Seeds of Wisdom RV and Economic Updates Tuesday Morning 5-13-25
Good Morning Dinar Recaps,
ARIZONA GOVERNOR KILLS TWO CRYPTO BILLS, CRACKS DOWN ON BITCOIN ATMS
Governor Katie Hobbs vetoed two major pro-crypto bills:
Senate Bill 1373, which proposed a Digital Assets Strategic Reserve Fund, and
Senate Bill 1025, the Arizona Strategic Bitcoin Reserve Act that would have allowed up to 10% of state treasury and retirement funds to be invested in Bitcoin.
She also rejected Senate Bill 1024, which would have allowed state agencies to accept crypto payments for taxes and fees.
Hobbs cited “volatility in cryptocurrency markets” as a core reason for vetoing, stating the proposals posed too much financial risk for public funds.
However, she approved House Bill 2387, which imposes strict consumer protections on Bitcoin ATMs:
Requires multilingual scam warnings and acknowledgment from users before transactions.
Caps daily transactions at $2,000 for new users and $10,500 for returning users after 10 days.
Mandates detailed receipts, visible 24/7 customer support info, and a 30-day refund policy for fraud victims.
Additionally, Hobbs signed House Bill 2749, modernizing unclaimed property laws to let Arizona hold unclaimed crypto in its original form rather than converting to fiat.
@ Newshounds News™
Source: CoinTelegraph
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BRICS: US & CHINA AGREE TO TARIFF PAUSE, BUT WHO’S NEXT?
The US and China have agreed to a 90-day tariff pause, signaling a potential thaw in tensions and offering hope for a broader trade deal.
President Trump called it a “total reset” in relations, easing fears of an imminent trade war between the world’s two largest economies.
China’s role in BRICS remains pivotal, and the agreement has sparked speculation about which BRICS nation may secure relief next.
India has already finalized trade terms with the US, while Brazil still faces a 10% tariff, and South Africa’s has been lowered from 30% to 10%.
Russia was never included in the initial US tariff plan, giving the BRICS alliance some strategic leverage.
The European Union (EU) may be next on the negotiation list, though Trump called the EU “nastier than China” in recent comments.
BRICS' united trade front is believed to be effective, with growing optimism that tariff relief deals for other members are coming soon.
The 2025 BRICS summit could expand the alliance, increasing its global influence during ongoing trade negotiations.
@ Newshounds News™
Source: Watcher Guru
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