DINARRECAPS8 2/9/25 DINARRECAPS8 2/9/25

The “Wait and See” Phase for Gold is Over

Notes From the Field By James Hickman (Simon Black) February 6, 2025

In the year 1025, the Byzantine Empire stood at the height of its final golden age.

Basil II had just died, leaving behind a vast and wealthy empire stretching from Southern Italy to Armenia. At the heart of its economy was the solidus, a gold coin that had served as the bedrock of Mediterranean trade for centuries. Merchants from Venice to Baghdad had so much confidence in its purity that the solidus became the primary currency for international trade as far away as China.

And this ‘reserve currency’ status allowed Byzantium to project economic power far beyond its borders.

Notes From the Field By James Hickman (Simon Black) February 6, 2025

In the year 1025, the Byzantine Empire stood at the height of its final golden age.

And this ‘reserve currency’ status allowed Byzantium to project economic power far beyond its borders.

But as the empire declined, so did its currency. Successors debased the solidus to cover military costs, mixing in copper and silver until it was barely recognizable.

By the late 11th century, merchants could no longer rely on the Byzantine government to maintain the purity of the solidus... so traders turned to a new, up-and-coming alternative: the Venetian ducat.

This pattern has repeated itself for thousands of years: reserve currencies come and go, and are eventually displaced by another.

Before the solidus, Rome had set the standard with its denarius, but centuries of inflation and political collapse led to its demise.

After Venice, the Spanish real de ocho became the world’s preferred trade currency, thanks to galleons loaded with New World silver. When Spanish power faded, the Dutch guilder took over, only to be replaced by the British pound sterling, which reigned until two world wars left Britain financially exhausted.

Even the US dollar, during its first two and a half decades as the global reserve currency, was based on gold, until in 1971, the dollar was removed from the gold standard.

The whole concept of fiat currency (i.e. paper currency which relies entirely on trust and confidence of the issuing government) holding coveted reserve status is a new phenomenon.

That means trusting the largest debtor in the history of the world, trusting the US financial system, abiding by the US government’s regulations, and dealing with the whims of their central bank—despite its mismanagement, soaring debt, and reckless policies.

So much can go wrong. And at some point in the future—whether years or decades from now—the US dollar will lose its status as the world’s reserve currency.

No currency has ever held that title forever, and it’s naive to assume the dollar will be the exception.

When that moment comes, future historians will look back in astonishment, wondering how it lasted as long as it did. Because a system built entirely on trust can only survive as long as that trust remains.

And for most of this century, the US government has proven time and again that it cannot be trusted.

We explore this topic in depth in today’s podcast, and discuss how and why gold will be the beneficiary of the dollar’s loss.

We also discuss:

The short term “wins” possible by using tariffs as a political tool
The long term damage to the dollar done by threatening allies
What could replace the dollar as the global reserve currency
The benefits of holding physical gold (for individuals and central banks)
Investments that offer exposure to gold’s upside, without paying all time highs for physical bullion

We also mention a gold company that we are profiling this month for subscribers to our investment research newsletter, The 4th Pillar, which focuses on real asset investments.

You can listen to the podcast here.

(For the audio-only version, check out our online post here.)

To your freedom, James Hickman Co-Founder, Schiff Sovereign LLC

https://www.schiffsovereign.com/trends/the-wait-and-see-phase-for-gold-is-over-podcast-152055/

DINARRECAPS8 2/8/25 DINARRECAPS8 2/8/25

Seeds of Wisdom RV and Economic Updates Saturday Afternoon 2-8-25

Good Afternoon Dinar Recaps,

COINBASE TO FACE LAWSUIT OVER UNREGISTERED SECURITIES SALES, JUDGE RULES

Coinbase said the judge’s opinion “narrowed the scope of discovery in this case,” adding, “We look forward to vindicating the remaining claims” in court.

A US federal judge has rejected Coinbase’s argument that it does not meet the definition of a “statutory seller” under federal law, forcing the cryptocurrency exchange to face an investor lawsuit in the state of New York.

Good Afternoon Dinar Recaps,

COINBASE TO FACE LAWSUIT OVER UNREGISTERED SECURITIES SALES, JUDGE RULES

Coinbase said the judge’s opinion “narrowed the scope of discovery in this case,” adding, “We look forward to vindicating the remaining claims” in court.

A US federal judge has rejected Coinbase’s argument that it does not meet the definition of a “statutory seller” under federal law, forcing the cryptocurrency exchange to face an investor lawsuit in the state of New York.

According to a Feb. 7 Reuters report, US District Judge Paul Engelmayer has compelled Coinbase to face plaintiffs’ allegations that it sold securities without registering as a broker-dealer. Specifically, the plaintiffs accused Coinbase of selling 79 cryptocurrencies that were securities without proper registration.

As Cointelegraph reported, the class-action lawsuit was initially dismissed in the District Court of Southern New York in February 2023. However, the Circuit Court of Appeals revived parts of the lawsuit more than one year later.

As Reuters reported, Judge Engelmayer said that “customers on Coinbase transact solely with Coinbase itself,” which suggests that the exchange was a seller.

In a written response to Cointelegraph, a Coinbase spokesperson said:

“Coinbase does not list, offer or sell securities on its exchange. Today’s opinion importantly narrowed the scope of discovery in this case, which is significant. We look forward to vindicating the remaining claims in the district court.”

Ongoing lawsuit with the SEC

Coinbase has been mired in a lawsuit with the US Securities and Exchange Commission since June 2023, when the regulator accused the exchange of operating an unregistered securities platform and failing to register as a broker.

In January, Coinbase asked a US appeals court to rule that cryptocurrency trades are not securities. In the filing, Coinbase argued that trades facilitated on its platform should not be classified as securities trades “but asset sales of digital assets rather than physical ones.”

Coinbase has also sued the SEC and Federal Deposit Insurance Corporation for allegedly attempting to “cut off digital-asset firms from essential banking services.” The exchange also alleged that both agencies failed to comply with Freedom of Information Act requests.

Coinbase plays a major role in the US cryptocurrency market. It’s not only the country’s largest crypto exchange by trading volume but is also the largest custodian for the US spot Bitcoin exchange-traded funds.

@ Newshounds News™

Source: CoinTelegraph

~~~~~~~~~

PETER SCHIFF SLAMS BITCOIN SUPER BOWL AD, SPARKS DEBATE

Peter Schiff criticized a Bitcoin Super Bowl ad, accusing it of false advertising for claiming Bitcoin is backed by energy.

He argued Bitcoin neither stores nor can be redeemed for energy, urging FTC intervention.

In response, Dan Victor, CFA, highlighted that Bitcoin relies on decentralized computing power, which requires energy.

Schiff dismissed this as semantics, asserting Bitcoin resembles fiat currency, backed by faith rather than tangible assets like gold.

This sparked renewed debate over Bitcoin’s intrinsic value, especially as mainstream promotions like Super Bowl ads amplify crypto’s reach.

@ Newshounds News™

Source: Coinpedia

~~~~~~~~~

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Dinar Recaps 20 2/8/25 Dinar Recaps 20 2/8/25

Gold Shortage Coming? Why $82 Billion Left London Ahead of Trump Tariffs

Gold Shortage Coming? Why $82 Billion Left London Ahead of Trump Tariffs

Daniela Cambone: 2-7-2025

A dramatic shift is occurring in the global gold market as a significant amount of bullion, estimated at $82 billion, is being withdrawn from the vaults of the Bank of England and shipped across the Atlantic to New York.

