Seeds of Wisdom RV and Economic Updates Tuesday Evening 5-13-25
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US BANKING AUTHORITY CLEARS PATH FOR CRYPTO SERVICES AT NATIONAL BANKS
OCC and Fed's synchronized policy shift opens doors for national banks to enter crypto markets amid rising customer demand.
The Office of the Comptroller of the Currency (OCC) confirmed on May 13 that national banks are now authorized to engage in a wide range of crypto-asset activities, removing long-standing regulatory ambiguities that had kept many financial institutions on the sidelines.
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US BANKING AUTHORITY CLEARS PATH FOR CRYPTO SERVICES AT NATIONAL BANKS
OCC and Fed's synchronized policy shift opens doors for national banks to enter crypto markets amid rising customer demand.
The Office of the Comptroller of the Currency (OCC) confirmed on May 13 that national banks are now authorized to engage in a wide range of crypto-asset activities, removing long-standing regulatory ambiguities that had kept many financial institutions on the sidelines.
In tandem with recent moves by the Federal Reserve, the policy shift opens the door for national banks to offer crypto custody, execute trades at customer direction, and outsource digital asset services under established third-party risk guidelines.
OCC announcements and letters
The OCC’s announcement, delivered via a statement and supported by Interpretive Letters 1183 and 1184, marks a coordinated rollback of prior restrictions.
Letter 1183, issued March 7, formally rescinds the 2021 supervisory “non-objection” process set out in Letter 1179.
Letter 1184, issued May 7, extends authority by permitting banks to buy and sell cryptocurrencies held in custody when directed by clients.
These policy updates align with the Federal Reserve’s April 24 decision to retract its pre-approval guidance for crypto activities.
Together, these actions dissolve the primary regulatory hurdles that had delayed widespread adoption of crypto services by traditional financial institutions.
“The U.S. banking system is now deemed well-positioned to support digital asset activity,” the OCC stated.
Future of crypto within US TradFi Sector
With the global crypto market cap around $3.33 trillion as of May 13, the scale of the opportunity is no longer viewed as speculative. National banks now have the opportunity to compete for custody fees and customer retention in a space once dominated by fintech firms.
“More than 50 million Americans hold some form of cryptocurrency,” said Acting Comptroller Rodney E. Hood.
“The digitalization of financial services is not a trend; it is a transformation.”
The shift is framed as a structural evolution, supporting integration within banking models, not experimentation.
Next steps
Letters 1183 and 1184 emphasize AML compliance, yet omit guidance on private key management and capital adequacy.
Integration of AML systems, wallet infrastructure, and third-party contracts may take 6–12 months.
Ongoing jurisdictional questions between the SEC and CFTC create regulatory gray zones for some tokens.
FDIC does not insure digital asset holdings, a vital point for customer awareness.
Still, this represents the most pronounced shift in U.S. banking crypto policy since 2020’s Letter 1170.
The policy aligns U.S. oversight with Europe and Asia, where regulated crypto services are already common. Political pressure to counter alleged efforts like “Operation Chokepoint 2.0” has influenced this evolution.
As Letters 1183 and 1184 take effect, competition is expected to intensify. Traditional banks may quickly gain ground if they can translate permission into readiness—leveraging trust and regulatory infrastructure as advantages.
@ Newshounds News™
Source: CryptoSlate
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CARDANO’S BIG NEWS: BRAVE WALLET INTEGRATION
Brave Wallet integration allows over 70 million users to send and receive Cardano’s ADA tokens.
Charles Hoskinson teases major updates, linked to the Midnight upgrade, for Cardano's future growth.
ADA has broken past key levels, suggesting potential price surge toward $0.86 and $1.
After jumping 20% last week, Cardano (ADA) has now dropped 5%, but there’s more behind it. With the Brave Wallet now supporting ADA and Cardano’s founder teasing more surprises, the stage is set for ADA price to hit a monthly high.
So, is ADA on its way to $1?
Cardano’s Brave Wallet Integration
The Brave browser, which has over 70 million users, has officially added support for ADA in its built-in crypto wallet. Reacting to the news, Cardano’s founder Charles Hoskinson hinted that this is just the beginning.
He suggested that several more big updates will roll out through the Summer and Fall of 2025.
Hoskinson even joked that VPN and advertising companies might be in for a shock once these integrations go live.
His message was clear: Cardano is entering a new phase of real-world adoption, and the Midnight upgrade is just the start.
ADA Eyeing $1 Mark – Key Levels To Watch
This Brave integration has brought back fresh hopes in the Cardano community, especially after ADA’s recent dip.
As of now, ADA price is currently trading around $0.79, down 4% today. Still, many traders see this as a healthy correction, not a warning sign.
Looking at the chart, ADA has already broken past the $0.72 and $0.75 levels, which is a good sign. It is now sitting close to the $0.786 level, which is an important zone.
If it can break through this and hold, the next targets could be around $0.86 and even higher, like $1.00.
Bullish Momentum Isn’t Over Yet
One more positive sign is that the trading volume is strong—currently at $1.88 billion, reflecting a surge of 65% seen in the last 24 hours. This means a lot of people are buying and selling ADA right now.
Technical signs like RSI also hint at a bullish momentum as it is still at 61.
However, if it fails to move higher, the price might fall back down to support near $0.72 or $0.67.
@ Newshounds News™
Source: CoinPedia
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Isaac Update
5/13/2025
Isaac will post in his Telegram Room tomorrow after his appointment.
Isaac's Telegram Room Link
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Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 5-13-25
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COINBASE BECOMES FIRST BITCOIN AND CRYPTO COMPANY TO JOIN THE S&P 500
Coinbase joins the S&P 500, marking a milestone for Bitcoin, further highlighting Bitcoin’s strong performance, outperforming gold and the S&P 500 over the years.
Coinbase Global Inc. (NASDAQ: COIN) is officially joining the S&P 500 starting May 19. It will replace Discover Financial Services (NYSE: DFS), which is being acquired by Capital One Financial (NYSE: COF), an existing member of the index.
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COINBASE BECOMES FIRST BITCOIN AND CRYPTO COMPANY TO JOIN THE S&P 500
Coinbase joins the S&P 500, marking a milestone for Bitcoin, further highlighting Bitcoin’s strong performance, outperforming gold and the S&P 500 over the years.
