Seeds of Wisdom RV and Economic Updates Friday Morning 1-10-25

Good Morning Dinar Recaps,

SEC’S GENSLER SAYS MOST CRYPTO PROJECTS ARE DOOMED AS RIPPLE APPEAL DEADLINE NEARS

▪️Gary Gensler warns crypto market still rife with fraud, says many projects won’t survive in his final interview as SEC Chair.

▪️Outgoing SEC Chair Gary Gensler highlights scams in crypto, calls for stronger regulation as he prepares to step down.

Gary Gensler, the outgoing chair of the Securities and Exchange Commission, shared his thoughts on regulating the fast-growing crypto market. While he acknowledged that crypto is still a small part of the overall financial markets, he said that it’s full of bad actors and scams.

Under his leadership, the SEC has filed about 100 enforcement actions in the past four years, compared to his predecessor Jay Clayton’s 80. Gensler believes that the crypto market is still struggling with fraud, with many projects acting like risky investments that may not survive.

In an interview with Bloomberg, Gensler said,

In this field, it’s rife with bad actors.” He then broke down the crypto market into two parts, saying, “The public knows a lot about Bitcoin, which, depending on its market value, is two-thirds to 80% of the market value of crypto.

Gensler pointed out that there are “10,000 to 15,000 projects raising money from the public.” Many of these projects, he believes, are simply speculative investments, “hoping for a better future.” 

He explained, “I’ve been around finance for over four decades, and everything in the markets trades on a mixture of fundamentals and sentiment.” However, he added, “At any given time, I’ve never seen a field that’s so much wrapped up in sentiment and not so much about fundamentals.”

Gensler Says Crypto Projects ‘Won’t Survive’

He also warned, “Many of these 10,000 to 15,000 projects will not survive. They’re like venture capital investments. They’re not going to survive.” Gensler pointed to the existence of “small pump and dump schemes” that have caused problems in the industry. Reflecting on past events, he said, “We’ve lived through a few years where they became notorious, but they’re in jail now.”

Despite the growing number of enforcement actions, Gensler thinks that the crypto market is still not complying with the rules. He sees his role as ensuring that the market works without fraud, manipulation, and misinformation. Gensler is set to resign on January 20 and Paul Atkins will serve as the SEC Chair next.

@ Newshounds News™

Source:  Coinpedia

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PRO-CRYPTO CFTC BOSS, SUBCOMMITTEE RUMORED AS TRUMP INAUGURATION NEARS

New reports suggest the US Senate Banking Committee is looking to create its first crypto subcommittee, while Trump is reportedly eyeing a pro-crypto CFTC commissioner to take the agency’s helm.

The US Senate Banking Committee is reportedly set to create its first-ever crypto subcommittee, while a pro-crypto commissioner is now a top pick to replace the outgoing chair of the Commodity Futures Trading Commission, according to two reports.

The two reports — seen as positive developments for the crypto industry — come less than two weeks before President-elect Donald Trump’s inauguration, set for Jan. 20.

According to a report from FOX Business on Jan. 9, following a Punchbowl News report on Jan. 8, the US Senate Banking Committee’s new chair, Republican Senator Tim Scott, has made the creation of the subcommittee a top priority and plans to replicate the House Financial Services Committee’s model, which introduced a crypto subcommittee in 2023.

Two Senate aides told FOX that Scott has put forward Senator Cynthia Lummis to chair the subcommittee, with a vote on her approval to happen in the next few days. Lummis, a longtime crypto supporter, has recently echoed Trump’s push for a strategic Bitcoin.

Trump has made sweeping promises to rein in crypto regulation by enforcement and turn the US into a “crypto capital.” The Senate Banking Committee is the key overseer of financial agencies such as the Securities and Exchange Commission and of federal monetary policy.

A memo seen by FOX said Senators Bernie Moreno, Dave McCormick, Thom Tillis and Bill Hagerty were being considered for the new crypto subcommittee. They are all “strongly supportive” of crypto, according to the digital assets lobby group Stand With Crypto.

It is not known which Democrats might be joining the subcommittee, but Senator Elizabeth Warren, a vocal crypto skeptic, is the party’s most senior member of the Senate Banking Committee

In 2024, the House passed a key crypto bill known as FIT21 that was created by the House Financial Services crypto subcommittee. It would hand greater regulatory control to the Commodity Futures Trading Commission. The bill is currently awaiting action in the Senate.

Mersinger tipped to lead CFTC

Meanwhile, Unchained reported on Jan. 9 that five people close to the matter said CFTC Commissioner Summer Mersinger has emerged as a leading choice to chair the agency, as current CFTC chair Rostin Behnam said he’d be stepping down when Trump takes office.

Mersinger has overtaken ex-CFTC commissioner and a16z policy head Brian Quintenz for the job, as she’s seen as someone who could pass a Senate confirmation. She was a staffer for Senate Majority Leader John Thune for 12 years.

As she’s already a commissioner, Trump could appoint her to a temporary chair role while the Senate deliberates on her confirmation.

Mersinger has made crypto-supportive comments, telling a Blockchain conference in November that she was “uncomfortable” that the CFTC was “kind of setting some sort of policy through our enforcement cases.”

Trump is set to take office on Jan. 20, officially giving Republicans full control of the government after the party picked up a majority of Senate seats and kept its House majority in November’s elections. The new Congress kicked off on Jan. 3.

@ Newshounds News™

Source:  CoinTelegraph

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IOTA INVITES DEVELOPERS TO APPLY FOR $10M IN SEASON 2 GRANTS

▪️IOTA’s Season 2 grant program aims to empower builders aligned with IOTA’s vision of sustainability and decentralization.

▪️Prospective applicants can submit proposals via the IOTA Grants website, with projects evaluated based on scalability, usefulness, safety, alignment with funding goals, and long-term viability

The IOTA Ecosystem DLT Foundation unveiled its Season 2 grant program. The IOTA Grants Season 2 has committed to offering $10 million in funding and fostering innovation within the Web3 ecosystem. The initiative looking to empower Web3 builders and innovators focused on projects closely aligned with its vision of sustainability and thriving within a decentralized and free ecosystem.

IOTA Grants Season 2 Focus Areas & Funding Goals

It caters to three core areas, namely open-source development, education, and events, for supporting projects. These categories advance IOTA’s ecosystem by covering key aspects of Web3 growth.

For context, open-Source Development promotes the development of tools, utilities, and public goods that increase user experience.

Moreover, the foundation has targeted education to reduce the complexity of multi-layered technology to reach everyday users. Meanwhile, events that promote community-driven activities like hackathons and workshops are prioritized.

“We’re here to support you on this journey,” the IOTA Foundation stated. They added:

Whether you’re accelerating adoption through real-world applications, planning to utilize our EVM framework, or shaping the future of the IOTA Rebased network, our grants are designed to foster innovation and creativity across the entire spectrum.

Currently, one of the key areas of focus has been the launch of the IOTA rebased protocol. The IOTA Rebased protocol is reportedly gearing up for its mainnet re-launch in early 2025, reported CNF. On the social media platform X, Michael Atlan emphasized that this re-launch positions IOTA for broader real-world adoption

Success Of Season 1 Grants

The end of Season 1 of the IOTA Grants program has been on an upbeat note since it attracted quality talent and great projects. Altogether, there were 144 applications, from which 32 were funded amounting to $3.47 million. The process had to be momentarily halted because it was overwhelmed with applications.

The Foundation has reflected on the previous season by highlighting productive outcomes. In a blog post, the team wrote,

The first season proved highly productive, bringing exceptional talent and innovation into the IOTA ecosystem.

Hence, applying for Season 2 is relatively simple. Anyone can submit a proposal by logging onto the IOTA Grants website along with guidelines on the funding. The applicants would be interviewed by the IOTA Grant Committee, which includes members of the IOTA Foundation.

Projects are rated along six criteria including alignment with funding goals, scalability, usefulness, safety, expertise of the grantee, and long-term viability. 

The Foundation went ahead to inform that its evaluation process is quite transparent, assuring that all funding goes only to projects whose potential to alter the ecosystem can be maximally realized.

