Seeds of Wisdom RV and Economic Updates Sunday Afternoon 1-19-25

Good Afternoon Dinar Recaps,

INSIDE TRUMP’S CRYPTO VISION: NATIONAL BITCOIN RESERVE AND EXECUTIVE ORDER IN THE WORKS

President-elect Donald Trump is considering issuing an executive order that makes cryptocurrency a national priority.

President-elect Donald Trump is considering issuing an executive order that makes cryptocurrency a national priority in his return to the White House, Bloomberg said Thursday, noting sources with insights into the plans.

The planned designation would encourage federal agencies to engage with the cryptocurrency industry, which has grown as one of major issues over the latest presidential cycle.

One of the most noteworthy points reportedly under discussion is the review of digital asset policies and potentially suspension of legal actions targeting high-profile companies like Coinbase and Ripple.

Trump is Here…

Under the current administration, the Securities and Exchange Commission (SEC), a key regulatory body for the crypto industry, has initiated over 100 enforcement actions against digital asset firms in the US.

These actions come despite ambiguous regulatory frameworks, prompting several companies to exit the market. The industry sees halting these legal actions as a top priority, as ongoing litigation has caused uncertainty and challenges for those operating in the crypto space.

According to a recent report from Reuters, the SEC is likely to review and possibly freeze litigation involving crypto firms that does not include fraud allegations following Trump’s inauguration.

The change, which may come with the expected leadership overhaul at the SEC, potentially affects existing securities law violation cases against crypto companies.

The executive order will also likely order the establishment of a crypto advisory council, a Trump-proposed body dedicated to advising the administration on crypto-related policy matters. The council is aimed at giving industry insiders a platform to voice their concerns, priorities, and recommendations directly to policymakers.

Trump’s team has been in discussions with crypto executives to shape these policies. David Sacks, appointed as Trump’s AI and crypto czar, has reportedly been working closely with industry leaders to develop a legislative agenda for the industry.

Nation Bitcoin Reserve Proposal under Consideration

One of the most anticipated proposals under discussion is the establishment of a US Bitcoin reserve, which may be included in the executive order on day one. Trump has pledged to create a national Bitcoin stockpile if elected.

While it’s still unclear how a Bitcoin reserve under Trump would look like, experts caution that implementing it through an executive order does not assure its lasting existence.

According to the New York Digital Investment Group (NYDIG), a Bitcoin reserve established through legislative action, like the BITCOIN Act, would have a better chance of enduring beyond any single administration, though the process to make it law could be lengthy.

The US government currently holds 198,109 BTC seized from the notorious Silk Road crackdown. At a current price of $101,000, the Bitcoin stash is worth over $20 billion. If Trump proceeds with the Bitcoin reserve plan, the Bitcoin holdings would be added to the strategic asset for the nation.

Advocates believe that establishing a Bitcoin reserve could alleviate national debt and enhance America’s economic position if cryptocurrencies gain global prominence.

Altcoin Reserve Speculation

The New York Post reported Thursday that there may be more than just a Bitcoin national stockpile.

Trump has held several meetings with industry leaders and project founders since his election victory. The President-elect is reported to have been “receptive” to the concept of making a strategic reserve that incorporates the U.S.-originated altcoins like Solana (SOL), Ripple (XRP), and USD Coin (USDC).

Companies behind these projects have yet to comment on this matter, but crypto figures and community members see the altcoin reserve as a step back. David Bailey, BTC Inc CEO, outright rejects the idea as “fake news” and labels XRP “Kamala coin.”

Almeida, co-founder of Orquestra, expresses strong disappointment, suggesting that the move would severely damage the credibility of whoever made the decision, while Mike Dudas, The Block’s co-founder, says the idea is incredibly foolish and disastrous.

@ Newshounds News™

Source:  Blockonomi

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CRYPTO.COM EXCHANGE SECURES ‘IN-PRINCIPLE’ MICA LICENSE, PAVING THE WAY FOR FULL EUROPEAN UNION APPROVAL

The Singapore-based exchange Crypto.com has secured an “in-principle” license to operate under the European Union’s new digital asset regulatory framework.

Crypto.com bills itself as the “first major global crypto asset service provider” to receive a Markets in Crypto Assets (MiCA) approval.

MiCA is new EU legislation that establishes rules covering the supervision, consumer protection and environmental safeguards of crypto assets.

The regulatory framework, which took effect in December, includes measures that aim to reduce financial crimes including market manipulation, money laundering and terrorist financing. It also places stablecoin issuers under the European Banking Authority and requires them to hold sufficient liquid reserves.

The in-principle license paves the way for full regulatory approval, which would enable Crypto.com to provide a full range of digital asset services across the EU.

Eric Anziani, the exchange’s president and chief operating officer, says the EU is “a growing and vital hub for crypto investment.”

“We have always been fully supportive of MiCA and strongly believe it will bring clarity, transparency, and establish a more streamlined sentiment towards the regulation of our industry across the EU, all of which adds to the building confidence in the crypto sector.”

The exchange also continues to expand its services in North America: Last month, Crypto.com announced plans to offer custody services for high-net-worth individuals and institutions in the US and Canada.

@ Newshounds News™

Source:  DailyHodl

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XRP LAWSUIT NEWS: RIPPLE’S FIGHT WITH SEC FACES NEW TWIST AS TRUMP PROMOTES MEME COIN

As President-elect Donald Trump prepares to take office on Monday as the 47th president of the United States, he has made a surprising move by launching his own cryptocurrency, the $TRUMP coin.

Despite his previous hesitations about cryptocurrency, Trump had expressed his belief that America would become “the crypto capital of the planet” once he returned to Washington.

The timing of the launch has raised some eyebrows. Critics have accused Trump of capitalizing on his imminent presidency to profit from the popularity of cryptocurrencies, particularly meme coins.

However, some experts are focusing on how this move could have an impact on ongoing legal battles in the crypto space, particularly the high-profile lawsuit between Ripple Labs and the U.S. Securities and Exchange Commission (SEC).

Ripple Lawsuit: Could Trump’s $TRUMP Coin Affect the Case?

Attorney Bill Morgan recently discussed the implications of Trump’s actions on the Ripple lawsuit. Morgan pointed out that the appeal of Judge Torres’ finding against Ripple’s fair notice defense is now looking more promising.

For context, the SEC has been pursuing legal action against Ripple, claiming that the company’s sale of XRP violated securities laws. However, Ripple argues that it had no clear notice that its sales of XRP were subject to SEC registration requirements.

Morgan drew attention to Trump’s stance on the issue of cryptocurrencies and investment contracts. While Trump has issued and promoted the $TRUMP meme coin, he does not believe that such tokens should be classified as investment contracts that require SEC registration.

This is a key issue in the Ripple lawsuit, where the SEC argues that XRP should be treated as a security, while Ripple maintains that it is a digital asset.

Given that Trump has issued a speculative meme coin without adhering to the traditional regulatory frameworks that the SEC enforces on other tokens, Morgan questioned how the SEC v. Ripple case could continue under these circumstances. He said that Ripple’s sales of XRP, like the promotion of $TRUMP, did not involve any post-sale obligations, which is a point of contention in the Ripple case.

@ Newshounds News™

Source:  Coinpedia

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BRICS NEWS: 2 COUNTRIES READY TO DITCH SWIFT AND LAUNCH NEW PAYMENT SYSTEM

BRICS members Russia and Iran want to abandon the Western-dominated payment messaging system SWIFT. The two countries aim to launch a new payment system as an alternative to the SWIFT mechanism. The sanctioned nations are working towards the formation of a new payment system that will completely get rid of the US dollar for cross-border trade and transactions.

SWIFT is controlled by the US making BRICS and other developing countries use the messaging system for financial transactions. The US dollar, Euro, and Pound are the most used currency for settlements around the world. Ending reliance on SWIFT will strengthen local currencies and become the de facto currency for trade.

BRICS: Russia & Iran Ready To Ditch SWIFT After Launching New Payment System

Russia is working closely with its BRICS counterpart Iran to ditch SWIFT and launch a new payment system for transactions.

Details on the formation of the payment mechanism are kept under wraps by the two nations. The work on the financial messaging channel remains confidential until further notice from Russia and Iran.