Coinbase Global Inc. (NASDAQ: COIN) is officially joining the S&P 500 starting May 19. It will replace Discover Financial Services (NYSE: DFS), which is being acquired by Capital One Financial (NYSE: COF), an existing member of the index.
This is a big move for Coinbase and an even bigger signal for Bitcoin. For a crypto company to be added to one of the most important indexes in the U.S. shows how far this industry has come. It’s not just hype anymore—it’s becoming a real part of the traditional financial system.
“Thank you to everyone who made it possible for a crypto company to join the S&P 500 for the first time in history,” Coinbase posted on their X account.
To get into the S&P 500, a company needs to meet a few strict requirements. They need a market cap of at least $18 billion, have most of their shares held by the public, be profitable over the last four quarters, and be listed on a U.S. exchange. Coinbase checks all of those boxes, with a market cap over $40 billion and solid recent earnings.
Once Coinbase is added, every fund that tracks the S&P 500 will need to include it in their portfolios. That means more demand for the stock, which could push the price up in the short term. But even more important, it brings more exposure and credibility to the entire crypto space.
“Congratulations Brian Armstrong on $COIN being added to the S&P 500 Index,” said Strategy Executive Chairman Michael Saylor. “A major milestone for Coinbase and for Bitcoin.”
Now let’s talk about Bitcoin. Coinbase is one of the top platforms people use to buy and sell Bitcoin. Having it in the S&P 500 makes Bitcoin exposure more accessible to traditional investors. It also helps reduce the idea that Bitcoin and crypto are just some risky gamble.
And the numbers speak for themselves. Over the past 14 years, Bitcoin has outperformed the S&P 500 and gold by a huge margin. Since 2010, Bitcoin has surged a staggering 7,200,000%, compared to the S&P 500’s 306% and gold’s 116%. Even when looking at shorter timeframes, Bitcoin consistently beats both. For instance:
In the past year:
Bitcoin: +27%
Gold: +37%
S&P 500: +5%
In the last five years:
Bitcoin: +1,138%
Gold: +85%
S&P 500: +92%
@ Newshounds News™
Source: Bitcoin Magazine
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SAUDI ARABIA DROPS BRICS, INKS $600B STRATEGIC DEAL WITH US IN 2025
A new agreement has been signed, and it is poised to have major geopolitical ramifications as Saudi Arabia has seemingly dropped BRICS, inking a new deal with the US in 2025. Indeed, Riyadh has agreed to a “strategic economic partnership” with the United States amid a visit from President Donald Trump on Tuesday.
Both Trump and Crown Prince Mohammed Bin Salman have reached the landmark agreement that will increase cooperation in energy, mining, defense, and other ventures. Indeed, the memorandum was reached in what is the US president’s first major foreign trip since his return to the White House.
Saudi Arabia & US Reach New Deal Despite BRICS Standoff
Since his return to the Oval Office, Donald Trump has not been shy about his feelings toward the BRICS economic alliance. Earlier this year, he threatened 150% tariffs on the bloc. Specifically, he warned of repercussions for its continued de-dollarization efforts.
His stance only complicated the relationship between the collective and the recent expansion nation, Saudi Arabia. With tensions rising during Trump’s second term, Riyadh was seemingly caught in the middle. Now, it appears to have made its choice, as Saudi Arabia has turned from BRICS, signing a new strategic deal with the US in 2025.
The memorandum and agreement encompassed a host of sectors, including energy, defense, health, and the arts. Additionally, the letter of intent will see the US aid Saudi Arabia in the development of its armed forces. Moreover, they have plans for the Saudi Ministry of Interior and FBI to cooperate in one of many partnership aspects.
Abdulaziz Alghashian, Director of Research at Riyadh’s Observe Research Foundation Middle East, recently discussed the agreement. He noted that the deal’s reach “speaks to the depth” of the two nations' relationship. With the US and BRICS standing so opposed, it questions Saudi Arabia’s commitment to its cause.
However, that may not be the case. Alghashian noted that the deal “won’t come at the cost of relations with others.” Yet, only time will tell if that is the case. Just weeks ago, the US and China were on the doorstep of a trade war. Moreover, those tensions don’t appear to be entirely resolved.
@ Newshounds News™
Source: Watcher Guru
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Seeds of Wisdom RV and Economic Updates Tuesday Morning 5-13-25
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ARIZONA GOVERNOR KILLS TWO CRYPTO BILLS, CRACKS DOWN ON BITCOIN ATMS
Governor Katie Hobbs vetoed two major pro-crypto bills:
Senate Bill 1373, which proposed a Digital Assets Strategic Reserve Fund, and
Senate Bill 1025, the Arizona Strategic Bitcoin Reserve Act that would have allowed up to 10% of state treasury and retirement funds to be invested in Bitcoin.
She also rejected Senate Bill 1024, which would have allowed state agencies to accept crypto payments for taxes and fees.
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ARIZONA GOVERNOR KILLS TWO CRYPTO BILLS, CRACKS DOWN ON BITCOIN ATMS
Governor Katie Hobbs vetoed two major pro-crypto bills:
Senate Bill 1373, which proposed a Digital Assets Strategic Reserve Fund, and
Senate Bill 1025, the Arizona Strategic Bitcoin Reserve Act that would have allowed up to 10% of state treasury and retirement funds to be invested in Bitcoin.
She also rejected Senate Bill 1024, which would have allowed state agencies to accept crypto payments for taxes and fees.
Hobbs cited “volatility in cryptocurrency markets” as a core reason for vetoing, stating the proposals posed too much financial risk for public funds.
However, she approved House Bill 2387, which imposes strict consumer protections on Bitcoin ATMs:
Requires multilingual scam warnings and acknowledgment from users before transactions.
Caps daily transactions at $2,000 for new users and $10,500 for returning users after 10 days.
Mandates detailed receipts, visible 24/7 customer support info, and a 30-day refund policy for fraud victims.
Additionally, Hobbs signed House Bill 2749, modernizing unclaimed property laws to let Arizona hold unclaimed crypto in its original form rather than converting to fiat.
@ Newshounds News™
Source: CoinTelegraph
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BRICS: US & CHINA AGREE TO TARIFF PAUSE, BUT WHO’S NEXT?
The US and China have agreed to a 90-day tariff pause, signaling a potential thaw in tensions and offering hope for a broader trade deal.
President Trump called it a “total reset” in relations, easing fears of an imminent trade war between the world’s two largest economies.