This exodus raises questions about the stability of London as a gold trading hub and highlights growing anxieties surrounding potential trade disruptions.

The primary driver behind this movement appears to be the looming threat of new tariffs on gold imports into the United States. According to veteran gold market analyst Adrian Day

Gold Shortage Coming? Why $82 Billion Left London Ahead of Trump Tariffs

Daniela Cambone: 2-7-2025

This exodus raises questions about the stability of London as a gold trading hub and highlights growing anxieties surrounding potential trade disruptions.

The primary driver behind this movement appears to be the looming threat of new tariffs on gold imports into the United States. According to veteran gold market analyst Adrian Day, as interviewed by Daniela Cambone on ITM Trading, the fear is that a future Trump Administration could impose hefty tariffs on gold coming from Europe and Britain.

“No one wants to import gold from Europe or Britain… if there’s a 10 or 20 or 30 percent tariff, no one’s going to do that,” Day explained.

Traders are preemptively relocating their gold reserves to the U.S. in anticipation of these potential levies, effectively stockpiling the precious metal within American borders.

This mass migration could temporarily create premiums due to supply and demand imbalances. However, Day emphasizes that this is likely a short-term phenomenon and won’t fundamentally alter the long-term demand or price of gold.

He believes that more significant drivers are at play, including continued central bank buying, robust consumer demand from China, and the potential for a weakening U.S. dollar. These factors, he argues, will continue to underpin gold’s value regardless of short-term tariff-related fluctuations.

While Day believes the tariff-driven gold shift is a noteworthy development, he is far more concerned about the overall health of the U.S. stock market.

He paints a concerning picture, stating that the market is in a “very dangerous situation” with what he describes as “the worst breadth in its history.” This suggests a growing divergence between the performance of a few mega-cap stocks and the overall market, potentially indicating a bubble waiting to burst.

The current gold rush from London to New York, fueled by fears of impending tariffs, underscores the sensitivity of global markets to political uncertainty and potential trade wars.

While the shift may create temporary market distortions, experts like Adrian Day believe that the long-term fundamentals driving gold demand remain strong. However, his warnings about the U.S. stock market’s fragility should serve as a reminder that macroeconomic risks extend beyond the precious metals market.

The coming months will be crucial in determining whether these fears materialize and how the global economy will respond.

https://youtu.be/w6sQ91pboIw

DINARRECAPS8 2/8/25 DINARRECAPS8 2/8/25

Seeds of Wisdom RV and Economic Updates Saturday Morning 2-8-25

Good Morning Dinar Recaps,

INDIA OFFICIALLY REJECTS BRICS CURRENCY, CALLS IT ‘IMPOSSIBLE’

India officially confirmed that they do not support the formation of a BRICS currency to challenge the US dollar. The Modi government made it clear that India embraces the US dollar and will use the currency for cross-border transactions.

The country will settle payments in local currencies with other developing nations only when it seems fit. The U-turn comes after Trump spared India from tariffs but imposed them on Canada, Mexico, and China.

Good Morning Dinar Recaps,

BRICS member China might not take India’s stance lightly as the Communist country wants to launch the new currency. It is working closely with Russia and Iran for the formation of the currency to uproot the US dollar’s global dominance.

BRICS: India Says ‘Cannot Share a Currency With China’

Union Commerce Minister Piyush Goyal confirmed that India does not support any form of BRICS currency. He made it clear that India does not want to share a common currency with China.

For the uninitiated, India and China have been at loggerheads for more than five decades with border disputes and trade wars. Accepting China’s stance would make the Modi government look weaker and hamper its electoral prospects.

“We are on record—We don’t support any BRICS currency. Imagine us having a currency shared with China. We have no plans. It is impossible to think of a BRICS currency,” said India’s Union Commerce Minister Piyush Goyal during a press conference at the IT-BT roundtable 2025 in New Delhi, reported Business Today.

However, the plans to launch a BRICS currency are still alive as China, Russia, and Iran are pursuing the idea. De-dollarization is the first and foremost goal of the trio as they aim to end reliance on the US dollar.

@ Newshounds News™

Source: Watcher Guru

~~~~~~~~~

RIPPLE NEWS: XRP DEPOSITORY RECEIPTS TO BE OFFERED TO ACCREDITED INVESTORS

▪️XRP DRs Launch – Accredited investors can now gain regulated XRP exposure via Depository Receipts, simplifying institutional crypto access.

▪️Secure & Regulated – XRP DRs are held by Anchorage, a federally regulated bank, ensuring safe custody and compliance for institutional investors.

XRP depository receipts (DRs) will soon be available for purchase by accredited investors through Receipts Depositary and DWP Advisors, according to reports from Fox Business Eleanor Terrett. This new financial product offers a regulated way for investors to gain exposure to XRP without purchasing the cryptocurrency directly from exchanges.

The concept of XRP DRs is similar to traditional American Depository Receipts (ADRs), which represent shares of foreign companies listed on U.S. exchanges.

The XRP DRs will represent ownership of the underlying XRP, providing investors an easy way to gain exposure to the asset without the complexities of directly trading it on crypto exchanges.

These DRs offer similar benefits to exchange-traded funds (ETFs), making it easier for institutional investors to access crypto assets.

This launch is considered a major step in bridging the gap between traditional finance (TradFi) and decentralized finance (DeFi), as it makes digital assets more accessible to a broader audience.

Custody and Regulation: Anchorage and the OCC

The XRP DRs will be held by Anchorage, a federally chartered bank regulated by the U.S. Office of the Comptroller of the Currency (OCC).

Anchorage is a trusted institution specializing in secure custody for crypto assets, ensuring that the XRP behind the DRs is safely managed within a regulated framework. This adds a layer of security and confidence for institutional investors looking to enter the crypto space.

Expanding Product Offerings

Receipts Depositary Corporation (RDC), the company behind the XRP-backed securities, has been steadily expanding its product offerings. This expansion offers institutional investors more ways to engage with cryptocurrency in a regulated market environment.

The Advantages of XRP Depository Receipts

Unlike ETFs, where shares are redeemed for cash, XRP DRs provide accredited investors with direct ownership of XRP. This gives investors the opportunity to hold the asset directly while benefiting from a structured and regulated investment vehicle. This difference could appeal to institutions that seek direct ownership of digital assets but require compliance with traditional financial market regulations.

@ Newshounds News™

Source: Coinpedia

~~~~~~~~~

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DINARRECAPS8 2/8/25 DINARRECAPS8 2/8/25

How to Buy Gold at Just $1,500 an Ounce

Notes From the Field By James Hickman (Simon Black) February 5, 2025

In the late 1990s, the Internet was brand new... and sizzling hot. And most people thought it would bring radical change to the world, practically overnight.

