Goldilocks "Our new monetary system is about to become official, and it begins next month."
Goldilocks and Seeds of Wisdom
RJ: Good afternoon Dinar Recaps,
Goldilocks posted comments and links this morning:
Investors shift their focus to Powell's upcoming speech on Wednesday | Kitco News
Jerome Powell is expected to give us an assessment of where we are with inflation today.
After pausing interest rates, he is expected to share with us more interest rates going higher and closing this down before the end of the year with a possible cut in interest rates.
This pause gave him some time to assess where we are in the old economy and project where we are going in the new one.
He's expected to give a talk today.
© Goldilocks
We finally have digital asset clarity. A bill has been drafted, proposed, and given this week to be voted upon.
This bill will serve as our new digital-asset-based trading system going forward.
It provides clarity between the CFTC and the SEC on areas whereby each has been given authority to secure this new bill.
Below is the place you will find this new bill seeking to become law. Once it is approved, you will see announcements come out early next month.
Our new monetary system is about to become official, and it begins next month.
© Goldilocks
https://www.congress.gov/bill/117th-congress/house-bill/4741?s=1&r=38
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☝️Digital Asset Market Structure and Investor Protection Act
This bill generally addresses the regulatory treatment of digital assets and digital asset securities.
The bill grants the Commodities Futures Trading Commission authority over digital assets, which (1) are created electronically or digitally through software code; (2) are programmed with rules that govern the creation, supply, ownership, use, and transfer of the asset; (3) have a secure transaction history; and (4) are capable of being transferred through a decentralized method without an intermediate custodian.
Additionally, the bill grants the Securities and Exchange Commission authority over the regulation of digital asset securities, digital assets that provide the holder with (1) equity or debt interest in the issuer, (2) rights to certain payments from the issuer, (3) voting rights in the major corporate actions of the issuer, or (4) liquidation rights in the event of the issuer's liquidation.
Digital assets and digital asset securities are subject to the Bank Secrecy Act for anti-money laundering, reporting, and recordkeeping purposes.
The Board of Governors of the Federal Reserve System may issue digital currency. However, digital assets, digital asset securities, and fiat-based stablecoins (a digital asset pegged to the U.S. dollar or other fiat currency) are not U.S. legal tender.
Digital asset fiat-based stablecoins must be registered with and approved by the Department of the Treasury.
Digital assets shall not be covered by the Federal Deposit Insurance Corporation and the National Credit Union Administration depository insurance.
The Financial Crimes Enforcement Network must issue rules regarding the use of anonymizing services and other anonymity-enhanced convertible virtual currency services.
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Our CBI Banker let us know this morning that a rate change for the Iraqi Dinar has not happened YET.
© Goldilocks
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"MicroStrategy is an enterprise business intelligence (BI) application software vendor. Its flagship platform contains multiple features designed to help enterprises make data-driven decisions and optimize business processes."
Here it comes. More liquidation taking place for the new digital asset-based trading system.
This software vendor will distribute the Bitcoin Network across all sectors of the digital markets.
© Goldilocks
https://cryptopotato.com/microstrategy-buys-12333-btc-for-350-million-at-28k-per-bitcoin/
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"Project Guardian is MAS' collaborative initiative with the financial industry to test the feasibility of applications in asset tokenisation and decentralised finance. MAS also announced an expansion of Project Guardian to test the potential of asset tokenisation across more financial asset classes.1 day ago"
MAS Proposes Digital Asset Framework, Expands Project Guardian Scope | Fintech Singapore
https://fintechnews.sg/75542/digitalassets/mas-proposes-digital-asset-framework-expands-project-guardian-scope/
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It looks like Project Guardian is expanding into other countries.
This Project is responsible for tokenizing assets.
This Project Guardian started in Singapore and has expanded into Japan.
Next stop...
© Goldilocks
https://cryptobriefing.com/japan-joins-singapores-global-fintech-collaboration/
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Free Q & A on TRUSTs tonight with Bob Lock, Common Law Trusts, Bernnie Besherse, Charitable Religious Trusts, and Texas Snake sharing how he uses trusts. The call will be live tonight at 7 pm EDT, 6 pm CDT in the Planning room and you can post questions ahead of time also in the Planning room here:
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Thank you Dinar Recaps