IOTA Grants Season 2 builds on the momentum of its predecessor and is seeking even more innovative ideas. “Your ideas have the power to drive positive change in the ecosystem, and the IOTA Ecosystem DLT Foundation is here to support you,” the Foundation encouraged.

The IOTA Foundation added that it’s excited to work with developers and visionaries to build the future of Web3. Thus, prospective candidates can visit the IOTA Grants website for more information or to apply.

@ Newshounds News™

Source:  Crypto News Flash

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Seeds of Wisdom RV and Economic Updates Thursday Evening 1-9-25

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HOW THE BITCOIN FREEDOM ACT COULD SHIELD OKLAHOMANS FROM INFLATION?

In November 2024, the US inflation rate grew sharply from 2.6% to 2.7%. In May 2020, it was just 0.1%. In June 2022, it touched a peak of 9.1%. This inflation pattern has adversely affected the value of the US dollar. Inflation, thus, is something that determines the quality of life a working-class professional leads. Recent developments indicate that US states are keen to protect people from the threat of inflation.

The Bitcoin Freedom Act introduced in the Oklahoma law-making house by Senator Dusty Deevers is the latest example. How much can this law impact the United States society? 

What is the Bitcoin Freedom Act?

The act proposes that Oklahomans should be provided a chance to choose whether they want to receive their wages in Bitcoin or not. It also submits that businesses should be allowed to accept payments in Bitcoin.

Why is the Bitcoin Freedom Act Significant?

At the start of 2024, the US inflation rate stood at just 3.1%. In March, it touched a peak of 3.5%. Though in November it came down to 2.7%, it was far higher than the 1.2% inflation recorded in the same month in 2020.

Growing inflation is one of the most serious threats the US economy is facing right now. Rising inflation means falling purchasing power.

Bitcoin can save people from losing their purchasing power to inflation, as its total supply is fixed, and thus is unaffected by the threat of devaluation unlike traditional currencies.

Oklahoma’s Leadership in Financial Innovation

The introduction of the bill is likely to make a serious impact across the United States. The action has lifted the state to the celebrated position of innovation-friendly economies. It may encourage many to enter the world of financial innovation confidently.

The Future of the Bitcoin Freedom Act

The political stance against the cryptocurrency industry shifted when Republican candidate Donald Trump who projected himself as a pro-crypto candidate, defeated Democratic candidate Kamala Harris who represented a crypto-skeptic regime, in the US presidential election.

In the latest election, the Republican Party received a massive majority in Oklahoma, a US state that has emerged as a stronghold of Republicans, especially since 2011.

The Bitcoin Freedom Act, also known as SB325, is expected to be discussed in the 60th legislative session of the 60th legislature. Reports say that the session will begin on February 3, 2025.

In conclusion, the Bitcoin Freedom Act is more than legislation – it is a step toward financial empowerment and innovation. By embracing Bitcoin, Oklahoma is securing its place in the future of finance.

@ Newshounds News™

Source:  CoinPedia

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BRICS NEWS:  BRICS FAIL TO CHALLENGE US DOLLAR IN 2024: CAN THEY THIS YEAR?

In one of the biggest developments of the last two years, the BRICS bloc has sought to challenge the dominance of the US dollar. Although its de-dollarization process persisted in 2024, the economic alliance has failed to make a significant impact. Now, all eyes are on if it stands a chance in 2025.

According to data from TradingView, a majority of major currencies have fallen against the US dollar. Indeed, the metrics show that the greenback ensured its strength through a resilient American economy. Contrarily, economic activity slowing in China and the Eurozone failed to create an environment for thriving de-dollarization.

US Dollar Ends 2024 Unmoved: Can BRICS De-Dollarization Take Hold This Year?

First created in 2001, the BRICS economic alliance has grown into a legitimate global force. The bloc has continued to expand, although its geopolitical implications have become a point of contention. Amid its increased de-dollarization efforts, the group has proved no match for the strength of the West.

Recent data show that the BRICS collective failed to truly challenge the US dollar in 2024, with its eyes now on succeeding in 2025. Over the course of the last twelve months, the Chinese yuan and Indian rupee both fell 2.8% against the dollar. Additionally, the Russian ruble fell 18.6% against the greenback.

A big reason for the outcome is the United States’ ability to continue its economic recovery. The country’s inflation has fallen from its 40-year high to settle just above the Central Bank’s target. Throughout the last year, it has become one of the best-recovering countries from the 2020 pandemic.

That hasn’t proven true for the rest of the world. Now, all eyes are on the incoming Trump administration. The US President-elect has already issued a stark warning to the BRICS bloc and those seeking to ditch the US dollar. However, his policies could have massive implications. Whether or not the greenback is challenged remains to be seen, but such a challenge would certainly come with a cost.

@ Newshounds News™

Source: Watcher Guru

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Seeds of Wisdom RV and Economic Updates Thursday Afternoon 1-9-25

Good Afternoon Dinar Recaps,

SOUTH KOREA TO ALLOW CORPORATE FIRMS TO INVEST IN CRYPTO: WHAT’S NEXT?

▪️FSC’s new policy allows businesses to participate in digital asset investments legally.

▪️FSC proposes raising stock ownership limits for companies from 5% to 15%.

▪️Over 30% of South Koreans actively trade cryptocurrencies, indicating significant market growth.

South Korea is preparing for a big shift in its approach to cryptocurrency. The Financial Services Commission (FSC) has announced plans to let corporations invest in digital assets. This decision could create new opportunities for businesses and give the country’s crypto industry a significant boost.

New Rules for Corporate Investments

Right now, companies in South Korea face strict rules on cryptocurrency investments, including challenges in opening real-name accounts. To change this, the FSC plans to start by allowing non-profit organizations to invest in digital assets under a regulated framework.

FSC Director Kwon Dae-young highlighted the importance of clear standards for listing cryptocurrencies and enforcing rules for virtual asset exchanges. This initial phase will help create a safer and more structured environment for investments.

Building a Safer Crypto Market

The FSC is also working on broader rules for issuing and trading digital assets. The goal is to make the process more transparent and secure while supporting innovation in the market.

To protect investors, the FSC plans to limit market participation to trustworthy companies. This includes introducing shareholder eligibility checks, requiring social credit ratings, and setting stricter guidelines for risky assets like meme coins.

Beyond cryptocurrency, the FSC is looking to make other financial reforms. One key proposal is raising the limit on how much stock companies can own in non-subsidiaries, increasing it from 5% to 15%. This change aims to give businesses more flexibility and control.

South Korea’s Growing Crypto Influence

South Korea’s decision to embrace corporate crypto investments shows its growing recognition of digital assets. While the global market faces challenges, the country is positioning itself as a leader in innovation.

Earlier, CoinPedia reported that the Bank of Korea, established under the Virtual Asset User Protection Act, disclosed that more than 30% of South Korea’s population is now engaged in crypto trading.

By opening its doors to corporate crypto investments, South Korea is setting a precedent that could inspire other nations to follow suit.

@ Newshounds News™

Source:  Coinpedia

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DOJ CLEARED TO SELL $6.5B SILK ROAD BITCOIN – NO MORE U.S. BTC RESERVE?

Wallets holding the seized BTC from Silk Road were intact at the time of writing.

▪️DOJ has reportedly approved the sale of seized 69K BTC, which Trump planned to repurpose for strategic reserve.

▪️No seized BTC had been moved from key wallets as of this writing.

Crypto Twitter has been abuzz with speculation that the U.S. Department of Justice (DOJ) greenlighted the sale of 69K Bitcoins [BTC], worth $6.5B, seized from Silk Road.

The update was first shared by media publisher DB News, citing a U.S. official.

In an X (formerly Twitter) post dated the 9th of January, the publisher stated,

“The U.S. Govt has been given the greenlight to liquidate 69,000 BTC ($6.5B) from Silk Road, an official confirmed to DB News today. Interesting situation less than 2 weeks away from the new admin who vowed to not sell.”

