in July, has proposed to create a new payment system where non-BRICS members can settle trade and cross-border transactions without incorporating the US dollar for settlements.

If non-member countries begin settling trade with the new payment system launched by BRICS, the US dollar could enter the path of decline. The US dollar could lose out on the global supply and demand mechanism making other currencies lead the charge.

BRICS Provides Major Update: Non-Members Will Be Allowed to Trade in the New Payment System

Lavrov confirmed that the upcoming initiative by BRICS is to allow non-members to settle trade in the new payment system. “There are a number of other initiatives currently under consideration within the BRICS format.

One of them being a proposal by Brazil to create an alternative payment platform, with work underway on this track. I am confident that countries, even those outside BRICS, will have access to such mechanisms when they are created.”

He added that the new BRICS payment system will be independent and not rely on the Western financial mechanism. The platform will not depend on SWIFT, the US dollar, or the euro and pound, but will be an independent system. 

“There is an opportunity to form payment platforms independent of external influence. One example being the financial messaging system of the Bank of Russia. It is convenient, and it does not depend on any SWIFT network,” the minister noted.

It is not known when the new BRICS payment system will make its debut in the global financial markets. No further details about the new system have been revealed by the alliance. However, they will discuss the developments further in the upcoming 17th summit in July. The summit is scheduled to be held in Rio De Janeiro on July 7 and 8, 2025.