This is a common theme with disruptive technology. Enthusiasts often overestimate the impact of new technology in the short run, and underestimate its impact in the long run. Such is the case with AI today.

How to Buy Gold at Just $1,500 an Ounce

Notes From the Field By James Hickman (Simon Black) February 5, 2025

In the late 1990s, the Internet was brand new... and sizzling hot. And most people thought it would bring radical change to the world, practically overnight.

But the euphoria over the Internet in the 1990s compelled investors to pour money into Internet startups— companies with no profits, no cash flow, and no real business model.

In fact, a joke emerged from this era which perfectly described many of these infamous dot-coms: “We lose money on every sale, but we make up for it in volume.”

But it didn’t matter. Dot-coms were the meme companies of their day. And even the most ridiculous businesses that claimed to have anything to do with the Internet commanded outrageously high valuations.

Meanwhile, actual real businesses that didn’t have anything to do with the Internet, like boring old ExxonMobil, were completely ignored by investors.

Exxon was a great example because oil prices at the time sat at a modest $30 per barrel, and most people simply assumed that oil would stay cheap forever. So Exxon traded at just 11 times earnings, generated over $17 billion per year, and even paid a healthy dividend to the shareholders who had the foresight to own it.

Common sense eventually prevailed, and all of the pie-in-the-sky dot-coms went to money heaven. And the real businesses, like Exxon, survived the hype cycle and prospered.

Today, there are plenty of super sexy businesses which have become incredibly popular with investors. A lot of them are really overvalued.

And just like Exxon back in the late 1990s, nobody is paying attention to other profitable, extremely undervalued, real asset businesses.

Personally I think oil could get a lot more expensive from here. And there are some really undervalued oil companies to consider, just like there were in the 90s.

But the really obvious example I want to talk about today is gold.

Gold is still hovering near its all time high. And as we’ve discussed many times before, there are a number of catalysts which could drive the price much higher from here.

There has already been a coordinated effort by several countries to de-dollarize.

BRICS— Brazil, Russia, India, China, and South Africa— hold conferences explicitly discussing how to move away from the US dollar. And both the amount of global trade in dollars, as well as the share of American dollars held as reserves by central banks, has been steadily declining.

Central banks and foreign governments own trillions worth of US dollar reserves. And the reason the gold price reached this all time high, is because those foreign governments and central banks traded a tiny percentage of their dollars for gold.

That additional demand was enough to send the gold price soaring to almost $3,000.

So if this anti-dollar trend continues—or even accelerates— we could see $5,000 or even $10,000 plus gold.

These foreign governments and central banks, however, only buy physical gold. They do not buy shares in gold companies.

So while the gold price is near its all time high, gold companies are trading at ridiculously low levels.

Here’s a great example.

The company that we’re profiling in the upcoming edition of our investment research newsletter, The 4th Pillar, is one such undervalued gold business.

It’s a mining company with outstanding properties and a fantastic long term earnings horizon. It operates in an absolutely tier-one jurisdiction with minimal geopolitical risk— i.e. not the Congo or Nicaragua.

Its balance sheet is pristine with no debt. Yet they have a very strong cash position.

Due to their operating efficiencies, their production cost is quite reasonable at around $1,500 for every ounce of gold that they mine.

Yet the market is valuing them at a low, single digit multiple.

I would encourage you to check out our research to find out more.

I think it’s well worth the price of a subscription— especially because right now we’re having a limited time promotion on The 4th Pillar.

The full report on this particular gold company will be sent to 4th Pillar subscribers over the next few days.

To your freedom, James Hickman Co-Founder, Schiff Sovereign LLC

https://www.schiffsovereign.com/trends/how-to-buy-gold-at-just-1500-an-ounce-152049/

DINARRECAPS8 2/7/25 DINARRECAPS8 2/7/25

Seeds of Wisdom RV and Economic Updates Friday Afternoon 2-7-25

Good Afernoon Dinar Recaps,

HOUSE REPUBLICANS PUSH FORWARD ON STABLECOIN REGULATION WITH NEW DRAFT BILL

▪️Earlier in the week, Sen. Bill Hagerty, R-Tenn., introduced a bill to regulate stablecoins.

▪️The House’s draft version will be brought up in a hearing next week.

House Financial Services Committee Republican Chair French Hill, R-Ark., released draft legislation to regulate stablecoins as U.S. lawmakers forge ahead on rules for those assets.

Good Afernoon Dinar Recaps,

Hill, alongside Rep. Bryan Steill, R-Wis., posted a discussion draft for stablecoins on Thursday, which builds on work done over the years in the House Financial Services Committee.

Steil leads that committee's digital asset-focused panel. Hill and Steil are seeking feedback on the draft, which will be brought up in a hearing next week in the House Financial Services Committee.

“By implementing a clear regulatory structure for payment stablecoins, we can support continued innovation, bolster the U.S. dollar’s position as the world’s reserve currency, and protect consumers and investors," Steil said in the statement.

"I look forward to getting feedback from consumers, issuers, and stakeholders on this draft legislation as we work to provide clear rules of the road for this innovative technology.”

Lawmakers have been working to pass a stablecoin bill for years, with work focused primarily in the House. Now retired former House Financial Services Committee Chair Patrick McHenry, R-N.C., was working with top Democrat Maxine Waters, D-Calif, to create a regulatory framework for stablecoins since 2022. A sticking point for that bill was a provision that allows state regulators to approve stablecoin issuances without Federal Reserve input.

The discussion draft differs slightly from the previous stablecoin bill. For example, it gives the Office of the Comptroller of the Currency the authority to "approve and supervise federally qualified nonbank payment stablecoin issuers " instead of including a federal path through the Federal Reserve for "payment stablecoin issuers."

Work on the Senate side

Earlier in the week, Sen. Bill Hagerty, R-Tenn., introduced a bill to regulate stablecoins called the "Guiding and Establishing National Innovation for US Stablecoins" ahead of a press conference on Tuesday where lawmakers announced they would be forming a working group to write rules for crypto and stablecoins. That working group included members from the House Financial Services Committee, Senate Agriculture Committee, House Agriculture Committee and the Senate Banking Committee.

Senate Banking Committee Chair Tim Scott, R-S.C., highlighted the need to keep innovation in the U.S. while protecting consumers and working on financial inclusion.