“The situation in banking and currency cooperation has significantly improved. At the moment, we are working on a confidential financial messaging channel to completely get rid of SWIFT.

 can call 2025 the year in which financial issues in Russian-Iranian relations will be resolved,” said Iranian Ambassador to Russia Kazem Jalali. Other BRICS countries could begin using the new payment system and end their dependency on SWIFT.

The development could usher into a new financial era between Russia and Iran and ditch the Western-dominated payment systems. The BRICS alliance could end up creating an alternative to SWIFT and convince other developing countries to use it. The US dollar will be the hardest-hit currency when the development plays out.

@ Newshounds News™

Source:  Watcher Guru

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Seeds of Wisdom RV and Economic Updates Sunday Morning 1-19-25

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SENATOR INTRODUCES BILL TO CEMENT TEXAS AS THE FIRST STATE WITH A BITCOIN RESERVE

Texas aims to lead the digital revolution with a groundbreaking “Strategic Bitcoin Reserve Act,” securing economic resilience and innovation through state-managed bitcoin integration.

Texas Proposes Strategic Bitcoin Reserve to Revolutionize State Finances

Texas State Senator Charles Schwertner has introduced Senate Bill 778, known as the “Texas Strategic Bitcoin Reserve Act,” to establish a state-managed bitcoin reserve. Schwertner emphasized the significance of this initiative on social media platform X on Jan. 15, stating:

It’s time for Texas to lead the way in establishing a Strategic Bitcoin Reserve. That’s why I filed SB 778, which, if passed and signed into law, would make Texas the first state in the nation to establish a Strategic Bitcoin Reserve.

“This would position our state at the forefront of the digital economy, driving growth and securing economic freedom for our great state!” he added.

The bill outlines measures for the secure management of bitcoin within the state treasury, administered by the Texas Comptroller. Provisions include the use of “cold storage” for secure custody, regular audits, and policies ensuring transparency and best practices in digital asset management. Residents and organizations would be allowed to donate bitcoin to the reserve, with acknowledgment certificates available for contributors. 

The legislation highlights bitcoin’s potential to hedge against inflation, strengthen financial resilience, and foster innovation in digital finance. Regular reporting would keep the public informed of the reserve’s status and performance.

If enacted, the Texas Strategic Bitcoin Reserve Act would position the state as a leader in the digital economy. The bill also establishes protocols for bitcoin transactions, limiting them to emergency or legislative-approved scenarios to maintain oversight and accountability.

An advisory committee would provide recommendations on the reserve’s operations and security.

Senator Schwertner’s initiative underscores Texas’s vision of promoting economic freedom and growth through strategic digital asset integration. The act will take effect immediately with a two-thirds legislative vote or on Sept. 1 otherwise.

The push for state-level bitcoin reserves comes amid a broader trend of legislative interest in digital assets. President-elect Donald Trump has floated the idea of a national strategic bitcoin reserve, suggesting its potential to enhance U.S. financial leadership. Similarly, U.S. Senator Cynthia Lummis has proposed legislation to establish a strategic bitcoin reserve.

@ Newshounds News™

Source:  Bitcoin News

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WYOMING AND MASSACHUSETTS JOIN GROWING LIST OF STATES CONSIDERING BITCOIN RESERVES

State Bitcoin reserve momentum is still growing, while Coinbase backed the idea of a federal BTC stockpile for the first time publicly.

Wyoming and Massachusetts have joined the expanding number of U.S. states that may soon vote on establishing Bitcoin reserves, with representatives from both states submitting draft legislation supporting the initiative on Friday.

In Wyoming, a group of five Republican legislators submitted a bill that would permit the state treasurer to invest public funds in Bitcoin, but no other digital assets.

In recent weeks, other states have put forth slightly more permissive bills, which would in some cases allow states to invest in stablecoins and other cryptocurrencies that surpassed $500 billion in market capitalization—though as of this writing, Bitcoin is the only asset that meets that requirement.

Wyoming’s bill is also more restrictive in another regard: It would only permit its treasurer to invest 3% of a given state fund in Bitcoin. Proposed legislation in other states, such as Pennsylvania and Oklahoma, would allow for investments in digital assets to make up 10% of similar public funds.

Meanwhile, in deep blue Massachusetts, a lone Republican state senator proposed a bill on Friday proposing the establishment of a Bitcoin strategic reserve. 

That act, submitted by Peter Durant, is more permissive than Wyoming’s, and would allow for up to 10% of Massachusetts’ rainy day fund to be comprised of Bitcoin or any manner of digital asset.  

At this point, nearly one-fifth of all U.S. state legislatures are poised to soon formally weigh whether to invest public funds in Bitcoin and other cryptocurrencies. Every such proposal has been submitted in the aftermath of Donald Trump’s re-election in November, by Republicans.

Trump, long a crypto skeptic, abruptly changed tack on the campaign trail this year after being a noted Bitcoin critic in the past. In July, onstage at a Bitcoin conference in Nashville, he called for the federal government to establish its own Bitcoin stockpile.

The chorus for such initiatives is rapidly gaining momentum. On Friday afternoon, Coinbase CEO Brian Armstrong publicly called for the creation of a U.S. Bitcoin strategic reserve for the first time.

“The next global arms race will be in the digital economy, not space,” Armstrong said in a company blog post. “Bitcoin could be as foundational to the global economy as gold and will become central to national security in a world where holdings of Bitcoin can shift the balance of power among nation states.”

@ Newshounds News™

Source:  Decrypt

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DORA REGULATIONS KICK IN: A NEW ERA FOR CRYPTO IN THE EU

Cryptocurrency firms operating in member states of the European Union will be required to beef up their cybersecurity and risk management as the economic bloc implements a new regulation.

EU authorities recently announced that the Digital Operational Resilience Act (DORA) took effect on January 17, a comprehensive and harmonized regional regulatory framework that will govern the digital operational resilience of financial institutions and crypto firms in member nations.

The New Regulation

EU authorities consider the DORA policy as a crucial step to enhance the digital operational resilience framework of financial institutions operating in the countries that are part of the regional bloc, saying that the new regulation aims to address the inconsistencies and gaps in the cyber risk management within the bloc.

The DORA regulation does not only apply to financial institutions and banks because it also covers crypto-asset service providers, insurance companies, investment firms, and management companies.

Cryptocurrency businesses in the European Union are subject to new cybersecurity regulations as DORA takes effect on January 17.

How Will It Impact VASP?

Analysts see that the cybersecurity and resilience practices of virtual asset service providers (VASP) in the European bloc will be greatly affected by the imposition of DORA.

Legal intelligence JD Supra stated that one of the provisions under the new EU rule is developing and reviewing ICT third-party risk management strategies such as having mandatory provisions in contracts with ICT service providers and “a registry of information documenting all existing contractual arrangements.”

This DORA provision would affect VASPs in the region because financial entities in the EU will be compelled to have a comprehensive register of their contractual arrangements with third-party IT service providers.

An official of the crypto exchange Gemini believes that DORA is essential to improve the financial sector’s operational resilience against ICT-related risks.

“In readiness for DORA, we have implemented a Digital Operational Resilience Strategy, an ICT risk management framework, ensured clear governance structures, and adopted best practices to ensure the continuity, security and resilience of our services,” Gemini head of Europe Mark Jennings explained.

Expanding MiCA Rule

Crypto analysts said that the new EU regulation is seen to expand the Markets in Crypto-Assets Regulation (MiCA), saying that the goal of DORA is to enhance the resiliency of crypto firms against disruptions and cyberattacks, protecting investors and boosting market integrity.

An executive of the crypto infrastructure firm MoonPay said that the new regulation would have a considerable impact on MiCA-licensed crypto companies.

“All crypto asset service providers licensed under MiCA are subject to the DORA requirements,” MoonPay’s deputy general counsel and head of Ireland Matt Sullivan said.

Sullivan revealed that their crypto infrastructure firm is already taking steps to become a DORA complaint entity. MoonPay got its MiCA license from the Dutch Authority for the Financial Market only last December 30, 2024.

A Challenge To Small Service Providers

Wormhole Foundation general counsel Cathy Yoon said that VASPs can deal with the provisions of DORA and have more likely implemented strict cybersecurity measures to maintain their compliance with the new regulation.

However, Yoon worried that startups and smaller service providers might find it difficult to get their DORA compliance.

“Taking a proactive approach to security and building out cybersecurity measures in line with DORA may have significant implications for smaller service providers, especially startups with limited capital to comply with DORA,” Yoon said.

