“Tidbits From TNT” Tuesday 10-8-2024

TNT:

Tishwash:  Ranked 29th out of 100 countries, Iraq raises its gold holdings to more than 152 tons

The World Gold Council announced on Tuesday that Iraq has increased its gold holdings to more than 152 tons.

According to the latest table published by the Council in September 2024, which Shafak News Agency reviewed, "Iraq ranked 29th out of 100 countries listed in the table with the largest gold reserves," indicating that "Iraq ranked third in the Arab world after Saudi Arabia and Lebanon."

He added, "Iraq increased its gold holdings to 152.6 tons, after its gold holdings were 148.3 tons, which represents 11% of its remaining reserves."

The Council also pointed out that "the United States of America is the largest country in the world with the largest gold holdings, at 8,133.5 thousand tons, followed by Germany with 3,351.5 thousand tons, then Italy with 2,814 thousand tons, while Bosnia and Herzegovina came in last with 1.5 tons."

The World Gold Council is headquartered in the United Kingdom, has extensive experience and deep knowledge of the factors that cause market change, and its members consist of the largest and most advanced gold mining companies in the world.  link

Tishwash:  Ministry of Oil announces the start of exporting jet fuel

The Undersecretary of the Ministry of Oil for Refining Affairs, Hamid Younis, announced the start of aviation fuel export operations from Iraqi ports.

The Undersecretary said in a statement, "The ministry has started aviation fuel export operations at a rate of (800-1000) tons per day, from export outlets, noting that the Iraqi production of aviation fuel comes within international specifications and standards.

He pointed out that the export process is a step in the right direction, to enhance Iraq's role globally among the countries producing and exporting oil and its derivatives, in addition to that it reflects the prospects for development in the Iraqi oil industry.

He added that the export operations of oil products contribute to increasing the financial revenues achieved from the activities of the oil sector, thus supporting the national economy.  link

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Tishwash: Revealing the features of the 2025 budget tables

A government advisor revealed the features of the 2025 financial budget schedules.

 The financial advisor to the Prime Minister, Mazhar Muhammad Salih, said in a press statement that "Article 77/Second of the Federal General Budget Law No. 13 of 2023, which regulates the preparation of the three-year budget, stipulates that the government shall send the budget tables for the years 2024 and 2025 to the House of Representatives for approval before the end of the previous fiscal year."

He added that "the Ministry of Finance has announced that it is in the process of preparing the general budget tables for the year 2025, in accordance with the constitutional mechanisms adopted by the aforementioned Three-Year Budget Law."

He pointed out that "based on the indicators of budget implementation over the first two years provided for by the aforementioned Law No. 13, the financial authority has the necessary administrative and financial capabilities to submit the 2025 budget tables to take their legislative path through discussion and approval in the Council of Ministers and refer them to the House of Representatives before the end of this year."

Saleh noted that "the federal general budget tables for the year 2025 will be based on the constants of Federal Budget Law No. 13 of 2024, taking into account international and regional economic conditions and their changes, ensuring that the provisions of the budget tables for the year 2025 are adapted within the available legal texts, in addition to relying on the performance of the indicators of the general budget tables for the year 2024."

He stressed that "major reconstruction projects will continue to progress in accordance with the vision of the government program to ensure the continuity of growth rates in the gross domestic product in general and the gross domestic product (non-oil) in particular."  link

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Tishash:  Federal Finance sends Kurdistan Region salaries for September, parliamentarian confirms arrival

An informed source reported on Tuesday that the Iraqi Federal Ministry of Finance will transfer the salaries due for the month of September to the employees of the Kurdistan Region from Baghdad within the next three days, indicating that they will be disbursed immediately upon arrival of the amount.

According to information obtained by Shafaq News Agency, the Financial Supervision Bureau and the Ministry of Finance in Iraq have completed the process of auditing the payrolls of Kurdistan Region employees for the month of September, and the remaining amount is expected to be transferred during this week.

The source stated that after the government in the Kurdistan Region receives the financial amounts from Baghdad, it will, in turn, in cooperation with the region’s internal revenues, begin distributing employees’ salaries.

Meanwhile, the member of the Iraqi parliament for Sulaymaniyah province, Karwan Mirwais, stated on his official Facebook page that the Iraqi Ministry of Finance had transferred an amount estimated at one trillion dinars to the Ministry of Finance of the Kurdistan Region.

According to Mirwais, this amount is allocated to pay the salaries of civil, military and security employees for the month of September.

The salary file in the Kurdistan Region is witnessing continuous tensions due to the delay in sending financial dues from Baghdad, which leads to the postponement of the distribution of salaries to employees.

Previous agreements have been reached between the Kurdistan Regional Government and the federal government to ensure the continuation of salaries, but delays in sending dues remain a constant source of concern for employees in the region.  link

Mot:  . Rivalry at its Bestest!!! 

Mot: ... YaKnows -She Just Might Have a Good Idea!!! 

Seeds of Wisdom RV and Economic Updates Tuesday Morning 10-8-24

Good Morning Dinar Recaps,

IOTA NEWS: COULD IOTA BE THE NEXT BIG PLAYER IN THE STABLECOIN ARENA?

▪️IOTA’s decentralized technology could serve as the foundation for a compliant stablecoin.

▪️The Trade and Logistics Information Pipeline enables secure and efficient exchange of electronic trade documents.

With Europe’s Markets in Crypto-Assets (MiCA) regulations reshaping the crypto landscape, IOTA’s decentralized and scalable technology could position itself as the foundation for a new, compliant stablecoin. IOTA’s feeless and efficient framework makes it an intriguing candidate in the search for the next big player in digital assets.

The launch of MiCA marks a new dawn of regulation in the EU crypto market, which will lead to a more accountable industry. This regulation addresses issues relating to digital assets in a bid to protect the consumer and ensure the stability of the market.

With platforms like Coinbase recently delisting the non-compliant stablecoins, the regulatory change paves the way for new entrants. Could IOTA fill this gap?

IOTA’s Tangle technology enables feeless, instant, and scalable transactions, which will be suitable for a stablecoin designed to function under the MiCA regulation. Such a network is capable of processing many transactions without congesting the network or incurring any costs, which could position it as a stablecoin giant.

How IOTA’s Technology Could Drive Stablecoin Efficiency
At the core of IOTA’s ecosystem is its Trade and Logistics Information Pipeline (TLIP). This decentralized platform is already responsible for securing global trade through the exchange of immutable data. The same principles could be applied to a stablecoin to guarantee the stability, openness, and effectiveness of digital transactions.

TLIP has played a big role in expanding the footprint of IOTA in the African region, especially in the trade industry. The system enables participants to exchange electronic trade documents including export declarations and airway bills safely and effectively.

The TLIP model demonstrates that IOTA can cut costs by half and make cross-border transactions up to 80% cheaper. This can mean huge savings in the stablecoin ecosystem and could be useful for industries looking for effective yet cheap financial tools.

Could IOTA’s Stablecoin Revolutionize Global Trade?
A MiCA-compliant stablecoin issued on the IOTA network could transform the world’s payments system through secure and efficient transactions.

Similarly, TLIP enhances the visibility and effectiveness of logistics, and stablecoin could enhance cross-border payments through quicker and more transparent systems. IOTA’s decentralized approach, coupled with MiCA’s legal certainty, sets the stage for the creation of a safe and sustainable stablecoin.

Collaborations with organizations like Tide Protocol have been instrumental in developing the IOTA EVM ecosystem and providing key technological advancements.  

Furthermore, the collaborations between IOTA and Digimarc, as well as IOTA and Agro2Circular, implement environmental stewardship by mitigating agricultural plastic waste using the DPP.

In addition, IOTA has partnered with the European Commission to develop a new IPR management system that applies DLT, NFTs, and smart contracts. It is worth noting IOTA’s Total Value Locked (TVL) recently surpassed $5 million.

@ Newshounds News™

Source:  Crypto News Flash

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U.S. GOVERNMENT SET TO AUCTION $4.4 BILLION IN BITCOIN AFTER MAJOR LEGAL WIN!