China’s role in BRICS remains pivotal, and the agreement has sparked speculation about which BRICS nation may secure relief next.
India has already finalized trade terms with the US, while Brazil still faces a 10% tariff, and South Africa’s has been lowered from 30% to 10%.
Russia was never included in the initial US tariff plan, giving the BRICS alliance some strategic leverage.
The European Union (EU) may be next on the negotiation list, though Trump called the EU “nastier than China” in recent comments.
BRICS' united trade front is believed to be effective, with growing optimism that tariff relief deals for other members are coming soon.
The 2025 BRICS summit could expand the alliance, increasing its global influence during ongoing trade negotiations.
@ Newshounds News™
Source: Watcher Guru
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Seeds of Wisdom RV and Economic Updates Monday Evening 5-12-25
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US HOUSE PASSES CONTROVERSIAL STABLECOIN BILL BACKED BY TRUMP, DIVIDES DEMOCRATS
▪️The House passed the Stablecoin Innovation and Protection Act of 2025 late Thursday.
▪️The bill, supported by President Trump, aims to create a federal framework for stablecoin issuance while preserving state-level oversight.
▪️Democrats remain split over the bill’s impact on consumer protections, foreign issuers, and financial surveillance.
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US HOUSE PASSES CONTROVERSIAL STABLECOIN BILL BACKED BY TRUMP, DIVIDES DEMOCRATS
▪️The House passed the Stablecoin Innovation and Protection Act of 2025 late Thursday.
▪️The bill, supported by President Trump, aims to create a federal framework for stablecoin issuance while preserving state-level oversight.
▪️Democrats remain split over the bill’s impact on consumer protections, foreign issuers, and financial surveillance.
The U.S. House of Representatives has passed the Stablecoin Innovation and Protection Act of 2025, a landmark piece of crypto legislation backed by President Donald Trump. The legislation, which passed with significant Republican support, proposes a federal framework for stablecoin issuance and sets broad new guidelines for how both private and public entities may issue and manage digital dollar-pegged tokens.
While the bill preserves some roles for state regulators—allowing entities like Wyoming’s digital asset office to license issuers—it also gives the U.S. Treasury, Federal Reserve, and SEC more say in oversight, compliance, and financial stability risks.
President Trump called the passage a "historic win for American financial innovation", noting that the bill will help the United States "compete with foreign stablecoins and preserve dollar dominance."
Still, Democrats remain deeply divided. Some, including Rep. Richie Torres (D-NY), backed the legislation, arguing that clear rules would help weed out bad actors and prevent future Terra-style collapses.
Others, including Rep. Maxine Waters (D-CA), warned that the bill "guts core consumer protections" and would "allow foreign and unvetted entities to flood the market with opaque dollar tokens."
The bill contains provisions that bar federal agencies from banning privacy-preserving technologies in stablecoin wallets but allows the Treasury to block specific transactions or protocols if national security risks are found. The move was seen as a concession to civil liberties groups and more libertarian-leaning Republicans.
Additionally, the bill defines what constitutes a “payment stablecoin” and allows registered institutions—like banks or licensed money services businesses—to issue them, provided they maintain 1:1 reserves in highly liquid assets such as dollars, Treasury bills, or central bank reserves.
However, it’s the international implications that may be most contentious. The bill would allow U.S.-licensed foreign firms to issue stablecoins within the U.S. market, so long as they report to U.S. regulators and pass quarterly audits. That move drew criticism from some lawmakers who fear it will benefit firms tied to adversarial governments.
Rep. Katie Porter (D-CA), who voted against the bill, said: "We are green-lighting a digital dollar shadow economy before we’ve even set the rules of the road."
The bill now heads to the Senate, where its prospects remain uncertain. Senate Banking Chair Sherrod Brown (D-OH) has yet to endorse the bill and is said to be drafting a competing version with tighter controls on foreign issuers and stricter anti-money laundering requirements.
For now, the House victory gives Trump a significant policy win as crypto continues to be a major wedge issue ahead of the 2026 midterm elections.
@ Newshounds News™
Source: The Block
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GDP OF BRICS COUNTRIES OUTPERFORMS GLOBAL AVERAGE, US DISTANTLY BEHIND
The GDP of BRICS countries has outperformed market expectations and is exceeding the global average in 2025, according to the World Economic Outlook report published by the International Monetary Fund (IMF). The US, on the other hand, is distantly behind as its economy is growing in a limited manner this year.
In 2025, BRICS countries—Brazil, Russia, India, China, and South Africa—saw a combined growth of 3.4%, which exceeded expectations. The current consensus forecast predicts the GDP growth of the US at only 1.4% in 2025. The US economy is lagging behind this year with minimal growth, and the tariffs are threatening what little is left.
Below is the list of BRICS countries’ GDP projections for 2025:
Ethiopia (6.6%)
India (6.2%)
Indonesia (4.7%)
United Arab Emirates (4%)
China (4%)
South Africa (3.4%)
Brazil (2.3%)
BRICS GDP Shines in 2025, US Economy On the Razor’s Edge
The latest data from the IMF also shows that BRICS accounts for 40% of the global GDP in 2025. That’s massive, as they already cover nearly half of the world’s economy. Their Purchasing Power Parity (PPP) is projected to reach 41% this year, signifying that the alliance is growing rapidly.
“There is no way that BRICS is not relevant, given the size of its population (and GDP in 2025). And there are also countries that are key in the supply of commodities, such as Brazil and Russia, which supply energy, food, and even very important strategic minerals,” said Rodrigo Cezar, Professor of International Relations at the Getulio Vargas Foundation (FGV) and a specialist in international political economy.
“So the BRICS countries are going to be very relevant in terms of dictating or giving direction to the prices of these materials,” leaving the US economy under its mercy, explained Cezar.
BRICS GDP could pressurize the markets in 2025, leading to it dominating the prices of the commodity markets this year.
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Source: Watcher Guru
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Economist’s “News and Views” 5-12-2025
The absolute beginning of collapse, Gold will explode in value- Bill Holter
Triangle Investor: 5-12-2025
In this interview, Bill Holter discusses the looming economic instability and potential financial collapse driven by a massive derivatives market.
He emphasizes the risks associated with major financial institutions and the implications of the US's growing debt.
Holter also highlights the importance of gold and silver as safe havens during crises, the challenges facing China, and the future of financial markets amidst rising inflation and interest rates.