@ Newshounds News™

Source:  Bitcoinist

~~~~~~~~~

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Seeds of Wisdom RV and Economic Updates Saturday Afternoon 1-18-25

Good Afternoon Dinar Recaps,

RIPPLE EXEC MAKES BOLD 2025 STABLECOIN PREDICTION: DETAI

Jack McDonald, SVP of Stablecoin at Ripple, has made a bold prediction for the stablecoin market, declaring 2025 as "the year of the stablecoin." McDonald stated that as U.S. regulation advances, the stablecoin market will benefit from clearer guidelines and standards. 

This regulatory clarity is expected to foster greater trust, paving the way for broader adoption. The Ripple SVP expressed optimism that Ripple and its stablecoin, RLUSD, are well-positioned to lead the charge in this new era.

2025 is the year of the stablecoin. As US regulation advances, standards will evolve, innovation will expand & real utility will take off. Ripple and RLUSD are ready to lead the charge," McDonald wrote in a recent tweet.

The stablecoin supply is increasing — currently boasting a market cap of nearly $216 billion and with projections of nearly $3 trillion within the next five years.

Ripple expands its horizons

While Ripple's enterprise blockchain solutions have grown to support a larger range of financial use cases, such as asset tokenization and custody, cross-border payments were the company's first application of blockchain technology.

Ripple Payments has processed more than $70 billion in payments to date, and the introduction of RLUSD adds another blockchain-powered payment option for cross-border transactions.

@ Newshounds News™

Source:  U Today

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$111,000,000,000 IN UNREALIZED LOSSES COULD HIT BANK OF AMERICA AS 10-YEAR TREASURY YIELD MOVES HIGHER: REPORT

Unrealized losses on Bank of America’s balance sheet are ballooning amid rising bond yields, according to a new report.

Bank of America’s unrealized losses on mostly US agency mortgage-backed securities could jump to $111 billion in the fourth quarter of 2024, an increase of 29% from the previous quarter, reports Barron’s.

Bank of America’s held-to-maturity assets stood at $568 billion as of the third quarter of 2024, according to a regulatory filing, including an unrealized loss of $86 billion at the time.

The bank’s unrealized losses continue to widen as the yield on 10-year US treasuries nears 5%.

And most of Bank of America’s held-to-maturity debt securities are comprised of agency mortgage-backed securities, which are witnessing similarly rising yields.

BofA’s unrealized bond losses are the highest in the industry. By comparison, the nation’s largest bank JPMorgan Chase has about $20 billion in unrealized losses as of Q3 2024.

In its Quarterly Banking Profile report issued in December, the Federal Deposit Insurance Corporation (FDIC) said the number of US lenders on its “Problem Bank List” rose to 68 in Q3, with total unrealized losses at all major banks standing at $364 billion.

@ Newshounds News™

Source:  DailyHodl

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BRICS: ANALYST CALLS US DOLLAR ‘GROSSLY OVERVALUED’ & HERE’S WHY

The last two years have seen the global south orchestrate its very own de-dollarization initiative. Seeking to promote local currencies, was a way to combat the growing influence the West had on global finance. Although the greenback has maintained much of its strength amid BRICS action, one analyst has called the US dollar “grossly overvalued.”

The sentiment is tied to the overwhelming influence that the US dollar maintains. Currently, the state of Mississippi, the poorest state in the country, is richer per capita than either the United Kingdom or Japan. Although the reason for this reality can be debated, one economist notes it is likely due to the overwhelming overvaluation of the currency.

US Dollar Called ‘Overvalued’ by Economist: Can That Push BRICS De-Dollarization?

2025 was always set to be a vital year for the BRICS alliance. With US President-elect Donald Trump returning to the White House, things are bound to change. The alliance has struggled with ongoing Western sanctions and answered with their own de-dollarization efforts. Yet, the returning President, unlike his predecessor, appears less enthused to sit by and allow such efforts to take place.

To this point, those efforts have failed. Indeed, Trump’s return has pushed the world’s global reserve currency to tremendous heights. Yet, the reason for that has recently come into question. Amid BRICS opposition, one analyst has called the US dollar “grossly overvalued” in a recent report.

“The poorest state in the US—Mississippi—has a per capita dollar income that is higher than those of the UK, France, Italy, and Japan and is only slightly lower than Germany,” Stephen Jen of Eurizon SLJ said in a Financial Times piece.

“Does this make sense to you?” Jen added. “To us, this is another proof that the dollar is grossly overvalued, inflated in part due to the supersized fiscal program.” There is evidence for the claim throughout the US economy. Indeed, the report notes that many SU gas station managers earn more than European doctors.

Ultimately, Jen notes that the “US fiscal posture is unsustainable.” Indeed, it is going to require a massive initiative to bring down its deficit, or major problems will soon arise. The question is, can Trump and his incoming DOGE commission handle such a lofty task? However, what does this reality mean for the budding BRICS alliance?

@ Newshounds News™

Source:  Watcher Guru

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ECB IS LOOKING FORWARD TO 2025 WITH THE DEVELOPMENT OF THE DIGITAL EURO AND THE ACCOMPANYING EU LEGISLATION

Christine Lagarde, President of the European Central Bank (“ECB”), is expecting European legislation for the digital euro. According to her, the European Commission will propose legislation for establishing a digital euro in the near future.

“We are in the preparation phase and we are expecting European legislation,” she said in her New Year’s message.

On the first day of the new year, Lagarde posted a video message announcing that the development of the European Union’s central bank digital currency (“CBDC”) – the digital euro – was in phase 2 and the ECB is “expecting legislation.”  

“Another significant development on the horizon is our digital euro. We are in the preparation phase and we are expecting European legislation,” she said. “Once that is done, we will decide whether we move forward with developing a digital form of cash.”

Lagarde wished those who watched her video a “very, very great start to 2025.” Well, the ECB’s aspirations, as she described them, begin the year on a very, very bad note and in wishing Europeans well she is speaking with a forked tongue.  Take for example the two blatant lies Lagarde told in her message.

Firstly, they would not be legislating for a digital euro if they were not intending to “move forward” with the agenda.  So, it’s not a case of deciding “whether” to move forward but rather the decision has already been made.

Secondly, CBDCs are not a “digital form of cash.”  They are tokens which can be programmed to be used only for certain items or services and to expire – much like a gift voucher system which retailers use. 

Vouchers are for a specific amount to be used on specific items or in specific retailers and expire within a specified time; the retailer’s rules and conditions apply.  It is because of the programmable and centralised nature of CBDCs that they will be used to control who can buy or sell what, when and where; the central bank’s rules and conditions will apply.

Do You Trust Christine Lagarde?  If So, You Shouldn’t

Read more at link below to hear her video and find out who she is:
Convicted Criminal and Eugenicist and Depopulationist.

@ Newshounds News™

Source:  Expose News

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Seeds of Wisdom RV and Economic Updates Saturday Morning 1-18-25

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BORROW WITHOUT SELLING: A LOOK AT COINBASE’S NEW BITCOIN LENDING SOLUTION

Coinbase has partnered with Morpho to launch a Bitcoin-collateralized USDC lending service on Base blockchain, allowing US users to borrow up to $100,000 without selling their Bitcoin.

▪️Coinbase and Morpho have partnered to offer Bitcoin-backed USDC loans up to $100,000 on the Base blockchain, with Bitcoin automatically converted to cbBTC as collateral

▪️The service is currently available to US customers (except NY state), with plans for global expansion, particularly targeting the EU market

▪️Interest rates are variable and determined by Morpho’s market-driven mechanism, with no fixed repayment schedule

▪️Loans are positioned as a tax-efficient alternative to selling Bitcoin, allowing users to maintain their crypto holdings while accessing liquidity

▪️The service has drawn mixed reactions, with critics raising concerns about centralization risks, auto-liquidation during price drops, and variable interest rates

Coinbase, a leading cryptocurrency exchange, has launched a new lending service that allows users to borrow USD Coin (USDC) using their Bitcoin as collateral.

The program, announced on January 16, 2025, emerges from a partnership with Morpho, a decentralized money market protocol, and operates on Coinbase’s layer-2 blockchain platform, Base.

The new service enables users to borrow up to $100,000 in USDC while retaining ownership of their Bitcoin. When users pledge their Bitcoin as collateral, it is automatically converted to Coinbase Wrapped Bitcoin (cbBTC) at a one-to-one ratio before being transferred to Morpho’s smart contracts.

Currently, the service is available to United States residents, except for those in New York State. Coinbase has indicated plans for international expansion, with the European Union marked as a likely next target market due to the alignment of USDC with MiCA regulations.

The lending process operates without a fixed repayment schedule, offering flexibility to borrowers. Interest rates are not fixed but instead fluctuate based on Morpho’s market-driven mechanism, which automatically adjusts rates according to market conditions.

One key feature of the service is its potential tax benefits. By borrowing against Bitcoin rather than selling it, users may be able to defer capital gains or losses, making it an attractive option for those seeking liquidity without triggering taxable events.

The borrowed USDC can be converted to US dollars without fees, opening up possibilities for various uses, including major purchases like cars or mortgage down payments. Users can also earn over 4% in rewards on their USDC and send it globally without additional costs.

Morpho’s involvement in the partnership brings substantial credibility to the program. The protocol has grown to become the 12th-largest decentralized application by total value locked, managing over $3.2 billion in 2024, representing a 444% increase in activity.

The introduction of this service follows Coinbase’s launch of cbBTC in September. Since its inception, cbBTC has accumulated a supply worth $2.1 billion, equivalent to 21,495.46 BTC, according to Dune Analytics data created by user eekeyguy.