The U.S. Supreme Court has put an end to the legal battle over 69,370 Bitcoin that were seized from the Silk Road dark web marketplace. These BTC are worth around $4.4 billion.

By refusing to accept the case, the Court opened the way for the U.S. government to sell these bitcoin. Let’s explore what happened and what to expect next.

Battle Born’s Claim Falls Short
The legal tussle centered around a claim from Battle Born Investments, a company that argued it had legitimate rights to the seized Bitcoin. They built their case on the idea that they acquired the assets through a bankruptcy estate tied to a man named Raymond Ngan.

Battle Born believed that Ngan was the infamous “Individual X,” a hacker who had stolen Bitcoin from Silk Road before surrendering the stolen funds to the authorities. However, the federal and appellate courts dismissed these claims.

The Dark Web and the Bitcoin Connection
To help you understand the significance of this matter, let’s share a summary of this 2013 Silk Road case. Ross Ulbricht founded the SIlk Road platform in 2011 which was infamous as a hub for illegal activities.

The Tor network hosted the website, where people could buy anything illegal, from drugs to weapons, by paying in Bitcoin.  At its peak, the Silk Road had millions of dollars in transactions. In 2013, the FBI shut down the marketplace and arrested Ulbricht.

The seized Bitcoin, tied to transactions on the platform, remained with the government, leading to this moment. Adding another twist to the tale, the IRS later traced several btc transactions to “Individual X,” the hacker who stole Bitcoin from Silk Road before authorities shut it down.

 The U.S. government eventually seized those funds in what has become the largest cryptocurrency seizure to date.

What’s Next for the Seized Bitcoin?
Now that the Supreme Court has refused to hear the case, the U.S. government can sell the seized BTC. The U.S. Marshals Service would be overseeing the sale. 

Some of the funds have already been moved to Coinbase Prime. Looks like they are ready to auction the bitcoin. This sale can bring broader implications not just for the crypto market but for the U.S. political environment.

During the Bitcoin Conference 2024 at Nashville, Presidential candidate Donald Trump has shared his plans regarding these seized Bitcoin. He shared his idea to use the seized btc to create a “strategic bitcoin reserve” for the U.S. He suggested the current administration to hold bitcoin instead of selling it like the German government.

@ Newshounds News™

Source:  Coinpedia

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RIPPLE XRP HOLDERS THEY WANT TO END THE MIDDLE CLASS - SHOCKING UPDATE  |  Youtube

@ Newshounds News™  

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🌍 WHICH COUNTRIES ARE WINNING THE CRYPTO RACE? | Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

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Follow the Timeline 

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Subscribe to Newsletter

Thank you Dinar Recaps

News, Rumors and Opinions Tuesday AM 10-8-2024

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts from the Restored Republic via a GCR: Update as of Tues. 8 Oct. 2024

Compiled Tues. 8 Oct. 2024 12:01 am EST by Judy Byington

Global Currency Reset:

Mon. 7 Oct. 2024 Wolverine: The digital banking system in Iraq has been spreading salaries for three days. Digital banking system is working now in Iraq. The rate can change any moment from now.

Global Financial Crisis:

BRICS US Banks Face $500B in Losses as De-Dollarization Grows.While the BRICS alliance is strengthening its banking system, the US seems to be on a downhill. In the last three years alone, 15 US banks collapsed renewing fears of financial instability across the country. The BRICS bloc has pushed de-dollarization efforts especially since it expanded its numbers. Now, the pressure is mounting on the US dollar, as the country’s banks face over $500 billion in unrealized losses, according to a new report.

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Possible Timing:  (Rumors)

Mon. 7 Oct. 2024: BQQQQQQQM! It’s Over: Blackout Confirmed, Phase 1 Now Active—Cyber Attack Released! … (JFK Jr.) on Telegram

The Blackout is Real: Phase 1 Activated. We’re no longer talking about hypothetical scenarios or temporary inconveniences. The first phase of a coordinated plan has commenced, targeting our digital and financial infrastructure. This isn’t just about losing internet access or experiencing a power outage; it’s a calculated strike designed to dismantle economies and instigate widespread chaos. Imagine waking up to find your bank accounts frozen, your digital wealth erased, and your communication lines severed. This isn’t a dystopian novel; it’s our harsh new reality.

The financial systems we rely on are hanging by a thread. The blackout is not a passing storm but the opening salvo in a larger strategy aimed at causing irreparable damage. This cyber onslaught, driven by forces that thrive on disruption, is not just a possibility-it’s an inevitability. It will leave us in the dark, both literally and metaphorically, as the very foundations of our society are shaken to the core.

The Gathering Storm has been brewing for some time now. Warnings have echoed from every corner, but the masses have been sleepwalking into the abyss. The clock is ticking, and the countdown to catastrophe has begun. What’s coming is a global reset-an unprecedented financial and societal upheaval. This isn’t just a drill; it’s an all-out assault on the systems we once took for granted.

A Modern-Day Black Tuesday looms on the horizon. The specter of a stock market crash, much like the infamous Black Tuesday of 1929, casts a long shadow over our current financial landscape. History’s chilling images of people jumping from windows in desperation during the Great Depression are no longer just historical anecdotes; they’re a potential reality. The question isn’t if the market will collapse, but when-and when it does, it will be swift and devastating.

The alarms have been ringing for years: “Get your money out of the banks.” Yet complacency has led us to the edge of this precipice. Now, with the blackout in full swing, the warnings have turned into grim prophecies. The last 48 hours have been a whirlwind of panic, with whispers of impending doom-“s*****e week,” some are calling it-echoing through the halls of power. The parallels to October 29, 1929, are stark and terrifying.

The financial collapse won’t be a gradual decline; it will be a sudden, all-consuming inferno. Banks will freeze assets, markets will crash, and the global economy will descend into chaos. For those unprepared, it will be too late to act once the doors are locked and the ATMs are emptied. The time to prepare is now.

The Big Spitball has been thrown, and there’s no turning back. This isn’t just a warning s**t; it’s the beginning of the end. Those who have ignored the signs and clung to the illusion of digital wealth will find themselves trapped in a system designed to fail them. The blackout is more than a loss of power-it’s a strategic move to reset the global order.

The Global Reset is coming. What was once dismissed as conspiracy theory is now unfolding in real-time. This reset isn’t about fixing the broken system; it’s about tearing it down and building a new one from scratch. A black swan event-a catastrophic, game-changing occurrence-will trigger this reset, likely in the form of a massive cyber attack. Digital wealth will be erased, and only tangible assets like cash, gold, and silver will hold value in the new financial order.

The Phoenix will rise from the ashes of this collapse, but only a select few will survive. This isn’t about fairness or justice; it’s about survival of the fittest. Those who have prepared, who understood the need for liquidity and physical wealth, will emerge from the chaos. The future belongs to those who foresaw the collapse and acted accordingly.

Read full post here:  https://dinarchronicles.com/2024/10/08/restored-republic-via-a-gcr-update-as-of-october-8-2024/

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Frank26  [Iraq boots-on-the-ground report]  FIREFLY:
They are telling us deleting zeros and enhancing value.  We never heard this before.  FRANK26:  This is extremely impressive in the way the monetary reform is coming to you faster.   We predicted this.  It's good to see it happening.

Breitling  What was it I was looking at very specifically in Iraq that gave me confidence that they were going to add value to their currency, outside of them just saying that's what they're going to do, Out side of it being an artificially inflation because the inflation was created by the amount of dinar they would print and mint And outside of their US dollar accounts, remember their oil is sold in US dollars and those funds are held in a federal bank in New York City?  So what was it that gave me confidence...?  ...My whole thing is trade and trade routes...You follow the trade routes, you follow where the wealth is at or potential wealth coming down the road.  That's what I was watching.  You had trade coming down from India and going through Iraq...Iraq up to Turkey and Turkey to the European markets.  That's what I had confidence in.  I knew that.  They had to put it together...

Economist Reveals Trigger For 'World Depression' | Steve Hanke

David Lin:  10-8-2024

Steve Hanke, Professor of Applied Economics at Johns Hopkins University, discusses the labor market, oil spike, geopolitical tensions in the Middle East, China's stimulus package, and U.S. Presidential election odds.

