Goldlocks Economic News For Saturday 5-27-2023
Goldilocks and Seeds of Wisdom
Thank you RJ
Good morning Dinar Recaps,
Goldilocks posted some news links with comments this morning:
"Today, Saturday, the Governor of the Central Bank of Iraq, Professor Ali Mohsen Al-Alaq, announced the establishment of the Riyada Bank for Social Development, and the new bank will work to support the segments of Iraqi society, pointing out that the bank has social and economic dimensions, and the Central Bank of Iraq will provide the necessary support through various initiatives to make this project a success."'
Iraq is currently activating the private sector through the new banking initiative of the Riyada Bank for Social Development.
This project will liquidate non-oil sectors, provide letters of guarantee, and liquidity for low-income segments of the society.
It will level the playing field for many sectors of the Iraqi economy.
© Goldilocks
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What is IOSCO?
"IOSCO is an umbrella organization of regulators which includes the following:
Securities and Exchange Commission of the US.
Financial Services Agency of Japan.
Financial Conduct Authority of the United Kingdom.
BaFin of Germany.
All of these are polling the public on the regulations."
The First Set Of Global Laws are making their way into the Crypto Currency World.
There are more on the way, and these set of laws are designed to secure Global transactions from money laundering and terrorism.
© Goldilocks
Inventiva LINK
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"Bank for International Settlements to issue second set of policy for retail CBDC."
We are starting to get more clarity on Central Bank Digital Currencies.
The wholesale side of CBDCs are in process of implementation, but the CBDCs on the retail side are still in process of forming guidelines for implementation.
Many of the concerns people have noted include privacy issues. On the technical side, scalability in using it as another form of a currency payment for the general public has not been worked out.
The retail side of CBDCs may take some time to develop, but stablecoins that represent a country's currencies are expected to find clarity by the end of June.
© Goldilocks
Financial Express LINK
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The SEC has now adopted a T+1 settlement date.
It used to take 2 days for a settlement transaction between a broker and a dealer.
Because of the new digital asset-based trading system, security-based swaps are now done in one day i.e. currencies.
© Goldilocks
JDSupra LINK
Law Cornell Edu LINK
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Protocol 20 is coming into play in our new digital asset-based trading system.
This is the new tokenized standardization process for currencies in digital format coming into play.
The standardization of currencies are in process and moving to an implementation stage.
This uniformity will organize a structure of exchange creating more money velocity and demand for countries' currencies around the world.
These new demands will create more purchasing power for their use.
© Goldilocks
https://blockzeit.com/brc20-src20-orc20-more-the-information-you-need-to-get-up-to-speed/
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