Seeds of Wisdom RV and Economic Updates Thursday Evening 1-30-25

Good Evening Dinar Recaps,

COINBASE FILES TO LIST SOLANA AND HEDERA FUTURES ON ITS DERIVATIVES TRADING PLATFORM

▪️Coinbase Derivatives has filed to list new futures contracts for Solana and Hedera tokens on or after Feb. 18.

▪️The move comes amid a flurry of regulatory filings to list new assets like crypto ETFs and derivatives.

Coinbase Derivatives, a subsidiary of the U.S.-based crypto exchange, has filed to list new futures contracts for Solana and Hedera, according to separate regulatory filings on Thursday. The exchange is looking to list these new contracts, which will be cash-settled on a monthly basis, on or after Feb. 2025.

Coinbase is the latest firm looking to capitalize on the improved market sentiment and the possibility of positive regulatory advancement under the Trump Administration.

CME, for instance, appears to be readying to launch SOL and XRP futures in the coming weeks, while asset managers such as VanEck and ProShares submitted a flurry of crypto ETF filings to trade Litecoin, XRP and Solana in the days leading up to Inauguration Day.

Launched in June 2021, Coinbase Derivatives is regulated by the Commodity Futures Trading Commission as a “designated contract market” to allow users to trade crypto derivatives like futures contracts on various digital assets, including BTC and ETH.

If approved, the new Solana futures will have a contract size of 100 SOL (around $24,000) contract notional, or the monetary value of a futures contract at a given price. Trading terminates at 4:00 PM London time on the last Friday of the contract month. 

The exchange also filed to list a “nano” Solana contract with a size of five SOL. The Hedera contract would track 5,000 Hedera tokens.

Nodal Clear, LLC, a CFTC-registered derivatives clearing organization, will clear the contracts.

“The Exchange has spoken with FCMs and market participants who support the decision to launch a nano Solana Contract. The Exchange is not aware of any substantive opposing views to the Contract,” Coinbase wrote in all three regulatory filings.

@ Newshounds News™

Source:  The Block

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TETHER DISAPPOINTED WITH ‘RUSHED ACTIONS’ ON MICA-DRIVEN USDT DELISTING IN EUROPE

MiCA-triggered crypto changes in Europe could create a “disorderly” market, according to USDT stablecoin operator Tether.

Stablecoin operator Tether addressed European cryptocurrency regulations amid exchanges like Crypto.com preparing to delist its USDt stablecoin in Europe tomorrow.

Tether expressed disappointment over market developments in Europe amid changes triggered by the enforcement of the European Union’s Markets in Crypto-Assets (MiCA) framework.

Crypto.com, a global crypto exchange, confirmed on Jan. 29 it will start delisting Tether’s USDt stablecoin and nine other tokens on Jan. 31 to comply with MiCA regulations.

“It is disappointing to see the rushed actions brought on by statements which do little to clarify the basis for such moves,” a spokesperson for Tether told Cointelegraph.

EU consumers under risk of “disorderly” crypto market

MiCA-triggered changes pose significant risks for EU consumers and the local crypto market, with exchanges like Crypto.com preparing to delist multiple tokens, according to Tether.

“These changes affect many tokens in the EU market, not only USDt, and we fear that such actions will lead to further risk being placed on consumers in the EU,” Tether’s representative said.

According to Tether, such regulatory developments in the EU could create a “disorderly” market at a time when MiCA is still in the early stages of implementation.

As previously mentioned, Crypto.com’s MiCA-forced delisting process is set to affect a total of 10 tokens, including Wrapped Bitcoin (WBTC) stablecoin and more.

Coinbase — an exchange that delisted USDT in December 2024 — said at the time it would delist six tokens to comply with MiCA. The exchange delisted WBTC on the entire Coinbase platform for other reasons on Dec. 19, 2024.

“We regularly review the assets we make available to customers on our platform to ensure we are meeting regulatory requirements, and will assess re-enabling services for stablecoins that achieve MiCA compliance on a later date,” a Coinbase representative told Cointelegraph on Jan. 30.

The spokesperson also mentioned that Coinbase has so far delisted a total of eight tokens to comply with MiCA.

Tether finalizes European strategy for USDt

Apart from broader consumer risks potentially arising from MiCA-triggered ecosystem changes, Tether reiterated that MiCA poses negative implications for stablecoins licensed in the EU.

“As we have consistently expressed, some aspects of MiCA make the operation of EU-licensed stablecoins more complex and potentially introduce new risks,” Tether said.

Tether’s representative also again highlighted differences in stablecoin use cases between Europe and emerging markets, where USDT is extremely popular. “The USD stablecoin market is almost negligible in Europe,” the spokesperson noted.

At the same time, Tether still commends EU regulators for their efforts in establishing a structured framework, as it plays a key role in fostering growth within the sector, the spokesperson noted, adding:

“As Tether finalizes its European strategy for USDt, it remains committed to ensuring compliance with evolving regulations while introducing groundbreaking technologies such as Hadron and investments in transformative projects such as Quantor, designed to be MiCA compliant.”

Tether’s comments come shortly after the European Securities and Markets Authority pushed European crypto asset service providers (CASP) to start restricting non-MiCA-compliant stablecoins by the end of January.

While still allowing the listing of those tokens in sell mode until March 31, the regulator has asked CASPs to completely restrict non-compliant stablecoins by the end of the first quarter of 2025.

@ Newshounds News™

Source:  CoinTelegraph

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CZECH NATIONAL BANK GOVERNOR TO PROPOSE $7B BITCOIN RESERVE PLAN

The Czech National Bank may invest up to 5% of its reserves in Bitcoin, potentially acquiring $7.3 billion in BTC as part of its diversification strategy.

The Czech National Bank (CNB) may become the first European central bank to invest in Bitcoin as part of its diversification strategy for the country’s foreign exchange reserves.

CNB Governor Aleš Michl is set to present his Bitcoin acquisition plan to the bank’s board meeting on Jan. 30, he told the Financial Times.

If approved, the investment may amount to over $7.3 billion in Bitcoin purchases, given the CNB’s total reserves of more than $146 billion, according to André Dragosch, head of research at Bitwise 

@ Newshounds News™

Read more:  CoinTelegraph

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Seeds of Wisdom RV and Economic Updates Thursday Afternoon 1-30-25

Good Afternoon Dinar Recaps,

BRICS: CHINA TRADE SURPLUS HITS $1T AMID US FACEOFF

The last several months have seen geopolitical tensions between the global South and West increase. At the center, new United States president Donald Trump has warned of impending 100% tariffs on the alliance. Yet one of the BRICS leading nations, China, has recently announced a trade surplus of $1 trillion amid its ongoing US faceoff.

The growth of China as a prominent global economy is undeniable. Moreover, it has only reinforced the growing rivalry with the United States that could continue well into 2025. However, the Eastern Asian nation has continued to solidify its position at the forefront of an economic alliance that could be growing in its allure.

China Announces Trade Surplus and Economic Growth as US Targets BRICS

In 2024, Donald Trump won a historic presidential election. The outcome was clear, and he was set to lead his second nonconsecutive term as commander-in-chief. 