"That’s why I’ve led stablecoin legislation with my colleagues in the Senate, and I look forward to working with Chairman Hill and our House counterparts to advance a solution to President Trump’s desk," Scott said.

The discussion draft is not a companion to Hagerty's bill, but Hill and Steil said both show an effort among Republicans to work on key issues.

"Both approaches represent an effort among Republicans to provide the robust protections and transparency consumers expect, provide for federal and state pathways for stablecoin issuance, and secure the United States as the leader in digital finance," they said.

@ Newshounds News™

Source: The Block

~~~~~~~~~

A THIRD OF ALL US STATES NOW EXPLORING BITCOIN, CRYPTO FOR PUBLIC FUNDS

Utah stands out as the state closest to a potential implementation. Its bill would authorize the allocation of 5% to "qualifying digital assets."

A growing wave of U.S. states are pursuing legislation to establish strategic Bitcoin reserves or enable crypto investments for public funds, opening a shift in state-level fiscal policy.

Out of 50 U.S. states, 16 have ongoing legislative considerations and varying statuses.

Utah stands out as the state closest to a potential implementation.

The state's Blockchain and Digital Innovation Amendments bill was passed and recommended on third reading by the Economic Development and Workforce Services Committee through the House, with a majority vote of 8 to 1 on January 28.

Utah's bill would authorize the state treasurer to allocate up to 5% of certain public funds to "qualifying digital assets," as long as they meet the main requirement of having over $500 billion in market capitalization, averaged over the past 12 months.

While the bill does not explicitly mention Bitcoin in its language, only Bitcoin categorically passes the core requirement in terms of market capitalization.

Dennis Porter, CEO of Satoshi Act Fund, pointed out this contention on X after Justin Bechler, a Bitcoin advocate, argued that Porter's characterization of the bill was misleading due to Utah's Money Transmitter Act.

On the Bitcoin trail

Though a total of 17 states have filed for similar proposals,North Dakota's proposal was notably rejected on February 4, according to data visualized by the Bitcoin Reserve Monitor.

Several other states are considering similar moves to allow Bitcoin or crypto for use in public funds.

State-level momentum continues building, with New Mexico becoming the latest entrant. Senator Anthony L. Thornton introduced the Strategic Bitcoin Reserve Act (SB275) on February 4, proposing a 5% allocation of public funds to Bitcoin.

Arizona's Senate Finance Committee has advanced similar legislation, passing SB1025 which would permit up to 10% of public funds, including pension systems, to invest in cryptocurrencies.

Wyoming and Massachusetts have also joined the race, with the latter opening its rainy day funds to be invested in Bitcoin or any digital asset for up to 10% of its stabilization fund.

Texas, meanwhile, has taken a different approach with dual proposals. The state has a Senate bill in the works that would allow up to 1% allocation from its general revenue fund balance.

It also has a separate House bill focused on Bitcoin donations, with provisions for crypto payment conversions to Bitcoin. So far, neither has advanced to law.

From Oklahoma and Missouri to New Hampshire, Pennsylvania, and Ohio, various states in the U.S. have either proposed or pending bills, with the legislative status of these bills across 16 participating states actively being tracked by Bitcoin Reserve Monitor.

@ Newshounds News™
Source: Decrypt

~~~~~~~~~

SEC OFFICIALS INSTRUCTED TO SHRINK CRYPTOCURRENCY ENFORCEMENT TEAM: REPORT

The U.S. Securities and Exchange Commission (SEC) is reportedly downsizing a special unit of more than 50 lawyers and staff members tasked to bring crypto enforcement actions.

Citing five people familiar with the matter, The New York Times reports that a leading lawyer in the unit was pulled out from the enforcement division and some were assigned to other departments within the agency.

The crypto enforcement unit was created during the first Trump administration but it nearly doubled its size in 2022 under previous SEC chair Gary Gensler, who initiated a crackdown on the US crypto industry.

A recent tally reveals that the unit brought more than 100 crypto-related actions during the Biden administration.

It is not yet clear though if the shake-up will affect pending enforcement actions, which include a case involving Coinbase. The crypto exchange is charged with violating federal securities laws by operating an unregistered platform.

The report says some people think that the reorganization constitutes unfair demotion. Corey Frayer, who served as senior adviser to Gensler on crypto issues, also criticizes the SEC’s friendlier stance on digital assets.

“What the new SEC leadership proposes to do for crypto is remove the speed limits and guardrails that have made our capital markets the strongest in the world.”

@ Newshounds News™

Source: DailyHodl

~~~~~~~~~

TRUMP’S ECONOMIC MOVES SHAKE THE CRYPTOCURRENCY MARKET

▪️The BTC price reacted negatively to Trump's comments.

▪️Trump's tariffs are causing turmoil in the cryptocurrency market.

▪️Next week promises further trade announcements impacting global economies.

BTC price dropped again while Trump was speaking. He is making statements regarding the trade war, viewing it as a weapon and leverage for improving the US economy.

The seriousness of the situation became evident recently. Although issues with Mexico and Canada were resolved temporarily, the new president is opening new fronts.

Trump and Cryptocurrencies

Trump’s arrival was fantastic for cryptocurrencies in terms of regulation. However, it is turning out to be disastrous for the global economy. Following China, Mexico, and Canada, he announced that there would be additional tariffs on Japan as well. Moreover, he promises much more. Trump mentioned that he would announce decisions on additional tariffs with several countries next week.

As the weekend approaches with low trading volume, Trump essentially dropped a bomb in the cryptocurrency space.

▪️I will talk with Putin.
▪️I will meet with the President of China.
▪️I will discuss the Nippon agreement with Ishiba.
▪️I will make an announcement regarding mutual trade next week.
▪️Tariffs on Japan are an option.
▪️Tariffs are a way to cover the budget deficit.
▪️Next week, I will announce mutual tariffs for many countries.
▪️I hope to meet with Zelenskiy next week to discuss the security of their rare earth elements.

@ Newshounds News™

Source: CoinTurk News

~~~~~~~~~

MISSOURI BILL PROPOSES BITCOIN RESERVE FUND FOR STATE INVESTMENTS

House Bill 1217, introduced by Representative Ben Keathley, aims to establish a Bitcoin reserve fund for Missouri and mandate crypto acceptance for state payments.

Missouri Representative Ben Keathley introduced House Bill 1217, which proposes the creation of a Bitcoin Strategic Reserve Fund to diversify the state’s investment portfolio.

On Feb. 6, Keathley filed HB 1217, proposing the US state of Missouri diversify its portfolio to include Bitcoin as a hedge against fiat currency inflation. If signed into law, the bill will allow the Missouri treasurer “to receive, invest, and hold Bitcoin under certain circumstances.”

Additionally, Keathley’s HB 1217 proposed a long-term Bitcoin hodl strategy for the state:

“The treasurer shall store all Bitcoin collected under sub-section 2 of this section for a minimum of five years from the date that the Bitcoin enters the state’s custody.”