He warns that the current financial system is unsustainable and urges individuals to take proactive measures to protect their wealth.
The absolute beginning of collapse, Gold will explode in value- Bill Holter
Triangle Investor: 5-12-2025
In this interview, Bill Holter discusses the looming economic instability and potential financial collapse driven by a massive derivatives market.
He emphasizes the risks associated with major financial institutions and the implications of the US's growing debt.
Holter also highlights the importance of gold and silver as safe havens during crises, the challenges facing China, and the future of financial markets amidst rising inflation and interest rates.
He warns that the current financial system is unsustainable and urges individuals to take proactive measures to protect their wealth.
IMF CONFIRMS IT: Gold's Revaluation Will Be Beyond Your Wildest Imagination! - Andy Schectman
Financial Wisdom: 5-12-2025
0:00 - IMF declares major global economic reset
0:17 - Speculations on gold's future value
1:00 - U.S. becomes major gold importer for first time since WWII
1:24 - Trump's statement and discussions on gold revaluation
2:12 - Market vs. government-led gold revaluation scenarios
3:05 - Calculating gold's potential revaluation based on M1 supply
4:42 - Central banks' incentive to revalue gold
5:21 - Global accumulation and repatriation of gold
6:02 - Slow reintegration of gold into the monetary system
6:27 - Historical precedent for gold revaluation
7:06 - COMEX inflows suggest preparation for gold repricing
8:22 - Risk in London's over-leveraged gold market
9:03 - States begin recognizing gold and silver as legal tender
10:56 - Something is clearly changing with gold and silver
11:52 - Market volatility manipulation and price suppression
13:09 - China's gold accumulation and ETF inflows
13:53 - A generational shift in monetary thinking
14:04 - Gold's return as more than a commodity
Why Government Spending Dropped 5.1% in Q1
Heresy Financial: 5-12-2025
Seeds of Wisdom RV and Economic Updates Monday Morning 5-12-25
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U.S. ANNOUNCES CHINA TRADE DEAL IN GENEVA
Secretary of the Treasury Scott Bessent: “I’m happy to report that we made substantial progress between the United States and China in the very important trade talks. First, I want to thank our Swiss host. The Swiss government has been very kind in providing us this wonderful venue, and I think that led to a great deal of productivity we’ve seen. We will be giving details tomorrow, but I can tell you that the talks were productive.
We had the vice premier, two vice ministers, who were integrally involved, Ambassador Jamieson, and myself. And I spoke to President Trump, as did Ambassador Jamieson, last night, and he is fully informed of what is going on. So, there will be a complete briefing tomorrow morning.”
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U.S. ANNOUNCES CHINA TRADE DEAL IN GENEVA
Secretary of the Treasury Scott Bessent: “I’m happy to report that we made substantial progress between the United States and China in the very important trade talks. First, I want to thank our Swiss host. The Swiss government has been very kind in providing us this wonderful venue, and I think that led to a great deal of productivity we’ve seen. We will be giving details tomorrow, but I can tell you that the talks were productive.
We had the vice premier, two vice ministers, who were integrally involved, Ambassador Jamieson, and myself. And I spoke to President Trump, as did Ambassador Jamieson, last night, and he is fully informed of what is going on. So, there will be a complete briefing tomorrow morning.”
U.S. Trade Representative Ambassador Jamieson Greer: “This was, as the Secretary pointed out, a very constructive two days. It’s important to understand how quickly we were able to come to agreement, which reflects that perhaps the differences were not so large as maybe thought.
That being said, there was a lot of groundwork that went into these two days. Just remember why we’re here in the first place — the United States has a massive $1.2 trillion trade deficit, so the President declared a national emergency and imposed tariffs, and we’re confident that the deal we struck with our Chinese partners will help us to work toward resolving that national emergency.”
@ Newshounds News™
Source: The White House
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BRICS OR THE US? SAUDI ARABIA MAY HAVE CHOSEN A SIDE AMID THE FACEOFF
Since the start of the year, the BRICS economic alliance and the US have seen tensions explode, and Saudi Arabia has unwillingly sat at the center. Indeed, their issues have reached a fever pitch amid a brewing trade war between the United States and China. Now, all eyes are on Riyadh and where its loyalties could lie in a geopolitical sense.
The country was among the first to be included in the bloc’s landmark expansion plan. However, since accepting an invitation to join, Saudi Arabia has yet to fully become a part of the collective. Now, that may never come, as it stands in a complicated position with both allies.
Saudi Arabia Stands at the Center of US & BRICS Conflict: Which Side Are They On?
Since his return to the White House, US President Donald Trump has not minced words regarding the BRICS bloc. Indeed, he warned that the bloc would face a 150% tariff for its attempts at creating a currency to rival the US dollar. Moreover, it has hit China with import duty increases as high as 245% amid its ongoing challenges.
Those issues have only continued to fester throughout the year. Moreover, it has created a rather uncertain geopolitical dynamic for one nation at the center. Specifically, as the BRICS and the US face off, Saudi Arabia may soon be forced to choose a side. That is, if it hasn’t already done so.
Saudi Arabia was present at a BRICS meeting last week, according to sources. Moreover, it is still considered a potential BRICS nation after accepting its invitation to join as an expanding country.
However, that may not tell the whole story. Specifically, the country is worried that its BRICS relations will threaten its partnership with the US, Reuters reports.
Saudi Arabia “does not want to risk US anger as negotiations are underway in Washington,” the report noted. This created a notable balancing act between its US and Chinese relations. On the one side, China is its biggest oil exporter. Alternatively, Washington is a key security and tech partner.
The decision may have already been made due to its inaction; however, Riyadh has yet to officially join BRICS. Therefore, it may be able to salvage its relationship with China on its own. Subsequently, ensuring its partnership with both nations could endure, with only BRICS suffering in the end.
@ Newshounds News™
Source: Watcher Guru
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DEMOCRATIC SENATORS PROPOSE BAN ON CRYPTO PROMOTION BY TRUMP, SENIOR GOVERNMENT OFFICIALS AMID STABLECOIN BILL SPAT
▪️__A group of 20 Democratic Senators__ has introduced legislation that would ban the creation and promotion of cryptocurrencies by the President, Vice President, Congress, and Senate-confirmed Cabinet members, among some others.