A key part of his campaign was ensuring the US dollar stood as the world’s currency. That placed his incoming administration in direct conflict with the BRICS alliance

For much of the last several years, the BRICS bloc has sought to challenge the dominance of the greenback. Moreover, they have even considered the creation of their own economic alliance. A big reason was to create an alternative world order, one that doesn’t so easily rely on the West.

That message caught on, and its influence is what drove Trump to focus on countering it. Yet, recent data has reinforced why it became important to begin with. Indeed, BRICS nation China has announced its trade surplus has hit $1 trillion amid its US faceoff.

That reality reinforces the potential of the Chinese economy to continue to flourish. The US goods trade deficit reached a record $122 billion, according to a Reuters report. Moreover, China has also announced a 5% economic growth figure, which only assures it is a key alternative to Western dominance.

Trump has warned of incoming tariffs, but the data makes that a concerning proclamation. How both sides respond will have monumental geopolitical implications.

To this point, China has not budged on its BRICS-related efforts. Alternatively, the US President has not sought producing discussions. Only time will tell where the faceoff goes in the coming months.

@ Newshounds News™

Source:  Watcher Guru

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ECB CUTS RATES, LAGARDE RULES OUT BITCOIN IN EU RESERVES

The European Central Bank cut interest rates as expected on Thursday and left the option for more easing open. It maintained that inflation in the euro zone is mostly under control, despite concerns about global trade.

ECB Cuts Rate To 2.75%

The European Central Bank made its fifth rate cut since June, lowering the deposit rate from 3.0% to 2.75%. Despite some signs of recovery in recent surveys, the euro zone economy remains weak, and inflation is still slightly above the ECB’s 2% target.

This economic situation made the rate cut necessary to support growth and keep inflation under control. “The disinflation process is well on track,” noted the ECB.

The ECB noted that inflation is still high because wages and prices are adjusting slowly after the past inflation surge. However, wage growth is slowing down as anticipated, and company profits are helping to reduce the impact of inflation.

Policymakers Relieved

Besides, the policymakers were likely relieved after U.S. President Donald Trump’s new administration didn’t impose the feared blanket trade tariffs. However, his threats continue to cast a shadow over the economic outlook. Tariffs often weaken economic growth, and if countries respond with their own tariffs, it can drive up inflation. This could complicate the ECB’s plans to ease interest rates.

Recently, the US Federal Open Market Committee (FOMC) announced its first monetary policy decision of 2025 noting that it will keep interest rates steady at the 4.25% to 4.5% range, which was in line with expectations.

Bitcoin Won’t Enter EU Reserves

Besides, the European Central Bank President Christine Lagarde said that she was confident that Bitcoin would not enter reserves in the European Union.

“There is a view around the table of the Governing Council and most likely the General Council as well that reserves have to be liquid, that reserves have to be secure, that they have to be safe, that they should not be plagued by the suspicion of money laundering or other criminal activities,” Lagarde noted.

As a result, she stated that she is confident Bitcoin will not be included in the reserves of any central bank within the General Council.

Czech Reublic Faces Concerns Over Bitcoin Reserve Proposal

The Czech Republic is also preparing to adopt a Bitcoin reserve, but Finance Minister Zbynek Stanjura has raised concerns about the country’s Bitcoin strategy. In response to Czech National Bank (CNB) Governor’s Bitcoin proposal, the Finance Minister voiced concerns about Bitcoin’s instability and volatility. He argued that Bitcoin is unsuitable as a national reserve due to its highly volatile nature and emphasized that the government cannot override the CNB’s decisions.

@ Newshounds News™

Source: Coinpedia

~~~~~~~~~

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Seeds of Wisdom RV and Economic Updates Thursday Morning 1-30-25

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PAYPAL’S PYUSD STABLECOIN JOINS CARDANO, ENHANCING BLOCKCHAIN INTEROPERABILITY

PYUSD’s integration into Cardano enhances DeFi liquidity, providing users with new stablecoin options and increasing cross-chain transaction potential.

▪️PYUSD, launched by PayPal, is now available on Cardano via a bridge by Wanchain, expanding cross-chain options.

▪️The stablecoin brings new lending opportunities to Cardano, enabling platforms to offer yield-earning products.

▪️PYUSD’s presence on Cardano boosts liquidity, attracting more participants and enhancing the network's appeal.

Cardano is expanding with the integration of PayPal USD (PYUSD) in its system. PYUSD, a stablecoin that was first available on Solana and Ethereum, is now accessible on Cardano through a bridge created by Wanchain. This provides Cardano blockchain users with new ways to trade, lend, and manage liquidity.

The introduction of PYUSD opens up new opportunities for lending protocols on Cardano. Platforms may adopt the stablecoin to offer yield-earning options, further expanding the lending ecosystem. For traders, having another stablecoin for liquidity and positions adds flexibility and efficiency. PayPal users and blockchain participants with PYUSD can now bridge their assets to Cardano, helping attract more users and making the ecosystem more appealing.

Wanchain’s CEO, Temujin Louie, stated that the integration will provide users with additional options and more autonomy when moving assets between blockchains. With nearly $447 million in Cardano’s DeFi ecosystem, this collaboration will promote stronger connections between networks, fostering new developments and broader blockchain adoption. It will contribute to improving the interaction between diverse systems.

Broader Implications for US Cryptocurrency and Cross-Border Payments

Aside from its impact on Cardano, PYUSD’s integration could also have broader implications for the cryptocurrency market in the United States. Platforms that support PYUSD may gain a competitive edge as users increasingly favor networks offering diverse stablecoin services. This trend could reshape US digital currency platforms, encouraging greater adoption of blockchain-based payment solutions.

The integration also demonstrates the potential of stablecoins like PYUSD to streamline cross-border payments. By significantly reducing transaction times and fees compared to traditional banking systems, stablecoins could set the stage for wider adoption of similar frameworks across other networks.

However, challenges remain. The need for seamless operation and adherence to regulatory frameworks, including features like reversing transactions or locking accounts, is critical. Cross-chain bridges also pose technical challenges, such as security risks, complicated transactions, and ensuring secure and efficient performance. Addressing these issues will require constant attention and strong security measures.

PYUSD’s Market Performance and Cardano’s Expanding Stablecoin Ecosystem

The total supply of PYUSD is currently $484 million, according to data from CoinMarketCap. The stablecoin was launched in August 2023. In September, PayPal began allowing US businesses to directly buy, hold, and sell cryptocurrencies through their accounts. In October, OKX wallet revealed that it now supports the token in its spot market.

PYUSD is an addition to the growing list of stablecoins in the Cardano ecosystem, including DJED, iUSD, MyUSD, USDM, USDC, and USDT, among others. The price of Cardano’s native token, ADA, has increased by more than 7% in the last 24 hours and is currently trading at $0.9542.

The integration of PYUSD into Cardano is a major milestone. It strengthens the foundation for blockchain interoperability, fosters growth in DeFi, and enhances the user experience for both Cardano participants and PYUSD holders.

@ Newshounds News™

Source:  CoinSpeaker

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CRYPTO FOE AND FORMER SEC CHAIR GARY GENSLER RETURNS TO MIT

▪️Gensler will focus on AI, financial technology, and finance.

▪️The announcement comes one week after he stepped down as SEC chair.

▪️Gensler is touted to be one of crypto’s staunchest adversaries in Washington D.C.

One of crypto’s top adversaries is returning to academia.

Former Securities and Exchange Commission Chair Gary Gensler will return to MIT after a controversial four-year stint at the helm of the regulator.

His teaching and research will focus on artificial intelligence, finance, financial technology, and public policy, according to a press release from the prestigious university.

“I’m thrilled to once again collaborate with MIT’s distinguished team of scholars creating a better future for all through artificial intelligence, finance, and technology,” said Gensler in a statement.

The news comes one week after he left the markets watchdog the same day that Donald Trump was inaugurated. Before stepping down, he had become crypto’s l’ennemi commun after spearheading the agency’s crackdown on the industry.

At MIT, Gensler will serve as co-director of the FinTechAI initiative, exploring the intersection of AI and finance.

His new focus on AI comes at a crucial time for the US tech industry. Earlier this week, the market went into freefall after a Chinese artificial intelligence startup dubbed DeepSeek surfaced. The startup brandished an AI assistant that operates at a discount to US-based AI leader OpenAI and its ChatGPT product.

The slump — which wiped out more than $1 trillion from the broader stock market — was also exacerbated by derisking from investors in anticipation of Wednesday’s Federal Open Market Committee meeting by the Federal Reserve.

Gensler was co-director of MIT’s FinTech@CSAIL, and senior advisor to the MIT Media Lab Digital Currency Initiative immediately before he joined the SEC.

Anti-crypto stance

Under Gensler, the SEC pursued a number of lawsuits against top companies like Coinbase, Binance, and Ripple, while also tagging a number of tokens as unregistered securities.

His tough approach wasn’t limited to crypto.

While leading the Commodity Futures Trading Commission from 2009 to 2014, he was also known as an industry hard-hitter — annoying Wall Street and implementing new swap rules in the aftermath of the global financial crash of 2008.

“Those who have known Gensler throughout his regulatory career know he has an imperious attitude that tends to rub industry and fellow policymakers the wrong way,” Sean Tuffy, a regulation and market structure expert, previously told DL News.

“He’s not a warm and fuzzy guy,” Tuffy said.

@ Newshounds News™

Source:  DI News