@ Newshounds News™

Seeds of Wisdom RV and Economic Updates Friday Morning 2-7-25

Good Morning Dinar Recaps,

RIPPLE’S GARLINGHOUSE TO JOIN TRUMP’S U.S. CRYPTO ADVISORY COUNCIL? HERE’S WHO IS IN THE RUNNING

▪️Ripple CEO Brad Garlinghouse is shortlisted for a key role on President Trump’s U.S. Crypto Advisory Council.
▪️The council will address crucial debates, including whether cryptocurrencies should be classified as commodities or securities.
▪️Other prominent crypto leaders, including figures from Kraken, Coinbase, and Circle, are also considered for council positions.

Good Morning Dinar Recaps,

Ripple CEO Brad Garlinghouse is reportedly on the shortlist for a key role on President Donald Trump’s U.S. Crypto Advisory Council. This council, formed by executive order in Trump’s first week back in office, promises to play a pivotal role in shaping the future of cryptocurrency policies in the U.S.

Crypto regulations are certainly going to get a new look now. Is Ripple now on the fast-track to success?

U.S. Crypto Regulations Under Review

Under the Biden administration, many crypto companies faced challenges due to unclear and strict regulations. However, Trump’s push for innovation in digital assets is leading to a new direction.

The advisory council aims to bring industry leaders together to discuss the future of crypto in the U.S. and craft policies that foster innovation while ensuring proper regulation.

Commodities or Securities: A Critical Debate

One of the council’s biggest tasks will be determining whether cryptocurrencies should be classified as commodities or securities. This decision will have a direct impact on which regulatory body—the SEC or CFTC—will oversee the industry.

Garlinghouse’s Impact on Crypto Regulations

Garlinghouse’s potential role on the council has sparked much discussion about Ripple’s influence in shaping crypto policy. Known for his long-time advocacy for clearer regulations, Garlinghouse could play a key part in creating a more defined and fair regulatory environment for the entire crypto industry.

Other Crypto Leaders in the Running

Garlinghouse is not the only one being considered for a position on the council. Other well-known figures in the crypto world, including Kraken’s former general counsel Marco Santori, crypto podcast host Frank Chaparro, and CEOs from major companies like Circle’s Jeremy Allaire, Coinbase’s Brian Armstrong, and Crypto.com’s Kris Marszalek, are also under consideration.

Could XRP Join a National Reserve List?

There are also rumors that XRP could be included in a national reserve list, although nothing has been confirmed. Some speculate that Trump’s previous meeting with Ripple executives before his inauguration could be related to this development. If true, this move could position Ripple as an important player in the U.S. financial system.

With key players like Garlinghouse in the mix, the future of U.S. cryptocurrency regulation is bound to take a more defined and innovative turn.

@ Newshounds News™

Source: Coinpedia

~~~~~~~~~

OHIO LAWMAKERS PUSH FOR STATE BITCOIN RESERVE AND CRYPTOCURRENCY PAYMENTS

Ohio introduces a bill to create a Bitcoin reserve fund, allowing public funds and tax payments to be handled in cryptocurrency.

▪️Ohio plans to create a Bitcoin reserve fund managed by the state treasurer.

▪️The bill requires Bitcoin investments to be held for at least five years.

▪️Ohio aims to lead the nation in government-backed Bitcoin initiatives.

Ohio is advancing plans to create a Bitcoin reserve fund. Senate Bill 57 introduced by Senator Sandra O’Brien on January 28 grants authority to the state treasurer to invest public funds exclusively into Bitcoin.

The proposal moved to the Financial Institutions, Insurance, and Technology Committee for additional evaluation the day after its introduction. The proposed law would mandate that all Bitcoin investments stay in the fund for at least five years.

The proposal mandates Ohio’s treasury oversee Bitcoin investments through secure safekeeping systems. The law also requires state agencies to receive Bitcoin as payment for taxes, fines and other government fees. All cryptocurrency payments that state agencies receive will be converted to Bitcoin before being deposited into the reserve.

Under the bill’s provisions Ohio residents, government bodies and universities can contribute Bitcoin donations to the fund.

Previous Crypto Initiatives in Ohio

Ohio has explored cryptocurrency adoption in the past. In December, House Republican leader Derek Merrin introduced House Bill 703 to support Bitcoin investments in state reserves.

Additionally, state senator Niraj Antani proposed a bill to enable tax and fee payments using cryptocurrency. The latest Bitcoin reserve bill builds on these earlier efforts, introducing a structured approach for state-level Bitcoin investment and storage.

National and Statewide Trends

The initiative aligns with federal discussions on digital asset adoption. President Donald Trump’s executive order called for research into a national digital asset reserve. Ohio lawmakers view these federal developments as potential catalysts for state policy adjustments. The bill seeks to position Ohio as a leader in government-backed Bitcoin initiatives.

Several other U.S. states are also considering Bitcoin reserve legislation. Utah, Arizona, and South Dakota have introduced similar bills. Utah’s House committee approved a bill allowing treasury funds to include digital assets.

Texas passed the Texas Strategic Bitcoin Reserve Act, requiring the state to hold Bitcoin as a reserve asset for at least five years. On January 28, Arizona’s Senate approved its own Bitcoin reserve bill, permitting public funds to invest up to 10% of assets in virtual currencies.

According to Bitcoin Reserve Monitor, at least twelve states have proposed legislation for Bitcoin reserves. The increasing interest in state Bitcoin holdings reflects a broader trend of cryptocurrency adoption at the government level. Ohio’s new proposal could establish the state as a key player in this movement.

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Source: CryptoNewsLand

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DINARRECAPS8 2/6/25 DINARRECAPS8 2/6/25

Seeds of Wisdom RV and Economic Updates Thursday Evening 2-6-25

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US SENATE PANEL APPROVES CRYPTO ADVOCATE, BILLIONAIRE HOWARD LUTNICK FOR COMMERCE SECRETARY

The Senate Commerce, Science, and Transportation Committee advanced the candidacy of Howard Lutnick, a crypto proponent and billionaire entrepreneur, to the position of Commerce secretary by a vote of 16–12.

America’s technological and financial scene undergoes a radical change and a wealthy man with strong ties to cryptocurrencies is leading important national initiatives valued in hundreds of billions of dollars.

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Lutnick: Major Tech Programs Hang In The Balance

Lutnick’s appointment places him in charge of the $280 billion CHIPS and Science Act and the massive $42.5 billion BEAD program. These figures don’t only appear on paper; they reflect America’s determined efforts to transform its semiconductor sector and technical infrastructure. With global tech supremacy on the line, the stakes are higher than ever

Warren’s Crypto Concerns Spark Fierce Debate

The confirmation hasn’t been without its share of fireworks. Senator Elizabeth Warren has thrown down the gauntlet, demanding answers about Lutnick’s ties to Tether, the controversial stablecoin issuer.

Her January 28 letter pulled no punches, questioning everything from Cantor Fitzgerald’s investment in Tether to potential compliance issues. The plot thickened when it emerged that Lutnick’s financial disclosure form detailed assets worth over $806 million and involvement in 800 entities.

Washington is split by the confirmation as Ranking Member Maria Cantwell voted against Lutnick, citing inadequate dedication to current program goals. One thing is evident as this billionaire entrepreneur takes on his new position: the tech and crypto scene of America is set to change and might even completely alter the digital future of the country.

Cruz Champions Tech Policy

While Warren raises red flags, fellow Senator Ted Cruz is upbeat about what he sees as a victory for tech innovation. His vision? A complete reimagining of the BEAD program, moving away from its fiber-optic focus to embrace alternatives like satellite internet and fixed wireless. It’s a stark departure from previous policies, with Cruz dismissing the former Biden administration’s approach as riddled with “lawless conditions.”

Bitcoin Dreams And Stablecoin Schemes

Lutnick is open about his plans for cryptocurrency. At the 2024 Bitcoin Conference in Nashville, he confidently stated that cryptocurrency is “the future of financial independence.” He wants to require checks for stablecoins and might create a national Bitcoin reserve. This idea has made crypto fans excited but has worried traditional finance regulators.

The newly formed SEC Crypto Task Force, under Commissioner Hester Peirce, will work closely with Lutnick to navigate these uncharted waters.

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Source: Bitcoinist