▪️__The legislation was introduced amid growing tensions__ over the Senate’s stablecoin bill, after a number of Democrats withdrew their support from the current version of the bill.
▪️__The bill would attempt to prohibit Trump and Melania from profiting from their memecoins, though it would not necessarily impact the World Liberty Financial project.
▪️Elon Musk, as a Special Government Employee, would also be barred from promoting crypto.
A group of 20 Democratic Senators have unveiled new legislation that seeks to prohibit senior government officials from issuing or endorsing cryptocurrencies, as key Democrats raise concerns about President Trump's business dealings in the crypto sector.
The so-called “End Crypto Corruption Act of 2025” would prohibit the President, Vice President, members of Congress, individuals appointed to Senate-confirmed positions, and certain other special government employees in the Executive Office, plus their spouses and dependent children, from issuing, sponsoring, or endorsing any cryptocurrencies or other digital assets.
One such special government employee: Elon Musk, alongside other members of the Department of Government Efficiency (DOGE) team. Musk recently clarified that the department has no plans to use the memecoin of the same name in its official capacity.
Normal sale transactions would be permitted in the current form of the bill, which imposes fines and possible jail times on offenders. The bill covers government employees and their families during their term and for one year after, and was introduced on May 7.
The bill, the Senate counterpart of similar House legislation introduced earlier this year, is the latest response to the escalating political negotiations over the Senate's stablecoin bill.
A number of Senate Democrats voted against the legislation in its current form, accusing Republicans of not compromising on key issues like anti-money laundering legislation and foreign issuer oversight.
The bill seeks to prevent President Trump and his wife Melania from profiting from their memecoins, which were issued shortly before the inauguration. $TRUMP has recently traded higher after Trump announced its top holders would be personally invited to a White House dinner, raising conflict of interest concerns from some Democrats.
However, it's unclear whether Trump’s position as “chief crypto advocate” at the World Liberty Financial firm — more closely associated with his sons and senior administration members — would be prohibited under the bill in its current form.
Senate Democrats have recently raised concerns about a planned $2 billion deal between an Abu Dhabi investment firm and Binance with the firm’s WLD1 stablecoins.
“Our concerns about Binance’s compliance obligations are even more pressing given recent reports that the company is using the Trump family’s stablecoin to partner with foreign investment companies,” several Democratic senators wrote last week.
Senator Elissa Slotkin (MI), a co-sponsor of the bill, told Michigan Advance that preventing Trump from profiting from his memecoin is more pressing than broader crypto regulation:
“We’ve got a more immediate crocodile closer to the boat, and that’s the president of the United States, selling his own currency and marketing his own currency and using it as a form of payment to line his pockets,” Slotkin said.
@ Newshounds News™
Source: The Block
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Seeds of Wisdom RV and Economic Updates Sunday Morning 5-11-25
Seeds of Wisdom RV and Economic Updates Sunday Morning 5-11-25
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XRP BECOMES FIRST REGULATED CRYPTO IN THE U.S. AFTER RIPPLE-SEC SETTLEMENT
▪️__Ripple settles with the SEC, paying a reduced $50 million fine.__
▪️__The SEC acknowledges XRP is not a security on public exchanges, making it uniquely regulated in the US.__
▪️__This clarity is expected to boost XRP adoption and allow Ripple to focus on global expansion.__
Seeds of Wisdom RV and Economic Updates Sunday Morning 5-11-25
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XRP BECOMES FIRST REGULATED CRYPTO IN THE U.S. AFTER RIPPLE-SEC SETTLEMENT
▪️__Ripple settles with the SEC, paying a reduced $50 million fine.__
▪️__The SEC acknowledges XRP is not a security on public exchanges, making it uniquely regulated in the US.__
▪️__This clarity is expected to boost XRP adoption and allow Ripple to focus on global expansion.__
The long-running Ripple vs. SEC battle has finally reached a conclusion, and the outcome could reshape the crypto industry.
Ripple Labs has agreed to settle with the U.S. Securities and Exchange Commission, ending a legal fight that has lasted for years. As part of the settlement, Ripple will pay a reduced fine of $50 million. But the real headline is this: the SEC has officially acknowledged that XRP is not a security when traded on public exchanges.
XRP is now the only cryptocurrency with clear legal recognition in the United States. And that could open the door to serious institutional adoption.
Ripple Cuts Deal, SEC Walks Back Without Admitting Defeat
Originally, Ripple was ordered to pay a $125 million fine. But under the new agreement, the company will pay just $50 million, with $75 million being returned. Ripple and the SEC will ask the court to lift the previous injunction, closing the case and canceling any ongoing appeals.
The SEC made it clear in its statement that settling the case doesn’t mean it was wrong in its approach. Instead, it says this move reflects a shift in how it plans to handle crypto regulation going forward.
It also stressed that this settlement applies only to Ripple and won’t affect other enforcement actions in the crypto space.
Regulatory Attitudes Are Starting to Shift
Italian crypto expert Fabio Zuccara believes the U.S. government’s approach to crypto is becoming more constructive. He said the Biden administration, once viewed as destructive to the industry, now seems to be taking a more balanced approach.
Zuccara also pointed out that several crypto-related lawsuits have recently been dropped, further suggesting a change in direction from regulators.
XRP Trading Volume and Price Surge
The news has caused a major surge in XRP trading activity. The daily trading volume spiked from $1.2 billion to $4.2 billion, and the price climbed rapidly:
May 1: $2.19
May 8: $2.32 (9.5% daily jump)
May 10: $2.37 (2.4% 24-hour surge)
In total, XRP has gained nearly 11.92% since May 8, and is up 7.6% over the last seven days.
What’s Next for XRP and Ripple?
Zuccara states that XRP now holds a unique advantage as the only crypto with legal clarity in the U.S. — a factor that may boost institutional investment and corporate adoption.
With the lawsuit behind them, Ripple is expected to resume global expansion, focusing on cross-border payments and liquidity solutions using XRP.
Earlier reports suggested the legal fight had distracted Ripple from its core business operations, but the company can now refocus on innovation and growth.
Institutional Interest in XRP Grows
Ripple’s legal clarity is already paying off. Recently, CFTC-regulated XRP futures products were launched in the U.S., signaling increased institutional confidence in the digital asset.