~~~~~~~~~

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Seeds of Wisdom RV and Economic Updates Wednesday Afternoon 1-29-25

Good Afternoon Dinar Recaps,

CRYPTO MOMENTUM IN THE US: WHAT’S NEXT FOR RIPPLE PAYMENTS

The turn of the year signifies motivated new beginnings, and Ripple has hit the ground running in 2025 with multiple advances to its cross-border payments solution.

Additionally, industry players across the US are enthusiastic about what the next four years has in store as a progressive crypto administration takes office.

Financial institutions that are eager to stay ahead of the curve are moving to capitalize on crypto—both to diversify portfolios and to optimize efficiency through blockchain solutions.

Crypto-enabled cross-border payments is one use case that has proven valuable to global finance leaders, more than 90% of which believe blockchain and digital assets will have a massive or significant impact on finance in the next three years.  

Ripple, the leading provider of digital asset infrastructure for financial institutions, has recently secured key Money Transmitter Licenses (MTLs) in New York and Texas—two states where Ripple has seen strong demand for real-time global payments from both banks and crypto businesses—bringing the total to more than 50 MTLs.

Texas and New York have defined regulations and stringent licensing requirements with robust compliance standards and regulatory oversight.

With more than 60 licenses globally, Ripple can offer customers access to a seamless, compliant-first, global payment experience that leverages the superior capabilities of digital assets. MTLs allow Ripple Payments customers to access a licensed version of the cross-border payments solution in the US where transactions are managed end-to-end by Ripple on behalf of the customer.

For years, Ripple has been working diligently to secure global licenses. Ripple and its other subsidiaries collectively hold:

▪️a NY BitLicense

▪️NY Limited Purpose Trust Company Charter

▪️55+ MTLs across Ripple's payments, custody and stablecoin business

▪️a Major Payment Institution License from the Monetary Authority of Singapore

▪️a Virtual Asset Service Provider registration with the Central Bank of Ireland

▪️a Virtual Asset Service Provider registration with the Cayman Islands Monetary Authority

▪️in-principle license approval from the DFSA

Additionally, customers can access Ripple’s global payments network through a single integration where streamlined onboarding offers the agility and speed necessary to keep up with the rapidly evolving payments market. Last year saw banks lose a small but noteworthy share of the cross-border payments market to new players, indicating a trend that will likely drive banks to rethink strategies to stay competitive.

“We’re continuing to see more interest from financial institutions to crypto businesses that want to unlock the benefits of crypto and blockchain for faster, cost-efficient and 24/7 cross-border payments.

With years of experience working in both crypto and with financial institutions, Ripple is well-positioned to support companies who are ready to take advantage of the current landscape,” said Joanie Xie, Managing Director of North America at Ripple.

Ripple Payments has served $70 billion in payments volume, with around-the-clock availability and global network coverage across 90+ markets representing more than 90% of the daily FX markets. Last year, Ripple’s payments business doubled and a number of new North American customers were added to the network including:

▪️Bancoli

▪️CambioReal

▪️GeoSwift

▪️AgilityFx

▪️Cloud Payments

▪️Atlantic Xchange

▪️Zil Money

Demand for digital asset capabilities has grown alongside greater adoption of stablecoins for payments including Ripple USD (RLUSD)—an enterprise-grade, USD-denominated stablecoin created with trust, utility, and compliance at its core. RLUSD will be integrated into Ripple Payments later this year.

Digital asset regulation in the US is rapidly shifting. Just last week, the Securities and Exchange Commission (SEC) rescinded SAB 121 for crypto assets, which would have imposed prohibitive requirements on banks offering digital asset custody services. Congress had previously voted to overturn SAB 121 last year with bipartisan support.

A growing number of US policymakers and regulators are recognizing the importance of digital asset innovation, signaling a confidence in the realized and potential benefits at both the consumer and industry level.

As such, real-world digital asset use cases are moving to the foreground and institutions are taking action on their crypto strategies. 

The financial sector is trending increasingly digital as technologies like blockchain and artificial intelligence envelop existing services and open doors to new use cases like real-world asset (RWA) tokenization which can afford greater utility, liquidity, and accessibility of financial instruments (e.g., stocks, bonds, ETFs).

Ripple is continuing to expand its US footprint by investing in domestic talent; ~75% of open positions are based in the US and domestic hiring has doubled compared to 2023. Just last year, Ripple opened new, larger offices in San Francisco and New York, signaling positive business momentum in the US.

The coming years will likely be monumental for the crypto industry, with many optimistic that political bodies and financial institutions alike will glean the benefits of blockchain through public-private collaboration, continued education, and tangible results driven by real-world applications of the technology.