~~~~~~~~~

CZECH REPUBLIC PASSES CRYPTO-FRIENDLY LAW, EXEMPTS BITCOIN FROM CAPITAL GAINS

The Czech Republic has passed legislation exempting Bitcoin and other digital assets from capital gains tax if held for more than three years.

President Petr Pavel signed the law, according to BTC Prague, aligning the country’s crypto taxation with traditional securities.

The tax exemption applies to individuals and non-business activities, eliminating previous tax disadvantages for long-term crypto investors. The amendment, set to take effect in mid-2025, brings the Czech Republic’s regulatory framework in line with the European Union’s Markets in Crypto-Assets rules.

The Chamber of Deputies approved the law in January as part of broader efforts to modernize the country’s financial regulations. Under the new rules, Bitcoin holders who sell their assets after three years will no longer owe income tax on profits, mirroring the tax treatment of long-term stock investments.

Czech Bitcoin reserve

The Czech National Bank is reviewing a proposal to add Bitcoin to its reserves, but the process may take months, and any exposure would be far lower than the initially suggested 5%, sources say.

Governor Ales Michl introduced the idea, but European Central Bank President Christine Lagarde dismissed the proposal, emphasizing the need for liquidity and security in reserves.

In response, the Czech National Bank commissioned a study to evaluate Bitcoin’s feasibility, with Michl stating he would accept its findings, even if they reject the plan.

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Source: CryptoNews

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DINARRECAPS8 2/6/25 DINARRECAPS8 2/6/25

Seeds of Wisdom RV and Economic Updates Thursday Afternoon 2-6-25

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BRICS: TRUMP SPARES INDIA AFTER THEY OFFICIALLY EMBRACE THE US DOLLAR

US President Donald Trump has spared BRICS member India from tariffs as they officially embraced the US dollar for trade. Trump imposed 25% tariffs on Mexico and Canada and ignited a global trade war. He also imposed 10% tariffs on China and could go further if they advance the de-dollarization agenda.

However, BRICS member India has been spared from tariffs as they spoke positively about using the US dollar for cross-border transactions. India’s Foreign Minister S. Jaishankar repeatedly said in multiple interviews that they do not support the de-dollarization initiative. He explained that India will settle trade in local currencies with other countries only when it fits the trade agreement.

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BRICS: TRUMP SPARES INDIA AFTER THEY OFFICIALLY EMBRACE THE US DOLLAR

Jaishankar also praised Trump and said that India has a good relationship with the new White House administration. “We’ve always said that India has never been for de-dollarization,” he said at various press conferences.

He made it clear that India will work closely with the US and will use the dollar for payment settlements. The Minister also revealed that India is not working towards the formation of a new BRICS currency and will not support bringing the US dollar down.

BRICS: India Plays It Safe By Supporting the US Dollar

The Reserve Bank of India (RBI) Governor Shaktikanta Das also pitched in saying that India does not support de-dollarization. “Nobody is talking about or thinking about de-dollarization. There is no step we have taken to de-dollarize,” said Das to Bloomberg. “De-dollarization is certainly not our objective and is not on the table. BRICS currency was an idea raised by one of the members and was discussed but no decision has been taken.”

All these statements made Trump spare BRICS member India as they fully support the US dollar’s prospects. India also needs the US dollar as its economy depends on America’s progress through Information Technology and other sectors. The US has invested heavily in India as backend offices and meddling with businesses could prove costly for the Modi government.

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Source: Watcher Guru

~~~~~~~~~

CFTC ACTING CHAIR SAYS THE AGENCY IS ENDING REGULATION BY ENFORCEMENT

The commission will divide its enforcement responsibilities into two task forces focused mainly on “complex fraud” and retail fraud.

Caroline Pham, acting chair of the US Commodity Futures Trading Commission (CFTC), announced that the agency would be winding down its practice of regulation by enforcement, likely impacting its approach to crypto firms during the Trump administration.

In a Feb. 4 notice, Pham said the CFTC was restructuring the priorities for its Division of Enforcement to focus on fraud, suggesting that the move “will stop regulation by enforcement” against “good citizens.”

The commission will divide its responsibilities into two task forces focused mainly on retail fraud and violations of the Commodity Exchange Act and “complex fraud and manipulation.”

“This taskforce realignment will enhance our vigorous and energetic enforcement program by empowering our talented staff to focus their expertise on matters that secure justice for victims and uphold public confidence in the integrity of our markets,” said acting enforcement director Brian Young.

The shift in the commission’s approach to enforcement was one of Pham’s first actions since becoming the CFTC acting chair on Jan. 20 following former chair Rostin Behnam’s stepping down. At the time of publication, it was unclear whom US President Donald Trump intended to nominate to fill Behnam’s seat at the CFTC once he leaves on Feb. 7.

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Source: CoinTelegraph

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DINARRECAPS8 2/6/25 DINARRECAPS8 2/6/25

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CFTC’S PHAM SEEKS ‘COMMON-SENSE’ REGULATION OF PREDICTION MARKETS IN NEW ROUNDTABLE

▪️The CFTC will hold a public forum to discuss prediction markets, though it did not name any specific marketplace in its announcement.

▪️CFTC Acting Chair Pham said past years of anti-innovation policies have restricted “common-sense” regulations of prediction markets.

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The Commodity Futures Trading Commission announced Wednesday that it will hold a public roundtable to examine prediction markets, where its acting chair Caroline D. Pham expressed the need for more clarity in regulating such platforms.

“Unfortunately, the undue delay and anti-innovation policies of the past several years have severely restricted the CFTC’s ability to pivot to common-sense regulation of prediction markets,” said CFTC Acting Chairman Caroline D. Pham.

Pham said prediction markets are an “important new frontier” that can bring truth to the information age by utilizing the power of markets.

“The current Commission interpretations regarding event contracts are a sinkhole of legal uncertainty and an inappropriate constraint on the new administration,” Pham said.

Last year, the commission requested a district court to review a previous ruling in Kalshi’s favor in an attempt to block U.S. election bets on the prediction market. The two have been in a legal dispute since 2023 over the offerings of event contracts linked to congressional matters.

Earlier this week, it was reported that the CFTC was questioning prediction market Kalshi and Singapore-based crypto exchange Crypto.com over whether their derivatives-based Super Bowl sports events contracts were compliant.

“CFTC must break with its past hostility to innovation and take a forward-looking approach to the possibilities of the future,” Pham stated.

The roundtable

The public roundtable is a necessary first step in establishing a comprehensive regulatory framework for prediction markets, Pham said, as the new framework aims to promote the platforms while protecting users from deceptive market practices.

The forum will tackle several key roadblocks in establishing the framework, including past CFTC decisions, court orders and enforcement actions, and interpretations of event contracts on prediction markets in general.

“Participants will include a wide variety of experts and stakeholders representing numerous and diverse interests in these issues,” the statement said.

However, the release did not mention names of prediction markets that would be discussed at the public roundtable.

The roundtable is scheduled to be held at the CFTC headquarters in Washington, D.C., with further details on the event yet to be announced.

@ Newshounds News™

Source: The Block