0:00 – Intro

 0:30 - Latest jobs report

6:23 - Wages and inflation

7:47 - Trump and labor market

10:50 - Immigration and economic impact

13:35 - Government jobs added

16:46 - Government spending as % of GDP

18:25 - China stimulus

 23:00 - Oil and geopolitical tensions

27:15 - This would cause 'world depression'

https://www.youtube.com/watch?v=P_jARjj96-I

Economist’s “News and Views” 10-7-2024

Take A Ride On The Road To Roota with Bix Weir (Little By Little)

Andy Schectman:  10-5-2024

Welcome back to Little by Little with Andy Schectman! Today, we’ve got a very special guest—someone who’s been on the frontlines of exposing the hidden truths behind the financial system, the gold and silver markets, and the deeper narratives that most mainstream outlets won’t touch.

He’s the creator of Road to Roota, a man who’s known for his fearless investigations and bold predictions about the future of our economy—Bix Weir!

Bix has spent decades uncovering what’s really happening behind the scenes, from the Federal Reserve to the manipulation of precious metals, and he’s here to share his insights on where we’re headed next.

We’re diving into everything from his groundbreaking Road to Roota theory, the macro forces shaping precious metals, and his unique perspective on how the world is evolving in these unprecedented times. Get ready for an eye-opening conversation!

https://www.youtube.com/watch?v=srilYTMtbzU

YOUR STANDARD OF LIVING IS RAPIDLY DISAPPEARING... AND ITS ABOUT TO GET A LOT WORSE.

Greg Mannarino:  10-7-2024

https://www.youtube.com/watch?v=8wSV46Rl_R4

Bank Losses ‘Dwarf’ 2008, Housing Shortage Is ‘Extreme’ | Briton Hill

David Lin:  10-7-2024

Briton Hill, Managing Partner of Providence Capital Group, says that the housing market could remain "stuck" and in short supply for a number of years. Hill gives his outlook on home prices, mortgage rates, and stock markets.

0:00 – Intro

 0:40 - Housing market is "stuck"

2:30 - Housing shortage

3:14 - Bank losses

7:34 - Mortgage rates to stay high

10:15 - Buyers’ or sellers’ market?

 12:52 - Capital borrowers’ profiles

15:17 - Lumber price

16:30 - Construction starts

18:22 - Housing affordability solutions

 25:14 - Homebuilders’ priorities

26:15 - Stock market outlook

https://www.youtube.com/watch?v=jAqP1Gt9JEE

Seeds of Wisdom RV and Economic Updates Monday Afternoon 10-7-24

Good afternoon Dinar Recaps,

THE CRYPTO EXECUTIVE WHO COULD SOON BE RUNNING THE SEC

Wall Street’s top cop is headed for a clash with the trendy online brokerage firm Robinhood.

The regulator could be picking a fight with its next boss, too.

Robinhood Chief Legal Officer Dan Gallagher is emerging as a leading contender to head the Securities and Exchange Commission should Donald Trump win back the presidency, according to a dozen former top regulators, lobbyists and securities lawyers.

“He’d be a natural choice,” one former senior SEC official told MM.

But Gallagher — a onetime SEC commissioner who is known for his affability and political chops — may find himself sparring with the agency first.

The SEC is weighing a lawsuit over Robinhood’s swelling cryptocurrency business in a case that would mark the latest salvo in Chair Gary Gensler‘s crackdown on the $2 trillion market. The SEC is looking into whether Robinhood is operating an unregistered broker-dealer and clearing agency in the crypto markets. Charges are not guaranteed, but if the agency does sue, the resulting legal battle could thrust a new and awkward spotlight onto Gallagher — just as the race for the chairmanship heats up.

For his part, Gallagher has a message for the SEC: Don’t do it.

“It’s a dog of a case,” he told MM. Robinhood, Gallagher said, offers trading in a fraction of crypto tokens compared to others that have hundreds on their platforms. And the company doesn’t have any crypto lending or staking products, he said.

“We’ve been forgoing revenue for the company by not going hog wild listing coins, and I think that puts us in a very, very unique position,” Gallagher said. “Shooting at the good guys is a really bad policy.”

An SEC spokesperson declined to comment.

Eight years ago, a rotating cast of characters from the financial, corporate and legal worlds swung through Trump Tower as they sought to join the then-incoming president’s administration. Now, as evidenced by Gallagher’s brewing candidacy, the revolving door between government and industry appears primed to start spinning once again if Trump wins.

“This is the name of the game: Get the fox in the henhouse,” said Richard Painter, who served as chief ethics lawyer for President George W. Bush.

Other names floating around K Street as potential SEC chairs under Trump include former Commodity Futures Trading Commission Chair Chris Giancarlo, who is known online as “CryptoDad"; former SEC General Counsel Robert Stebbins, now a partner at the law firm Willkie Farr & Gallagher; and current SEC Commissioner Hester Peirce, who occupies a Republican seat on the agency’s five-person commission.

Yet Gallagher’s ascendancy to the chair has long been a matter of when, not if, for some Republicans.

“Dan would be great,” Rep. Bill Huizenga (R-Mich.) told our Jasper Goodman following a House Financial Services Hearing where Gallagher testified last month. “I’ve had a great relationship working with him, even when we disagreed on some stuff.”

“Ultimately, you want someone who’s thoughtful, experienced, and not just ideologically politically driven,” the Michigan Republican said. “That’s been, I think, the problem with Gensler.”

Gallagher as a commissioner blasted the package of rules enacted in the wake of the 2008 financial crisis. He called for a sweeping review of trading in the U.S. stock market and was early to raise concern about the SEC’s internal courts, which have since been declared unconstitutional in certain cases by the Supreme Court. He was also a regular on Capitol Hill, briefing lawmakers on the wonky area of securities law.

If Trump did pick Gallagher, the Robinhood executive could face a contentious confirmation process. Democrats have long been wary of industry officials taking over federal regulators, and Robinhood has attracted a fair amount of congressional scrutiny over the years. (Remember GameStop — the bizarre market phenomenon of 2021 when Robinhood had to cut investors off from buying more shares in the beleaguered video game retailer’s stock, drawing the ire of lawmakers across Capitol Hill?)

But Gallagher argues that was then. The company has since overhauled its compliance and risk-management programs, he said. And as for any revolving-door concerns, he says having experience both in and out of government is a good thing.

Whether Gallagher would want to leave Robinhood is unclear. He told MM that he loves his job and that it’s “an honor to have my name included in any discussion of who may be the next SEC chairman.”

Make no mistake, though, Gallagher has clear issues with the SEC’s direction. Just ask him about crypto. He told MM that if he had been chair in the last few years, there would be tailored rules on the books already, as the industry has long been seeking, offering “a path forward for at least a baseline registration system” for crypto exchanges and brokers. And even then, Gallagher believes there would still need to be legislation.

“I would have done things differently,” he said. “I’ve known Gary for a long time and have a lot of respect for Gary, but, on this one, I disagree with him.”

@ Newshounds News™

Source:  Politico

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NASDAQ PUBLISHED APPLICATION TO BEGIN THE PROCEDURE FOR LISTING AND TRADING SHARES OF HASHDEX NASDAQ CRYPTO INDEX US ETF.

@ Newshounds News™

Source:   Crypto World 

NASDAQ-2024-028_Order_Instituting_Proceedings

SEN. ELIZABETH WARREN WILL DEBATE LAWYER JOHN DEATON TWICE IN OCTOBER

Many crypto proponents suggested the race could be a referendum on digital asset policy in the US Senate, with polls showing Warren leading by at least 20 points.

Massachusetts news outlets are reporting that Democratic Senator Elizabeth Warren and Republican candidate John Deaton will debate each other twice before the 2024 election, on Oct. 15 and Oct. 17.

According to an Oct. 7 notice from New England Public Media, the outlet and GBH News will host a debate in Springfield between the two senatorial candidates on Oct. 17, moderated by political reporters Adam Reilly and Saraya Wintersmith. Sen. Warren and Deaton will also appear in Boston to debate on Oct. 15 on WSBK-TV.