@ Newshounds News™
Source:  Watcher Guru

~~~~~~~~~

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Some “Iraq News” Posted by Clare at KTFA 4-14-2025

KTFA:

Clare:  Who controls the dollar exchange rate now? Arian parliament answers.

4/14/2025  Economy

Member confirmed Finance Committee Mustafa Al-Karawi Today, Monday, the current controlling factor for the dollar exchange rate is foreign remittances.

Al-Karawi told Sumaria News, “There are still large gaps in this process, and we notice the presence of hard currency in local markets in large quantities that do not match the volume of imported goods.”

He continued, “Foreign remittances and control over auditing... Bills The dollar exchange rate is controlled by the Central Bank, taxes, customs, and border crossings,” he said, noting that “the problem of controlling the volume of imported goods and comparing them with the volume of amounts transferred outside Iraq "It is still going on."

He continued, “We are working to ensure seriousness and find radical solutions to the problem of foreign remittances,” calling for “the need to adopt a new electronic system that manages this process, independent of personal actions.”   LINK

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Clare: Iraq intends to purchase and manufacture 23 cruise ships.

4/14/2025- Baghdad

The Ministry of Transport intends to contract for the purchase and manufacture of 23 different vessels and boats to support the river transport sector and stimulate its movement locally and internationally as part of a plan to revitalize the sector in the country.

The Director General of the Ministry's General Maritime Transport Company, Ahmed Al-Asadi, said his company intends to contract for the purchase of 15 tourist boats to activate the river taxi project, in conjunction with the Ministry's plan to develop the Corniche dock in Basra Governorate, which is currently being referred for implementation.  

He added that his company is planning to build eight new vessels, and has submitted the project to the Cabinet Secretariat to obtain the necessary approvals. He revealed that the company has begun receiving offers from companies for the purpose of joint operation with the company's fleet for integrated transportation of various types of vessels. He pointed out that the completion of these contracts will complete the transportation mechanism for his company from containers, ships and docks, as it owns shares in a commercial dock and another for oil.  LINK

Frank26:  "ASRAFLAK !!!... THIS SUGGESTS AN INCREASE IN THE IQD EXCHANGE RATE !!!".......F26 

Plunging Oil Prices Jeopardize Iraq’s Budget: Will the Government Resort to Dollar Revaluation?

 4/13/2025

Iraq is bracing for renewed economic turbulence as oil prices fall below the critical $65 per barrel mark—five dollars short of the benchmark adopted in the country’s federal budget. The slide in global crude markets threatens to erode the very foundation of Iraq’s oil-dependent economy, prompting speculation over potential fiscal and monetary policy shifts.

According to economic analyst Salah Boushi, the continued depreciation in oil prices could severely undermine the state’s ability to fund essential institutions and public services. “The longer this drop persists, the more pressure the government will face,” he told Kurdistan24. “A flexible, carefully calibrated strategy is imperative. Increasing oil production may become necessary to offset lost revenues.”

While some officials advocate for boosting output, others warn against hasty decisions involving Iraq’s monetary reserves. The central bank’s hard currency reserves, considered a last line of defense, are unlikely to be tapped under current circumstances. Still, one policy instrument remains within reach—and contentious: the exchange rate.

Economic expert Ahmed al-Ansari noted that while Iraq’s reserve fund is generally safeguarded for emergencies, adjusting the value of the Iraqi dinar relative to the U.S. dollar remains a plausible option. “We’re unlikely to see the reserves touched, but a revaluation of the dinar, coupled with domestic borrowing, could help bridge a potential deficit,” al-Ansari explained.

The recent price plunge has also sparked unconventional proposals. Some economists have suggested postponing monthly salary disbursements by an additional ten days—shifting from a 30-day cycle to 40—as a temporary measure to alleviate budgetary stress and delay liquidity shortfalls.

Iraq’s fiscal vulnerability is deeply rooted in its dependency on oil, which constitutes nearly 90% of national revenue. Any significant fluctuation in the global oil market poses a direct threat to the country’s financial stability. As prices continue to fall below projections, the government faces the unwelcome prospect of making “painful” adjustments that could directly affect ordinary citizens.

For Iraq’s population—already grappling with inflation and diminished purchasing power—the prospect of a revised exchange rate raises alarm. A stronger dollar would translate into more expensive imports, triggering a ripple effect on everyday goods and services.

With few viable alternatives in the short term, and in the absence of economic diversification, the Iraqi government may be forced to choose between austerity and structural reform—or risk spiraling into a deeper crisis.   LINK

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Clare:  Iraq awaits economic breakthrough following US-Iran agreement

4.14.2025   - Baghdad: 

Amid the successive crises facing Iraq, the national economy stands on the edge of waiting and anticipation, searching for a glimmer of hope that will open windows of relief amid the blocked financial horizon and the tightening noose on the local market.

Amid the anxiety of traders and the fear of consumers, the signs of the anticipated agreement between the United States of America and the Islamic Republic of Iran emerge as an opportunity that may carry within it the features of an economic breakthrough for Iraq, after years of suffering due to sanctions and regional tensions.

With every announcement or hint of progress in the negotiations, Iraqis' hopes are pinned on the possibility of liberating themselves from the shackles of complex transactions, and that this agreement will transform from a mere political card into a key to facilitating trade, ensuring stability, and protecting what remains of their purchasing power and economic capacity, which has been weakened by regional tensions.

Economic expert Nasser Al-Tamimi confirmed on Monday (April 14, 2025) that the expected agreement between the United States of America and the Islamic Republic of Iran will have economic benefits for Iraq.

Al-Tamimi told Baghdad Today, “The expected agreement between Washington and Tehran during the next phase is not only politically and security-wise important for Iraq, but also has economic benefits for Iraq. This agreement will lift some US sanctions against Iran, especially those related to the dollar issue. This may allow Iraq to conduct commercial transactions with Iran in dollars through official and legitimate means, and stop the black money transfers used by most traders.”

He added, "Among these economic benefits is Iraq's continued import of gas and electricity without any American obstacles or impediments. Therefore, the anticipated US-Iran agreement is of great importance to Iraq. However, if no agreement is reached and the situation escalates between the two parties, Iraq will be the most affected by this."

With the escalation of talk about a possible agreement between Washington and Tehran, expectations are growing that some of the restrictions imposed will be eased. This could give Iraq a new opportunity to regulate its trade with Iran through official and legitimate channels, mitigate the impact of recurring energy crises, and restore some balance to the local market, which has been chronically constrained by these regional and international challenges. LINK

“Tidbits From TNT” Monday 4-14-2025

TNT:

Tishwash:  MP: June will mark the end of dollar smuggling in Iraq

Member of Parliament Majid Shingal confirmed on Sunday that June will witness an end to dollar smuggling operations, noting that strict oversight will be imposed on the funds of companies, politicians, and influential people. 

Shingal said in a statement monitored by (IQ): "Our transfers are currently considered dollar smuggling, but the situation is now better. I believe that in June, regular correspondence will be adopted, which will significantly reduce smuggling, and may even lead to its near disappearance." 

He noted that "some type of oversight will be imposed on the payment system in Iraq, including knowing who paid, how they paid, and where the money was spent. These processes will be automated to ensure transparency and track expenditures."

Shingal explained: "The goal of these measures is to reduce the amount of support provided to factions and those loyal to Iran. It is true that reaching zero support is not currently possible, but we are very close to achieving it, and this is the primary goal." 

He added, "Another goal is the entry of 60 American companies into the Iraqi market daily, and this is a very positive sign." 

