Goldilocks' Comments and Global Economic News Thursday Evening 12-28-23
Goldilocks' Comments and Global Economic News Thursday Evening 12-28-23
Good evening Dinar Recaps,
Spot bitcoin ETF approval may be coming in January, experts say.
Investors await approval for the first U.S. spot bitcoin exchange-traded fund, which would be a milestone for cryptocurrency investors.
Discussions between the Securities and Exchange Commission and asset managers with pending spot bitcoin ETF applications have advanced.
Still, bitcoin "remains an extremely volatile and speculative asset,” said Bryan Armour, director of passive strategies research for North America at Morningstar.
https://www.cnbc.com/2023/12/26/spot-bitcoin-etf-approval-may-be-coming-in-january-2024.html
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Fincen issues final beneficial ownership access rule American Banker Link
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Stablecoins are cryptocurrencies designed to maintain a stable value, often pegged to a 1:1 relationship with a fiat currency. As a result, absent a depegging, stablecoins do not demonstrate the volatility that is associated with other cryptocurrencies.
Because of their stability, stablecoins form a bridge between traditional finance and decentralized finance capabilities by making it easier for businesses and individuals to conduct transactions and make investments.
S&P Global Ratings Stablecoin Stability Assessment is designed to provide market stakeholders with transparency into the stability of various stablecoins and specific insight into their depegging risks.
SP Global Link
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"The Financial Accounting Standards Board (FASB) has issued a new accounting standard to improve the accounting for and disclosure of certain crypto assets."
This new standard will give companies the ability to fairly account for the cryptos they hold.
These particular cryptos have been tested on the market to determine fair market values that will enable standard protocols in their net worth and use.
These news standards will provide guidelines to enable companies to assess and report the real values of the cryptos they hold.
Early adoption is encouraged at the beginning of the new fiscal year and mandatory adoption is expected on December the 15th 2024.
© Goldilocks
FASB Link
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Stellar Crypto Releases Guide on How to Prepare for January 30, 2024 Mainnet Upgrade Vote
On December 18, Stellar upgraded and reset its testnet, followed by the release of the new protocol 20 version of Stellar Core, Horizon, Soroban RPC, and the Stellar SDK. According to Stellar, its network validators will vote on the initiation of its mainnet upgrade on January 30, 2024, 15:00 UTC.
On the assumption that this upgrade would occur, Stellar released a guide for businesses and developers on its network to follow. The guide mostly included instructions on installing the upgraded version of Stellar-related software so that it would be compatible with the new Protocol 20 versions.
The general objective of this upcoming upgrade is focused on enhancing functionality, performance, security, and stability, which will positively impact Stellar. See the mainnet roadmap for more details.
https://biz.crast.net/stellar-xlm-launches-mainnet-upgrade-plans-axie-infinity-axs-unveils-axie-parts-evolution-everlodge-eldg-disrupts-established-nft-protocol/
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Businesses and Corporations have until January the 30th, 2024 to upgrade their computer systems to the new digital asset-based trading system (QFS) inside Protocol 20.
© Goldilocks
https://biz.crast.net/stellar-xlm-launches-mainnet-upgrade-plans-axie-infinity-axs-unveils-axie-parts-evolution-everlodge-eldg-disrupts-established-nft-protocol/
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JPMorgan is Starting to get Loud about Its Blockchain Products
J.P. Morgan, one of the world’s leading financial institutions, has recently announced that it is ramping up its efforts to promote and expand its blockchain product suite, Onyx. Onyx is a platform that leverages distributed ledger technology (DLT) to provide innovative solutions for payments, clearing and settlement, trade finance, and digital asset management. Tekedia Link
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Introduced in House (01/09/2023) To promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national sales tax to be administered primarily by the States.
https://www.congress.gov › house-billText - H.R.25 - 118th Congress (2023-2024): FairTax Act of 2023 | Congress.gov
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Will 2024 be the year tokenization takes off in private markets? Ledger Insights Link
👆 Goldilocks pointed to this article
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Unfair foreign pricing and government subsidies distort the free flow of goods and adversely affect American business in the global marketplace. Enforcement and Compliance, within the International Trade Administration of the Department of Commerce, enforces laws and agreements to protect U.S. businesses from unfair competition within the United States, resulting from unfair pricing by foreign companies and unfair subsidies to foreign companies by their governments.
https://www.trade.gov/us-antidumping-and-countervailing-duties
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The Advisory Committee on Supply Chain Competitiveness was formed to provide the Secretary of Commerce with detailed advice on the elements of a comprehensive national freight infrastructure and freight policy to support U.S. supply chain and export competitiveness. The Committee’s work is intended to further the Administration’s export, economic, and job growth goals.
Per the charter, the Committee advises the Secretary on the necessary elements of a comprehensive, holistic national freight infrastructure, and a national freight policy designed to support U.S. export growth, foster national economic competitiveness, and improve U.S. supply chain competitiveness in the domestic and global economy.
https://www.trade.gov/advisory-committee-supply-chain-competitiveness
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IndusInd Bank launches ‘eSvarna’, India’s first Corporate Credit Card on RuPay network
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The empty vault’s heavy steel door stood ajar at the end of November beside the last unclaimed silver proof coins set in piles to be sold at auction. Inquirer Link
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Ray Dalio, who’s worth $19.1 billion dollars warns that Biden’s inflation will send America back to the 1970s. So when that happens…
“You want things that are basically anti-money… you want gold.”
John Paulson, who’s worth $3 billion dollars said central banks have been replacing dollars with gold, and we’re just at the beginning of that trend… “Gold will go up and the dollar will go down, so you’d be better off keeping your investment reserves in gold at this point.”
Naguib Sawiris, who’s worth $3.4 billion dollars says 20 to 30% of your portfolio should be in gold for a very good reason:
“Let’s say inflation comes in and there is a crash in the stock market for any reason or the other, then you will be very happy you have a position in gold.”
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Mortgage Rates Dropped a Lot but Clearly Not to the Magic Level. Buyers’ Strike Continues. Issue Is Price Wolf Street Link
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Names Connected To Epstein Ready To Be Released, [DS] Cover Up Will Bring It All Down – X22 Report - Ep. 3245
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