@ Newshounds News™

Source:  Ripple

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COINBASE DEEPENS TIES TO TRUMP WITH ADVISORY COUNCIL PICK

Weeks after a meeting between Trump and Brian Armstrong to reportedly discuss personnel, the US president’s co-campaign manager will be joining Coinbase’s advisory council.

In a Jan. 29 notice, Coinbase said former Trump co-campaign manager Chris LaCivita would join former US Senator Kyrsten Sinema, former New York Fed president Bill Dudley and former Colombian Ambassador to the US Luis Alberto Moreno on the exchange’s Global Advisory Council. LaCivita, who worked to help elect Trump, has close ties to the Republican National Committee and likely continues to have a relationship with the US president.

According to LaCivita, the crypto industry “deserves better” than former US President Joe Biden’s administration’s approach to legislation and regulation. He echoed Trump’s claims of making the US a leader in digital assets.

Coinbase established its advisory council in May 2023 to navigate the “increasingly complex and evolving” crypto landscape globally. 

The council’s members have included several former US lawmakers, including former Senator Pat Toomey. Cointelegraph contacted Coinbase regarding its current ties to the Trump administration but did not receive a response at the time of publication.

Coinbase CEO Brian Armstrong reportedly met with Trump in November after the US election to discuss personnel appointments. The exchange donated $1 million to Trump’s inauguration fund and said it was “committed to supporting” the transition from the Biden administration.

In 2020, Armstrong said Coinbase would not support “any particular causes or candidates” unrelated to its mission, calling them a “distraction.”

After the exchange received a Wells notice from the US Securities and Exchange Commission in 2023 — that ultimately led to a civil lawsuit — the company launched efforts to influence the outcome of US congressional elections, later contributing $45 million to help elect “pro-crypto” candidates in 2024.

With the election of Trump, some executives at crypto firms have suggested that the SEC’s new leadership could drop enforcement cases, potentially including Coinbase’s. A federal judge ordered Coinbase’s case stayed in January pending a decision by the Second Circuit Court of Appeals that could reverse an order denying the exchange’s motion for judgment.

@ Newshounds News™

Source:  CoinTelegraph

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FED HOLDS INTEREST RATE AT 4.25-4.5% DESPITE TRUMP’S CALL FOR A CUT: HERE’S THE IMPACT ON CRYPTO

The US Federal Reserve has finally announced its first policy decision for 2025 following two-day Federal Open Market Committee (FOMC) meeting. According to the recent press release, the Federal Open Market Committee decided to maintain interest rates at their current range of 4.25% to 4.5%. This decision follows after the committee lowered rates three times consecutively last year.

Fed Pauses Rate Cuts Despite Trump’s Call

As expected, Federal Reserve officials decided not to change interest rates after their recent two-day meeting, the first under President Trump’s second term. They made this choice even though President Trump has been pushing them to lower the rates.

Crypto Market Remains Stable

The crypto market stayed fairly stable because it had already expected the decision to keep interest rates unchanged. Fed Chair Jerome Powell previously mentioned that the committee isn’t rushing to lower the key benchmark interest rates and will proceed more cautiously with any rate cuts.