He pointed out that "these measures will include political forces, influential people, and corrupt individuals, not just factions, as there are many individuals with improper financial dealings. In June, comprehensive oversight of companies, funds, and all audits will begin, and this is in Iraq's interest."

Shingali continued, "I heard that there is a freeze (block) of some politicians' funds in foreign banks, and this is said, but I do not know how true it is. In the same month, the official audit will begin, and these accounts will be revealed, to whom they belong, and where they were transferred. It is worth noting that these accounts are located in Europe and can be stopped at any moment." 

He concluded by saying, "These politicians always benefit from the money they steal from people in their countries and deposit in foreign banks, but in the end, they get nothing from it. To this day, the former regime's assets have not been recovered, and there is still money deposited in anonymous bank accounts, frozen in Switzerland and other countries."  link

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Tishwash:  National Investment Commission: We are committed to providing an attractive investment environment and projects.

During the first Iraq Business Summit 2025 (IBS), held in Baghdad with the participation of the Ministers of Communications and Industry and Minerals, government officials, local and international investors, and private sector businessmen, Haider Mohammed Makiya, Chairman of the National Investment Commission, said that “the summit aims to enhance the business environment in Iraq and attract foreign investment, especially in the energy, communications, infrastructure, and other sectors.”

During the summit's dialogue session, Makiya affirmed, according to a statement, "the National Investment Commission's commitment to providing an attractive investment environment and projects for Iraq and the region."

The Chairman of the National Investment Commission gave a detailed explanation when presenting the largest national strategic project that serves Iraq’s geographical location, represented by the establishment of “international data centers” and the passage of international data and the provision of electrical energy and the passage of Internet capacities (Digital Economic Services for Private Sector). It is an investment project that will be granted an investment license later, as it is within the scope of the work of the National Investment Commission under Regulation No. (2) of 2009 (under Article / Fourth - Second - B) amended and approved by the Council of Ministers, which was published in the Iraqi Gazette.

Makiya explained that "the Prime Minister has approved the project, and the National Authority will proceed to complete the previous international approvals in order to strengthen economic relations with sister and friendly countries."

In the same context, he noted that "Iraq looks forward to strong economic and trade relations with international governments and companies, particularly those interested in the project from the Gulf states and other countries in the region. This reflects the National Investment Commission's commitment to enhancing the business environment in Iraq and attracting foreign investment by providing the necessary facilities and guarantees in line with global trends toward major investment projects."

The summit's opening session focused on the importance of digital transformation in supporting the Iraqi economy, while showcasing successful models of public-private partnerships. It also addressed financing and international cooperation, which reviewed the mechanisms for financing major projects and the role of international financial institutions in supporting economic development in Iraq. link

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Tishwash:  Al-Mashhadani confirms to a US delegation the possibility of developing and amending the Iraqi constitution.

Parliament Speaker Mahmoud al-Mashhadani affirmed on Sunday the possibility of developing and amending the Iraqi constitution.

The House of Representatives stated in a statement received by ( IQ ), "The Speaker of the House of Representatives received, today in Baghdad, a high-level delegation from the US Congress and members of the US Embassy. During the meeting, bilateral relations between Iraq and the United States were discussed within the framework of the Strategic Framework Agreement, and ways to enhance joint cooperation in the political, economic and security fields ."

He added, " The visiting delegation included Representative Adam Smith, the ranking member of the House Armed Services Committee for the Democratic Party, Representative Sarah Jacobs, Representative Michael Baumgartner, Representative George Whitesides, and Representative Wesley Bell, in addition to the US Chargé d'Affaires Daniel Rubinstein, and a number of advisors and professional staff members of the Armed Services Committee ."

During the meeting, the Speaker of Parliament emphasized "the importance of the Strategic Framework Agreement as the cornerstone of Iraqi-American relations," stressing "the need to activate its provisions to ensure mutual interests between the two countries, particularly in the areas of developing the national economy and investing in non-oil sectors such as agriculture and industry . "

He pointed out, "The importance of the Iraqi Constitution as a foundation for the democratic system in the country, with the possibility of developing and amending it in accordance with Article (142) and in a manner consistent with the aspirations of the Iraqi people ."

He stressed the "need to develop the education and agriculture sectors, and to support political and security stability in Iraq and the region," expressing "Iraq's firm position in supporting efforts to achieve a ceasefire in Gaza, and the need to end wars and conflicts in the region in a way that contributes to consolidating peace and achieving prosperity ."

For its part, the US delegation affirmed the United States' commitment to supporting Iraq in various fields and strengthening the existing strategic partnership between the two countries, reiterating the US Congress's keenness to communicate effectively with Iraqi leaders to continue joint work for a better future for both countries.   link

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

Mot: Yeppers... Sum mor Intuition on that ""Marital Thingy" 

Mot:  . Karma!! -- Don't Ya Loves ""Karma""

Seeds of Wisdom RV and Economic Updates Monday Morning 4-14-25

Good Morning Dinar Recaps,

CLEAN CLOUD ACT' DRAFT BILL REQUIRES CRYPTO MINERS TO CUT EMISSIONS OR FACE FINES

▪️Senate Democrats introduced a bill Thursday that would set regional limits on the emissions from crypto mining facilities and AI data centers, imposing fines on facilities that surpass the cap.

▪️The regional caps would be reduced by 11% annually until reaching zero by 2035, requiring facilities to operate on 100% renewable energy, or face fines.

▪️The draft bill would also require facilities to submit detailed annual reports on electricity usage and sourcing to allow the EPA to calculate each facility’s emission intensity.

A draft bill dubbed the "Clean Cloud Act of 2025" introduced to the U.S. Senate by Democratic Senators Sheldon Whitehouse and John Fetterman seeks to curb emissions from crypto mining facilities and AI data centers, with the eventual goal of fining any facility using non-renewable energy sources by 2035.

The draft bill would amend the Clean Air Act to require data centers with more than 100 kW of energy capacity to meet emissions caps that vary by region, as laid out in the Department of Energy's National Transmission Needs Study.

The caps would be set by the end of 2025, and would lower by 11% each year until reaching zero in 2035. Facilities that exceed the emissions caps would pay inflation-adjusted fees based on how much their emissions exceeded the caps, and are forbidden from passing the costs off to customers.

The collected funds would be used to alleviate potential residential electricity cost increases through grants to local municipalities and also to fund clean energy deployment.

"Crypto & AI data centers can support clean energy, but they're burning more fossil fuels & driving up families’ energy prices instead," the X account representing the Democrats of the Senate Committee on Environment and Public Works wrote. "We can lead on AI & climate safety with [Whitehouse]’s Clean Cloud Act, which ensures that the industries profiting also pay their own way."

The facilities would also be required to make detailed annual reports about their electricity consumption and sourcing, allowing the EPA to calculate the greenhouse gas emission intensity of each facility, and evaluate any possible fines based on the regional caps.

The responsibility for paying the fines would be assigned to the tenants leasing the facilities, not the landlords, which could loop in startups renting server space to the reporting requirements and fines.

The bill will likely face opposition from Republicans in Congress. President Trump has expressed a desire for the United States to become the world's most significant Bitcoin mining power. President Trump's eldest sons are also planning to take their own Bitcoin mining company public, The Block previously reported.

@ Newshounds News™
Source:  The Block

