Good Afternoon Dinar Recaps,

ISO 20022 Crypto: List of Compliant Coins & Tokens in 2024

Cryptocurrency projects that are ISO 20022 compliant can seamlessly integrate into traditional financial systems and introduce blockchain immutability and data decentralization to the financial sector.

It is worth noting that not all institutions have adopted the requirements to be ISO 20022 ready yet – according to a Forbes report from earlier this year, about 72% of banks are ISO 20022 compliant. The institutions that haven’t yet taken the necessary steps to become ISO 20022 compliant will have until 2025 to do so.

It is also worth mentioning that “ISO 20022 compliant coin” could be considered a misnomer, as the coin or token itself is not compliant. Instead, what we mean when referring to a project as ISO 20022 compliant is that it leverages some of the messaging language defined by the standard to more easily communicate and exchange data between the project’s own solutions (for example, Ripple’s payment network) and external financial systems (for example, SWIFT).

Good Morning Dinar Recaps,

Putin signs law allowing FOREIGN BANKS to OPEN BRANCHES in Russia

"Russian President Vladimir Putin signed a law that allows foreign banks to open branches in Russia but also provides for a number of restrictions on their activities. The document was published on the official portal of legal information."

"The goal is to create conditions for the development of a system of international settlements and attracting foreign investment, the explanatory note says."

"The work of branches of foreign banks will be aimed precisely at this. That is why they will not be able, like ordinary banks, to open deposits for individuals and companies, accounts in precious metals, engage in trust management of money and other property."

Good Morning Dinar Recaps,

What Was the Bretton Woods Agreement and System?

The Bretton Woods agreement was negotiated in July 1944 by delegates from 44 countries at the United Nations Monetary and Financial Conference held in Bretton Woods, New Hampshire.

Federal Reserve History. "Creation of the Bretton Woods System."

Under the Bretton Woods system, gold was the basis for the U.S. dollar, and other currencies were pegged to the U.S. dollar’s value.

The Bretton Woods system effectively came to an end in the early 1970s when President Richard M. Nixon announced that the U.S. would no longer exchange gold for U.S. currency.

Good Afternoon Dinar Recaps,

DOLLAR SLIPS AGAINST DONG "The U.S. dollar weakened against Vietnamese dong both at banks and unofficial exchange points Friday morning. 

Vietcombank sold the greenback at VND25,280, down 0.16% from Thursday."

"The dollar has increased against the dong by 3.52% since the beginning of the year. Globally, the dollar hovered close to a one-week high against major rivals on Friday, after the biggest drop in U.S. jobless claims in close to a year allayed fears of a looming economic downturn, Reuters reported."

Good Afternoon Dinar Recaps,

Trump Jr. to Launch Crypto Platform, to “Take on” Banks

PAY ATTENTION TO THIS ONE. THIS ARTICLE IS ANOTHER CONFIRMATION THE DIRECTION OF THE FINANCE WORLD .

"On August 8, Donald Trump Jr. revealed plans for a new DeFi platform aimed at addressing banking access inequality. During a Q&A session on the subscription-based platform Locals, Trump Jr. clarified that this venture is not a memecoin but a comprehensive crypto platform designed to take on traditional banking systems."

“This isn’t about creating a memecoin,” Trump Jr. stated, emphasizing that his initiative represents a broader and more impactful platform. However, he did caution that it will be some time before the project comes to fruition, withholding specific timelines for now.

Good Evening Dinar Recaps,

India has no plans to regulate crypto sales and purchases

Despite tightening measures against money laundering and terror financing, India has no immediate plans to regulate cryptocurrency transactions.

The Indian government revealed no immediate plans to regulate the sales and purchase of cryptocurrencies as it continues to tighten oversight on crypto-related money laundering and terror financing.

During a parliamentary meeting on Aug. 5, Pankaj Chaudhary, the Minister of State in India’s Ministry of Finance, responded to several questions detailing the nation’s current stance on crypto regulations.

Good evening Dinar Recaps,

Google Pay, Walmart-backed PhonePe to join India’s CBDC pilot

In April, Reserve Bank of India Governor Shri Shaktikanta Das announced plans to expand its retail central bank digital currency (CBDC) pilot beyond banks. Last month the central bank said payment providers would join the digital rupee pilot this quarter.

Now Reuters reported that five payment providers have applied, citing sources. They are Google Pay, Walmart-backed PhonePe, Cred, Amazon Pay and Mobikwik.

PhonePe is India’s leading payments app, followed by GooglePay. Together they make up 85% of transactions and value for UPI, India’s successful instant payment solution, which processes almost 14 billion transactions monthly.

Good Morning Dinar Recaps,

STELLAR Blockchain Chosen for New EURT Euro-Pegged STABLECOIN Initiative "Ireland-based electronic money institution (EMI) DECTA is partnering with French fintech company Next Generation to introduce a new Euro-pegged stablecoin, ‘EURT’.

The collaboration aims to create a fully compliant stablecoin that adheres to the Markets in Crypto-Assets (MiCA) regulations and operates on the Stellar blockchain, alongside three additional platforms."

Good Evening Dinar Recaps,

Three-Quarters of Banks Face Digital Banking Infrastructure Issues

The banking industry is experiencing a seismic shift as agile, digital-native FinTechs capture an ever-growing share of the market.

Burdened by outdated technology, traditional financial institutions face mounting challenges in delivering modern digital services.

The growing dominance of FinTechs — securing nearly half of all new account openings — highlights the urgency for banks to modernize their infrastructure.

Good Afternoon Dinar Recaps,

Blockchain and Nation-State Infrastructure: Why Bother? " Financial titans like JP Morgan, Standard Chartered, HSBC, and Goldman Sachs are diving deep into blockchain, spurred on by the SEC’s approval of spot Bitcoin and Ether ETFs and BlackRock’s tokenization initiatives.

However, participation from legacy organizations brings with it a growing risk of reproducing the same kinds of centralized structures that blockchain set out to dismantle. 

Additionally, greater involvement from traditional finance attracts stronger regulatory frameworks and more regimented policy structures from nation-state institutions, which risks stifling innovation and limiting the autonomy of our blockchain networks. So, why bother?"

"Not long ago, these financial giants were the loudest critics of crypto’s credibility and efficacy. For context, in 2017, the CEO of JPMorgan Chase famously declared, “BITCOIN IS A FRAUD”.