Mixed Reception

The community response to the new lending service has been mixed.

While some users appreciate the additional financial flexibility, others have raised concerns about potential risks. Critics have pointed out the dangers of auto-liquidation during market downturns, where borrowers could lose their collateral if Bitcoin’s value falls below certain thresholds.

Several users have expressed wariness about centralization aspects of the service. The involvement of Coinbase as an intermediary and the use of wrapped Bitcoin (cbBTC) has led some DeFi purists to question whether the service aligns with decentralization principles.

The variable interest rate structure has also drawn attention. Rates are recalculated frequently, which could create uncertainty for borrowers trying to plan their finances. Some community members argue this variability might make the service less attractive for long-term borrowing.

Technical aspects of the implementation have come under scrutiny. The conversion of Bitcoin to cbBTC and its deployment through Ethereum-based DeFi protocols has raised questions about complexity and potential risks in the loan structure.

For monitoring purposes, users must keep track of their loan-to-value ratio to avoid liquidation events. This requirement places additional responsibility on borrowers to actively manage their positions, particularly during periods of market volatility.

@ Newshounds News™

Source:  Blockonomi

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SEC LAWSUITS THREATEN TO DELAY SOLANA ETFS IN U.S. UNTIL 2026

▪️James Seyffart, an analyst from Bloomberg Intelligence, mentioned that the U.S. SEC review process takes 240-260 days, which could delay the Solana ETF timeline until 2026.

▪️Five firms, including Grayscale, Bitwise, and VanEck, have applied for Solana ETFs, and the SEC is expected to make an initial decision on these applications within 45 days.

The approval of Bitcoin (BTC) and Ethereum (ETH) Exchange-Traded Funds (ETFs) in 2024 sparked excitement in the cryptocurrency industry, signaling growing institutional acceptance. 

However, amid this wave of enthusiasm, the spotlight now shifts to Solana (SOL) as five firms, Grayscale, Bitwise, VanEck, 21Shares, and Canary Capital, have submitted applications for spot Solana ETFs. As of now, these applications have yet to receive any official attention from the U.S. Securities and Exchange Commission (SEC).

In a January 16 interview, James Seyffart, an analyst at Bloomberg Intelligence, weighed in on the Solana ETF situation. Seyffart noted that while movements for a Solana ETF could gain momentum after Donald Trump takes office, the SEC’s prolonged review process might push the approval timeline into 2026. The SEC takes 240-260 days to review ETF filings, creating additional uncertainty around the potential launch.

These ETF applications have essentially been “denied outright” without acknowledgment, as per Seyffart’s comments. Despite the lack of progress on Solana ETFs, other cryptocurrency ETFs, such as those for XRP, continue to face regulatory hurdles.

A Shift in Regulatory Tone with Trump’s Inauguration

Seyffart pointed out that the approval process is complicated by ongoing lawsuits from the SEC against cryptocurrency exchanges. During Gensler’s 4 year tenure as SEC Chair, over 80 enforcement actions were taken, including lawsuits against major firms like Coinbase and Binance, primarily for violations related to unregistered tokens and unregistered exchange operations.

The departure of Gary Gensler on January 20, marks a significant shift in regulatory tone. Gensler’s leadership has been a point of contention within the crypto industry, and his exit is seen as an opportunity for change and crypto-friendly regulations. 

Trump has nominated Paul Atkins, a pro-crypto candidate, and a former SEC commissioner, to head the SEC. Reports also suggest that the SEC might suspend or dismiss pending cryptocurrency cases that do not involve fraudulent activities.

In 2024, several firms, Bitwise, WisdomTree, and 21Shares, pushed for approval of an XRP ETF, though no firm decisions have been made by the SEC on these filings.

This highlights the broader regulatory challenges that crypto assets continue to face in the U.S., with approval timelines for multiple ETFs remaining stalled.

On a more optimistic note, Eric Balchunas, a senior ETF analyst at Bloomberg, expressed hope for the potential approval of a Litecoin (LTC) ETF in the U.S. He believes that Litecoin has a strong chance of becoming the next spot cryptocurrency ETF to gain approval, signaling that other altcoins might eventually follow suit.  

While hopes for a Solana ETF have faded, Solana’s value has seen a notable increase, rising by 16.82% in the past week and by 4.81% in the last 24 hours, bringing its price to $220.

@ Newshounds News™

Source:  Crypto News Flash

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Seeds of Wisdom RV and Economic Updates Friday Morning 1-17-25

 Good Morning Dinar Recaps,

BRICS: CHINA INTERESTED IN BUYING VOLKSWAGEN, GERMAN CARS

According to a Reuters report, BRICS member China is interested in buying various struggling German car factories, including Volkswagen. Volkswagen is one of several German automakers that is winding down production amid worries of closure.

However, China is reportedly interested in buying these factories for a foothold in Germany, a source close to Chinese government thinking told Reuters.

Buying the Volkswagen factory would allow China to build influence in Germany’s prized auto industry, home to some of the oldest and most prestigious car brands, the source says. Volkswagen is one of the most prominent companies in Germany: a signal of its industrial growth over the last century.

However, with an ongoing global economic slowdown, the country’s industrial companies are struggling. The move would be a huge one for China, allowing it to avoid EU tariffs by building cars in Germany for sale in Europe.

Furthermore, the move could pose a further threat to European manufacturers’ competitiveness, while putting China and BRICS in a higher position. Chinese companies have invested across a range of industries in Europe’s biggest economy already, from telecommunications to robotics. However, the move to buy Volkswagen and other German automakers would be the country’s first step into European auto companies.

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

SEN. CYNTHIA LUMMIS ACCUSES FDIC OF CRYPTO OVERSIGHT MISCONDUCT, DEMANDS ACCOUNTABILITY

Lummis cited whistleblower claims the FDIC destroyed documents and silenced staff during a crypto oversight probe, sparking industry outrage.

U.S. Senator Cynthia Lummis (R-WY) has issued a scathing rebuke of the Federal Deposit Insurance Corporation (FDIC), alleging misconduct in the agency’s handling of digital asset oversight and threatening whistleblowers.

On Thursday, Lummis sent a letter to FDIC Chair Marty Gruenberg after whistleblowers alleged that the agency destroyed materials related to its crypto-related operations and threatened employees to silence them.

“The FDIC’s alleged actions are unacceptable and illegal,” Lummis wrote in her letter. The Senator has vowed to pursue the truth behind these allegations, calling for accountability from federal agencies involved in the oversight.

“The American people deserve transparency, and I will see to it that they get the answers they deserve,” Lummis wrote in a statement on Thursday.

The FDIC did not immediately respond to Decrypt's request for comment.

The allegations center on "Operation Chokepoint 2.0," a purported initiative to marginalize crypto firms by cutting off their access to banking services.

Whistleblowers reportedly told Lummis that the FDIC monitored staff access to sensitive materials to prevent Senate disclosures.

“The FDIC is attempting to hide Operation Chokepoint 2.0, and the FDIC must preserve all documents related to digital assets immediately,” Lummis wrote on X (formerly Twitter). “Tim Scott and I will get to the bottom of it.”

Tim Scott was sworn in as Senate Banking Committee chair after his predecessor, anti-crypto politician Sherrod Brown, lost to Bernie Moreno in the 2024 US. elections.

Lummis has instructed the FDIC to preserve all records related to its digital asset activities since January 2022 in her letter.

The senator detailed specific categories of documents to preserve, including communications about Signature Bank, Silvergate Bank, and crypto-related enforcement actions.

Lummis also demanded the preservation of all records tied to FDIC guidance and coordination with other federal banking agencies on digital assets.

The politician warned of criminal referrals to the Department of Justice if its found the FDIC “obstructed Senate oversight” and “knowingly destroyed materials.”

Operation Chokepoint 2.0: Allegations of Crypto Industry Targeting

Operation Chokepoint 2.0 mirrors an Obama-era undertaking, which targeted industries such as firearms dealers and payday lenders by pressuring banks to sever ties with these businesses.

Industry advocates claim this newer iteration focuses squarely on crypto, employing similar tactics to marginalize an entire sector through backdoor regulatory measures.

Last month, documents obtained via a Freedom of Information Act (FOIA) request by Coinbase revealed the FDIC directed banks to “pause all crypto asset-related activity” in 2022.

Crypto leaders such as Coinbase CEO Brian Armstrong and Custodia Bank CEO Caitlin Long have shared personal accounts of “debanking,” where financial services were abruptly withdrawn without reason.

Earlier this month, pro-crypto attorney John Deaton called Operation Chokepoint 2.0 a clear example of regulatory overreach driven by political motives rather than sound policy.

“This isn’t just a fight for crypto,” Deaton warned at the time. “It’s a fight against the erosion of institutional integrity and the unchecked power of unelected bureaucrats.”

@ Newshounds News™

Source:  Decrypt

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Seeds of Wisdom RV and Economic Updates Thursday Evening 1-16-25

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DONALD TRUMP TO DESIGNATE CRYPTOCURRENCY AS A NATIONAL PRIORITY

President-elect Donald Trump plans to make cryptocurrency a “National Priority” policy upon his inauguration, according to a Bloomberg report. The incoming administration also plans on creating a crypto advisory council, giving industry insiders a voice within his administration.

The incoming president has been a strong supporter of the crypto industry since his campaign, and experts in the industry expect that to continue upon his inauguration.

Many experts expect Trump to issue executive orders on the first day of his presidency that may address issues relating to cryptocurrency. 

Among these issues include de-banking and the repeal of a controversial crypto accounting policy requiring banks holding digital assets to count them as liabilities on the bank’s own balance sheet.

Donald Trump Further Prioritizes Cryptocurrency Sector