~~~~~~~~~

SENATOR ELIZABETH WARREN LAUNCHES FRESH OFFENSIVE ON CRYPTO

▪️Senators Elizabeth Warren, Mazie K. Hirono, and Dick Durbin want the DoJ’s decision to terminate crypto investigations reversed.

▪️The Senators raise concerns over the DoJ’s shift in priorities, terming it a “grave mistake.”

▪️The lawmakers point out possible conflicts of interest, highlighting President Trump’s cryptocurrency ventures as potential beneficiaries.

Senators Elizabeth Warren (ranking member of the United States (US) Senate Committee on Banking, Housing, and Urban Affairs) alongside Mazie K. Hirono (senior member of the Senate Judiciary Committee) and Dick Durbin (ranking member of the Senate Judiciary Committee) led a team of six senators calling on the Deputy Attorney General Todd Blanche to recall and reverse the decision taken by the Department of Justice (DoJ) to terminate cryptocurrency investigations and prosecutions.

The decision reported by FXStreet was communicated to the agency’s staff in a memo and included information on the disbandment of the National Cryptocurrency Enforcement Team (NCET), which was established to investigate and prosecute people charged with the criminal misuse of digital assets.

Senators protest the DoJ decision to terminate cryptocurrency investigations

The Senators addressed their concerns in a letter sent to Deputy Attorney General Todd Blanche, raising concerns about a conflict of interest between the DoJ’s decisions and US President Donald Trump and his family’s cryptocurrency ventures.