It’s unclear if digital assets will be a topic between the two candidates at either debate. Cointelegraph contacted GBH News, who said it would not share the topics in advance.

Future of crypto policy in US Senate?
During her time in office, Sen. Warren has been outspoken about her criticism of cryptocurrency, associating digital assets with funding illicit activities. Deaton, a lawyer, has backed Ripple and other crypto firms facing litigation from the United States Securities and Exchange Commission (SEC).

Several September polls showed Sen. Warren with more than a 20-point lead over Deaton in an election many expect to be a referendum on crypto policy. The Republican candidate claimed on social media that the SEC is “pursuing an anti-crypto agenda” through its enforcement actions and criticized chair Gary Gensler.

Many Democratic lawmakers and candidates have called on members of the party to change their “hostility” toward the crypto industry as presidential candidate Kamala Harris runs against Republican Donald Trump in November. After announcing her candidacy in July, Vice President Harris made her first public statement on digital assets in September, pledging support for the industry.

Commonwealth Unity Fund, a political action committee backed by many crypto proponents, and Gemini co-founders Cameron and Tyler Winklevoss have supported Deaton’s campaign through contributions or media buys.

According to Federal Election Commission records, as of Aug. 14, Deaton had raised roughly $1.8 million in his bid for the US Senate in 2024, with roughly $830,000 in cash on hand. Senator Warren had raised roughly $19 million since January 2019 and had roughly $5.3 million in cash on hand as of Aug. 14.  (WARREN REPRESENTS THE BIG BANKS)

@ Newshounds News™

Source:   CoinTelegraph

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‘THE SEC IS LIVING IN PAST’: TIM DRAPER SLAMS GARY GENSLER, DISCUSSES RIPPLE CASE

With the recent Ripple appeal, the SEC and its chair Gary Gensler are back in the spotlight as the XRP community voices strong opposition to the agency. This new twist has extended the already delayed case timeline, with some speculating it could now stretch until 2026. American venture capital investor Tim Draper appeared on the Thinking Crypto podcast and discussed SEC’s recent actions and their impact.

Ongoing Challenges for the SEC
Draper noted that Gary Gensler, the SEC chair, has faced losses in court, not just with Ripple but also with the Grayscale lawsuit and others. This raises questions about the SEC’s strategy and effectiveness in regulating the crypto industry.

Predictions for the Future
One of Draper’s key predictions is that eventually, the incumbents currently fighting against cryptocurrency will begin to adopt it. He expressed optimism about the political landscape, mentioning that at least one, if not both, presidential candidates are starting to embrace Bitcoin and other cryptocurrencies as tools for innovation.

Innovation Beyond Borders
Draper brought to attention a critical issue: many innovative American companies are geofencing their products, meaning they are limiting their operations to outside the U.S. due to the restrictive regulatory environment. He said that while innovation thrives globally, American companies are at a disadvantage because of the SEC’s outdated regulations.

The Need for Change
Draper argued that the SEC is operating under an “80-year-old set of laws,” which are no longer relevant in today’s fast-evolving tech landscape. He stressed that if the U.S. wants to maintain its competitive edge, particularly in Silicon Valley, it must embrace the innovation happening in the cryptocurrency sector.

Political Encouragement
Draper said  that both presidential candidates appear to recognize the importance of cryptocurrencies. He noted that Donald Trump has positioned himself as the “crypto president,” even stating he would fire Gary Gensler. Similarly, Kamala Harris seems to share these sentiments, which Draper finds encouraging.

@ Newshounds News™

Source:  Coinpedia

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Crypto's Role in the GCR RV  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

More News, Rumors and Opinions Monday Afternoon 10-7-2024

KTFA:

Frank26:  "DIGITALIZATION IS THE MONETARY REFORM."..........F26

 Clare: Al-Sudani's Advisor: Digital Transformation Will Boost Iraq's Efficiency and Attract Foreign Investment

 10/7/2024

Al-Khatib in a speech during the Real Estate Investment Forum, followed by 964 Network :

On behalf of Prime Minister Mohammed Shia Al-Sudani, I am pleased to welcome you all to the Real Estate Investment Forum in Digital Transformation.

Holding this forum represents an important step towards strengthening the real estate investment sector in Iraq and developing this field to keep pace with the requirements of the digital age.

The government has paid great attention to the digital transformation process in various sectors, most notably the real estate sector, given its importance in achieving sustainable economic development.

Adopting modern technologies in this field will lead to increased efficiency and transparency and enhance Iraq’s ability to attract local and foreign investments.

The government is aware of the challenges facing the real estate investment sector.

Joint cooperation between the government, the private sector and experts will lead to the development of effective strategies that support overcoming these challenges and achieving the desired goals.

The forum aims to exchange ideas and visions and work together to develop innovative solutions that advance the digital transformation process in the real estate investment sector.   LINK

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Frank26:  "SUDANI IS NOT TAKING IT ANYMORE!!!"......F26

Clare:  Iraqi judiciary issues arrest warrant against Integrity Commission Chairman Haider Hanoun

10/7/2024

On Monday, the Iraqi judiciary issued an arrest warrant against the acting head of the Integrity Commission, Haider Hanoun.

According to a judicial source, who spoke to Shafaq News Agency, "The Third Karkh Investigation Court issued an arrest warrant for Haider Hanoun, the acting head of the Integrity Commission, for not appearing before the court in the cases in which he was accused, and to investigate the audio recordings."

The source added, "The court sent notices to Hanoun to attend more than once, but he failed to do so."

The Supreme Judicial Council in Iraq announced, in mid-September, that it had begun taking legal action against the head of the Federal Integrity Commission, Judge Haider Hanoun, due to the statements he made during a press conference in Erbil last week, describing those statements as “incorrect allegations.”

The head of the Federal Integrity Commission, Haider Hanoun, had directed severe criticism at Judge Diaa Jaafar, during an angry scene during a press conference he held in Erbil, dedicated to revealing the secrets of the “theft of the century” that shook the political circles in the country .

The head of the Integrity Commission expressed his anger over what he described as the weakening of the commission and the disappearance of files from the case of the accused Nour Zuhair from Judge Diaa Jaafar, stressing that these developments constitute a major challenge to efforts to combat corruption and recover looted state funds.   LINK

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Frank26  I suggested if you had a receipt and you've had your currency for more than a year, you'll be in the 15% to 20% tax bracket.  Oh, but if you don't have a receipt or if you try to exchange your currency before...one year of you having it, you'll probably be in the 40% range...IMO  [Dinar Guru Note:  Consult with your financial and tax advisors at the appropriate time to determine the right taxes of exchange for your unique circumstances]

Militia Man  A new [financial] system that is fast and effect - digitally.  Hopefully they're talking about they're going to have to have an exchange rate to do that. A Real Effective Exchange Rate gets them across borders.  From here on out a different playing field, a digital playing field.  I think that's where we are.  I think it's really powerful information.

Bank of America Sends Warning: ALL Account Holders Are at Risk!

Atlantis Report:  10-6-2024

In a world where financial stability is a top priority for individuals and businesses alike, any warning from a major financial institution deserves our attention.

Recently, Bank of America, one of the largest banks in the United States, raised a red flag for all its account holders. The warning highlights several key issues that could jeopardize the financial well-being of millions of Americans. Bank of America has issued a critical warning to all its account holders.

The bank highlights that everyone is at risk due to various financial uncertainties. This alert, based on their latest market analysis, is crucial for investors and general account holders.

https://www.youtube.com/watch?v=UHaqEpSvXmU

"WORSE Than 2008-09..." - David Hunter

LifeWorthLiving:  10-7-2024

David Hunter forecasts that the broad market is set for an 80% crash in the next year, in a bust he believes could be one of the biggest financial downturns in history.

The good news for commodities investors is that he sees an unprecedented supercycle for hard assets on the other side, where gold, silver, energy, uranium, copper, and other vital commodities will explode in value beyond what anyone can anticipate.

https://www.youtube.com/watch?v=1UaAiUKt_Cc

“Tidbits From TNT” Monday 10-7-2024

TNT:

Tishwash:  Sudanese advisor: Most state employees do not know how to use computers

The Prime Minister's Advisor for Digital Transformation Affairs, Hassan Al-Khatib, confirmed today, Monday, that most Iraqi employees do not know how to use computers, pointing to the role of the private sector in developing this field.