Trump’s plan to make the crypto sector a “national priority” is the most explicit sign yet that he sees the industry as crucial to the US economy. Still under discussion for inclusion in the executive order is a directive for all government agencies to review policies about digital assets and possibly pause any litigation involving crypto, according to Bloomberg sources.

Another big part of the order may be the establishment of a Bitcoin reserve. Donald Trump is supportive of establishing this reserve with seized Bitcoin to give the country an alternative way to pay off debt. The Bitcoin Policy Institute has already drafted an order to make Bitcoin a strategic reserve asset. It would require $21 billion in investment over one year.

The US government currently holds nearly $20 billion worth of Bitcoin, confiscated as part of various investigations, according to analytics company Arkham. Bitcoin has rallied 44%, to nearly $100,000, since the November election in part on hopes that such a stockpile would be created.

“President Trump will deliver on his promise to encourage American leadership in crypto,” stated Trump transition team spokesperson Brian Hughes. Furthermore, besides Bitcoin, the President-elect is reportedly open to creating an America-first strategic reserve for cryptocurrencies like Solana (SOL) and XRP, according to a report from the New York Post.

The news will likely spur cryptocurrencies like BTC, SOL, XRP, and altcoins to surge further in the coming days. Already, Bitcoin is creeping back up to $100,000, while Solana is etching closer to a new all-time high in the next month.

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

TRUMP’S POTENTIAL TREASURY SECRETARY PICK ‘SEES NO REASON’ FOR US CBDC

The president-elect cannot officially nominate anyone until after he is inaugurated on Jan. 20, but the US Senate has been holding hearings to question his potential picks.

Scott Bessent, US President-elect Donald Trump’s anticipated pick for the country’s Treasury secretary, faced Senators in a hearing to explain his positions on financial issues.

In a Jan. 16 hearing of the US Senate Committee on Finance, Bessent responded to questions from Republican Senator Marsha Blackburn regarding a US central bank digital currency (CBDC).

The Tennessee lawmaker brought up Chinese officials introducing a digital yuan to foreign attendees at the 2022 Olympics and asked how Bessent could handle a potential digital dollar if officially nominated and confirmed in the Senate.

“I see no reason for the US to have a central bank digital currency,” said Bessent. “In my mind, a central bank digital currency is for countries who have no other investment alternatives. [...] Many of these countries are doing it out of necessity, whereas the US — if you hold US dollars, you can hold a variety of very secure US assets.”

The hearing noted that Bessent’s questioning was based on his “anticipated” nomination by Trump to be the next Treasury secretary, as the president-elect is not scheduled to be inaugurated until Jan. 20.

A former partner at the hedge firm Soros Fund Management and a donor to Trump’s campaign, Bessent reportedly made several statements suggesting he supported the US government’s efforts to promote crypto.

Changing administrations, changing positions on CBDCs?

In 2022, US President Joe Biden issued an executive order directing the Treasury Department to research the development of a potential CBDC. Though the initiative could help with financial inclusion for Americans, many Republican lawmakers have criticized a digital dollar as potentially compromising financial privacy and national security.

As a presidential candidate, Trump promised the crypto industry there would “never be a CBDC” while he was in office.

In May, the Republican-controlled House of Representatives passed the CBDC Anti-Surveillance State Act largely along party lines. The legislation would prohibit Federal Reserve banks from issuing CBDCs directly or indirectly.

The Senate Banking Committee received the bill from the House in June 2024. It’s unclear if or when the Senate will revisit the legislation following Republicans taking control of the chamber in January.

@ Newshounds News™

Source:  CoinTelegraph

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Seeds of Wisdom RV and Economic Updates Thursday Afternoon 1-16-25

Good Afternoon Dinar Recaps,

BRICS: RUSSIA & MYANMAR TO TRADE IN LOCAL CURRENCY, DITCH US DOLLAR

Myanmar’s Foreign Economic Relations Minister, Kan Zaw revealed that they are negotiating a local currency payment system with Russia. “We have been negotiating the kyat-ruble payment system to facilitate the bilateral trade.

However, the central banks of the two countries have been keeping the current series of discussions at a very low profile,” he said. The discussions will only benefit the BRICS bloc and add another feather to its de-dollarization agenda.

“Bilateral trade between the two countries will be increased through constructive dialogues at the national level by exchanging views on the potential of being able to connect with each other based on the needs of the market, resolving the difficulties encountered, and finding collaborative ways,” said Myanmar’s minister. The initiative aligns with the BRICS ideals of reducing the supply of the US dollar for global trade and transactions.

BRICS: Russia & Myanmar Look to End US Dollar Reliance, Promote Local Currency

Myanmar’s Foreign Economic Relations Minister, Kan Zaw revealed that they are negotiating a local currency payment system with Russia. “We have been negotiating the kyat-ruble payment system to facilitate the bilateral trade.

However, the central banks of the two countries have been keeping the current series of discussions at a very low profile,” he said. The discussions will only benefit the BRICS bloc and add another feather to its de-dollarization agenda.

“Bilateral trade between the two countries will be increased through constructive dialogues at the national level by exchanging views on the potential of being able to connect with each other based on the needs of the market, resolving the difficulties encountered, and finding collaborative ways,” said Myanmar’s minister. The initiative aligns with the BRICS ideals of reducing the supply of the US dollar for global trade and transactions.

In addition, BRICS members Russia and Iran will soon sign a defense deal without incorporating the US dollar. Both countries aim to use their local currencies, the rial and ruble, and not the US dollar.

Read here to know more details about the upcoming defense partnership between Russia and Iran. BRICS is advancing the de-dollarization initiative and is threatening the future prospects of the US dollar. Local currencies could take center stage in the next decade and begin to shake the roots of the US dollar.


@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

RIPPLE CEO CALLS SEC’S APPEAL ‘INSANITY’ AS LEGAL FIGHT INTENSIFIES

Ripple remains resolute as it dismisses SEC's latest appeal as groundless repetition of old arguments.

The United States Securities and Exchange Commission (SEC) has submitted its opening brief to challenge a court decision favoring Ripple.

In its Jan. 15 filing, the SEC claims that Ripple’s XRP sales to retail buyers should be classified as unregistered securities transactions.

According to the SEC:

“The district court erred both factually and legally in concluding that defendants’ offers and sales of XRP to public buyers who purchased on crypto asset trading platforms—including retail investors—and Ripple’s offers and sales of XRP for which Ripple received non-cash consideration were not offers and sales of investment contracts.”

The financial regulator also argued that Ripple’s activities fostered profit expectations among buyers, satisfying the criteria for an investment contract under the Howey Test.

Considering this, the financial regulator requested that the Appeals Court vacate the lower court’s erroneous ruling.

The SEC’s appeal follows its partial defeat in July 2023 when Judge Analisa Torres ruled that only XRP sales to institutional investors qualified as securities. The court concluded that sales to retail investors did not violate US federal securities laws, prompting the SEC to seek a reversal of this outcome.

The case began in December 2020 and ended with Ripple fined $125 million in August 2024. However, the SEC’s appeal has added further complexities to the ongoing legal battle.

Ripple’s response

Ripple’s Chief Legal Officer, Stuart Alderoty, has dismissed the SEC’s appeal as a repetition of arguments that have already failed in court.

Alderoty emphasized that Ripple remains resilient, viewing the SEC’s actions as an obstacle to broader regulatory clarity. He stated that the company would respond formally to the brief while continuing to focus on growth in a changing regulatory environment.

He added:

“The SEC’s lawsuit is just noise. A new era of pro-innovation regulation is coming, and Ripple is thriving.”

Ripple CEO Brad Garlinghouse also echoed this sentiment, saying:

“[The SEC’s brief is] one definition of insanity…. Doing the same thing over and over and expecting different results. Gensler’s SEC really took this to heart.”

@ Newshounds News™

Source:  CryptoSlate

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Seeds of Wisdom RV and Economic Updates Thursday Morning 1-16-25

Good Morning Dinar Recaps,

XRP SEC NEWS TODAY: BILL MORGAN EXPOSES SEC’S MISSTEPS IN RIPPLE LAWSUIT

Bill Morgan, a pro-crypto attorney, has strongly criticised the new opening brief submitted in the XRP lawsuit by the United States Securities and Exchange Commission. He has even questioned the regulator’s understanding of how the crypto market works.

However, in the last 24 hours, XRP has outperformed almost all the top cryptos, marking an impressive growth of nearly 9.4%. Let’s dive in for more details.

SEC’s New Opening Brief and Bill Morgan’s Criticism

As per the SEC’s opening brief, Ripple violated securities law through its XRP sales. The SEC, through the brief, alleged that Ripple’s representations to investors created an expectation of profits.

Exposing the regulator’s lack of understanding of how the cryptocurrency market functions, Bill Morgan, in an X post, retorted that price rises are often driven by market trends, not issuer promotions.

XRP Whale Movements Amid Legal Developments

Reports say that at least 130 million XRP tokens have been moved by whales during recent legal developments.

Whale activities may influence market sentiment. In the last one hour, the market has dropped by 0.2%.

Today, the market has experienced a drop of 1.5%.

XRP’s Long-Term Potential and ETF Speculation

Despite volatility and legal uncertainties, market sentiments for XRP remain bullish. According to a JP Morgan analyst, there is a high chance for the launch of an XRP ETF soon.

In conclusion, Ripple’s XRP remains a focal point in the crypto market, driven by legal developments and whale activity. As the case progresses, XRP’s future remains bright with long-term growth potential and increasing interest in an XRP ETF.
@ Newshounds News™

Source:  CryptoPedia