@ Newshounds News™

Read more:  Coinpedia

~~~~~~~~~

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Seeds of Wisdom RV and Economic Updates Wednesday Morning 1-29-25

Good Morning Dinar Recaps,

ELON MUSK’S X PARTNERS WITH VISA TO BUILD FUTURE PAYMENT SYSTEM WITH X MONEY

X CEO Linda Yaccarino announces a groundbreaking partnership with Visa for X Money, enabling real-time fund transfers and debit card connectivity as the platform expands into financial services.

▪️X has secured money transmitter licenses in over 40 states and FinCEN registration, laying groundwork for comprehensive financial services.

▪️The platform will allow users to fund X wallets via Visa Direct, highlighting Musk's strategy to transform X into an all-encompassing service.

▪️While promising innovative features for creators and users, the platform faces scrutiny over potential financial control and social credit concerns.

Elon Musk’s social media platform X has partnered with Visa to manage person-to-person payments for its upcoming X Money product. X CEO Linda Yaccarino announced that the partnership is the first of many major announcements related to X Money this year.

Yaccarino shared that Visa is the first partner for the X Money account, which is expected to launch before year’s end.

 She explained that Visa will allow the platform users to fund their X wallets via Visa Direct, connect their debit cards for person-to-person payments, and transfer funds instantly to a bank account.

On December 31, the X CEO hinted at what users can expect this year, saying, “2025 X will connect you in ways never thought possible.   X TV, X Money, Grok and more.”

Visa confirmed the partnership in a post, noting that it will enable U.S. X Money Account users to fund their accounts and transfer money in real-time using their debit cards through Visa Direct. The company stated:

“We’re excited to partner with XMoney on the launch of X Money Account. Visa Direct will make it possible for US X Money Account users to fund and transfer money in real-time with their debit card.”

Musk’s Plans to Evolve X Into an All-in-One Platform

Elon Musk has shared his vision of transforming X from a social media platform into an “everything app.” He has promised to make X a platform where users can conduct their financial activities. 

This collaboration with Visa signals a step toward realizing that vision. While the launch date for X Money remains unknown, more partners may join. According to CNBC, one of the initial uses for X Money will be enabling creators to receive payments and store funds independently.

In November 2022, Musk hinted during a publicly broadcast meeting with advertisers on Spaces that the platform’s upcoming payments product could eventually include banking features, such as a high-yield money market account.

X has successfully obtained money transmitter licenses in more than 40 states for its X Payments subsidiary and is registered with the Financial Crimes Enforcement Network (FinCEN) as a Money Service Business (MSB). App researchers have discovered code linked to X Money that outlines features like loading money into a wallet on the platform and making payments to other users.

Concerns Over X’s Financial Ambitions

Despite the excitement around X Money’s potential, there are concerns about the platform’s growing financial reach. Dominic Michael Tripi, a commentator with over fifty thousand followers on X, raised doubts about X’s control over user finances. 

He pointed out that if the platform can take actions like removing a user’s verification checkmark or suspending an account, it could potentially control access to users’ funds. He wrote:

“If they can take away your checkmark or suspend your account, they can take away your money. This is a precursor to a social credit system.”

@ Newshounds News™

Source:  CoinSpeaker

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BRICS: SAUDI ARABIA MEMBERSHIP DECISION TO IMPACT 2 KEY THINGS

Out of the nations that BRICS invited to join the bloc in 2023, Saudi Arabia is one of the few that hasn’t officially joined yet. The Kingdom has been weighing the decision to join the alliance for over a year, with major geopolitical implications in the balance. 

Faisal Al-Ibrahim, Minister of Economy and Planning, explained during the World Economic Forum in Davos that the kingdom is prioritizing a thoughtful approach to the decision, and doesn’t want to rush.

He stated that the country remains focused on the goal of “global dialogue” and carefully examines the “numerous aspects” related to a potential membership. According to him, this decision goes beyond economic considerations and involves complex strategic implications.

“The risks to economic cohesion, fiscal robustness, lingering inequalities, and energy access are not unconnected and affect us all,” the minister writes. “As such, tackling them demands bold, collaborative action and solutions.”

Al-Ibrahim also added at the forum,” “The kingdom is always focusing on fostering more global dialogue,” and that the Kingdom will come to an “appropriate decision.”

How Will Saudi Arabia Joining BRICS Affect the Alliance and Kingdom?

The BRICS alliance will get a boost in the arm if Saudi Arabia accepts the invitation and joins the bloc. Saudi Arabia is rich in cash flow and can fund the projects of the New Development Bank (NDB). The Kingdom is also oil-rich and can allow BRICS to control nearly 42% of the world’s natural oil sector.

On the other hand, Saudi Arabia does not want to sever ties with the West by joining the BRICS alliance. The Middle Eastern country wants to maintain a balance between the West and other developing countries. Riyadh is deeply interested in strengthening economic and diplomatic relationships with other major powers.

 Most importantly, China is Saudi Arabia’s top trading partner, and Riyadh is the main supplier of crude oil to Beijing. These ties have only grown as the kingdom pursues its Vision 2030 plan to diversify its economy.

 The success of its Vision 2030 needs the help and assistance of all countries combined. Losing one for the other would prove costly to Saudi Arabia’s economy.

In conclusion, Saudi Arabia’s decision to join or not to join BRICS will have plenty of implications not just on the Kingdom or the alliance, but several geopolitical outcomes. The Kingdom continues to weigh its options, and likely will not rush to a final decision.

@ Newshounds News™

Source:  Watcher Guru

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ONDO TO BRING TOKENIZED US TREASURYS TO XRPL

Ondo Finance said Tuesday (Jan. 28) that it will bring tokenized U.S. Treasurys to the XRP Ledger (XRPL).

This collaboration will offer institutional investors access to Ondo Short-Term U.S. Government Treasuries (OUSG), which are backed by the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) and can be instantaneously minted and redeemed at any time using the Ripple USD (RLUSD) U.S. dollar-denominated stablecoin, the companies said in a Tuesday (Jan. 28) press release.

“This integration is the natural convergence of a compliance-first, yield-bearing product with a network purpose-built for institutional adoption, setting the groundwork for forward-thinking institutions to lead a new era of capital markets onchain,” Ondo Finance Vice President of Partnerships Katie Wheeler said in the release.

Ondo and Ripple have secured commitments to seed OUSG liquidity upon deployment, according to the release.

The companies’ collaboration will meet institutional demand for tokenized U.S. Treasurys that offer liquidity, efficiency and transparency in capital markets, the release said.

Bringing OUSG to XRPL will provide a solution that provides institutional-grade security, accessible liquidity, and seamless tokenization and trading of real-world assets (RWAs), per the release.

“The 24/7 intraday settlement enabled by tokenized assets like OUSG marks a transformative shift in capital flow management, breaking free from traditional trading hours and slow settlements,” Markus Infanger, senior vice president, RippleX, said in the release.

The tokenization of RWAs has captured the imaginations of various players across payments, finance and commerce because it has the potential to make assets more liquid, accessible and efficient, PYMNTS reported last April.

Ripple and Archax extended their existing collaboration in June, saying they aimed to bring hundreds of millions of dollars of tokenized RWAs onto XRPL. Because Archax works with financial institutions to enable them to tokenize their financial RWAs, the collaboration will allow those institutions to select the XRPL to do so.

In February, Ondo Finance and Aptos Foundation partnered on the integration of RWAs with blockchain technology, beginning with the integration of Ondo’s tokenized U.S. Treasurys product, USDY, onto the Aptos blockchain. The partnership also sets the stage for a series of financial products using the strengths of the two organizations.

@ Newshounds News™

Source:  Pymnts

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Seeds of Wisdom RV and Economic Updates Tuesday Evening 1-28-25

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MICROSOFT (MSFT) TO BUY TIKTOK? WHAT IT WOULD MEAN FOR THE STOCK

In a rather surprising development for the company, Microsoft (MSFT) has been rumored to be among those in play to buy TikTok. Indeed, the tech company is one of a slew of high-profile names looking to purchase the immensely popular social media platform, as it looks to secure a US buyer.

US President Donald Trump told reporters Monday that the Windows software developer was “nalized, it would certainly have massive implications for the company’s stock.

Microsoft Looking to Buy TikTok, Trump Says: Why It Could be Huge for MSFT

One of the ongoing business world developments that has caught the attention of the general public has been the race to buy TikTok. Indeed, the incredibly popular application was faced with a nationwide banning as the Biden administration left office.

Early into his second term, Donald Trump signed an executive order to delay that ban by 75 days.

Yet, it has not changed the necessity for the social media platform to be purchased. Now, all eyes are on prospective buyers. There is no shortage of interest, but there have also been no concrete offers being made. That may be changing now, as Microsoft (MSFT) may be in line to buy TikTok.

Trump has confirmed Microsoft’s interest while also noting the process is ongoing. He assured that he is in discussion with multiple parties to purchase the app. Moreover, he noted that the situation would likely be resolved over the next 30 days.

The platform is incredibly popular, with over 170 million American users. Yet, ByteDance, its Chinese owner, has not commented on Microsoft, or any companies, acquisition interest. There is no denying that a sale would be huge for anyone.

However, it could be massive for Microsoft in particular. The firm has not been shy about making significant investments in recent years. It purchased OpenAI after the rise of ChatGPT for $13 billion. That has been called some of the “best money ever spent.” 

Similarly, TikTok could have interesting potential as it creates an avenue of entry for the Microsoft developer into the social media sector

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

PRO-CRYPTO SENATOR LUMMIS FILES LEGAL BRIEF SUPPORTING COINBASE AGAINST SEC

Pro-crypto Sen Cynthia Lummis has filed an amicus brief to support the Coinbase against the US SEC

▪️Senator Cynthia Lummis has filed an Amicus Brief for Coinbase in SEC Lawsuit.

▪️The Senator accused the SEC of overstepping its regulatory authorities.

▪️She wants the court to side with Coinbase and define the SEC’s powers.

Senator Cynthia Lummis, a pro-crypto Republican, is intensifying her fight against the US Securities and Exchange Commission (SEC) policies under former Chair Gary Gensler in support of Coinbase Global Inc.

According to The Block, Lummis recently filed a 29-page amicus brief supporting Coinbase’s appeal against the SEC’s lawsuit. Her legal brief accused the regulatory agency of overreaching in its ongoing case, undermining Congress’s authority over digital assets.

The Case Against Coinbase: Lummis Steps In

The SEC’s lawsuit against Coinbase has become a flashpoint in the debate over the agency’s regulatory overreach. The agency accused Coinbase of operating as an unregistered exchange, broker, and clearing agency.

In response, Coinbase filed an appeal, arguing that the SEC’s actions are unjust and unconstitutional. The exchange claimed the lawsuit infringed on Congress’s authority to create laws.

Binance asked for clearer rules on how federal securities laws apply to crypto. The SEC’s refusal to approve the exchange’s request led to calls for court intervention.

As reported by Coinspeaker, the court sided with Coinbase, ordering the SEC to clarify its decision to reject the petition for crypto-specific regulations.

Senator Lummis, a staunch crypto and blockchain technology advocate, backed Coinbase’s position. In her brief, Lummis argued that the SEC’s aggressive approach to crypto registration is legally flawed and fundamentally un-American.

She criticized the agency’s classification of many digital assets as securities under Chair Gary Gensler. This move enforces strict registration rules that do not fit well with how digital assets work.

The Republican Senator criticized the SEC for being secretive and unfair in enforcing rules. She accused the agency of changing securities laws without being open or accountable.

She emphasized that Congress, not the SEC, has the constitutional authority to set the securities and commodities regulation framework.

Lummis emphasized the need for clear and fair laws to guide the future of the crypto industry. She urged the Second Circuit Court to step in and define the limits of the SEC’s authority.

Shifting SEC Stance Under a New Administration

Senator Lummis is gaining influence, especially with her new role as chair of the Senate Banking Committee panel focused on digital assets. She is working on bills to define the SEC’s role and pushing for laws that create a fairer balance for crypto regulation.

This includes one that would have digital asset exchanges register with the US Commodity Futures Trading Commission (CFTC) instead of the SEC. With President Donald Trumpnow in office, Senator Lummis expects the landscape for crypto regulation to undergo significant changes.

President Trump has nominated Paul Atkins, a crypto-friendly former regulator, as the new head of the SEC. Many in the crypto community hope the agency’s stance on digital assets could become more favorable.

This is due to Atkins’s background in supporting less stringent regulations for digital assets. This shift could lead to clearer guidelines and boost confidence in the market.n

@ Newshounds News™

Source:  CoinSpeaker

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ARIZONA SENATE COMMITTEE APPROVES STRATEGIC BITCOIN RESERVE BILL

Arizona's move to explore digital asset investments, like Bitcoin, signals a growing trend among states to diversify public funds.

▪️Arizona's Senate Finance Committee approved a bill allowing public funds to invest in Bitcoin.

▪️The bill permits investment of up to 10% of public funds in virtual currencies like Bitcoin.

Arizona lawmakers have advanced a bill allowing public funds to invest in Bitcoin and other digital assets, with the state Senate Finance Committee approving the measure in a 5-2 vote on January 27.

Co-sponsored by Wendy Rogers and Jeff Weninger, the proposed legislation, known as SB1025 or “Arizona Strategic Bitcoin Reserve Act,” allows the state to invest up to 10% of public funds, including those held by the state treasurer and retirement systems, in virtual currencies like Bitcoin.

The bill also includes provisions for storing digital asset holdings in a secure segregated account within a potential federal Strategic Bitcoin Reserve if the Secretary of the Treasury establishes a strategic Bitcoin reserve for government holdings.

The US Senate on Monday also confirmed Scott Bessent as Treasury Secretary on a vote of 68 to 29, with bipartisan support. As a supporter of Trump’s economic policies, Bessent opposes a central bank digital currency and is seen as pro-Bitcoin.

Following its passage through the Finance Committee, Arizona’s Bitcoin reserve bill now moves to the Senate Rules Committee, which will set parameters for floor debate and amendments. If approved by the full Senate, the measure will proceed to the House of Representatives.

According to Dennis Porter, CEO and co-founder of the Satoshi Action Fund, Arizona is the first state to have a bill specifically focused on creating a Bitcoin reserve pass through a legislative committee.

If this bill becomes law, Arizona would be the first state to officially invest public funds in Bitcoin.

As of Jan. 27, eleven states have introduced their respective Bitcoin reserve bills, according to Porter. He noted in a separate post, "I can confirm that at least 15 states will introduce ‘Strategic Bitcoin Reserve’ legislation. Maybe even 16."  He also noted, "As a reminder, only 3 months ago this number was zero."
@ Newshounds News™

Source:  CryptoBriefing