Al-Khatib said, during the Real Estate Investment Forum in Digital Transformation, that “Iraq suffers from a weakness in human resources for digital transformation,” adding, “We are in the process of creating a digital academy to appoint and train millions of employees.”

He pointed out that "the academy is being built by the private sector, not the state, and in cooperation with Microsoft and Apple."

He stressed that "the Iraqi state has 5.25 million employees, most of whom do not know how to use computers."link

Tishwash:  Minister of Communications: We are proceeding with the procedures for implementing the national license project for mobile phones using fifth-generation technology

Minister of Communications Hiyam Al-Yasiri announced today, Saturday, that the ministry is proceeding with completing the procedures for implementing the national license project for mobile phones using fifth-generation technology.

The ministry said in a statement received by the Iraqi News Agency (INA): "In continuation of the intensive efforts to follow up on the procedures for implementing the national mobile phone license project, Minister of Communications Hiyam Al-Yasiri held a meeting with the Supreme Committee for the project in the ministry," indicating that "the meeting comes within a series of ongoing and intensive meetings and procedures to move forward with the procedures for implementing the national mobile phone license project using fifth-generation technology."

The statement added that "these efforts come in implementation of the Council of Ministers' decision, which included the Communications and Media Commission granting the national mobile phone license to the Ministry of Communications to implement it using fifth-generation technology."

It is worth noting that the Ministry of Communications is working on multiple axes to implement the project, including attracting solid specialized international companies to benefit from their expertise in operating the project and communicating with a number of government agencies to contribute to financing the project in a way that ensures that the largest number of segments of society in Iraq benefit from the project's revenues, in addition to communicating with the Communications and Media Commission to complete the procedures for granting the license.  link

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Tishwash:  Central Bank of Iraq: All employees must open bank accounts before the end of March 2025

Today, Sunday, October 6, 2024, a number of employees of the Kurdistan Region received their salaries for the month of August through the "Hesabi" banking project.

In this context, an informed source in the Central Bank of Iraq told Kurdistan 24 that the agreement concluded between the Kurdistan Regional Government and the federal government obliges all employees to open bank accounts.

The source confirmed that employees who do not open a bank account and do not register in the "Hesabi" project until March 2025, will not be able to receive their salaries.

The source explained that there is no difference between the Iraqi localization project and the bank account project, as both come in response to the request of the US Federal Reserve.

He stressed the need for all employees to have bank accounts, with the aim of reorganizing the financial and banking sector in Iraq and the Kurdistan Region.

This comes at a time when 132,000 employees in the Kurdistan Region are preparing to receive their salaries for the month of August through the "Hesabi" project within three days. Today, 40,000 employees received their salaries, with another 46,000 receiving their salaries on Monday and another 46,000 on Tuesday.  link

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Tishwash:  keep in mind the dollar has been very volatile this past week it's at or just about at 1600 dinars per dollar   but this is definitely interesting

Most private banks closed, fears of liquidity crisis amid citizens’ anger

Today, many banks in Iraq witnessed a state of chaos and tension after their sudden closure, which raised widespread concern among citizens, especially with the emergence of reports about some other banks refusing to return customers’ deposits under the pretext of a lack of cash liquidity. 

This development prompted many citizens to quarrel with the management of the banks that remained open, amid growing fears that the officials of these banks would flee after emptying them of money.

The banks that have closed their doors include:

World Bank

Ashur Bank Babylon

Bank

Al Ansari

Bank Middle East

Bank Al-Qabeed Bank

Noor Iraq

Bank Trans Iraq

Bank Al-Huda

Bank Mosul Bank

As for the banks that remained open, but refused to return customers’ deposits under the pretext of lack of liquidity, they include:

National Bank,

Baghdad

Bank, Development

Bank, Al-Nasik Bank

, Bank of the South,

United Bank,

Union Bank,

Al-Tayf Bank

The sudden closure comes amid reports of financial turmoil hitting Iraq's banking sector, with many customers fearing they will lose their money amid growing rumours that some bank officials are planning to flee the country after withdrawing assets from branches.  link

Mot: . and - poof gone 

Mot:  Drum roll Please!! --- and yet Another Wonderful bit of Trivia frum ole ""Mot""

"When we pick up the phone, we say 'Hello' But what is 'Hello'?

 It is not a greeting but rather the name of a person.

 It is 'Margaret Hello,' the fiancée of the telephone inventor 'Graham Bell.'

 It was the first word he said in the initial test of his invention, and it has been used since then as the opening of any phone call worldwide."…

Seeds of Wisdom RV and Economic Updates Monday Evening 10-7-24

Good Evening Dinar Recaps,

ECB STUDY: US MONETARY POLICY HAS BIGGEST IMPACT ON STABLECOIN MARKET CAP
In an important speech today, European Central Bank (ECB) director Piero Cipollone proposed the creation of a European ledger, the EU’s version of the Unified Ledger, to support tokenization in the capital markets. He noted the challenges in creating a conventional Capital Markets Union, including the need for greater legal harmonization.

The Director highlighted some risks in moving towards digital assets and distributed ledger technology (DLT). But rather than viewing tokenization as a threat, he said the EU should embrace the clean sheet opportunity to create a Digital Capital Markets Union. He was speaking at a Bundesbank Symposium.

A European Ledger
“A European ledger could bring together token versions of central bank money, commercial bank money and other digital assets on a shared, programmable platform,” said Mr Cipollone. “In essence, this would see T2S evolving into a DLT-based, single financial market infrastructure for Europe.

While central banks would provide the platform, or the ‘rails’ so to speak, market participants would supply the content, or the ‘trains’.” T2S refers to the EU high value payment system used for the settlement of securities transactions in central bank money.

Since May, the European Central Bank has been coordinating the Eurosystem’s DLT trials for wholesale settlement using central bank money. With 60 private sector organizations taking part, it can see the level of interest and engagement. 

While the EU’s DLT Pilot Regime, which relaxes some of the current EU laws, has not been embraced by incumbents, the first startups are likely to be approved soon.

A key driver behind the likely launch of the retail digital euro is the loss of sovereignty over payment systems to the likes of Visa and Mastercard. The same motivation applies to the capital markets.

“If we drag our feet while other jurisdictions move faster and produce better solutions, we could see financial activities migrating elsewhere and private entities from outside the EU assuming a dominant position in European capital markets,” said Mr Cipollone.

Talking about the potential for tokenization and DLT, he said, “These technologies do not just have the potential to enhance efficiency. They could also fundamentally reshape the very structure of financial intermediation – a system that has remained largely unchanged for centuries.”

The risks of a failure to act
The Director outlined three potential risks of the move toward the tokenization of financial markets. He noted that to date, many institutional initiatives have focused on issuance, especially digital bonds. The proliferation of issuance platforms has already highlighted increasing fragmentation, more so than the current fragmentation between separate central securities depositories (CSDs). A coordinated approach could prevent this fragmentation.

Secondly, institutions want to use cash on chain. If there’s no central bank cash available, then they will use tokenized deposits of stablecoins.

The third risk is more about the unknown. Tokenized securities carry the risks inherent in securities, but there will be new risks. Some risks depend on the settlement asset. He mentioned liquidity risks without specifically referring to a settlement asset backed by money market funds, that could create heightened volatility during turbulent market periods.

The central banks’ role is to ensure the continued, and perhaps increased role of central bank money and to promote “robust, stable and integrated” capital markets.

Mr Cipollone mentioned the challenge of choosing a technical direction. By adopting a single technology, this will discourage exploration of other technologies during a period of innovation. Hence, the alternative is to encourage interoperability between diverse networks, including existing ones. This is a more flexible approach, although we’d observe it will sacrifice some efficiencies.

DLT trial extension?
In terms of concrete actions, following the settlement trials ending next month, the ECB and Eurosystem are exploring how it can build on that. That implies either extending the timeframe or making some or all solutions permanent.