Conclusion
The Ripple-SEC settlement marks a historic turning point in U.S. crypto regulation. With XRP now legally recognized and regulated, it opens a new path for other crypto firms seeking similar clarity. As regulatory uncertainty fades, Ripple is poised for global growth, and XRP may emerge as the go-to digital asset for institutions and enterprises alike.
@ Newshounds News™
Source: Coinpedia
~~~~~~~~~
SAUDI ARABIA ESCHEWS FORMAL BRICS MEMBERSHIP TO AVOID ANTAGONIZING US: REPORT
The nation of Saudi Arabia is reportedly forgoing formal membership in the intercontinental economic alliance BRICS as a means of avoiding antagonizing the US.
According to a new report by Reuters, two anonymous sources familiar with the matter say that Saudi Arabia – which was invited to BRICS in 2023 – is holding off on formally joining the alliance despite joining one of their meetings in Brazil last week and being listed as a member on the group’s website.
The inclusion of Saudi Arabia in BRICS is a diplomatically sensitive issue, and the nation has refrained from formally joining the economic bloc as it did not want to anger the US and President Trump.
BRICS – which officially formed in 2009 – is an alliance between Brazil, Russia, India, China, South Africa and other countries as a means of countering Western economic dominance. In 2024, it expanded to include other nations, such as Iran, Egypt, Ethiopia, and the United Arab Emirates.
Saudi Arabia’s hesitancy to join is due to it being caught between China, its biggest exporter of oil, and the US, its security and technology partner. The US is poised to offer Saudi Arabia a $100 billion arms deal.
Last December, Trump threatened to raise tariffs on all BRICS nations to 100% if the alliance committed to creating a new currency or to another currency that would usurp the US dollar.
As stated by Trump at the time:
“The idea that the BRICS Countries are trying to move away from the dollar while we stand by and watch is OVER. We require a commitment from these countries that they will neither create a new BRICS currency, nor back any other currency to replace the mighty US dollar or, they will face 100% tariffs, and should expect to say goodbye to selling into the wonderful US economy.”
@ Newshounds News™
Source: DailyHodl
~~~~~~~~~
3 NON-BRICS NATIONS HAD PLANNED TO LAUNCH OWN CURRENCY, WHAT HAPPENED?
Burkina Faso, Mali, and Niger’s Proposed Currency to Replace Dollar and Franc Fizzles Out
Initial Ambition: In 2023, Burkina Faso, Mali, and Niger announced plans to launch a new regional currency, seeking independence from the US dollar and the French-backed CFA franc—symbols of their colonial past.
Aims of the Currency: The initiative was positioned as a sovereignty move, part of broader efforts by the military-led Alliance of Sahel States (AES) to assert autonomy following a string of coups.
No Follow-Through: Nearly a year later, no concrete updates or progress have been reported. Experts now doubt the viability of the project due to:
Weak domestic currencies
Limited institutional capacity
Low international trust or demand for a new currency
Rhetoric vs. Reality: Analysts argue the proposal was more symbolic than strategic, noting even larger economies like BRICS have struggled to create a rival currency to the dollar.
Implication: The stalled effort underscores how currency independence is a monumental task, requiring more than political will—especially for nations grappling with economic instability and weak global leverage.
@ Newshounds News™
Source: Watcher Guru
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Seeds of Wisdom RV and Economic Updates Saturday Afternoon 5-10-25
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US SENATORS CRITICIZE DEMOCRATS FOR ‘PARTISAN POLITICS’ AMID STABLECOINS BILL FAILURE
In a negative development for the U.S. crypto industry, the highly anticipated stablecoins legislation failed to advance in the U.S. Senate after not receiving enough support from Senate Democrats. Several Republican senators have slammed the Democrats for putting “partisan politics above policy.”
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US SENATORS CRITICIZE DEMOCRATS FOR ‘PARTISAN POLITICS’ AMID STABLECOINS BILL FAILURE
In a negative development for the U.S. crypto industry, the highly anticipated stablecoins legislation failed to advance in the U.S. Senate after not receiving enough support from Senate Democrats. Several Republican senators have slammed the Democrats for putting “partisan politics above policy.”
Democrats Block Stablecoins Bill
On Thursday, the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act failed to pass the cloture vote in the Senate. Only 49 senators voted to advance the bill, falling short of the 60-vote threshold required to end debate.
Notably, two Republican senators also voted against advancing the bill alongside Democrats.
In February, Senator Bill Hagerty introduced the GENIUS Act to create a framework allowing tokens like USDT and USDC to fall under Federal Reserve rules.
The bill, co-sponsored by Senators Tim Scott, Cynthia Lummis, Kirsten Gillibrand, and Angela Alsobrooks, was designed to establish a:
“safe and pro-growth regulatory framework that will unleash innovation and advance the President’s mission to make America the world capital of crypto.”
Despite being considered bipartisan, ten Senate Democrats expressed last-minute concerns on May 3, with four former supporters reversing their positions.
Their objections included:
Missing AML (Anti-Money Laundering) and national security safeguards
Ambiguous regulations that could expose crypto markets to abuse
Senator Elizabeth Warren took the strongest stance, urging rejection of the GENIUS Act. On May 4, she claimed the Trump family could benefit from World Liberty Financial’s USD1 stablecoin deal with MGX, a UAE-based firm.
This deal involved a $2 billion investment linked to Binance and WLFI’s stablecoin, which Warren said would “enable this type of corruption.”
US Senators Call Out ‘Political Gamesmanship’
Senator Tim Scott, a co-sponsor of the bill and Chairman of the Senate Banking Committee, denounced the opposition on May 8:
“It should have been a historic day for Americans (...) Instead, we witnessed a disappointing display of political gamesmanship that puts partisan politics above policy, and obstruction above innovation.”
Scott insisted the shift wasn't about the bill’s content, but a political move against President Trump and his legislative goals.
Senator Lummis echoed this on X:
“Make no mistake, digital assets are the future and America must lead the way.”
“It’s important that we continue moving digital asset legislation forward that preserves America’s dollar dominance and makes America the crypto capital of the world.”
Bessent Blasts Missed Opportunity
Treasury Secretary Scott Bessent also weighed in, saying the world needs American leadership for stablecoins and digital assets to thrive.
“Without it, stablecoins will be subject to a patchwork of state regulations instead of a streamlined federal framework.”
“The world is watching while American lawmakers twiddle their thumbs. Senators who voted to stonewall U.S. ingenuity today face a simple choice: Either step up and lead or watch digital asset innovation move offshore.”