~~~~~~~~~

U.S. CRYPTO RESERVES SHOULD INCLUDE XRP TOO: RIPPLE CEO GARLINGHOUSE

▪️Ripple CEO advocates for a U.S. crypto reserve to include Bitcoin and other tokens.

▪️Brad Garlinghouse calls for collaboration, not competition, within the crypto industry.

▪️Bitcoin supporters argue only Bitcoin should be included in the U.S. crypto reserve.

Brad Garlinghouse, the CEO of Ripple, has stirred up the conversation around the U.S. government’s plans to create a national digital asset reserve.

While some Bitcoin supporters argue that only Bitcoin should be included, Garlinghouse believes that the reserve should be more inclusive, featuring Bitcoin alongside other cryptocurrencies like Ripple’s XRP. His bold stance challenges the status quo and raises important questions about the future of digital assets.

Brad Garlinghouse thinks collaboration, rather than competition, is the key to crypto’s success.

A Vision for Crypto’s Growth

Garlinghouse’s main message is that the cryptocurrency industry can thrive more if different cryptocurrencies work together instead of competing against each other. In a recent tweet, he pointed out that focusing on one cryptocurrency over others is not the way forward. He believes success in the industry will come through collaboration, not rivalry.

He stressed that the crypto market should not be a “zero-sum game,” where the success of one digital asset means the failure of another. Garlinghouse, who owns multiple cryptocurrencies, including XRP, Bitcoin, and Ethereum, wants a fairer playing field where all digital assets can succeed.

Why a Diversified Digital Reserve Matters

Garlinghouse believes any government-backed digital asset reserve should be diversified.

“If a government digital asset reserve is created, I believe it should be diversified. It should include more than just one token, whether it’s BTC, XRP, or any other.”

Ripple has been actively working with U.S. regulators to ensure XRP is part of the conversation about digital asset reserves. Garlinghouse believes that having a balanced reserve will help grow the cryptocurrency industry as a whole, benefiting more than just Bitcoin.

Bitcoin Supporters Push Back

Garlinghouse’s suggestion has faced criticism from some Bitcoin supporters. Pierre Rochard, Vice President of Riot Platforms, argues that Bitcoin’s decentralized nature makes it the only suitable cryptocurrency for the reserve. He also believes Ripple is lobbying to get XRP included.

Ryan Selkis, CEO of Messari, shares this viewpoint, stating that Bitcoin’s unique features make it a better fit for the reserve than other cryptocurrencies.

As the U.S. government considers creating a national digital asset reserve, the question remains: will it include only Bitcoin, or will it be open to other cryptocurrencies, as Garlinghouse suggests? This decision could have a big impact on the future of the crypto industry.

@ Newshounds News™

Source:  CoinPedia

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Seeds of Wisdom RV and Economic Updates Tuesday Morning 1-28-25

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SENATE CONFIRMS PRO-CRYPTO SCOTT BESSENT AS US TREASURY SECRETARY

As US Treasury secretary, billionaire hedge fund manager Scott Bessent will have sway over fiscal policy, financial regulations, international sanctions and overseas investments.

The US Senate has confirmed Donald Trump’s pick for US Treasury secretary, billionaire hedge fund manager Scott Bessent.

On Jan. 27, the Senate voted 68 to 29 to confirm Besset, with 16 Democrats supporting the nomination.

Ripple CEO Brad Garlinghouse congratulated Bessent on X, adding that he was “confident he’ll enact common-sense economic policies, working with the Administration and Congress to grow US tech and crypto innovation.”