Additionally, it plans to explore allowing DLT-based assets to be used as collateral in the Eurosystem. We’d note that the Swiss National Bank extended its wholesale CBDC trial by two years and already accepts DLT-based collateral.

The director said some interoperability systems are considered a stop gap towards migrating to the longer term vision. This might be a nod to the use of the Trigger solution in the current settlement trials. Instead of providing a digital currency, the Trigger solution links DLTs to the conventional T2S settlement system.

“In embracing this technological shift, we are not merely reacting to change, but actively participating in shaping a more efficient, innovative and resilient financial future for Europe,” Mr Cipollone concluded.

@ Newshounds News™

Source:  Ledger Insights

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BRICS NEWS:  BRICS EYES ‘PETROYUAN’ TO CHALLENGE DOLLAR DOMINANCE AHEAD OF KEY SUMMIT

▪️BRICS is considering using the Chinese yuan for oil payments to reduce reliance on the U.S. dollar.

▪️Saudi Arabia is open to trading oil in yuan, though it prioritizes keeping politics out of commerce.

The BRICS alliance, comprising Brazil, Russia, India, China, and South Africa, is reportedly exploring the potential introduction of a “petroyuan” to rival the dollar’s dominance in the global oil trade.

This is expected to be taken up at the next BRICS summit in Kazan, Russia, to establish an alternative to oil payments in dollars using the yuan.

This comes after the biggest oil exporting nation in the world, Saudi Arabia, showed interest in pricing oil in yuan, which is a major blow to the petrodollar system.

Traditionally, the country has sold its oil in US dollars but has expressed interest in diversifying its trade basket per current international financial practices. Russia is also interested in the petroyuan, as Moscow aims to decrease the use of the US dollar and facilitate transactions through SWIFT.

Following its exclusion from SWIFT in 2022 due to the conflict in Ukraine, Russia has been exploring alternative methods for international financial transactions.

OMFIF Report Highlights Petroyuan Adoption Challenges
While the idea of a petroyuan presents opportunities for the BRICS nations, challenges remain. A recent report from the Official Monetary and Financial Institutions Forum (OMFIF) identified several challenges many countries may face when adopting a yuan-based oil payment system.

 A limitation is that surpluses from oil revenues can only be used to purchase goods from China or stored in foreign currencies. This means that BRICS financial intermediaries would be forced to transfer the yuan to other countries in need.

Chinese banks stand to benefit most from this system, earning profits by managing these surpluses. Other Western financial institutions may also participate, given the possibility of making profits from differences between oil prices in dollars and yuan. However, adopting the petroyuan can further hinder the development of the global payment system.

However, Saudi officials have stated that politics will have no role. Bandar Al-khorayef, Saudi Arabia’s minister of industry and mineral resources, pointed out that while the country is willing to consider the use of new instruments in trade, such as the petroyuan, it will not mix politics with business. 

The BRICS nations are also considering the creation of their own currency for trade within the alliance, with some reports suggesting it may be backed by gold.

IMF Analysis Reveals BRICS Outperforms G7
As highlighted by Crypto News Flash, President Putin recently spoke about the creation of the BRICS pay, a blockchain-based payment system. The system is intended to support foreign trade operations and transactions not involving Western financial systems.

Crypto News Flash recently reported that, based on the IMF’s analysis, BRICS has outperformed the G7 in several key metrics. Notably, BRICS has emerged as the leading producer of oil imports.

The group accounts for 41% of the world’s oil production, a figure higher than the G7’s 29%.  Also, BRICS has the largest population share in the global population, accounting for 45% of the global population, while the G7 countries account for only 30% of the global population.

Moreover, the BRICS countries have now reported 32% of the world GDP while the G7 has reported 29%, which shows the growth of developing countries.

@ Newshounds News™

Source:  Crypto News Flash

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WHICH COUNTRIES ARE WINNING THE CRYPTO RACE?  |  YOUTUBE

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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Thank you Dinar Recaps

Seeds of Wisdom RV and Economic Updates Monday Morning 10-7-24

Good Morning Dinar Recaps,

XRP NEWS: WILL RIPPLE AND SEC SETTLE DURING 14-DAY APPEAL PERIOD?

▪️Speculation has increased around the SEC vs Ripple case as experts provide contradictory opinions on the probability of a formal appeal after a notice of appeal was submitted on October 3.

▪️A former SEC lawyer believes that the consistent approach of the Agency implies that its decision is not motivated by an increment of the $125 million penalty.

CNF recently reported that the US Securities and Exchange Commission (SEC) has filed a notice of appeal with the States Court of Appeals for the Second Circuit. 

According to a SEC spokesperson, the Commission’s decision stems from its observation of a contradiction between a part of Judge Analisa Torres’ XRP ruling in July 2023 and a decade-long precedent set by the Supreme Court. Meanwhile, an XRP analyst and enthusiast identified as JackTheRippler believes that the blockchain company and the Commission could reach an agreement within 14 days.

According to this enthusiast, SEC’s decision to appeal hinges on the desire to increase the initial penalty of $125 million imposed on Ripple. However, the former SEC lawyer, Marc Fagel, who rightly predicted the appeal decision thinks otherwise.

🚨BREAKING: The SEC and @Ripple can reach a settlement during the 14-day period following the “NOTICE of appeal” The SEC wants more money and appealed against the $125M.#XRP‘s status cannot be changed and will never be considered a security! pic.twitter.com/9AOCbdQXhD— JackTheRippler (@jack_rippla) October 6, 2024

Commenting on this, Fagel hinted that the consistency in the approach of the Commission, starting from its Interlocutory appeal last year over the programmatic sales of XRP, implies that the reason for its appeal is far from the penalty amount. To him, there is no reasonable basis to expect a settlement even though this is theoretically possible.

Ripple (XRP) Executives and Industry Lawyers Speak Out
In a brutal response, Ripple Chief Legal Officer (CLO) Stuart Alderoty, accused the SEC of deliberately staging litigation warfare against the crypto industry. According to him, Ripple would study the situation and file a cross-appeal.

We are evaluating whether to file a cross-appeal. Either way, the SEC’s lawsuit has been irrational and misguided from the start, and we’re ready to prove that yet again in the appellate court (once again taking the lead for the industry).

Joining the conversation, lawyer Bill Morgan clarified that the Commission has only filed a notice of appeal. According to him, both parties could potentially negotiate for a settlement within 14 days.

On the other hand, Morgan believes that this possibility could also be highly unlikely considering the SEC’s recent stance on the crypto industry. In this case, he advised that Ripple challenge the institutional sales to On-Demand Liquidity (ODL) customers if it decides to cross-appeal.

Meanwhile, Ripple CEO Brad Garlinghouse thinks this appeal is “misguided” and “infuriating”.

While we’ll fight in court for as long as we need, let’s be clear: XRP’s status as a non-security is the law of the land today – and that does not change even in the face of this misguided – and infuriating – appeal. Remember, when the SEC tried unsuccessfully to file an “interlocutory appeal” they made clear they had no intention of challenging XRP’s status as a non-security.)

@ Newshounds News™

Source:  Crypto News Flash

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CRYPTO IN THE UAE JUST GOT A TAX BREAK : NO MORE VAT ON DIGITAL ASSETS!

The UAE has once again planted itself in the spotlight for the crypto space with its recent Dubai crypto tax changes. While most countries are struggling to give crypto its space in the economy, the UAE is leading by setting various examples.

This time, the UAE has brought big changes to its tax rules for crypto. On October 02, the Federal Tax Authority (FTA) made an announcement about new updates to Value Added Tax. Transfers and conversions of digital assets, including cryptocurrencies, are now exempt from VAT. This update even applies retroactively to transactions dating back to 2018.

What’s the Deal With Virtual Assets and VAT?
If you’re running a business in the UAE that deals with virtual assets—like buying, selling, or converting crypto—this change could mean you owe less tax. And the best part? It applies retroactively from January 1, 2018, which could lead to some major tax savings.

But there’s a bit more to it. If your company has been paying VAT on these transactions since 2018, you might want to take a closer look at your old tax returns. There could be a chance to correct past filings and claim back VAT that you shouldn’t have paid in the first place.