~~~~~~~~~

RIPPLE EXPANDS US WORKFORCE BY 75% AFTER ELECTIONS: IS THE SEC LAWSUIT ENDING SOON?

Ripple’s CLO, Stuart Alderoty, recently shared his thoughts on the new U.S. administration’s approach to cryptocurrency. In an interview with CNBC, Alderoty expressed his satisfaction with the changes brought about by the new administration.

He explained that the previous administration had essentially waged a “war” on crypto, pushing the industry out of the U.S. in favor of restrictive policies. However, since the inauguration, Alderoty praised the new administration for embracing cryptocurrency and clearing obstacles that had been stifling innovation.

Ripple’s Onshore Hiring Surge Amid SEC Case

Alderoty revealed that Ripple, which has been based in the U.S. for over 12 years, is benefiting from these shifts. He said that following the election, 75% of Ripple’s hiring efforts, which were previously offshore, are now being brought back onshore in the U.S.

The company is eager to build and expand its operations domestically, with the belief that the U.S. can once again become the global leader in cryptocurrency technology.

These changes come amid the ongoing SEC case, which has been dragging on for four years. The updates have left many wondering if the case might be coming to an end soon.

Ripple’s Response to U.S. Crypto Reform

When discussing U.S. crypto reform, Alderoty outlined three major forces shaping the landscape: President Trump’s executive order, changes in federal regulation, and legislative action from Congress.

He stressed the importance of the executive order, which reaffirms the U.S.’s goal of becoming the “crypto capital of the world.” The order has sparked a series of positive regulatory developments, including the appointment of David Sachs as the “crypto czar,” who is leading a task force to review and update crypto regulations.

Additionally, Alderoty praised the actions of the SEC’s acting chair, Mark Uyeda, who recently acknowledged the regulatory confusion of the past few years. Alderoty is optimistic that these changes will make it easier for banks to engage with crypto, further positioning the U.S. as a favorable environment for crypto innovation.

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Source: Coinpedia

~~~~~~~~~

RIPPLE’S RLUSD TOKEN SECURES MAJOR LISTINGS

The Ripple USD (RLUSD) stablecoin has secured several new listings, according to a Wednesday announcement.

The much-hyped stablecoin is now available for trading on Revolut and Zero Hash. These recent additions are likely to result in substantially broader RLUSD adoption.

London-based fintech firm Revolut boasts more than 50 million customers across the globe. Last September, it was reported that the company planned to launch its own stablecoin. In November, it also obtained the approval to expand its services across the EU after securing a banking license in the UK.

Zero Hash is a prominent cryptocurrency infrastructure platform. With the addition of RLUSD, the platform now supports five stablecoins across various chains.

RLUSD is, of course, available on both Ethereum and the XRP Ledger, and the stablecoin is expected to add more platforms in the future. The Zero Hash integration is significant for the RLUSD since it means that Ripple's stablecoin is now part of the stablecoin engine that is powering various fintech firms in the realm of payments (remittances, payouts, AI agents) and trading.

Zero Hash CEO Edward Woodford says that the listing of Ripple's RLUSD token shows that the company is committed to offering its customers the most "innovative and regulated" stablecoin products.

As reported by U.Today, the Ripple stablecoin recently surpassed $100 million in market capitalization.

The token was also recently listed on Bitstamp, one of the oldest cryptocurrency exchanges.

According to CoinGecko, the market cap of RLUSD currently stands at $108 million.

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Source:  U Today

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DINARRECAPS8 2/5/25 DINARRECAPS8 2/5/25

Seeds of Wisdom RV and Economic Updates Wednesday Evening 2-5-25

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FDIC RELEASES DOCUMENTS RELATED TO CRYPTO DEBANKING

The Federal Deposit Insurance Corporation has released more than 100 documents related to the highly criticized and controversial “debanking” of crypto companies and individuals.

In a press release on Feb. 5, the FDIC stated that the 175 documents pertain to the agency’s supervision of banks that “engaged in, or sought to engage in, crypto-related activities.”

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The report was released on the same day the U.S. Senate Banking Committee began its hearing on the impact of debanking in the country. It also follows a court order that set the deadline for their release as Friday, Feb. 7.

Crypto debanking, often referred to as Chokepoint 2.0, has been a contentious issue in recent months, with the FDIC and the U.S. Securities and Exchange Commission facing criticism from various industry stakeholders.

FDIC acting chairman Travis Hill commented:

“I have been critical in the past of the FDIC’s approach to crypto assets and blockchain. As I said last March, the FDIC’s approach ‘has contributed to a general perception that the agency was closed for business if institutions are interested in anything related to blockchain or distributed ledger technology.”

The released documents include correspondence with 24 financial institutions regarding their involvement or interest in crypto-related activities.

The records reveal that the FDIC largely resisted engagement, frequently requesting additional information, delaying responses for months, and issuing directives instructing banks to pause, suspend, or entirely avoid crypto-related activities.

The crypto debanking hearings will no doubt reveal a lot more, but commentary from notable industry advocates commend the FDIC’s decision to release the documents. It includes Senator Cynthia Lummis, who observed via a post on X:

“I am thrilled the FDIC acted swiftly & efficiently to release these documents. I want to thank Chairman Hill and POTUS for your commitment to government transparency! We are putting an END to Chokepoint 2.0.”

FDIC acting chair Hill has stated that the agency is reevaluating its approach. Key measures moving forward include replacing its Financial Institution Letter (FIL) 16-2022and creating a clearer framework for banks to participate in the crypto sector. The FDIC will also collaborate with President Trump’s working group on digital assets to establish new guidelines.

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Source: CryptoNews

Also read: https://coinpedia.org/news/fdic-set-to-revise-guidelines-allowing-banks-to-engage-in-crypto-activities/

~~~~~~~~~

HOW TRUMP'S TRADE WAR IS AFFECTING BITCOIN AND GOLD

Gold and Bitcoin have previously moved together as "safe haven" assets. But that isn't the case with President Donald Trump back in action.