What’s next for U.S. BTC strategic reserve?

Market sentiment has always been impacted whenever updates on the U.S. government’s movement of BTC surface.

Given that President-elect Donald Trump pledged to form a U.S. BTC strategic reserve (SBR) using the above seized BTC, potential actions are even more scrutinized by the market.

Some community members speculated that the seized BTC had already been sold through a ‘credit line.’ One user claimed,

“The “seized BTC” that was meant to be used for a ‘strategic reserve’ [under the Trump administration] was sold off already, with a credit line sanctioned by Coinbase.”

Some flagged the update as FUD. In fact, Arkham data showed no balance decline in wallets linked to seized BTC at press time.

However, if true, the sale could happen before Trump’s presidential inauguration. According to some market experts, even such a scenario wouldn’t massively detour BTC.

Glassnode founders clarified that such a sale wouldn’t happen through exchanges but through OTC (over-the-counter) markets. So, it won’t suppress the king coin.

On his part, CryptoQuant founder Ki Young Ju downplayed the panic, reinforcing that the potential $6.5B sell-off could be smoothly absorbed by the market. He said,

“Last year, $379B entered the market based on realized cap—roughly $1B per day. The U.S. govt selling $6.5B could be absorbed in just a week. Do not panic.”

All said, prediction sites like Polymarket and Kalshi priced a +40% chance of a U.S. BTC strategic reserve in 2025.

However, at press time, the odds of that happening in the first 100 days of the new administration declined from 34% to 27%.

@ Newshounds News™

Source:  AMB Crypto

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Seeds of Wisdom RV and Economic Updates Thursday Morning 1-9-25

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RIPPLE’S RLUSD GEARS UP FOR EXCHANGE LISTINGS – WHAT IT MEANS FOR CRYPTO’S FUTURE

Ripple RLUSD stablecoin enters new markets through major cryptocurrency exchange platforms. Ripple President Monica Long confirms “imminent” expansion plans. The move aims to cut down crypto market volatility. During her Bloomberg interview, Long said, “RLUSD will become a key component of Ripple’s payment infrastructure.”

Ripple’s RLUSD Stablecoin Could Ease Crypto Volatility and Adoption Challenges

Current Trading Activity Shows Strong Demand

RLUSD started in December 2024, and it keeps a fixed 1:1 rate with USD. The Bullish cryptocurrency exchange handles 76% of all RLUSD trades. These happen mainly in RLUSD/USDC and XRP/RLUSD pairs. Furthermore, the Sologenic exchange adds $3.4 million daily XRP/RLUSD volume, making up 3.56% of all RLUSD trading. Thus, the Ripple RLUSD stablecoin shows high trading activity.

Payment Infrastructure Growth Powers RLUSD Adoption

Last year saw Ripple’s payment business double in size. This growth puts RLUSD stablecoin at the heart of their system. “Our payment business saw remarkable growth throughout 2024,” Long stated. She noted how stablecoin adoption keeps rising. RLUSD helps users move money in and out during high crypto market volatility and facilitates the ongoing use of Ripple RLUSD stablecoin.

Chainlink Partnership Reinforces Security Measures

Ripple teamed up with Chainlink to improve RLUSD price tracking. This works on both Ethereum and XRP Ledger. Their system stops price tricks and keeps data safe. Many independent operators check the data. This matters as more cryptocurrency exchange sites add RLUSD, underlining the growing role of Ripple RLUSD stablecoin in maintaining price stability and security.

XRP ETF Prospects Boost Market Confidence

Long sees good chances for XRP ETF approval after Bitcoin and Ethereum. “XRP could be next in line for ETF approval,” she said. She points to changing U.S. politics. Big names like WisdomTree and Bitwise want SEC approval. This shows growing trust in Ripple’s work and supports the Ripple RLUSD stablecoin’s robust market confidence.

Future Outlook for RLUSD

RLUSD stablecoin fights crypto market swings while pushing stablecoin adoption forward. Long stated that “RLUSD’s expansion across major exchanges represents a significant milestone in our mission to transform digital payments.” Better security through Chainlink and more cryptocurrency exchange options show Ripple’s long-term plans regarding RLUSD.

@ Newshounds News™

Source:  Watcher Guru

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HONG KONG'S BOLD STEP: HKMA’S NEW INITIATIVE TO BOOST DLT ADOPTION IN BANKING

Hong Kong, considered as one of the thriving financial hubs of Asia, is know for its welcoming attitude towards innovative technologies, especially those capable of strengthening its dominance in the financial sector.

The Hong Kong Monetary Authority, which is responsible for the upgrading of the nation-state’s financial framework, has launched a new initiative to help banks adopt distributed ledger technology safely and efficiently. What does this bold move actually signify? Does it open a new era of innovation in the banking sector in Hong Kong? Let’s examine!

What is HKMA’s Supervisory Incubator for DLT?

Helping banks to integrate distributed leader technology is the prime purpose of the HKMA’s initiative. The prime merit is that banks are offered an opportunity to safely and efficiently adopt DLT. This is very important to ensure that banks get maximum benefit from any integration with DLT.

Why is HKMA’s Initiative Important?

Primarily, there are three reasons why this initiative is pertinent.

▪️Firstly. It supports innovation in the banking sector.
▪️Secondly, it promotes the usage of tokenisaed deposits and smart contracts.
▪️Thirdly, it offers a strong framework for easy adoption of DLT.

Potential Benefits of DLT for Banking

▪️The prime benefit of DLT integration in the banking sector is that it enables real-time updation and autonomous bookkeeping.
▪️Additionally, it allows the creation of a simplified reconciliation framework.
▪️It facilitates the development of tailored financial products employing smart contracts.  

Recent Crypto Developments in Hong Kong

Recently, a proposal was presented by Hong Kong Legislative Council member Wu Jiexhuang to include Bitcoin in the national reserve of the nation-state. The lawmaker pointed out that the country could leverage China’s “one country, two systems” policy to impliement the proposal.

In conclusion, Hong Kong’s DLT initiative by HKMA is a significant step towards a more innovative and efficient banking future. It also reflects the nation-state’s growing focus on embracing blockchain technology.

@ Newshounds News™

Source:  Coinpedia

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XRP ETF: RIPPLE PREZ SAYS IT COULD SPARK THE NEXT BIG U.S. CRYPTO BOOM

In a recent Bloomberg interview Ripple President Monica Long sent shockwaves through the crypto community when she said an XRP ETF could be the next big thing in the US.

With the US regulatory environment looking good and a crypto friendly administration potentially on the horizon the approval process for an XRP ETF could speed up.

Long said after Bitcoin and Ether XRP will be the next spot ETF in the US “I think we will see more spot ETFs this year out of the US and I think XRP will be next” Crypto investors are excited as XRP continues to gain momentum with adoption and clarity.

What Makes XRP ETF a Potential Game-Changer?

Bitcoin and Ether ETFs were a game changer for the crypto market, giving traditional investors a regulated and secure way to get into digital assets. If an XRP ETF was approved it would open up institutional investment in XRP on a large scale and get XRP into the mainstream markets. An XRP ETF would be a big deal for Ripple and its growing community of investors and partners.

Long also mentioned the changing political landscape and that the new administration could speed up approvals of crypto related filings. This would give investors more confidence and grow the space faster.

Ripple’s Expanding Role in Crypto and Finance
XRP ETFs are still in the filing process but Ripple is already active in other parts of the crypto space. The company just launched its RLUSD stablecoin which is now regulated by the New York Department of Financial Services (NYDFS). With RLUSD being fully compliant with financial regulations it will be a key part of Ripple’s future of money and payments.

Ripple is also making RLUSD more useful by integrating it with the Chainlink standard so it can interact seamlessly with DeFi protocols. This opens up more use cases for RLUSD and makes it an asset for financial institutions and blockchain projects.

@ Newshounds News™

Source:  FX Leaders

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IMF ASKED KENYA TO ESTABLISH CLEAR CRYPTO REGULATIONS: WHAT’S NEXT?

▪️IMF urges Kenya to update outdated crypto regulations for consumer protection and financial stability.