@ Newshounds News™
Source: Bitcoinist
~~~~~~~~~
BLACKROCK, CRYPTO TASK FORCE DISCUSS ETP STAKING, TOKENIZATION
Staking for Ether ETFs has been one of the hot topics in 2025, with Grayscale and Fidelity both filing for rule changes that would allow this staking functionality.
Wall Street giant BlackRock recently met with the SEC’s Crypto Task Force to discuss two key areas:
Staking within crypto exchange-traded products (ETPs)
Tokenization of securities
These discussions could significantly advance institutional interest in crypto markets.
ETP Staking and SEC Conversations
According to a May 9 memo published by the task force, BlackRock initiated the meeting to:
“[d]iscuss perspectives on treatment of staking, including considerations for facilitating ETPs with staking capabilities.”
BlackRock has emphasized that while Ether ETFs have seen success, they are less effective without staking.
Other ETF issuers echo this sentiment. On Feb. 15, the New York Stock Exchange proposed a rule change to enable staking services for Grayscale’s spot Ether ETFs.
In April, the SEC delayed its decision on this proposal. As it stands, BlackRock and Grayscale remain behind the largest Ether ETFs by market cap, according to Sosovalue.
Proof-of-stake blockchains allow users to lock their tokens to earn yield. If the SEC approves staking for Ether ETFs, this could pave the way for similar requests for altcoins, including Solana ETFs.
Tokenization Also in Focus
In addition to staking, BlackRock addressed the tokenization of securities within the federal securities regulatory framework.
Securities include stocks and bonds—assets where investors expect monetary gain. Tokenization offers several benefits:
Faster settlement times
Lower costs vs. traditional finance infrastructure
24/7 market access
BlackRock already runs a tokenized U.S. federal debt fund called BUIDL, which is currently the largest of its kind, with a $2.9 billion market cap.
Other players include Franklin Templeton, whose BENJI fund also tokenizes securities.
Robinhood Enters the Game
Meanwhile, brokerage firm Robinhood is exploring tokenization as well. It is reportedly working on a blockchain solution to allow European retail investors to trade U.S. securities such as stocks.
@ Newshounds News™
Source: CoinTelegraph
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Seeds of Wisdom RV and Economic Updates Saturday Morning 5-10-25
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SEC MOVES TO END RIPPLE CASE AS COMMISSIONER REBELS: $75M RETURNS TO XRP GIANT
The SEC Ripple lawsuit has just reached a pivotal turning point as the Securities and Exchange Commission recently filed a motion seeking court approval for a settlement with Ripple Labs. Under the proposed deal that’s currently being reviewed, Ripple would recover $75 million of the $125 million that was held in escrow, while the SEC would receive the remaining $50 million.
Ripple’s $75M SEC Settlement: What It Means for XRP and Crypto Regulation
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SEC MOVES TO END RIPPLE CASE AS COMMISSIONER REBELS: $75M RETURNS TO XRP GIANT
The SEC Ripple lawsuit has just reached a pivotal turning point as the Securities and Exchange Commission recently filed a motion seeking court approval for a settlement with Ripple Labs. Under the proposed deal that’s currently being reviewed, Ripple would recover $75 million of the $125 million that was held in escrow, while the SEC would receive the remaining $50 million.
Ripple’s $75M SEC Settlement: What It Means for XRP and Crypto Regulation
The SEC Ripple lawsuit settlement marks what appears to be the potential end to a legal battle that first began back in December 2020. As per the May 8 court filings, both parties have agreed to withdraw their appeals, virtually ending one of the most important and keenly followed cases in crypto regulation news.
Commissioner’s Opposition Reveals SEC Division
Not everyone at the SEC supports the resolution. Commissioner Caroline A. Crenshaw issued a public dissent:
“This settlement is a tremendous disservice to the investing public.”
Crenshaw warned that the SEC Ripple lawsuit settlement could weaken the agency’s enforcement power and negatively impact future XRP price prediction analyses in unexpected ways.
XRP’s Market Struggle During Litigation
The XRP lawsuit impact was immediate and significant when the case began. According to the crypto analyst behind the account All Things XRP:
“It didn’t just slow XRP down — it stole years of growth.”
While Bitcoin and Ethereum surged during the 2021–2023 bull market, XRP stagnated between approximately $0.30–$0.50, missing out on substantial gains and altering many XRP price predictions at the time.
Settlement Terms and Future Implications
The SEC Ripple lawsuit resolution preserves Judge Torres’ 2023 ruling that only institutional XRP sales violated securities laws. This legal distinction remains critical for ongoing crypto regulation news and Ripple’s future operations.
If the $125 million penalty clears the court in the next few days:
$75 million would be returned to Ripple
$50 million would remain with the SEC
This result may provide badly needed regulatory clarity and underscore the lasting effects of prolonged litigation on XRP price forecasts and broader digital asset regulation.
@ Newshounds News™
Source: Watcher Guru
~~~~~~~~~
US TREASURY SECRETARY BESSENT LAMBASTS SENATE FOR BLOCKING STABLECOIN BILL, CALLS IT ‘MISSED OPPORTUNITY’ FOR AMERICAN LEADERSHIP
▪️ U.S. senators voted Thursday to halt progress on a stablecoin regulation bill amid escalating tensions over President Donald Trump’s crypto involvement.
▪️ Treasury Secretary Scott Bessent said American leadership is needed for stablecoins and other digital assets to thrive globally, lambasting the Senate’s “missed opportunity.”
U.S. Treasury Secretary Scott Bessent lambasted the Senate's decision on Thursday to halt the progress of the GENIUS Act amid rising tensions over President Trump's increasing crypto involvement and concerns about specific aspects of the proposed stablecoin bill.
"For stablecoins and other digital assets to thrive globally, the world needs American leadership," Bessent posted on X. "The Senate missed an opportunity to provide that leadership today by failing to advance the GENIUS Act."
Secretary Bessent described the bill as a "once-in-a-generation opportunity" to expand dollar dominance and boost U.S. influence in financial innovation. He argued that without such legislation, stablecoins will remain governed by a fragmented set of state rules rather than a unified federal approach that better supports growth and global competitiveness.
"The world is watching while American lawmakers twiddle their thumbs," Bessent said. "Senators who voted to stonewall U.S. ingenuity today face a simple choice: Either step up and lead or watch digital asset innovation move offshore."