~~~~~~~~~

VANECK FILES SEC APPLICATION FOR DIGITAL ASSET ECOSYSTEM ETF

VanEck filed an application with the SEC for an "Onchain Economy" ETF that would invest 80% of its assets in digital transformation companies, joining a wave of recent digital asset ETF proposals from major financial firms.

▪️VanEck filed for an “Onchain Economy” ETF with the SEC on January 15, 2025, planning to invest 80% in digital asset ecosystem companies
▪️The fund will focus on software developers, miners, exchanges, infrastructure providers, and payment firms without directly holding cryptocurrencies
▪️Several other major firms including Bitwise, WisdomTree, and Grayscale have recently filed similar ETF applications
▪️The proposed ETF will use fundamental research and market trends to select investments in “Digital Transformation Companies”
▪️The move comes amid speculation about more favorable crypto regulations under the Trump administration

Asset management giant VanEck has submitted an application to the Securities and Exchange Commission (SEC) for a new exchange-traded fund focused on the digital asset industry. The filing, made on January 15, 2025, proposes the creation of the “Onchain Economy” ETF.

Matthew Sigel, who heads VanEck’s digital assets research division, initially shared news of the filing through social media, though the post was later removed. The ETF represents VanEck’s latest attempt to establish a presence in the expanding digital asset investment landscape.

The proposed fund has outlined clear investment parameters, stating it will direct at least 80% of its assets toward companies operating within the digital asset ecosystem. These investments will target what VanEck terms “Digital Transformation Companies,” encompassing various sectors of the industry.

@ Newshounds News™

Read more:  Blockonomi  

~~~~~~~~~

MALAYSIA’S PM WANTS TO DEVELOP CRYPTO AND BLOCKCHAIN POLICIES AFTER MEETING WITH CZ AND UAE LEADERS

Prime Minister of Malaysia, Anwar Ibrahim, says he wants to explore policies for crypto and blockchain technology after his meeting with Binance co-founder CZ and the Abu Dhabi government.

According to a report by media outlet New Straits Times, Ibrahim returned to Malaysia after a three-day visit to Abu Dhabi with plans to start developing policies related to cryptocurrency and blockchain technology so that the nation does not get left behind.

Speaking to reporters, the Prime Minister said he had lengthy conversations with the Abu Dhabi government and the former Binance CEO Changpeng “CZ” Zhao about crypto and blockchain technology.

“We have talked about digital transformation, data centres and artificial intelligence. We now face demands which require us to think about making significant changes,” said Ibrahim.

He claimed that he has requested government agencies such as the Treasury, the Securities Commission, and the national bank, Bank Negara, to study how Malaysia can keep up with the rapid developments of the crypto industry.

Ibrahim assured that he will draft a paper on the need for crypto and blockchain technology policies to be presented for review and endorsement by the cabinet as soon as possible. He emphasized the importance of regulations for crypto in order to “safeguard the people’s interests and prevent leakages.”

“This innovation is just like AI, which would revamp the financial world. We should not sit idly by and wait and later be forced to do so after others have done it already,” he said.

@ Newshounds News™

Source:  Crypto News

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Seeds of Wisdom RV and Economic Updates Wednesday Evening 1-15-25

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DAVOS TO WELCOME TRUMP VIRTUALLY AS WORLD LEADERS AWAIT NEW US PRESIDENT'S POLICIES

▪️Trump to join Davos meeting digitally, organisers say
▪️60 heads of state and government due to attend WEF meeting
▪️Ukraine's Zelenskiy to make address, take questions -WEF
▪️Middle East tensions, climate crisis also on the agenda

LONDON, Jan 14 (Reuters) - Donald Trump will mark his return to the global stage with a virtual World Economic Forum appearance in Davos next week, as world leaders await details of the incoming U.S. President's policies and his pledge to end the war in Ukraine.

Trump is due to return to the White House on Jan. 20, with his inauguration for a second term as U.S. President coinciding with the start of the 55th annual WEF meeting of political and business leaders in the Swiss mountain resort.

Brende said Trump, who has twice previously attended Davos, will join "digitally" on Jan. 23, without giving further details. He said it would be a "very special moment" to learn about the new Trump administration's policy priorities.

"There is a lot of interest to decipher and to understand the policies of the new administration, so it will be an interesting week," Brende said.

Topics on the Davos agenda range from mounting global geopolitical and economic uncertainty to trade tensions, climate goals and how AI can help make lives better.

Business leaders have become more optimistic about the economy given Trump's pledges to reduce regulation, potentially cut taxes and ease restrictions on activities including mergers and acquisitions, Rich Lesser, global chair of Boston Consulting Group, told Reuters ahead of the meeting.

Lesser said, however, that underlying optimism is being offset by concerns about tariffs, deportations, a widening budget deficit and the U.S. relationship with China.

MIDDLE EAST

This year's meeting in Davos is taking place against "the most complicated geopolitical backdrop in generations," Brende said, adding that the forum will have a strong focus on Middle East geopolitics, including high-level diplomatic talks.

Delegates will discuss developments in Syria and the humanitarian crises in Gaza and Yemen alongside other topics.

Participants will include Qatar's Prime Minister, the Saudi Arabian Foreign Minister, Syria's foreign minister, the U.N. special envoy on Syria, the Iranian Vice President, Israel's President and the Palestinian Prime Minister.

"There will be hard work at the situation in Syria, the terrible humanitarian situation in Gaza ... the potential escalation of the conflict in the Middle East. We were very close to it between Israel and Iran, and I don't think we're out of the woods yet," Brende said.

CLIMATE

The WEF will this week release an analysis looking at companies that account for two-thirds of global market capitalisation, which will show that only about 10% are taking meaningful and tangible action on the climate and nature agenda.

Business and political leaders gathering in Davos from Jan. 20 to Jan. 24 are also due to discuss how to ensure energy remains affordable, secure and green and the challenges preventing acceleration of efforts towards energy transition.

"We’re in a really challenging moment for climate, where countries are asking if other nations are doing their share," said Boston Consulting Group's Lesser.

@ Newshounds News™

Source:  Reuters