 This process is called input VAT recovery, and it allows businesses to get back the VAT they’ve already paid on business- related expenses.

New VAT Rules for Exports and Services
The changes don’t just affect crypto companies. Exporters in the UAE will also see some shifts in how they handle VAT. It’s now easier to apply the zero VAT rate when exporting goods, as the documentary requirements have been relaxed. On the flip side, exporting services—especially those tied to real estate or digital activities—may now be subject to the standard VAT rate.

VAT Exemptions for Investment Funds
It’s not just crypto businesses celebrating these changes. Investment funds are also getting a VAT break. Fund managers, and those running licensed investment funds, can now benefit from VAT exemptions, which could lower their operating costs. These savings might help investment firms reinvest in their growth, especially when working with services from outside the UAE.

What’s Next for Crypto Regulations?
Aside from the tax updates, the UAE is tightening its regulations on cryptocurrencies. Dubai’s Virtual Asset Regulatory Authority (VARA) is teaming up with the Securities and Commodities Authority (SCA) to monitor crypto businesses more closely. If you’re in the business of promoting virtual assets, you’ll need to make sure you include a disclaimer in your marketing materials. It must warn that virtual assets can be extremely volatile and might lose value quickly.

What Should Businesses Do Now?
These updates are a game-changer for companies in the UAE—especially those dealing with crypto. Whether you’re managing virtual assets or running an investment fund, now’s the time to review your tax strategy. By adjusting to these new regulations, businesses could save money and avoid unnecessary complications in the future. And with the UAE aiming to be a global hub for digital assets, keeping up with these changes is key to staying competitive.

@ Newshounds News™

Source:  Coinpedia

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HONG KONG ISSUES THIRD CRYPTO TRADING PLATFORM LICENSE, PLANS MORE APPROVALS

11 more platforms are currently on the SFC’s "deemed-to-be-licensed" list.

Hong Kong’s financial regulator has granted its third license under the new crypto trading platform regime, with plans to approve more by the end of the year.

In an interview with local media outlet HK01, Julia Leung, Chief Executive of the Securities and Futures Commission (SFC), confirmed that HKVAX is the latest firm to receive a license to operate as a crypto exchange in Hong Kong.

This follows earlier approvals for OSL and HashKey, which are already licensed to provide crypto trading services.

11 More Platforms Are Under Consideration
Leung highlighted that 11 other platforms are currently on the SFC’s “deemed-to-be-licensed” list, which includes firms that have submitted applications under the new regime.

The SFC has conducted initial onsite inspections of these applicants and has asked them to make necessary adjustments to comply with regulatory requirements.

Leung expressed the regulator’s aim to issue more licenses in batches by year-end.

Anthony Ng, co-founder and CEO of HKVAX, stated that the license aligns with Hong Kong’s ambition to solidify its role as a leading financial hub.

“This approval affirms HKVAX’s position and demonstrates Hong Kong’s commitment to being at the forefront of the virtual asset industry,” Ng said.

Hong Kong’s approach to crypto regulation gained momentum in June 2023, when it formally implemented a licensing framework for crypto trading platforms, enabling them to serve retail investors.

The move was seen as a bid to attract more crypto firms to the city.

However, not everyone is satisfied with the regulatory framework.

Duncan Chiu, a local lawmaker, criticized the rules as “excessively stringent,” suggesting they have deterred some global exchanges from entering the Hong Kong market.

On March 28, 2024, HKVAEX, suspected to be affiliated with Binance, withdrew its license application.

Subsequently, on May 14, IBTCEX, QuanXLab, and Huobi HK followed suit, followed by Gate.HK on May 22, OKX HK on May 24, and Bybit (Spark Fintech Limited) on May 31.

Meanwhile, Bullish and Crypto.com remain on the SFC’s list of pending applicants.

Crypto Exchange Applicants Face Uncertainty After Inspections
As reported, 11 Hong Kong cryptocurrency exchanges, which initially received provisional approvals, have come under regulatory scrutiny.

This came after the city’s SFC conducted on-site inspections of these “deemed-to-be-licensed” platforms and found several practices that fell short of regulatory expectations.

The inspections revealed that some crypto firms are overly dependent on a limited number of executives for the custody of client assets, raising concerns about their ability to manage these responsibilities effectively.

Additionally, some exchanges were found lacking in robust measures to protect against cybercrime.

The SFC has not disclosed which specific firms failed to meet the standards, and the inspections are still ongoing, leaving the possibility of further findings.

The SFC warned that platforms unable to address critical deficiencies identified during inspections could face the removal of their “deemed-to-be-licensed” status or have their license applications rejected outright.

@ Newshounds News™

Source:  CryptoNews   

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XINFIN XDC THE MOST UNDERVALUED COIN - DIGITAL TRADE IS READY TO EXPLODE  |  Youtube

@ Newshounds News™

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 DON'T MISS A NOTIFICATION AND SUBSCRIBE  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

 ~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's Podcast Link

Newshound's News Telegram Room Link

Q & A Classroom Link  

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Subscribe to Newsletter

Thank you Dinar Recaps

News, Rumors and Opinions Monday AM 10-7-2024

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts from the Restored Republic via a GCR: Update as of Mon. 7 Oct. 2024

Compiled Mon. 7 Oct. 2024 12:01 am EST by Judy Byington

Sun. 6 Oct. 2024 You should be excited as the rest of your life is starting today. …Julian Assange: https://t.me/JulianAssangeWiki/2372

Banks are in check.
• Government is in check.
• Wall Street is in check.

• Ports are in check.
• The entertainment industry is in check.
• The Legal system is in check.

All of this is happening today and will have ripple effects for decades. You will witness it all in real-time and see accountability unfold like never before. There will be no more getting over on the American people. Your country will shift towards programs that serve you or else. And that’s the way it’s going to be for centuries. We deserve it. You deserve it. Your children deserve it. To solidify this, we must witness what Law & Order can do for a country under siege. This will be the stamp of approval.

Banks on a leash: No more reckless speculation. No more shady deals. For the first time, the banking system is being held accountable. The gold-backed system will protect your hard-earned wealth with real value, not inflated promises.

Wall Street’s Days of Manipulation Are Over: The financial elites are finally being put in check. No more market rigging, no more siphoning wealth from the middle class. The rise of decentralized, asset-backed systems ensures real value drives the market.