As Treasury secretary, Bessent will have influence over the nation’s tax collections and its $28 trillion Treasury debt market. He will also have sway over fiscal policy, financial regulations, international sanctions, and overseas investments.

The 62-year-old Tennessee lawmaker strongly supports Trump’s economic agenda, including the renewal of $4 trillion in expiring tax cuts, the implementation of tariffs, and increased oil production. He also pushed back against the idea that Trump’s policies would be inflationary, Reuters reported.

During his confirmation hearing, Bessent said that government spending was “out of control.”

Bessent is known to be pro-crypto and against the notion of a central bank digital currency along with President Trump. “I see no reason for the US to have a central bank digital currency,” he said in a Jan. 16 Senate Finance Committee hearing.

He’s also said a central bank digital currency is for countries that have “no other investment alternatives” and are “doing it out of necessity.”

Bessent told Fox Business in July that he has “been excited about the president’s embrace of crypto, and I think it fits very well with the Republican Party. Crypto is about freedom, and the crypto economy is here to stay.”

Under Trump’s Jan. 23 crypto executive order, the Treasury will take a role in the governmental working group to hash out the strategy for US crypto policy.

Trump’s AI and crypto czar David Sacks, and the chairs of the Securities and Exchange Commission and the Commodity Futures Trading Commission will also form part of the working group.

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

CFTC ACTING CHAIR PHAMS CALLS ROUNDTABLE TO TACKLE CRYPTO ISSUES

Caroline Pham said the CFTC would “get back to basics” by hosting a series of roundtable talks with crypto industry leaders to address regulatory pain points.

On Jan. 27, Caroline Pham, acting chair of the Commodity Futures Trading Commission, said that the regulator plans to engage with digital asset stakeholders to discuss market structure and prediction markets as the U.S. pivots toward greater crypto adoption.

According to Pham, the CFTC “must take a forward-looking approach” to resolve conflicts of interest and policy gaps left by the previous administration.

Innovation and new technology has created a renaissance in markets that presents new opportunities that are accessible to more people, as well as risks. The CFTC will get back to basics by hosting staff roundtables that will develop a robust administrative record with studies, data, expert reports, and public input.  ~  Caroline Pham, acting CFTC chair

Pham’s decision to include prediction markets in the roundtables could reignite speculation over the CFTC’s stance on the sector. Previously, former chair Rostin Behnam criticized prediction markets, declaring them harmful to public interest.

Prediction markets like Polymarket and Kalshi gained prominence toward the end of last year. These platforms, which allow users to wager on real-world outcomes, became popular sources of electoral data, accurately predicting the winner of the general elections and several other races.

The CFTC previously sued Kalshi to halt its political betting contracts, initially winning in court. However, Kalshi eventually secured court approval to list its presidential outcome markets for U.S. customers. Notably, Polymarket remained unavailable to American users at the time of publication.

The roundtable discussions will occur over several months to align agency mandate with industry development, Pham said in her CFTC-issued statement.

Pham was selected to head the regulatory by President Donald Trump last week as part of the first official steps to overhaul anti-crypto sentiment entrenched in U.S. market watchdogs.

While she is acting chair, Behnam will formally leave the commission on Feb. 7. Trump’s preferred nominee to succeed Behnam has not yet been announced, and it is unclear how long Pham will serve as acting chair.

@ Newshounds News™

Source:  Crypto News

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Seeds of Wisdom RV and Economic Updates Monday Evening 1-27-25

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DEEPSEEK AI DEBUT SPARKS CRYPTO MARKET SELL-OFF AMID RISING TECH COMPETITION

The release of DeepSeek, a Chinese artificial intelligence (AI) model designed to rival OpenAI's ChatGPT, triggered a sell-off in U.S. tech stocks, bringing crypto down too. But analysts say cheaper AI may actually be good news for the space.

This advanced model is reportedly faster and cheaper than its American counterpart, offering features such as natural language processing and integration capabilities that position it as a direct competitor in the global AI arms race. 

Cheaper AI models benefit both crypto and broader AI consumers by lowering the cost barrier to access advanced AI tools.

Over the past 24 hours, Bitcoin (BTC) fell by 4% to $100,000, while Ethereum (ETH) dropped by 6% to $3,100. Meanwhile, the total market capitalization of cryptocurrencies fell by 8%, dropping to $3.52 trillion, according to CoinGecko. Liquidations over the past 24 hours totaled nearly $1 billion, according to CoinGlass.

Knee-Jerk

The debut of DeepSeek, coupled with intensifying competition in the AI sector, is reshaping investor sentiment across both tech stocks and the cryptocurrency market. Investors are selling riskier assets as they take time to digest this new information and how it might affect their holdings.

Jean Rausis, co-founder of decentralized finance ecosystem SmarDex, noted that the drop in crypto prices is more of a knee-jerk reaction to tech news rather than a direct consequence of the DeepSeek release itself.

“Because crypto trades 24/7, it’s often the go-to when big tech news breaks and the US market is closed – even if it has nothing to do with Bitcoin or other cryptocurrencies,” Rausis said.

Crypto’s strong correlation with the Nasdaq underscores its position within the same investment category as tech stocks, Rausis added, explaining that both markets often respond similarly to major news due to shared investor sentiment and overlapping liquidity sources.

“Investors in crypto share the same mindset as tech stockholders, and the liquidity sources are often the same, so they often move in tandem when big tech news breaks,” he said. “It doesn’t really have anything to do with fundamentals – just sentiment.”

Long-Term Positive

Despite the initial panic, Rausis believes competition in AI is ultimately positive for consumers and aligns with crypto’s ethos of decentralization. “For traders, this volatility could just be an opportunity to buy in at a lower price,” he said.

Anthony Pompliano, Founder & CEO of Professional Capital Management, echoed Rausis’ sentiment in a post on X this morning. He said that while DeepSeek’s launch sparked uncertainty and volatility in the market, broader access to AI should be long-term positive.

“More companies are able to leverage the technology to create economic activity and drive GDP growth,” Pompliano wrote. “Individuals should be able to save time and become more effective at their jobs. And more problems will be solved. So Deepseek’s innovation will drive more use of AI, rather than less. This is all positive on a macro basis.”  

Fake DeepSeek Token

Amid the market drop, a fraudulent token claiming ties to DeepSeek briefly surged to a $48 million market cap on Solana, only to plunge to $6 million, according to Bird Eye. Created weeks before DeepSeek’s release, the token exploited the hype surrounding the AI model.

 “DeepSeek has not issued any cryptocurrency,” the team stated, clarifying that it operates only one verified X account.