~~~~~~~~~

TIM SCOTT ANNOUNCES BANKING COMMITTEE PRIORITIES FOR 119TH CONGRESS

In a latest development, Chairman Tim Scott has announced the legislative and oversight priorities for the U.S. Senate Committee on Banking, Housing, and Urban Affairs for the 119th Congress. Scott aims to focus on increasing financial inclusion and advancing opportunities for Americans nationwide.

“My goal for this Congress is simple: make America work for Americans. Over the last two years, we’ve led comprehensive solutions to serious challenges Americans face—from addressing our failed federal housing policies to increasing access to capital to bolstering our economic national security—and we can build on this success,” Scott remarked.

Scott expressed his eagerness to collaborate with the Trump administration and committee colleagues in the 119th Congress to reach consensus and develop solutions that enhance financial inclusion and create opportunities nationwide. “The American people gave Congress a mandate – let’s get to work,” Scott added.

Top Priorities For The Banking Committee

Chairman Tim Scott’s priorities for the Banking Committee in the 119th Congress include:

Promoting Financial Inclusion, Affordable Housing: Scott aims to make financial services more accessible, reduce burdensome regulations, and ensure consumers have the tools to make informed decisions. He also plans to address high housing costs by reducing overregulation and advocating for targeted reforms to support families.

The committee will focus on policies that expand capital access for small businesses and entrepreneurs across the country, not just in large cities. The committee will work on creating a clear regulatory framework for cryptocurrency and digital assets to encourage innovation and protect consumers.

Scott will prioritize strengthening U.S. national security through sanctions, export controls, and countering threats from adversaries like Iran and China. The committee will also support state-based regulation of insurance and protect consumers, especially in flood-prone areas.

Besides, Scott plans to cut bureaucratic red tape to allow local communities to drive infrastructure projects. The committee will also hold federal agencies accountable for policies that hurt businesses and individuals and ensure transparency in government agencies.

In all, Chairman Scott will focus on creating opportunities for Americans while pushing back against policies that limit economic growth.

@ Newshounds News™

Source:  CoinPedia

~~~~~~~~~

XRP Surpasses $3, Predicted to Hit $4 Soon?  |  Watcher Guru

Stellar (XLM) Cryptocurrency Breaks Out: 30% Surge Incoming?  | Watcher Guru 

@ Newshounds News™

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Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 1-15-25

Good Afternoon Dinar Recaps,

THE SEC PLANS TO MOVE FAST ON CRYPTO POLICY OVERHAUL UPON TRUMP’S INAUGURATION

▪️The SEC is preparing to overhaul crypto policy under a new pro-industry chair, Paul Atkins, replacing Gary Gensler.

▪️Commissioners Hester Peirce and Mark Uyeda plan to clarify which cryptoassets are securities and reduce enforcement actions.

▪️Experts expect Congress and the White House to join the SEC in promoting innovation-friendly regulations.

Under Trump’s administration, the SEC is set to begin an overhaul of its crypto policy as soon as next week. Rumored first steps include reassessing which cryptoassets are securities and cooling off enforcement actions.

Commissioners Hester Peirce and Mark Uyeda both worked with incoming Chair Paul Atkins in the past and are actively planning to cooperate again as a pro-crypto majority.

The SEC’s Role in Crypto Policy

According to a report from Reuters, the SEC is ready to hit the ground running with radical changes to crypto policy. Less than a week remains until Donald Trump’s inauguration, and some experts anticipate a new rally.

New rumors of pro-crypto executive orders already juiced Bitcoin’s price, and Congressional industry allies are planning their own moves:

“Under Gensler, the SEC refused to provide clarity to the crypto industry. Moving forward, [we] will work to build a regulatory framework that… will promote consumer choice, education, and protection [and] foster an open-minded environment for new, innovative financial technologies and digital asset products,” claimed Senator Tim Scott.

In other words, the SEC is only one player in a broad coalition of crypto policy reform. To that end, the Commission is preparing for its Chair, Gary Gensler, to resign on Inauguration Day. A pro-industry replacement, Paul Atkins, has already been selected, but some of its sitting Commissioners are already planning their next moves.

Hester Pierce, who has long opposed SEC crypto crackdowns, and fellow pro-crypto Commissioner Mark Uyeda are weighing a few options to influence policy.

The pair both worked closely with Atkins in the past, and sources have claimed they plan to clarify which cryptoassets legally qualify as securities. They have yet to comment on other specific changes.

Trump’s SEC team is here to shake things up in crypto! Hester Peirce and Mark Uyeda are taking a second look at the ongoing cases—some might even get frozen if no fraud’s involved. The big play? Boosting Bitcoin. Pompliano’s already throwing ideas like a national Bitcoin reserve and no capital gains tax on BTC payments,” wrote Mario Nawfal.

Crypto Lawsuits Are Likely to Slow Down

One strong possibility for a policy change is the SEC drastically reducing its crypto crackdowns. In his last days, Gensler has been recalcitrant about maintaining a fight with Ripple, even though his effort could soon fall apart.

After he leaves, the SEC may drop this and “dozens” of other enforcement actions. As BeInCrypto reported earlier, Trump is already expected to sign a pro-crypto executive order on his first day. The order will likely overturn controversial SAB 121, which restricts banks from holding crypto.

Although the courts may not approve of such a cool-down period, there is precedent. Shortly after Trump’s election, the US Attorney for the SDNY signaled that his office would scale back crypto prosecutions.

This district enforces many high-profile finance activities, including the Sam-Bankman Fried case, but it still openly plans to ease off.

In other words, the SEC has many avenues for impacting US crypto policy in short order. Pierce and Uyeda haven’t signaled any other immediate plans besides classifying assets’ security status and reviewing enforcement cases. However, they are closely considering the issue.

Between a friendly SEC, Congress, and President, sweeping changes will be easy to implement.

@ Newshounds News™

Source:  Be In Crypto

~~~~~~~~~

U.K.’S NEW ECONOMIC SECRETARY EMMA REYNOLDS TO OVERSEE CRYPTO

Emma Reynolds, former parliamentary secretary at the Treasury, has been appointed the new economic secretary.

Reynolds’s appointment follows the resignation of Tulip Siddiq, who stepped down in a letter to the Prime Minister. Siddiq, the member of parliament for Hampstead and Highgate, cited personal reasons for her departure.

The new economic secretary will play a key role in shaping the government’s crypto regulation agenda. In addition to digital assets, Reynolds will oversee the U.K.’s central bank digital currency plans.

Her appointment comes as the U.K. continues to push for greater regulatory compliance in the crypto sector. The government has pursued this approach over the past few years as part of its ambition to become a leading hub for digital assets innovation.