▪️Kenya advised to align crypto laws with global standards to address scams and AML concerns.

▪️IMF suggests defining crypto assets in financial laws to avoid regulatory confusion.

The International Monetary Fund (IMF) has recommended that Kenya create a clear regulatory framework for its cryptocurrency market. This call comes after rising concerns about consumer protection, anti-money laundering (AML), and combating terrorism financing (CFT). The IMF’s advice highlights the growing need for Kenya to update its outdated laws to evolve its crypto sector.

@ Newshounds News™

Read more:  Coinpedia

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Seeds of Wisdom RV and Economic Updates Wednesday Morning 1-8-25

Good Morning Dinar Recaps,

BRICS TO KEEP DITCHING THE US DOLLAR IN 2025: ALLIANCE CONFIRMS

On the heels of immense threats from the West and geopolitical concerns brewing, the BRICS economic alliance appears to remain steadfast in its commitment to ditching the US dollar in 2025. Indeed, the collective has seemingly confirmed the matter, as recent discussion pointed to their belief in de-dollarization as a certain necessity.

US President-elect Donald Trump has been outspoken in his defense of the greenback. Throughout this campaign for reelection, he continually reiterated the importance of keeping the dollar as the world’s currency. After his victory, he issued a warning to BRICS specifically, threatening 100% tariffs on the bloc seeking to create their own dollar alternative.

BRICS to Keep Ditching the US Dollar Despite Trump Threats And There’s One Key Reason Why

The last year has seen the BRICS economic alliance continue their notable ascent. Once just a five-nation collective, the group phase doubled in size with its most recent expansion. Moreover, it has big plans for the global economic market that have seen the West take an undeniably favorable stance.

Although Trump has warned of impending repercussions, the BRICS bloc has reiterated that they are likely to keep ditching the US dollar in 2025 through a recent confirmation. Indeed, the group discussed the reality that de-dollarization is a necessity so long as the United States continues doing one thing.

In a recent statement, former International Monetary Fund director and Brazilian economist Paulo Nogueira Batista Jr. discussed the fact that sanctions are driving the bloc’s actions. Batista spoke to Russian President Vladimir Putin directly and relayed the foundation of its financial actions as an alliance.

“We are not against the dollar. It is the dollar that is against us,” he said in a recent interview. “Cahellengin the dollar and the US economy would not be possible, and in any case, it’s not our objective. The BRICS will serve to make us immune to sanction.”

So long as the United States continues sanctioning nations like Russia and Iran, the BRICS bloc is unlikely to shift on its de-dollarization approaches. However, that has not stopped dissension within the group from forming.

India has recently spoken about its desire to work with the incoming Trump regime. Moreover, the president-elect stated that he has been in direct contact with China. Specifically, hinting at the country taking a similarly collaborative approach.

@ Newshounds News™

Source:  Watchwe Guru

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RIPPLE CEO MEETS DONALD TRUMP: A MAJOR ANNOUNCEMENT LOOMING FOR XRP?

Ripple CEO Brad Garlinghouse has confirmed a significant meeting with President Elect Donald Trump, held at Trump’s Mar-a-Lago resort Jan 7, 2025. Accompanied by Ripple’s Chief Legal Officer Stuart Alderoty, the dinner highlights Ripple’s expanding influence amidst the changing regulatory environment in the US, sparking optimism for the crypto market in 2025.

With plans to slay 2025 with IPO and stablecoin Ripple is all set to acquire its lost territory. This closed-door meeting could be much more than just what we can imagine. Are we expecting an XRP ETF too?

Ripple’s Dinner Date with Trump, What’s Cooking?

On the social media platform X, Garlinghouse shared his excitement about the meeting, describing it as a “great start to 2025.” 

Alderoty also commented on the event with a lighthearted remark about the menu, but the dinner carries weighty implications. It comes as Ripple celebrates recent court victories against the U.S. SEC, solidifying its position as a leader in the crypto space.

The meeting hints that Ripple can get through the legal battle with SEC and this meeting is very crucial since Ripple and the wider industry are manifesting for a dismissal of Ripple vs SEC setting a crypto milestone.

Ripple is not losing ground

Ripple’s groundbreaking legal victory against the SEC, which had accused the company of selling unregistered securities via XRP, continues to shape its future. 

Attorney John E. Deaton, a pro-XRP advocate, noted that Ripple’s transparency throughout the case underscored the SEC’s aggressive litigation tactics. Despite these challenges, Ripple emerged stronger, opening doors for further advancements in the cryptocurrency sector.

Amid this legal progress, analysts are optimistic about XRP’s potential. Some forecasts predict the token could surge to $3, driven by increasing adoption and confidence in Ripple’s solutions. XRP currently trades at $2.44, with a 14% rise over the past week, signaling strong market momentum.

Expanding U.S. Operations

Ripple is also shifting focus back to the U.S. market, with 75% of its new positions now based domestically. The company secured more U.S. business contracts in late 2024 than in the previous six months combined, signaling robust growth. At the same time, political discussions, including those between Senator Cynthia Lummis and SEC chairman candidate Paul Atkins, emphasize the importance of regulatory reform to foster digital asset innovation.

Ripple is currently holding its market position with new product launches, such as the RLUSD stablecoin, which is set to expand across multiple platforms. The company has also partnered with Chainlink to integrate secure pricing into the DeFi ecosystem, further boosting its valuation.

As Ripple enters 2025, this epic meeting with Trump symbolizes a transformative year ahead, both for the company and the broader crypto space. With legal wins, product innovation, and strategic collaborations, Ripple is poised to lead the blockchain industry.

@ Newshounds News™

Source:  Coinpedia

Read more:  Twitter

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RIPPLE CAPS RLUSD SUPPLY AT 53.1M: WHAT’S DRIVING THE MOVE?

▪️Ripple’s deliberate pacing of RLUSD issuance reflects a commitment to regulatory compliance and long-term ecosystem stability.

▪️Ripple CEO Brad Garlinghouse expressed confidence in the incoming Trump administration’s potential to boost crypto innovation and job growth.

Ripple’s launch of RLUSD stablecoin has stirred strong market sentiment, thereby giving the blockchain startup a strong footing in the rapidly evolving stablecoin market. However, the firm has introduced a 53.1 million supply cap on the RLUSD circulation, sparking curiosity about the company’s strategy.

In a thread on the X platform, popular crypto analyst Arthur noted that Ripple is making the controlled release of RLUSD stablecoin in order to preserve its value. As a result, the company is consciously curbing over-supply, which could otherwise lead to inflation and negatively impact market sentiment.

Ripple to Balnace RLUSD Supply and Demand to Prevent Inflation

Ripple seems to be exercising caution with RLUSD’s supply and holding off from issuing more tokens until market conditions indicate stronger demand. If they release too much RLUSD supply, it could increase the token’s perceived value and disrupt the balance of supply and demand.

This strategy underscores Ripple’s focus on ensuring RLUSD’s value remains sustainable and aligned with genuine market needs. By avoiding additional releases, the company aims to position RLUSD as a stable and reliable asset for both institutional and retail investors, noted Arthur.

It seems that Ripple is working to build a strong foundation that can drive the long-term value of RLUSD stablecoin, reported CNF. In the meantime, the company also plans for higher-order goals like exploring new markets and fostering partnerships while strengthening the stability of its broader ecosystem.

Regulatory hurdles may also influence the pace at which RLUSD is issued. By adopting a cautious yet deliberate approach, the company ensures compliance with regulations while positioning itself for potentially unprecedented future growth.

Brad Garlinghouse Hopeful Under Donald Trump’s Leadership

Ripple CEO Brad Garlinghouse stated that he remains hopeful as Donald Trump sets to take charge as US President ahead this month on January 20, reported CNF. In his message on the X platform, he wrote:

2025 is here and the Trump bull market is real. For Ripple, this is even more personal after Gensler’s SEC effectively froze our business opportunities here at home for years. The optimism is obvious and very deserved.

