Seeds of Wisdom RV and Economic Updates Monday Afternoon 3-24-25
Good Afternoon Dinar Recaps,
SEC SHOWS SUPPORT FOR COINREGTECH’S CRYPTO MARKET REGULATION PROPOSAL
The U.S. Securities and Exchange Commission has responded favorably to a proposal from CoinRegTech, a cryptocurrency market regulation service provider, aimed at improving oversight and transparency in the digital asset securities market.
The proposal outlines key regulatory measures designed to address investor protection, market structure, and transaction reporting. CoinRegTech’s recommendations focus on three main regulatory changes that aim to strengthen the framework surrounding digital asset securities.
First, the proposal emphasizes the need for clearer investor protection measures and urges the SEC to enforce structural requirements for trading platforms that facilitate digital asset securities transactions. This would help ensure that investors are adequately safeguarded in an evolving market landscape.
Second, CoinRegTech advocates for revisions to the Securities Exchange Act to enhance transaction reporting mechanisms. These updates would also aim to clarify market supervision responsibilities, thereby improving the overall structure and reliability of the market.
Third, the firm introduces the Digital Asset Electronic Reporting System, which is proposed to be developed in collaboration with the Commodity Futures Trading Commission. This new reporting system would play a vital role in enhancing regulatory oversight of digital asset transactions, promoting greater transparency and accountability in the market.
According to CoinRegTech, implementing these recommendations would increase transparency in cryptocurrency markets, enhance investor protection, and contribute to a more stable regulatory environment.
@ Newshounds News™
Source: Crypto News
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INDIA CONVEYS TO BRICS: ‘WE WILL NOT DITCH THE US DOLLAR’
BRICS member India is repeatedly making it clear that they will not ditch the US dollar for trade and transactions. India’s Foreign Minister S. Jaishankar spoke in the Parliament regarding the de-dollarization agenda and the country’s role in it. He confirmed that India is steering off any anti-dollar moves amid US President Donald Trump’s tariff threats.
“BRICS, a platform that has grown in membership and agenda over the last two decades, seeks to enhance understanding among the international community,” said Jaishankar in response to a question in the Lok Sabha Parliament. Trump had threatened to impose tariffs on India and all BRICS nations if they plan to reduce dependency on the US dollar.
Jaishankar added that India has conveyed its stance to the US authorities during bilateral discussions that they will not pursue the BRICS agenda of sidelining the US dollar. Therefore, the de-dollarization initiative and the formation of a new common currency might be kept on hold.
BRICS: India Wants the US Dollar’s Reign To Continue
India took a U-turn from the BRICS anti-US dollar initiative after Trump reclaimed the White House in November. Both countries are sharing cordial relations with little to no threat to uproot the USD from the global reserve. This is in stark contrast with the BRICS alliance that is aiming to topple the greenback from the supreme status.
Apart from India, even Brazil, which chairs the 17th BRICS summit, is looking to keep the US dollar’s dominant position. Four government officials told Reuters on the condition of anonymity that Brazil will not pursue the common currency this year. Only Russia, China, and Iran are advancing the de-dollarization agenda hoping that their local currencies can take the top spot.
@ Newshounds News™
Source: Watcher Guru
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