Ports Flowing with Integrity: No more backroom deals creating shortages. Goods will now flow through the ports with fair labor practices, ensuring a system built on trust and cooperation.

~~~~~~~~~~~~~~

Global Currency Reset: (Rumors/Opinions)

Sat. 5 Oct. 2024 Wolverine: With the news that the Pentecostal group has finally released payments to their leaders it’s the start of the domino effect that soon others will start soon as well. The Precatorias should start by this week and hopefully the rest will follow. Please remain patient and believe this is happening. With the release of the Pentecostal group it’s a sign that this has started. Glory to God. God bless everyone of you. Your friend Wolverine

Sun. 6 Oct. 2024: QFS NEWS: All Banks are Transitioning Over Into the QFS – Start Getting Hold of the ISO 20022 XLM and XRP – 8 Billion People Will Inevitably Transition to the QFS. The world is on the brink of an unprecedented financial revolution, and the powerhouses of the banking sector are quaking in their boots. The Quantum Financial System (QFS) is here, and it’s changing EVERYTHING. Prepare yourselves, the revolution has begun! https://amg-news.com/qfs-news-all-banks-are-transitioning-over-into-the-qfs-start-getting-hold-of-the-iso-20022-xlm-and-xrp-8-billion-people-will-inevitably-transition-to-the-qfs/

Sun. 6 Oct. 2024: BOOOM!! There are a total of 179 central banks listed by the BIS with about 80 more when counting regional monetary authorities among the 209 countries— all these are being connected too.

Sun. 6 Oct. 2024: New List of 209 Countries That Are Connected to The QFS System or are Being Connected – QFS + RTGS Trust The Plan! https://amg-news.com/update-new-list-of-209-countries-that-are-connected-to-the-qfs-system-or-are-being-connected-qfs-rtgs-trust-the-plan/

Read full post here:  https://dinarchronicles.com/2024/10/07/restored-republic-via-a-gcr-update-as-of-october-7-2024/

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Militia Man  If you add up the oil, non-oil, tourism, all of the thing that's where they're going to be able to support the value of their exchange rate with a Real Effective Exchange Rate - Once approved by the IMF, Bank of International Settlements, The World Bank...This is really getting hot!

Mnt Goat   I was also told to watch for yet more articles in the news about the project to delete the zeros but to be aware that ONLY the ones coming from her committee on this subject matter can be trusted. As you know my contact works on the committee from the Central Bank and it has been given the task of ensuring a smooth process. I was also told
that in late November or early December we will see the newer lower denominations and their pictures and features depicted on the CBI site. The ending of the currency auctions at the end of 2024 will also be signal to us that everything is moving correctly and we should see the IQD returned or reinstated back to FOREX in early 2025.

MARKETS A LOOK AHEAD: WHAT IS ABOUT TO HAPPEN WILL BLOW YOUR MIND. (Important Updates).

Greg Mannarino:  10-6-2024

https://www.youtube.com/watch?v=VHix3dA7EHE

"Be PREPARED For What's COMING..." - George Gammon

10-6-2024

George offers his perspective on the likelihood and potential severity of a looming recession, drawing parallels to past economic crises. He emphasizes the importance of understanding these cycles and being prepared for what might come next.

https://www.youtube.com/watch?v=zTyfck-ez98

Seeds of Wisdom RV and Economic Updates Sunday Afternoon 10-6-24

Good Afternoon Dinar Recaps,

BANK OF ENGLAND WANTS TO ENSURE TOKENIZED WHOLESALE TRANSACTIONS USE CENTRAL BANK MONEY

During a speech on October 3rd, the Bank of England’s Sasha Mills outlined the need for tokenized wholesale transactions to be settled in central bank money. Ms Mills is the Executive Director of Financial Market Infrastructure.

“If central bank money is unable to interact with new technologies, there could be a risk of high value wholesale settlement activity moving away from central bank money to private settlement assets, weakening financial stability,” she said.

Ms Mills outlined some of the options to ensure transactions continue to be settled in central bank money. That’s especially relevant since applications opened for the Digital Securities Sandbox, a joint initiative between the Bank and the Financial Conduct Authority.

The first option is to use the omnibus account facility. This allows banks to transfer money to a shared central bank account, where the cash is tokenized as a joint token. That’s the model of Fnality which went live (with limits) last year. 

The Bank also has a long term plan to extend the hours of its renewed RTGS system and is planning a synchronisation interface. This will be an extension of work done as part of Project Meridian which completed last year. Plus, the bank is considering a wholesale CBDC.

In late July the Bank published a discussion paper on innovation in money and payments, inviting input on the synchronisation work and a potential wholesale CBDC. The deadline for feedback is at the end of October. The Bank is also taking part in Project Agorá, which explores the upgrade of correspondent banking using multiple wholesale CBDCs.

“There’s a huge amount of work taking place in industry around the adoption of digital assets; unless we’re alive to this work, the speed at which certain markets and activities become systemic may outpace the ability of policymakers to build infrastructures and frameworks to respond,” said Ms Mills.

The desire for central bank money
It’s worth circling back to why central banks are so keen on using central bank money. The settlement of tokenized assets can use delivery versus payment. Hence, there’s no risk that one party hands over the funds but doesn’t receive the asset. However, that only addresses counterparty risk. 

There’s still credit risk. In other words, if the buyer has money at a bank to pay for the assets, it’s possible the commercial bank could go bust before the settlement.

@ Newshounds News™

Source: Ledger Insights 

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RIPPLE VS SEC NEWS: IS GARY GENSLER ON THE VERGE OF GETTING FIRED?

The SEC recently filed an appeal in the ongoing SEC vs. Ripple case, challenging Judge Torres’ ruling. Many analysts have already discussed reasons why this appeal likely won’t succeed, given the low odds of overturning the original decision. 

Ripple’s Chief Legal Officer, Stuart Alderoty, had previously pointed out that the success rate for appeals in similar cases is around 10%, making the SEC’s current appeal an uphill battle.

The ongoing appeal in the XRP lawsuit has had an impact on the market, with XRP’s price dropping significantly following the SEC’s announcement to appeal. Critics, including Ripple CEO Brad Garlinghouse, argue that the SEC’s regulatory approach is harming the industry rather than protecting investors.

Recent meetings within the SEC have revealed increasing dissatisfaction among former and current commissioners regarding the agency’s direction, with calls for a reevaluation of its regulatory strategy. Many are expressing concerns over the SEC’s overreach and the unintended consequences of its enforcement actions, particularly in the case of XRP.

Robert B. Stebbins, General Counsel of the Securities and Exchange Commission, said in a meeting, “I don’t think that the current structure is working very well. I don’t like the idea that, from a big picture, the SEC has someone in corporate finance determining whether something is an important social good—and you’re not, and you’re paying for it.

I think that’s a very ugly argument to make in the fifth circuit when you just look at the last 25 years. Right now, we’re going to have a whole new structure. So, I think the SEC has to be very careful about where they’re going.”

Recent turmoil within the SEC, including the resignation of two lawyers due to misconduct, has intensified scrutiny on Gensler’s leadership. With calls for greater awareness around his actions, some analysts suggest that raising public consciousness about the SEC’s overreach could lead to accountability.

@ Newshounds News™

Source:  Coinpedia

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URUGUAY ENACTS BILL 20.345: URUGUAY’S LEGISLATIVE ADVANCES IN CRYPTOCURRENCY OVERSIGHT

▪️Uruguay passes Bill 20.345, positioning itself as a global and regional leader in cryptocurrency regulation.

▪️The new law categorizes cryptocurrencies, establishing a framework that recognizes digital assets distinct from fiat currency.

Uruguay has recently made significant strides in regulating the cryptocurrency sector with the enactment of Bill 20.345, focusing on Bitcoin (BTC) and other digital currencies.

This legislation positions Uruguay as a pioneer not only in Latin America but also globally, where few jurisdictions have established specific legal frameworks for cryptocurrencies.

As reported by Crypto News Flash, Uruguay now joins nations like El Salvador, Brazil, Argentina, and Venezuela, which possess some of the most developed cryptocurrency regulations in Latin America. This development has sparked both national and international discussions about the implications of such regulation.

The Uruguayan Fintech Chamber (CUF) was among the first to comment on the law, praising the government’s initiative as a significant first step in addressing cryptocurrency operations and recognizing them more formally within the national economy.

According to the CUF, the law establishes a basic framework that acknowledges cryptocurrencies, treating them as assets rather than fiat currency. This is seen as a crucial move towards legitimizing crypto currencies in Uruguay, providing clear guidelines for exchanges and other businesses in the sector to operate legally and transparently.

In the long term, this law has the potential to transform the financial landscape in Uruguay, attracting new investors and companies in the fintech sector.

 In addition, it provides a solid foundation for the development of new technologies and financial services based on virtual assets, which could position Uruguay as a benchmark in the region. – Uruguayan Fintech Chamber.

Furthermore, the legislation categorizes digital currencies into four types as defined by the Central Bank of Uruguay: “value currencies,” “utility tokens,” “stablecoins,” and “others.” This classification aims to create a more transparent regulatory environment and is a key aspect of the law highlighted by Uruguayan lawyer Juan Echeverría.

He noted that this categorization is vital for clarifying the legal status of different types of digital currencies and enhancing measures against money laundering and terrorism financing.

However, the law also introduces challenges, particularly concerning its implementation. The Central Bank of Uruguay is expected to issue detailed regulations in the coming months, which will include the steps for registering cryptocurrency platforms and the operational and legal requirements these entities must fulfill.

For the Fintech Chamber, understanding how these regulations will be executed and the timelines involved is critical. The ability of businesses to quickly adapt to these new legal and operational demands will be essential for the sustainable growth of the sector.

@ Newshounds News™

Source:  Crypto News Flash 

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El Salvador doubles down on Bitcoin, defies IMF concerns  |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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