He also said that Ripple has signed more US deals in the last six weeks of 2024, after Donald Trump’s US election victory. Garlinghouse highlighted the proactive efforts of key figures like Scott Bessent, David Sacks, and Paul Atkins, who are poised to play significant roles in shaping U.S. economic policy.

“Team Trump is already driving innovation and job growth in the U.S., and they haven’t even taken office yet!” Garlinghouse noted. He added that the administration’s campaign and planned Day 1 priorities already contribute to a resurgence of interest and confidence in the crypto space.

@ Newshounds News™

Source:  Crypto News Flash

~~~~~~~~~

BRICS TO KEEP DITCHING THE US DOLLAR IN 2025: ALLIANCE CONFIRMS

On the heels of immense threats from the West and geopolitical concerns brewing, the BRICS economic alliance appears to remain steadfast in its commitment to ditching the US dollar in 2025. Indeed, the collective has seemingly confirmed the matter, as recent discussion pointed to their belief in de-dollarization as a certain necessity.

US President-elect Donald Trump has been outspoken in his defense of the greenback. Throughout this campaign for reelection, he continually reiterated the importance of keeping the dollar as the world’s currency. After his victory, he issued a warning to BRICS specifically, threatening 100% tariffs on the bloc seeking to create their own dollar alternative.

BRICS to Keep Ditching the US Dollar Despite Trump Threats And There’s One Key Reason Why

The last year has seen the BRICS economic alliance continue their notable ascent. Once just a five-nation collective, the group phase doubled in size with its most recent expansion. Moreover, it has big plans for the global economic market that have seen the West take an undeniably favorable stance.

Although Trump has warned of impending repercussions, the BRICS bloc has reiterated that they are likely to keep ditching the US dollar in 2025 through a recent confirmation. Indeed, the group discussed the reality that de-dollarization is a necessity so long as the United States continues doing one thing.

In a recent statement, former International Monetary Fund director and Brazilian economist Paulo Nogueira Batista Jr. discussed the fact that sanctions are driving the bloc’s actions. Batista spoke to Russian President Vladimir Putin directly and relayed the foundation of its financial actions as an alliance.

“We are not against the dollar. It is the dollar that is against us,” he said in a recent interview. “Cahellengin the dollar and the US economy would not be possible, and in any case, it’s not our objective. The BRICS will serve to make us immune to sanction.”

So long as the United States continues sanctioning nations like Russia and Iran, the BRICS bloc is unlikely to shift on its de-dollarization approaches. However, that has not stopped dissension within the group from forming.

India has recently spoken about its desire to work with the incoming Trump regime. Moreover, the president-elect stated that he has been in direct contact with China. Specifically, hinting at the country taking a similarly collaborative approach.

@ Newshounds News™

Source:  Watcher Guru

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BRICS NEWS:  BRICS MAKES HUGE ANNOUNCEMENT ON COMMON CURRENCY

The BRICS alliance is working towards the formation of a common currency for trade settlements to sideline the US dollar. Russian Deputy Foreign Minister, Sergey Ryabkov confirmed that the currency is on the table and will be a reality soon. He explained that the bloc is working on payment-clearing mechanisms, which will also include insurance systems for goods and cargo.

He stressed that the BRICS common currency is real and will be unveiled to the world becoming an alternative option to the US dollar. “Not only it exists. It is not hypothetical,” Ryabkov said during a press conference when asked if the currency is a real idea.

BRICS Common Currency Will Include Safety Features

The Russian diplomat revealed that the BRICS common currency will include a variety of options to safeguard its users. 

The safety mechanisms include: clearing mechanisms, insurance systems, and insurance for the movement of goods and cargo, among other features. Things have moved forward and a real alternative to the US dollar has emerged through the BRICS common currency.

Ryabkov said that once the BRICS common currency is launched, other developing countries will begin settling cross-border transactions with it. “Moreover, the others would join as well. This plan is now on the table and that will be implemented is not a pattern for dollar substitution in all settlements.

It is a pattern for creating an additional circuit for work in conditions when the main and well-known to all dollar channel is failing for reasons beyond the control of BRICS.”

“I would like to add: that the financial pattern as such for all its importance is not enough for the system to function properly. We also need clearing mechanisms, we are also working on them – transaction insurance systems, including insurance for the movement of goods and cargoes, which would also not depend on harmful external influences,” the Deputy Foreign Minister noted on the BRICS common currency.

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

RIPPLE WELCOMES 1.7 MILLION NEWLY MINTED RLUSD AHEAD OF BIG DEVELOPMENT

On-chain data shows that Ripple has minted big new RLUSD batch, while almost 7 million were transferred

Data shared by the Ripple Stablecoin Tracker account shows that blockchain behemoth Ripple has created another large chunk of its new product — Ripple USD stablecoin. 

This continuation of the RLUSD minting spree has taken place ahead of a major development that is expected to happen later this month.

In the meantime, the same data source has spotted that almost 7 million of these stablecoins have been transferred over the past 24 hours.

Ripple mints millions of RLUSD, 6.7 million moved Ripple Stablecoin Tracker revealed that roughly 16 hours ago, Ripple Treasury minted an impressive stablecoin chunk of 1,790,000 RLUSD.

This amount of RLUSD was created on the Ethereum chain. Previously, when the product was in a private beta, Ripple announced that it intended to use two chains for launching the stablecoin — XRP Ledger and Ethereum chain. 

On Jan. 3, as covered by U.Today, Ripple also minted a new batch of 600,000 RLUSD. After that minting took place, the aforesaid data source revealed that during the past 24 hours, approximately 6.7 million RLUSD were transferred in total.

According to the details provided by Etherscan, approximately 1.5 million were moved by major cryptocurrency exchange Bitstamp. A total of 500,000 RLUSD were transferred by Ripple. The rest of the 6.7 million RLUSD mentioned above were shoveled by anonymous whales to unidentified blockchain wallets. 

Later this month, Ripple giant is to release an attestation report, which will unveil the composition of the backing assets. So far, Ripple has issued a little less than $80 million RLUSD, having approximately $83 million in reserve to back this stablecoin. 

Ripple previously announced that its RLUSD would be audited by independent auditors and promised to release the first attestation report within 30 days of the stablecoin's public launch.

Ripple owns $100 billion in XRP and not going public In a recent interview, Ripple CEO Brad Garlinghouse revealed that the amount of XRP tokens owned by Ripple at the moment surpasses the $100 billion equivalent. He said that it was important when talking about the company valuation. The CEO believes that it is far higher than the $11 billion figure that was reported by Reuters at the start of 2024. Besides, Garlinghouse refuted speculation that Ripple intends to conduct an IPO, adding that this was never a priority.

@ Newshounds News™

Source:  U Today

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JUST-IN: US CFTC CHAIR ROSTIN BEHNAM TO DEPART ON JANUARY 20

US CFTC Chair (Commodity Futures Trading Commission) Rostin Behnam is reportedly stepping down from his role on January 20, the same date when Donald Trump will sworn in for the Presidential Chair.

▪️US CFTC Chair Rostin Behnam is reportedly stepping down from his role this month.

▪️He is scheduled to depart on January 20, the same date when US SEC Chair Gary Gensler will also step down.

▪️Although no specific reasons are confirmed, speculations soar over a potential change under Trump Administration.

Rostin Behnam, the Chair of the US CFTC, has announced to step down from his post effective January 20, 2025. Interestingly, that is when Donald Trump is scheduled to take over the US Presidential office once his inauguration concludes. While Rostin has not mentioned any specific reason behind stepping down from the post, speculations soar over a change in the horizon.

US CFTC Chair Rostin Behnam To Step Down On January 20

The US CFTC Chair Rostin Behnam is reportedly stepping down from his position on January 20. According to a Reuters report, Behnam is scheduled to exit on the same date as Trump’s inauguration. Interestingly, the US SEC Chair Gary Gensler has also announced his departure on the same date.

@ Newshounds News™

Source:  CoinGape

~~~~~~~~~

KAMALA HARRIS CERTIFIES DONALD TRUMP AS NEXT U.S. PRESIDENT, AVOIDING 2021 CHAOS

▪️Kamala Harris officially certifies Trump as 2024 U.S. presidential election winner.