@ Newshounds News™

Source:  The Defiant

~~~~~~~~~

BRICS TO INTRODUCE BITCOIN RESERVE? US EXPERT SAYS ITS POSSIBLE

Both the BRICS alliance and the United States have been engaged in some brewing geopolitical conflict over the last month. With US President Donald Trump eyeing a steep 100% tariff threat, all eyes are on what the bloc could do. Moreover, with both sides looking to continue their growth in the digital asset class, one expert says BRICS could be set to introduce its own Bitcoin reserve.

The news follows the announcement that the US would be introducing its own cryptocurrency stockpile. Although it is not the strategic BTC reserve many had hoped, it still will see the country firmly embrace the asset class. In response, one expert notes that the global south could turn to the leading cryptocurrency by market cap.

BRICS Bitcoin Reserve a Possibility as Nations Begin Cryptocurrency Embrace

The United States has firmly embraced cryptocurrencies since Donald Trump was inaugurated last week. Indeed, he has already ordered the asset to become a “national priority.” Meanwhile, speaking at the World Economic Forum, he claimed the country would soon become the “world capital” of AI and crypto.

That has led many to theorize what the rest of the world could do. Specifically, a host of nations are seeking to also implement similar action. Chief among them is the BRICS alliance, which one expert says could turn to create its own Bitcoin reserve.

US Space Force officer Jason P. Lowery recently took to X (formerly Twitter) to discuss the prospects. Specifically, he discussed the economic alliance’s prospects for its own cryptocurrency initiatives. However, he noted one token remained key.

“Do you really think BRICS is interested in adding a meme coin to their reserves, or one controlled by an American CEO?” Lowery said of crypto options like XRP. “Do you believe they’d choose a USD stablecoin issued by an American company trying to position itself as a neo-Federal Reserve Bank?” he further questioned.

“Or are they far more likely to adopt the coin that has been relentlessly vilified and condemned by the US for over 15 years?” he added. “That coin guarantees covering access to block space, ensuring transactions cannot be censored or denied, provided they continue to possess the physical power and infrastructure ‘they’ve already invested in."

This echoes similar sentiments made by Russian President Vladimir Putin himself. The leader applauded Bitcoin. Moreover, he noted that it is an asset that cannot be controlled. As the bloc has struggled against sanctions and US dollar weaponization, this seems increasingly important.

@ Newshounds News™

Source:  Wattcher Guru

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Seeds of Wisdom RV and Economic Updates Monday Afternoon 1-27-25

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RIPPLE SECURES LICENSES IN NEW YORK AND TEXAS, EXPANDING U.S. FOOTPRINT

In a latest development, Ripple has obtained Money Transmitter Licenses (MTLs) in New York and Texas, further expanding its presence in the U.S.

These licenses enable Ripple to offer compliant cross-border payment services, enhancing its ability to provide financial institutions and crypto businesses with faster, more efficient payment solutions. This news comes as firms are prepared for a crypto-friendly regulatory regime under President Donald Trump.

Notably, MTLs allow Ripple Payments customers to access a licensed version of its cross-border payments solution in the U.S., where transactions are managed end-to-end by Ripple on behalf of the customers.

55 Global Approvals

In addition to the two new MTLs, Ripple’s license portfolio now totals around 55 global approvals, including the prestigious New York BitLicense and a Limited Purpose Trust Company Charter.

“We’re continuing to see more interest from financial institutions to crypto businesses that want to unlock the benefits of crypto and blockchain for faster, cost-efficient and 24/7 cross-border payments,” Joanie Xie, Ripple Managing Director of North America, noted.

“With years of experience working in both crypto and with financial institutions, Ripple is well-positioned to support companies who are ready to take advantage of the current landscape.”

Its other regulatory approvals include registration as a VASP in Ireland and the Cayman Islands, and an in-principle license in Dubai. Ripple Payments has also grown its client base in North America, adding new partners like Bancoli, CambioReal, and GeoSwift in 2024, helping clients navigate the evolving financial ecosystem.

A Significant Shift Ahead?

Ripple’s recent U.S. regulatory approvals align with the Trump administration’s favorable stance on cryptocurrencies. It also noted that the U.S. industry players are optimistic about the upcoming four years, expecting a more crypto-friendly environment under President Donald Trump.

In a related move, the SEC recently repealed SAB 121, which had placed stringent conditions on banks providing digital asset custody services. This policy change is viewed as a significant step toward the broader integration of blockchain technology into traditional financial systems.

@ Newshounds News™

Source:  Coinpedia

~~~~~~~~~

OKX, CRYPTO.COM SECURE FULL MICA LICENSES TO REACH 400M POTENCIAL EU USERS

While some major exchanges, including Binance, have sought alternative regions due to regulatory challenges, OKX and Crypto.com have doubled down on their commitment to Europe.

▪️OKX and Crypto.com secured full MiCA licenses, enabling seamless crypto services across 30 EEA markets for 400+ million users.

▪️OKX offers 240+ crypto tokens, 260 trading pairs, free euro deposits, and diverse trading tools like bot trading.

▪️MiCA’s harmonized framework empowers long-term crypto growth, with Europe emerging as a hub for blockchain innovation.

OKX and Crypto.com reached a major milestone on January 27 by obtaining full licenses under the European Union’s Markets in Crypto-Assets Regulation (MiCA). The Malta Financial Services Authority (MFSA) granted regulatory approval to both platforms, enhancing their operations across the European Economic Area (EEA).

The MiCA license empowers OKX and Crypto.com to provide regulated crypto services across the EEA. This is facilitated by MiCA’s “passporting” feature, which allows licensed entities to operate seamlessly in EU nations under a unified regulatory framework. Consequently, users in the region gain improved access to secure and reliable cryptocurrency services.

Expanding Services for EEA Users

OKX aims to expand its newly licensed operations by providing diverse services such as spot trading, bot trading, and over-the-counter (OTC) crypto token transactions. The platform will adapt its website and mobile app to local languages, currency options, and regional customer support, ensuring accessibility for users in specific markets.

Similarly, Crypto.com plans to deliver a variety of cryptocurrency services tailored for European users. With its license, the company seeks to maintain a seamless and compliant experience across international borders, solidifying its presence in the EU market.

Erald Ghoos, CEO of OKX Europe, highlighted the critical role of the MiCA license as a key achievement in promoting responsible leadership within the cryptocurrency industry. He noted that the Malta Financial Services Authority is globally recognized for its robust regulatory framework.

“The MiCA regulation in the EU is particularly forward thinking as it’s harmonized across the region. Through passporting, MiCA allows us to reach more than 400 million potential customers in 30 EEA markets,” said Ghoos.

MiCA Sets the Stage for Crypto Growth

OKX now provides regulated access to over 240 crypto tokens and 260 trading pairs, including 61 euro-crypto options, under MiCA-compliant operations. Users can deposit and withdraw euros for free via bank transfers or purchase cryptocurrencies using cards and reliable payment methods.

The MiCA framework enables crypto users to explore long-term investments, trading opportunities, and tools like automated bot trading. Ghoos emphasized Europe’s vast potential as a hub for blockchain and digital assets, stating that the license establishes a solid foundation for industry growth in the region.

While some major exchanges, including Binance, have sought alternative regions due to regulatory challenges, OKX and Crypto.com have doubled down on their commitment to Europe.

By embracing MiCA’s framework, the two platforms are setting a precedent for others to follow. Apart from OKX and Crypto.com, Bitpanda also secured MiCA license in Germany.

@ Newshounds News™

Source:  CoinSpeaker

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