Seeds of Wisdom RV and Economic Updates Monday Afternoon 9-30-24
Good Afternoon Dinar Recaps,
CANADA SETS NEW DEADLINE FOR CRYPTO PLATFORMS TO COMPLY WITH STABLECOIN REGULATIONS
The Canadian Securities Administrators (CSA) have announced an updated regulatory framework for stablecoins, also known as value-referenced crypto assets (VRCAs), with a new compliance deadline set for December 31, 2024.
UPDATED REGULATORY REQUIREMENTS
The updated regulations emphasize transparency and investor protection, requiring stablecoin issuers to maintain appropriate reserves with qualified custodians and to publicly disclose information about their governance, operations, and reserves.
These measures aim to enhance the integrity of the Canadian capital markets and ensure the safety of investors engaging with crypto trading platforms.
Recently, Canada has been in the news when its central bank announced a strategic shift away from developing a retail CBDC (Central Bank Digital Currency).
@ Newshounds News™
Source: Bitcoin News
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WIKI FINANCE EXPO DUBAI 2024 WILL BE HELD ON NOV 27TH!
FinTech, Forex, Crypto, Web 3.0, Metaverse, ESG and AI Will Be in Focus.
Taking place on Nov 27, 2024, Wiki Finance Expo Dubai 2024 is one of the largest and most influential FinTech and Web3.0 events in Asia in 2024.
@ Newshounds News™
Read more: Blockchain Reporter
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OHIO SENATOR INTRODUCES BILL TO ALLOW TAXES TO BE PAID IN BITCOIN
In what could be massive for Bitcoin and the crypto market, Ohio senator Niraj Antani has introduced a bill that would legalize BTC as a payment option for state taxes and other fees. Indeed, the legislation would be transformative in how it allows for the usage of cryptocurrencies for payments.
The bill was first introduced Monday and would create a new avenue for state financial obligations for Ohioans. Moreover, it could create increased adoption in the state, driving larger exposure to the leading cryptocurrency and other tokens through the key legislative change.
Ohio Bill Would Allow Bitcoin as Legal Payment for State Taxes and Other Fees
2024 is certainly Bitcoin’s year. In January, the asset had become the first crypto-based ETF in the United States. Just three months later, it surged to a $73,000 all-time high. Now, with October nearing, there are expectations that BTC could challenge that price.
While the asset is looking to surge, Ohio Senator Niraj Antani has recently introduced a bill that would allow both state and local taxes to be paid in Bitcoin and other crypto. Indeed, Antani took to X (formerly Twitter) to announce the new legislation that would change the landscape of Ohio finance.
Antani noted he had “introduced a bill [to] legalize the use of cryptocurrency to pay state and local taxes and fees.” Moreover, he said, “Cryptocurrency is not just the future- it’s the present.” The legislation would come five years after Ohio became the first state to accept crypto for tax payments.
However, a year after it was approved, the Ohio Attorney General ruled the State Board of Depostis had to approve the policy. That move stalled the development, with Antani looking to make amends. His move would put the state at the forefront of digital finance in the United States.
@ Newshounds News™
Source: Watcher Guru
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TAIWAN NOW ALLOWS PROFESSIONAL INVESTORS TO ACCESS BITCOIN ETFS
In a massive development for the country, Taiwan’s Financial Supervisory Commission (FSC) has allowed professional investors to gain access to foreign Bitcoin and other crypto ETFs. Indeed, the commission announced the change Monday, allowing select investors to participate with “foreign virtu asset” exchange-traded funds.
The crypto-based ETF market has surged in the United States this year. After receiving the first Bitcoin ETF approval in January, Ethereum quickly followed suit just a month earlier. Now, Taiwan has looked to expand “product choices,” for the country’s investors through its recent decision.
Taiwan FSC to Allow Crypto ETF Access in Notable Shift
2024 has been massive for Bitcoin, and its recently approved ETFs. Just last week, the ETFs of the leading crypto drew more than $1 billion in net inflows.
That has proven to be its highest since July, and a notable shift from the last several months. It has investors clearly expecting a massive surge to come with October fast approaching.
As the market sentiment is beginning to shift, one country may be prepared to take advantage. Indeed, Taiwan has officially decided to allow professional investors access to foreign Bitcoin and crypto ETFs. The huge move will allow select individuals to have access to the crypto currency investment products.
The report notes that there is a specific criteria to meet for those hoping to invest. “Professional investors include professional institutional investors, high-net-worth investment legal persons, high-asset clients, legal persons or funds that are professional investors, and natural persons that are professional investors,” the FSC clarified.
Additionally, there must be a board-approved suitability assessment for securities firms looking to invest in crypto ETFs. This will coincide with mandatory educational efforts for businesses. Specifically, this will seek to teach more about cryptocurrency, and its inherent risks.
Yet, the decision still adds Taiwan to a list of nations looking to further embrace crypto as a growing, globally important, asset class.
@ Newshounds News™
Source: Watcher Guru
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TRUMP'S WORLD LIBERTY FINANCIAL OPENS KYC VERIFICATION
The project urges crypto's accredited investor class to "'Be DeFiant' and begin the KYC process.
Trump-backed World Liberty Financial has opened up Know Your Customer (KYC) verification on its official website for its upcoming public token sale.
What's the Scoop?
KYC Purpose:
According to the homepage, information about the project is only accessible to those completing the KYC process. In the U.S., only accredited investors will be eligible.
Token Details:
It was confirmed that World Liberty Financial will issue a non-transferable governance token, WLFI. Token distribution includes 63% to the public, 17% for rewards, and 20% for team compensation.
Bankless Take:
While we’re inching closer to World Liberty Financial’s launch, we’re inching closer to the election too. With the majority of crypto seeing WLFI as a net negative to Trump’s chance to win and potentially impeding bipartisan progress for crypto if he doesn’t, the KYC launch does little except heighten anxieties. Regardless, with less-than-desirable tokenomics, it will be interesting to see how much funding WLFI accrues for its non-transferable token sale.
@ Newshounds News™
Source: Bankless
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🌍 Zimbabwe (RV) History | Youtube
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Source: Seeds of Wisdom Team RV Currency Facts
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Seeds of Wisdom Team RV Currency Facts Youtube and Rumble
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