▪️Unlike 2021’s chaos, this years certification process was calm and without any major issues.

▪️Former VP Mike Pence praised Harris for leading a peaceful transfer of power.

In a historic announcement, Vice President Kamala Harris officially certified the results of the 2024 U.S. presidential election. Donald Trump, who supports crypto, is now set to become the next president, with J.D. Vance as vice president. This peaceful announcement was very different from the chaos of January 6, 2021, when the Capitol faced violence during the last certification.

Harris Announces Trump’s Victory

During the certification, Harris, in her role as president of the Senate, declared Trump as the winner with 312 Electoral College votes, surpassing the required 270. She secured 226 votes.

Harris ended her statement by highlighting the importance of the constitutional process that confirmed Trump’s presidency. She said, “This announcement is a sufficient declaration of the elected president and vice president of the United States, starting their term on January 20, 2025.”

Despite losing the election to Trump, Harris maintained a composed look, fulfilling her constitutional duty in front of an energized Republican audience. Meanwhile, her announcement was met with cheers and applause from Republicans.

Previous Certifies Election, Erupted In Chaos

The last time when the U.S. Congress met to certify a presidential election, things turned violent. On January 6, 2021, a group of rioters, fueled by false claims that the 2020 election was stolen from Trump, stormed the Capitol.

They broke windows, fought with police, entered the House chamber, and damaged offices, including then-Speaker Nancy Pelosi’s.

Since that day, over 1,500 individuals have been charged for their roles in the attack. Interestingly, Trump has pledged to pardon many of them once he takes office for his second term as president.

Peaceful Transfer of Power

Unlike the 2021 certification process, which was marred by violence and delays, this year’s proceedings were orderly. Former Vice President Mike Pence, who presided over the 2021 session under immense pressure, praised the peaceful transition.

In a recent tweet post, Pence congratulated Trump and Vance, calling the peaceful transfer of power “a hallmark of our democracy.”

He also commended Harris for her role, stating, “It’s particularly admirable that Vice President Harris presided over the certification of an election she lost.”

@ Newshounds News™

Source:  Coinpedia

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FDIC PUBLISHES CRYPTO ‘PAUSE’ LETTERS INCLUDING USDF CONSORTIUM

In response to freedom of information requests by Coinbase, the Federal Deposit Insurance Corporation (FDIC) published minimally redacted letters sent to banks requesting information about their crypto activities and in most cases asking them to pause activities pending feedback. 

Last year, the FDIC’s Office of Inspector General objected that the FDIC had in most cases failed to provide feedback, leaving activities in limbo and impacting innovation.

On behalf of Coinbase, History Associates Inc asserted that the letters demonstrate the FDIC was part of “Operation Choke Point 2.0—a multi-agency effort to de-bank the digital-asset industry.” 

With one important exception, these particular letters don’t appear to support the de-banking claim. They reinforce the position of blocking banks from engaging with crypto and public blockchains.

Amongst the 25 letters disclosed, most of the banks wanted to offer their customers the ability to buy Bitcoin via their mobile banking apps. Often times, this was an indirect service to be provided by a third party.

The FDIC objects to public blockchain for USDF payments

By far the longest letter related to a planned blockchain-based fiat payment system to be operated by a consortium of banks. Despite five pages of tightly typed questions, which undoubtedly were answered, that consortium has so far only participated in Regulated Settlement Network simulations.

While the redactions removed the identities of the bank, we can confirm that the letter relates to the USDF Consortium, which originally planned to launch a payment system using a private protocol on the Provenance public blockchain.

On first reading, we suspected the letter related to USDF, because around this time the consortium shifted to a permissioned blockchain approach in a vain attempt to get approval. The use of the term ‘digital markers’ was the final confirmation, given this terminology is specific to USDF.

The letter indicates that the FDIC was interested in the roles of the non bank participants and their involvement in validating transactions. It also had questions about the use of the Hash cryptocurrency and whether banks would need to hold it, although the name ‘Hash’ was redacted.

Given this was before the launch of Fed Now, the FDIC asked the valid question about out of hours liability risks between banks for payments.

SAB 121 – custody    One of the most contentious crypto issues has been the SEC’s SAB 121 accounting rule, which prevented banks from providing cryptocurrency custody, although that certainly worked in Coinbase’s favor.

The crypto exchange has dominated custody for ETFs. While it has been claimed SAB 121 was formulated by the SEC without consulting other regulators, in many of the letters the FDIC asks for the bank’s analysis of SAB 121 and it’s applicability. This is a not-so-subtle way of saying, ‘you cannot provide custody’.

Other takeaways

Not all letters were equal. Apart from the USDF letter, there were three that stood out. One bank was being quite pushy, saying that it planned to launch crypto services on a specific date.

It had clearly provided extensive information to the FDIC already. The FDIC’s list of questions was far longer than for other banks, querying every claim the bank made, asking for evidence.

Moving on, when assessing risk, there’s the accounting concept of materiality. In other words, don’t focus on the small, irrelevant stuff. One bank spent $25,000 on an NFT. There were numerous detailed questions about this particular purchase.

Letter number 25 relates to a bank that wanted to provide deposit account services to a stablecoin but was told to wait for feedback. It is the only letter in the group that appears to block banking services. The New York-based bank first wrote to the FDIC a few days after Circle’s USDC stablecoin lost its peg in March 2023, following the collapse of Silicon Valley Bank.

@ Newshounds News™

Source:  Ledger Insights

~~~~~~~~~

JUSTIN TRUDEAU RESIGNS, PRO-CRYPTO SUCCESSOR EXPECTED

Canada’s Prime Minister steps aside, crypto rejoices.

Canada’s Prime Minister, Justin Trudeau, who has been historically anti-crypto, resigned today, citing "internal battles" in Canada's governing party.

What’s the Scoop?

▪️Political Fallout: Trudeau’s approval rating is at 22%, and polls suggest his Liberal Party would suffer a major defeat in a snap election, winning just 46 seats to the Conservative Party’s projected 225.

▪️Pro-Crypto Successor: Pierre Poilievre, expected to succeed Trudeau, is a vocal supporter of DeFi and crypto, championing Bitcoin as a hedge against inflation.

Bankless Take

Trudeau’s resignation not only marks the end of his divisive tenure but signals a potential shift in Canada’s crypto policy landscape. While his administration adopted a cautious, and occasionally aggressive stance toward cryptocurrencies, Pierre Poilievre’s pro-crypto outlook could bring a stark contrast.

 If Poilevre does becomes his successor, Trudeau’s exit would further amplify the broader global trend of favor shifting towards forward-looking, pro-tech politicians, potentially positioning Canada for greater adoption and innovation under new leadership.

@ Newshounds News™

Source:  Bankless

~~~~~~~~~

FIVE CRYPTO COMPANIES GAIN MICA LICENSES ACROSS NETHERLANDS AND MALTA

▪️MoonPay, BitStaete, ZBD, and Hidden Road received MiCA licenses from the Dutch Authority, enabling EU-wide crypto operations.

▪️The Malta Financial Services Authority (MFSA) has also licensed blockchain-based sports and entertainment platform Socios.com

▪️Tether's USDT market cap dropped $2 billion under MiCA, raising concerns though analysts claims USDT will be unfazed by EU setbacks.