Market watchdogs, such as the Financial Conduct Authority, have adopted a more supportive stance toward the crypto industry in recent months, contrasting with the stricter approach taken by the U.S. under outgoing SEC Chair Gary Gensler.

The landscape has shifted since Donald Trump’s election, and industry players are optimistic about what the new SEC leadership could mean for the crypto ecosystem in the U.S. Trump will be inaugurated on Jan. 20.

As crypto.news highlighted, the SEC plans to move away from its “regulation by enforcement” strategy and freeze certain ongoing lawsuits that do not involve fraud.

While it remains to be seen how Reynolds will impact the U.K.’s crypto policies, the general sentiment is that the country aims to remain competitive amid growing global crypto adoption.

In December 2024, the European Union’s Markets in Crypto Assets (MICA) rules came into full effect, with industry players keen on leveraging the clarity MiCA offers to expand across the bloc.

The U.K.’s own legislation on cryptocurrencies and stablecoins is expected to be finalized in early 2025.

@ Newshounds News™

Source:  Crupto News

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H.R.369 - To provide for the elimination of the Department of Education, and for other purposes.

Sponsor:  Rep. Rouzer, David [R-NC-7] (Introduced 01/13/2025)
Committees:  House - Education and Workforce
Latest Action:  House - 01/13/2025 Referred to the House Committee on Education and Workforce. 

As of 01/15/2025 text has not been received for H.R.369 - To provide for the elimination of the Department of Education, and for other purposes.

[Congressional Record Volume 171, Number 6 (Monday, January 13, 2025)]

[House]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
By Mr. ROUZER:
H.R. 369.
Congress has the power to enact this legislation pursuant
to the following:
Article I, Section VIII
[Page H112]

• Constitutional Authority and Single Subject Statements

About Constitutional Authority and Single Subject Statements

Pursuant to clause 7(c) of House Rule XII and Section 3(c) of 118th Congress H.Res. 5, Rule XII, to be accepted for introduction by the House Clerk, all bills (H.R.) and joint resolutions (H.J.Res.) must provide a document stating “a statement setting forth the single subject of the bill or joint resolution” and "as specifically as practicable the power or powers granted to Congress in the Constitution to enact the bill or joint resolution."

@ Newshounds News™

Source:  Congress

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Seeds of Wisdom RV and Economic Updates Wednesday Morning 1-15-25

Good Morning Dinar Recaps,

BRICS NEWS: INDONESIA WANTS RUSSIAN OIL DEAL, IS UNAFRAID OF TRUMP WARNING

With the ongoing geopolitical concerns waging between the global south and the west, the plot has certainly thickened. Indeed, the BRICS expansion nation, Indonesia, has recently stated it wants to buy Russian oil while stating it remains unafraid of Western retaliation or the ongoing tariff warning from US President-elect Donald Trump.

Since Trump emerged victorious in the 2024 presidential election, he has issued a stark threat to the economic alliance specifically. Although focused on de-dollarization, oil bought from Russia would only further its local currency promotion policies. Therefore, it could be subject to the same consequence from the West. The question is, does it matter to nations now joining the group?

Indonesia Eyes Increased BRICS Trade as They Remain Willing to Pay ‘Geopolitical Costs’

For the last two years, the BRICS alliance has been the subject of interest for a number of nations. With the bloc championing economic equality on a global scale, it has sought to challenge the dollar. Now, that pursuit has elicited a harrowing response from the incoming US President. Yet, that has not deterred one of its most recent expansion countries.

The newest BRICS country, Indonesia, is reportedly seeking to buy Russian oil, while also noting they remain undeterred by Trump’s 100% tariff threat. Moreover, they have discussed increased exports to both China and India, with eyes on solidifying its place in the collective.

Indonesia’s Minister of Energy and Mineral Resources, Bahlil Lahadalia, recently said, “An opportunity to acquire oil from Russia emerged after we joined BRICS.” He noted that the opportunity would be one they accept.

“As long as it complies with regulations and presents no issues, why not?” Minster Lahadalia added. His sentiments were similar to Indonesia’s National Economic Council Chair, Luhut Binsar Pandjaitan.

“As long as it benefits the Republic of Indonesia, we are open to discussing it. If this step allows us to purchase oil at US$20 or US$22 cheaper, why not?” he added. This drove some concerns over Western retaliation. Yet Trade Minister Zulkifil Hasan answered those, noting that the country would not operate its trade dealings out of fear.

“Why don’t we want to [buy Russian oil]? We’re afraid? There’s no room for being afraid in trade. How can one conduct trade if one is afraid?” However, international relations and Indonesian politics expert, Ahmad Risky Umar, notes that “there is likely to be geopolitical costs.” Moreover, the country president, Pabowo Subianto, is said to be aware of and prepared to navigate them.

@ Newshounds News™

Source:  Watcher Guru

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ELON MUSK FIRES BACK AT ‘BROKEN’ SEC AMID $150M X LAWSUIT

▪️SEC sued Elon Musk for delaying disclosure of his X share acquisitions in 2022.

▪️Musk criticized the SEC as the community backed him.

The U.S. Securities and Exchange Commission (SEC) has sued Elon Musk. They accuse him of failing to disclose his large Twitter share acquisition on time in early 2022.

The SEC alleges this delay allowed Musk to secure his stake at an artificially reduced price, saving $150 million.

The late disclosure also affected other investors. They missed the chance to sell their shares at potentially higher values, unaware of Musk’s involvement.

Why did the SEC sue Musk?

Under SEC rules, investors surpassing a 5% stake in a public company must report it within ten days—a requirement Musk allegedly exceeded by eleven days.

The SEC alleged stating,

“Because Musk failed to timely disclose his beneficial ownership, he was able to make these purchases from the unsuspecting public at artificially low prices.”

The SEC also added,

“That day, Twitter’s stock price increased more than 27% over its previous day’s closing price.”

For context, the SEC alleges that Tesla CEO Elon Musk began acquiring Twitter shares in early 2022. By March 14th, he had surpassed a 5% ownership threshold.

Between the 24th of March and the 4th of April 2022, Musk reportedly spent over $500 million to buy additional shares, underpaying Twitter investors by more than $150 million.

The regulator claims that Musk’s failure to disclose his ownership on time allowed him to buy shares at artificially low prices. The market was unaware of his significant stake, a material fact that would have influenced stock valuations.

This occurred days before Gensler’s resignation

Interestingly, the timing of the SEC’s lawsuit coincides with significant leadership transitions, as Chair Gary Gensler prepares to step down on 20th January, marking the start of Donald Trump’s presidency.

This period also aligns with Musk’s upcoming role as the head of the newly established “Department of Government Efficiency” (D.O.G.E.), where he will advise the incoming administration on streamlining government operations.

The overlap of these developments adds an intriguing layer to the unfolding legal and political narrative surrounding Musk and his involvement with X(formerly Twitter).

As anticipated, Musk took to X to voice his criticism of the SEC, and stated,

“Totally broken organization. They spend their time on shit like this when there are so many actual crimes that go unpunished.”

Needless to say, the community stood in favor of Musk.

@ Newshounds News™

Read more:  AMB Crypto

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CONGRESSMAN TOM EMMER APPOINTED AS VICE CHAIR OF DIGITAL ASSETS SUBCOMMITTEE, PROMISES AMERICA WILL GUIDE CRYPTO FUTURE

Emmer is a pro-crypto Congressman who now joins Bryan Steil as part of the subcommittee’s leadership to oversee crypto regulation in the US.

▪️Under Trump's leadership, Emmer will serve as the vice chair of the crypto and AI subcommittee.

▪️Emmer promises to put the country at the forefront of crypto progress and innovation, especially with SEC Chair Gary Gensler gone.

▪️Emmer is crypto-forward, and has contributed to multiple bills, including an anti-surveillance bill passed last year.

Congressman for Minnesota’s 6th District, Tom Emmer, has been appointed as Vice Chairman of the Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence. In an X post published earlier today, Emmer expressed eagerness to work with subcommittee Chairman Bryan Steil as they steer the future of crypto and AI.

@ Newshounds News™

Read more:  CoinSpeaker

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Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

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Seeds of Wisdom Team™ Website

Subscribe to Seeds of Wisdom Team™ Newsletter

Thank you Dinar Recaps