Bitcoin or gold? Or Bitcoin and gold? Investors are weighing where to put their money in times of uncertainty—and no time is more uncertain than now.

President Donald Trump’s tariffs—or threats of tariffs—have rocked markets, making “risk-on” assets like crypto less appealing.

The price of gold hit a new high Monday, while Bitcoin dropped below $93,000, down about 14% from its all-time high price set on January 20. Bitcoin's correlation to the precious metal is down significantly as investors flock to more traditional safe haven assets, experts told Decrypt.

Bitcoin proponents have long claimed that the cryptocurrency’s unique selling point is that it’s a long-term store of value—like gold. And sometimes, they are correlated: The two assets have moved in tandem in the past, when investors have flocked to a strong dollar.

But things are up in the air now that President Donald Trump has taken office and issued a flurry of dramatic orders, and Bitcoin’s 90-day correlation with gold has remained close to zero, data provider Kaiko told Decrypt.

Case in point: The new commander in chief implemented tariffs against Canada, Mexico, and China on Saturday, causing crypto prices to drop sharply.

After having a “friendly conversation” with Mexican President Claudia Sheinbaum two days later, he decided to pause tariffs—leading to a rebound in Bitcoin’s price. Meanwhile, gold soared. Trump later agreed to a similar pause with Canada as the two countries attempt to work out a deal, while tariffs against China ultimately did go into effect.

“The trade war could decouple the correlation in the short term as gold is a more established ‘safe haven’ asset, while Bitcoin—although often seen as a safe haven—is currently owned by a large investor base also trading highly speculative risk-asset meme coins and tech stocks,” Amberdata’s director of derivatives Greg Magadini told Decrypt.

The reason for the decoupling is that Bitcoin is still performing less like a safe-haven and more like risk assets, such as tech stocks. The biggest cryptocurrency by market cap over the past seven days alone has swung from $105,893 per coin to as low as $92,876.

@ Newshounds News™

Source: Decrypt

~~~~~~~~~

🥇🥇GOLD TELEGRAPH BREAKING NEWS🥇🥇

WORLD'S DEMAND FOR GOLD HIT ANOTHER RECORD HIGH LAST YEAR

Read: X . Com

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

THE ANNUALIZED RATE FOR LENDING GOLD over a one-week period has increased to around 10% this year, up from the previous range of 2-3%.

People are definitely sweating.

Read: X . Com

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

VERY STRANGE THINGS HAPPENING AT THE BANK OF ENGLAND.

They hold over $450 billion worth of gold at current prices, primarily for central banks.

There are weeks long queues to withdraw bullion from its vault and its now trading at a DISCOUNT vs. wider markets.
Massive moment...

Read: X . Com

~~~~~~~~~~~~~~
BILLIONAIRE PIERRE LASSONDE MESSAGE:

Billionaire Pierre Lassonde told me late last year that the day transactions on the Shanghai Gold Exchange surpass those on the COMEX, gold pricing will shift to the East, leaving the West behind.
Right now, the LBMA says it’s working with COMEX on U.S. gold price premium...

Watch: X . Com

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Source: Cold Telegraph

~~~~~~~~~

SEC’S CRYPTO TASK FORCE WEBSITE LAUNCHES: HESTER PEIRCE SHARES VISION FOR DIGITAL ASSET REGULATION

The US Securities and Exchange Commission (SEC) has officially unveiled its new Crypto Task Force, marking a pivotal shift in its regulatory approach to the digital asset sector.

This initiative, led by Commissioner Hester Peirce, promises a more engaging and less perilous journey for both the SEC and the crypto industry compared to the tumultuous path the agency has navigated over the past decade.

Peirce articulated the need for a clear destination in the regulatory landscape, acknowledging the previous lack of clarity and the enforcement hesitancy that characterized the SEC’s earlier interactions with cryptocurrency.

New SEC Task Force To Foster Collaboration In Crypto Regulation

In her announcement, Peirce emphasized that the SEC’s past approach was fraught with “legal ambiguities” and “commercial impracticalities,” leaving many market participants in a state of uncertainty.

She highlighted that the Task Force aims to address these issues collaboratively, involving input from various stakeholders, including builders, enthusiasts, and skeptics within the crypto community.

By fostering open dialogue, the SEC seeks to develop a regulatory framework that balances investor protection with the industry’s ability to innovate and thrive.

Peirce was candid about the challenges ahead, acknowledging that untangling the complexities of cryptocurrency regulation will take considerable time and effort.

The SEC has been engaging with the crypto industry for over a decade, with its first Bitcoin exchange-traded product application arriving in 2013. Since then, the agency has faced numerous enforcement actions and made various attempts to clarify regulatory expectations, yet many issues remain unresolved.

Public Engagement In Shaping Digital Asset Regulation

The Task Force’s efforts will include examining the status of different crypto assets under existing securities laws, addressing the regulatory needs of coin and token offerings, and exploring how crypto lending and staking programs fit within the legal framework.

The Task Force also aims to enhance the process for exemptive relief applications and streamline paths to registration for token offerings, while ensuring that the necessary investor protections remain intact.

Peirce explicitly stated that the SEC does not endorse any specific cryptocurrency or token, reinforcing the idea that market participants must make informed decisions without relying on government approval.

Furthermore, the Task Force plans to collaborate with other regulatory bodies and state authorities to create a comprehensive understanding of crypto’s regulatory landscape.

This cooperation is essential for crafting policies that not only protect investors but also provide a safe environment for innovation. The SEC is keen on ensuring that the US capital markets remain robust and efficient, free from fraud and misconduct.

Peirce’s statement also invited public engagement, encouraging individuals and organizations to contribute their insights and suggestions regarding the regulatory framework for cryptocurrencies.

Interested parties can provide written submissions or request meetings with Task Force members to discuss pertinent issues. This open approach reflects the SEC’s commitment to transparency and inclusivity in its regulatory process.

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Source: Bitcoinist