@ Newshounds News™

Read more:  Be In Crypto

  ~~~~~~~~~

STABLECOIN SKEPTIC MICHAEL BARR STEPS DOWN AS FEDERAL RESERVE'S VICE CHAIR FOR SUPERVISION AHEAD OF TRUMP INAUGURATION

The Federal Reserve Board has announced that Michael S. Barr is resigning from his position as Vice Chair for Supervision.

In a statement, Barr said he didn’t want a potential dispute over the position in the near future to distract from the Fed’s “mission.”

“The position of vice chair for supervision was created after the Global Financial Crisis to create greater responsibility, transparency, and accountability for the Federal Reserve’s supervision and regulation of the financial system.

The risk of a dispute over the position could be a distraction from our mission. In the current environment, I’ve determined that I would be more effective in serving the American people from my role as governor.”

Barr’s resignation comes less than two weeks before pro-crypto President-elect Donald Trump’s inauguration.

In 2023 during a speech at the Peterson Institute for International Economics, Washington, D.C., Barr warned about the “special risks associated with stablecoins,” advocating for stiffer regulations on the asset class.

Said Barr,

“Stablecoin issuers seek to have—but don’t—some of the same characteristics as federally insured bank deposits. Stablecoin issuers represent that their liabilities can be redeemed on demand at par, a dollar for a dollar. In fact, however, the assets backing the liability can fluctuate in value… The banks we regulate, in contrast, are well protected from bank runs through a robust array of supervisory requirements.

Consider the consequences if a stablecoin not subject to appropriate supervision and regulation were to be adopted as a widespread means of payment, which some stablecoin developers state as a goal. Stablecoins have the potential to scale quickly because of network effects.

An unregulated, unsupervised, deposit-like asset could create tremendous disruptions, not just for financial institutions but for people who might rely on the coin if it were to get wide adoption.

We must learn from the past to ensure that we do not allow for new forms of unregulated private money subject to classic forms of run risk, and with the associated spillovers and systemic implications for households, businesses, and the broader economy.”

@ Newshounds News™

Source:  Daily Hodyl

~~~~~~~~~

GEMINI AGREES TO PAY $5M CFTC FINE BEFORE DONALD TRUMP’S INAUGURATION

Gemini Trust Company reaches $5 million settlement with CFTC over Bitcoin futures case, choosing to resolve litigation before the upcoming Trump administration.

▪️The closure of the Gemini case is a huge welcome to the growth during the Trump administration.

▪️The Winklevoss brothers have been consistent in the web3 space for more than 10 years, thus growing a too-tier crypto exchange.

Gemini Trust Company, a New York-based cryptocurrency exchange founded in 2014 by the Winklevoss brothers, has agreed to pay a penalty of $5 million to the United States Commodity Futures Trading Commission (CFTC) to end a long-standing litigation.

The Winklevoss brothers agreed to pay the fine in a joint court hearing on Monday to avoid a trial set to coincide with the inauguration of pro-crypto US President-elect Donald Trump.

Gemini settled the case with the US CFTC without admitting or denying any liability in the case.

In June 2022, the US CFTC filed a complaint in the US District Court for the Southern District of New York against Gemini for issuing misleading statements of material facts regarding the Bitcoin futures product.

According to the US CFTC, Gemini failed to show how it would prevent Bitcoin price manipulation to ensure fair competition for all customers in its BTC Futures Product. However, the Gemini cryptocurrency exchange has opted to end the case ahead of the expected trial on January 21, which would have kickstarted after the much-anticipated inauguration of President-elect Donald Trump.

Furthermore, Gemini cryptocurrency exchange, among other web3 companies, is banking on the upcoming Trump administration to set clearer and better crypto regulations.

Possibly, most of the crypto companies are betting on the new leaders of the US SEC chair and CFTC to drop crypto-related cases, which were orchestrated by the Biden administration.

@ Newshounds News™

Read more:  CoinSpeaker

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BRICS BRAZIL:  BRAZIL TAKES OVER THE BRICS PRESIDENCY IN 2025

Country takes the helm of the Global South political and economic cooperation forum,

Starting  January 1, 2025, Brazil officially takes the helm of BRICS, the prominent forum for political and economic cooperation among nations of the Global South.

The presidency marks a pivotal moment for the country as it seeks to advance a vision of more sustainable and inclusive global governance, foster deeper economic ties, and mobilize financing to combat climate change.

BRICS, an acronym representing Brazil, Russia, India, China, and South Africa, has recently expanded its membership to include Saudi Arabia, Egypt, the United Arab Emirates, Ethiopia, and Iran. This enlargement solidifies the group as a central platform for collaboration among developing nations,

Brazil has outlined an ambitious agenda under the theme “Strengthening Global South Cooperation for More Inclusive and Sustainable Governance.” Its presidency will prioritize two main areas: advancing Global South cooperation and reforming global governance structures.

These themes translate into five key priorities:

1. Facilitating Trade and Investment: Promoting economic integration through the development of efficient payment systems.

2. Regulating Artificial Intelligence: Encouraging inclusive and responsible AI governance for development purposes.

3. Addressing Climate Change: Enhancing financing mechanisms to support global efforts, in coordination with the COP30 climate summit.

4. Public Health Collaboration: Strengthening cooperation projects among member countries, focusing on improving public health systems.

5. Institutional Development: Bolstering the internal frameworks of BRICS to ensure effective governance and decision-making.

“If you want to build a better world, a sustainable world, BRICS has to be part of this construction. And it’s important to have an understanding among these countries, because this understanding helps achieve broader agreements [with other nations],” stated Ambassador Eduardo Saboia, Brazil’s BRICS sherpa, in an interview with Agência Brasil.

GLOBAL SOUTH COLLABORATION - The forum’s objectives extend beyond its immediate membership, aiming to enhance economic, political, and social cooperation while increasing the influence of Global South nations in international governance. 

Ambassador Saboia highlighted the importance of mutual understanding among BRICS members, noting that the group’s diversity is a strength. “These countries, with their distinct political systems and unique challenges, come together annually, fostering solutions that benefit their populations,” he emphasized.

EXTENSIVE AGENDA - As the host nation, Brazil will oversee the organization and coordination of more than 100 meetings, starting in February and continuing through July in the capital, Brasília.

These gatherings will bring together officials, policymakers, and experts to deliberate on the presidency’s priorities. 

The discussions will culminate in the BRICS Summit, scheduled tentatively for July in Rio de Janeiro, where heads of state and government will chart the bloc’s future course. Brazil’s mandate will run until December 31, 2025.

ROTATIONAL LEADERSHIP - The BRICS presidency rotates among member states in the order of the acronym, but with the inclusion of new members, the bloc is expected to revisit its rotational formula. The changes reflect BRICS’ evolving dynamics as it continues to adapt to the shifting geopolitical landscape.