According to the lawmakers, the memo gives “a free pass to cryptocurrency money launderers,” referring to the actions as “grave mistakes that will support sanctions evasion, drug trafficking, scams and child sexual exploitation.”

The DoJ memo outlined that the agency will no longer act on several federal laws targeting entities and institutions that deal with cryptocurrencies.

The list included mixing and tumbling services often utilized as conduits for hiding illegal assets and laundered money — proceeds from illegal activities like scams, drug trafficking, child sexual abuse and theft.

“Drug traffickers, terrorists, fraudsters, and adversaries will exploit this vulnerability on a large scale,” the Senators wrote, adding that “further increasing the risks posed by bad actors is your decision to disband NCET, which has coordinated a Department-wide effort to prosecute illicit activity involving cryptocurrency.”

Blanche’s memo indicated that the resolution to disband NCET would ensure that the DoJ “focus on other priorities, such as immigration and procurement frauds.”

The letter also stipulated that the shift in the DoJ’s priorities hints at the conflict of interest with President Trump and his family potentially selling cryptocurrency and avoiding “law enforcement scrutiny.”

The Senators concluded their letter by requesting Blanche to reconsider the decisions communicated in last week’s memo.

President Trump’s administration has implemented several major actions aimed at creating a crypto-friendly environment in the US. On January 23, an executive order was signed to foster regulatory clarity and ban central bank digital currencies (CBDCs).  On March 6, the President signed an executive order establishing a strategic Bitcoin reserve and digital assets stockpile.

Other actions taken by President Trump include establishing a crypto task force and spearheading a policy shift at the Securities and Exchange Commission (SEC). On January 23, the SEC canceled Staff Accounting Bulletin No. 121 (SAB 121), which made it difficult for institutions to hold and custody digital assets.

At the time of writing on Monday, Bitcoin (BTC) and other cryptocurrencies remain relatively elevated from early last week’s levels, which had been battered by President Trump’s reciprocal tariffs. The President suspended the tariffs for 90 days on Wednesday, triggering relief rallies in global markets, including crypto.

@ Newshounds News™
Source:  FX Street

~~~~~~~~~

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Countries Dumping USD? Failed Treasury Auction

Countries Dumping USD? Failed Treasury Auction

David Lin:  4-13-2025

The global financial landscape is shifting, and whispers of the US dollar’s diminishing dominance are growing louder. A recent failed Treasury auction has added fuel to the fire, prompting economists and analysts to question the stability of the US economy and the future of inflation.

David Lin recently spoke with Steve Hanke, Professor of Applied Economics at Johns Hopkins University, to unpack these concerns. Hanke, a renowned economist known for his expertise in currency boards and hyperinflation, offered a sobering perspective on the current economic climate.

One of the most alarming topics discussed was the recent failed Treasury auction. These auctions are crucial for the US government to finance its debt and operating expenses.

When an auction fails, it signals a lack of investor confidence, potentially leading to higher interest rates and increased borrowing costs for the government. Hanke didn’t mince words, stating that the failed auction indicates “things are just warming up,” suggesting that more economic turbulence is on the horizon.

This lack of investor confidence is often linked to concerns about burgeoning US debt levels. As the national debt continues to climb, some nations are reportedly considering diversifying their reserves by moving away from the US dollar in favor of other currencies or assets, a process known as de-dollarization. While not a sudden exodus, this gradual shift could weaken the dollar’s position as the world’s reserve currency.

Hanke also addressed the burning question of recession odds. While economic indicators often paint a mixed picture, Hanke leaned towards a more pessimistic view, suggesting that the risk of a recession remains elevated. He emphasized that the Fed’s tight monetary policy, aimed at curbing inflation, could potentially trigger a downturn.

Speaking of inflation, Hanke pointed out that despite the Fed’s efforts, inflation is proving to be persistent. He warned that controlling inflation might be a longer and more challenging process than many anticipate. This persistence, coupled with potential recessionary pressures, presents a complex challenge for policymakers.

While the prospect of a declining dollar and a potential recession is undoubtedly concerning, it’s crucial to remember that economies are dynamic and constantly evolving. The conversations sparked by events like the failed Treasury auction are essential for understanding the changing landscape and making informed decisions about the future.

As Hanke suggests, these are just the first rumblings of what could be a significant shift in the global financial order. It’s a time for vigilance, careful analysis, and a preparedness to adapt to the evolving economic reality.

https://youtu.be/_OzfBdodLu4