@ Newshounds News™

Source:  Brazil Gov

~~~~~~~~~

BRICS NEWS: INDONESIA OFFICIALLY JOINS AS FULL MEMBER

In a move that showcases a further expansion of the economic alliance, the BRICS bloc has welcomed Indonesia as a full member. Indeed, Brazil announced that the country would be joining the collective, according to a Reuters report.

Moreover, the move takes place as the South American nations commences its opportunity to take over the groups rotating presidency for 2025.

Brazil has stated that Indonesia has been accepted after its application bid was accepted during the group’s 2023 annual summit. The Asian nation has requested its acceptance be halted amid presidential elections last year, where Prabowo Subianto was officially elected. Now, Indonesia has become the 10th member of the growing economic group.

Indonesia Officially Joins BRICS as Full Member Ahead of Crucial 2025

Over the last two years, the BRICS economic alliance has emerged as a key global economic and geopolitical presence. The group was formed through the promising potential of Brazil, Russia, India, China, and South Africa more than two decades ago. Yet, it was not until recently that it embraced its status and sought to increase its position on the world’s stage.

Another key part of that pursuit has taken place today. Indeed, the BRICS bloc has reportedly welcomed Indonesia as a full member of the growing economic alliance. The country is set to join the group after being approved for entry in 2023. Moreover, it has long sought to be included in the growth prospects being derived by the global south.

“Indonesia shares with the other members of the group support for the reform of global governance institutions and contributes positively to the deepening cooperation of the global south,” 2025 BRICS President Brazil said in a statement.

The country is joining the bloc on the precipice of an immensely important year. US President-elect Donald Trump has not been shy of its issue with the group. Earlier this year, he warned of the imposition of 100% tariffs on nations seeking to ditch the US dollar.

He specifically targeted BRICS, noting the development of their own alternative currency. Whether or not those plans will continue remains to be seen. The bloc appears to be facing increased dissension from the United States’ shift this year.

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

RIPPLE ADVOCATE DEATON STRESSES IMPORTANCE OF REGULATORY CLARITY FOR RIPPLE IN US

The CryptoLaw founder and major Ripple advocate John Deaton has shared his reflections on the Ripple CEO’s recent statement about Ripple rapidly expanding in the U.S. since early November, offering a universal solution for Ripple and other crypto companies’ growth in the U.S.

American crypto business suffers from lack of regulatory clarity: Deaton

In his tweet, John Deaton quoted Ripple chief executive Brad Garlinghouse, who said that since a pro-crypto president-elect won in early November, over the last six weeks of 2024, Ripple has signed more deals in the U.S. than during the previous half-year.

Deaton underscored that it is “impossible to estimate damage” suffered by Ripple and other cryptocurrency businesses headquartered in the U.S. due to the lack of regulatory clarity for the crypto industry. 

The Ripple advocate admitted that he has encountered many crypto businesses whose teams would say that they prefer to avoid the U.S. market and not to offer anything to U.S.-based investors.

Simple solution to many of these problems, per Deaton

The CryptoLaw founder reminded the community about the “gross government overreach and selective enforcement” that Ripple had to struggle with in court for approximately four years, defending itself against the SEC and its chairman, Gary Gensler, who is to step down from his position at the end of January.

Ripple scored two big victories, in July 2023 and then in late 2024, as it proved that XRP was not a security (on the secondary markets) and reduced the $2 billion fine demanded by the SEC down to $125 million. Deaton stressed that, aside from the issue of regulatory clarity, the cryptocurrency space also suffers from excessive regulations that “continue to stifle innovation” within the country.

The only solution to many of the issues mentioned by Deaton is the elimination of bureaucracy — of the red tape that rules in the U.S. He offered the situation with the housing shortage crisis in the country as an example, and the necessity to wait for “two years to pull necessary permits.”

Ripple advocate Deaton hopes that the new president's administration will make that happen and solve the problem at least partly — and not only for the crypto industry, causing a “ripple effect. Hopefully, we will see a Ripple effect (pun intended) throughout industries, caused by the excitement of a new administration.”

@ Newshounds News™

Source:  U Today 

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Seeds of Wisdom RV and Economic Updates Monday Morning 1-6-25

Good Morning Dinar Recaps,

RIPPLE SEC CASE: EX-SEC LAWYER AFFIRMS SETTLEMENT IN XRP LAWSUIT

Ripple SEC Case: Ex-SEC lawyer Marc Fagel claims settlement is likely in XRP lawsuit as Trump admin and Paul Atkins may decide not to pursue the appeal.

▪️Former SEC enforcement lawyer Marc Fagel says Ripple SEC case will see a settlement.

▪️He explained that settlement is require due to penalty on hold pending appeal.

▪️Lawyer Jeremy Hogan has predicted an April or May timeline for XRP lawsuit end.

▪️Ripple and XRP will get required boost under the Trump admin and incoming SEC Chair Paul Atkins.

The Ripple SEC case is in debate again as the deadline for the U.S. Securities and Exchange Commission (SEC) to file its initial brief approaches. 

A former US SEC lawyer said the parties will likely settle as ruled earlier by Judge Analisa Torres. The incoming Donald Trump administration and SEC Chair Paul Atkins may decide to not pursue the appeal in XRP lawsuit.

Ex-SEC Lawyer Says Settlement in Ripple SEC Case Most Likely

Marc Fagel, a former SEC enforcement attorney, on January 6 posts explained to the crypto community that the government agency didn’t lose, but won in part and lost in part. This requires a settlement between parties as both Ripple and SEC appealed the part they lost.

“Because both parties appealed the part of the case they lost. So the penalty is on hold pending appeal,” he added. The court ordered Ripple to pay $125 million in penalty for $700 million in unregistered securities sales to institutional investors.

Marc Fagel asserts the odds of new SEC administration deciding not to pursue the appeal is higher, which will make parties settle Ripple SEC case on what the court ruled. However, he affirmed that the SEC under Gary Gensler will file appeal by January 15.

Pro-XRP Lawyer Expect May End Timeline for XRP Lawsuit

As reported first by CoinGape Media, lawyer Jeremy Hogan has predicted an April or May timeline for the end of the Ripple SEC case. He added that the decision may not come before that as it takes a lot of time to get reports, memos, requisite SEC meetings and others.

Today, he again commented that Paul Atkins will definitely drop the appeal and settle with Ripple to end XRP lawsuit in 2025.

What’s Next Under Paul Atkins?

Experts and the crypto community believe the end of Ripple SEC case will boost the odds for XRP ETF approval. This may also trigger a rally in XRP price.

CEO Brad Garlinghouse in a post on Sunday criticized the SEC under Gary Gensler saying the actions “froze our business opportunities here at home for years.” He highlights that 75% of Ripple’s open job roles are now US-based and the company has signed new deals in the U.S. in the last six weeks.

“Team Trump is already jumpstarting innovation and job growth in the US with Scott Bessent, David Sacks, Paul Atkins and others at the helm, and they aren’t even in office yet! Say what you want, but the “Trump effect” is already making crypto great again.”

Meanwhile, analysts expect XRP price to see another rally to double-digit figures, similar to a 400% rally after Trump’s re-election.

In short-term, XRP price to consolidate at the current range for weeks and then rally towards a new all-time high, as per analyst CrediBULL Crypto. “Currently trading at around where I closed my last long. We’ve taken some liquidity above us into local supply. Currently eye-ing up the orange zone for another potential long trade,” he predicted.

@ Newshounds News™

Source:  CoinGape

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PRO-CRYPTO LAWYER JOHN DEATON OFFERS TO PROBE OPERATION CHOKEPOINT 2.0

Not investigating Operation Chokepoint 2.0 would create a dangerous precedent where regulatory bodies can suppress whoever they disfavor, Deaton stressed.

Former United States prosecutor and crypto advocate John Deaton has offered the incoming Trump administration to lead a probe into Operation Chokepoint 2.0 — an unconfirmed initiative that allegedly attempted to cut crypto companies from the traditional banking system.

“If these actions go unchallenged, it creates a dangerous precedent where regulatory bodies can quietly suppress entire industries they disfavor, stifling innovation, competition, and economic opportunity,” Deaton said in a Jan. 4 X post addressed to incoming United States President Donald Trump, Vice President JD Vance and Department of Government Efficiency leaders Elon Musk and Vivek Ramaswamy.

“This isn’t just a fight for crypto, it’s a fight against the erosion of institutional integrity and the unchecked power of unelected bureaucrats,” Deaton said in the X post, which was also addressed to Secretary of Commerce Howard Lutnik and David Sacks, who will lead Trump’s AI and crypto “czar.”

Deaton, well-known for his efforts in Ripple’s legal battle with the Securities and Exchange Commission, said he would even “accept the task without salary.”

“The American people deserve the truth a hell of a lot more than I or anyone else needs another taxpayer funded paycheck.”

His offer followed a court order allowing crypto exchange Coinbase to obtain unredacted files from the Federal Deposit Insurance Corporation to investigate their role in the unconfirmed Operation Chokepoint. 2.0 regime.

“They show a coordinated effort to stop a wide variety of crypto activity — everything from basic BTC transactions to more complex offerings,” Coinbase’s chief legal officer Paul Grewal explained after reviewing the filings.

The alleged “architect” of Operation Chokepoint 2.0, Martin Gruenberg, resigned as the FDIC Chair in November.

The regime refers to a rumored and unconfirmed US government initiative to pressure banks into refusing or limiting services to crypto firms, which possibly caused crypto exchanges like Binance to be without a local banking partner after Silvergate and Signature Bank both collapsed in March 2023.

Deaton’s new endeavor comes after he lost a Massachusetts Senate seat to Democrat Senator Elizabeth Warren in the US election on Nov. 5.

The landslide victory in Warren’s favor came before two heated senate debates where Deaton called out Warren for building an “anti-crypto army” instead of prioritizing issues impacting the lower and middle class in the state.

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

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