A not-so-brilliant delay for the GENIUS Act
The Senate Banking Committee earlier voted to advance the GENIUS Act in March. The bill requires:
100% reserve backing with U.S. dollars and similarly liquid assets
Annual audits
Prohibits foreign issuance in the country
The Senate voted 49-48 against the bill in its current form on Thursday, with Sens. Josh Hawley (R-Mo.) and Rand Paul (R-Ky.) joining Democrats in opposing the procedural vote.
While the GENIUS Act bill resulted from bipartisan negotiations, Democrats recently raised concerns about unfinished bill text, foreign issuer oversight, and anti-money laundering provisions.
Senator Mark Warner (D-Va.) said he couldn't support legislation that wasn't yet finalized. Senate Majority Leader John Thune (R-S.D.), despite also voting no, said he did so to allow the bill to be reconsidered later, criticizing the Democrats amid multiple revised versions:
"I just have to say, frankly, I just don't get it," Thune said. "I don't know what more they want."
Tensions deepened as Trump’s personal and financial ties to crypto — including memecoin launches, $1.5 million-per-plate crypto fundraisers, and backing DeFi project World Liberty Financial — sparked accusations of conflict of interest ahead of the vote.
Some Democrats, including Rep. Maxine Waters (D-Calif.), also boycotted a crypto-focused House hearing this week, citing the president's direct crypto holdings and influence over agencies. The House Financial Services Committee also recently voted to advance a similar bill, the STABLE Act, with anti-money laundering and reserve requirements.
@ Newshounds News™
Source: The Block
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Economist’s “News and Views” Friday 5-9-2025
GOLD: The Lifeboat Amid $300 Trillion Debt Crisis, “The Dollar War is Over” | Matthew Piepenburg
Soar financially: 5-9-2025
Is this the final chapter for the U.S. dollar’s dominance? Matthew Piepenburg joins us to break down historic global shifts, surging gold prices, and what he calls the ‘Stalingrad moment’ of the U.S. dollar.
From tariff wars and autocratic rises to BRICS realignment and bond market breakdowns, Piepenburg outlines why everything is pointing to a new global order. Is gold finally vindicated? Is the Titanic sinking? Why aren’t we hearing more about BRICS?
GOLD: The Lifeboat Amid $300 Trillion Debt Crisis, “The Dollar War is Over” | Matthew Piepenburg
Soar financially: 5-9-2025
Is this the final chapter for the U.S. dollar’s dominance? Matthew Piepenburg joins us to break down historic global shifts, surging gold prices, and what he calls the ‘Stalingrad moment’ of the U.S. dollar.
From tariff wars and autocratic rises to BRICS realignment and bond market breakdowns, Piepenburg outlines why everything is pointing to a new global order. Is gold finally vindicated? Is the Titanic sinking? Why aren’t we hearing more about BRICS?
00:00 - “The Dollar’s Stalingrad Moment”
00:36 - Welcome back: Matthew Piepenburg returns
01:00 - Gold was $750 cheaper last time we spoke
01:30 - 80 years since WWII: Is a global reset underway?
06:00 - The rise of autocrats: Populism or debt desperation?
11:30 - Titanic analogies & government patchwork fixes
18:00 - Can tariffs save a sinking ship?
26:00 - U.S. debt & bond market revolt—are foreign holders fed up?
37:00 - Bretton Woods 2.0 under Trump?
42:00 - Are BRICS just silent… or planning something massive?
49:00 - Is the gold community finally vindicated?
56:00 - Did gold just break the cartel?
The Fed is Stuck - Get Ready for QE
Heresy Financial: 5-9-2025
TIMECODES
00:00 Market Confusion After FOMC
00:15 QE is Coming Soon
00:32 How to Read Fed Statements
01:05 Fed Dismisses GDP Drop
01:50 Risks of Inflation vs Unemployment
03:00 Fed Tools and Tradeoffs
04:00 Fed Slowing Balance Sheet Reduction
05:01 QE is Around the Corner
06:00 Tariffs and Deflation Pressure
07:02 Why the Fed Will Pivot
07:28 Long-Term Debt Cycle Insight
08:19 Higher for Longer is the New Normal
Seeds of Wisdom RV and Economic Updates Friday Afternoon 5-9-25
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THREE NEW U.S. STATE-LEVEL BITCOIN BILLS SIGNED INTO LAW
From New Hampshire to Arizona to Oregon, more proposed Bitcoin legislation has become law in recent days.
This week, three U.S. states have enacted bitcoin-related bills into law.
On Tuesday, New Hampshire became the first state to sign into law a bill that would allow for the creation of a strategic bitcoin reserve (SBR).
On Wednesday, Arizona enacted its second bill related to bitcoin, blockchain, and digital assets.
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THREE NEW U.S. STATE-LEVEL BITCOIN BILLS SIGNED INTO LAW
From New Hampshire to Arizona to Oregon, more proposed Bitcoin legislation has become law in recent days.
This week, three U.S. states have enacted bitcoin-related bills into law.
On Tuesday, New Hampshire became the first state to sign into law a bill that would allow for the creation of a strategic bitcoin reserve (SBR).
On Wednesday, Arizona enacted its second bill related to bitcoin, blockchain, and digital assets.
Also on Wednesday, Oregon’s governor signed a bill into law that updates the state’s commercial code to recognize digital assets such as bitcoin as collateral.
New Hampshire Can Now Establish An SBR
On Tuesday, New Hampshire signed HB302 into law, making it the first state in U.S. history with the legal footing to create an SBR.
The new law enables the state treasurer to invest in digital assets that have a market cap of over $500 billion. (Bitcoin is the only digital asset that currently meets this criteria.)
While the law doesn’t specifically call for the creation of an SBR, it does enable the state’s treasurer to create one.
This historic law was enacted thanks in part to the efforts of Rep. Keith Ammon, the primary sponsor for this bitcoin-related bill.
Arizona Governor Vetoes One Bitcoin Bill But Signs Another
On May 2, Arizona Governor Katie Hobbs vetoed SB1025, which would have enabled the state treasurer and retirement system to invest 10% of their available funds into virtual currencies.
The bill was known as the “Arizona Strategic Bitcoin Reserve Act”.
However, on May 7, Governor Hobbs signed HB2749 into law — a bill that also establishes a state-level digital assets reserve.
HB2749 amends Arizona’s unclaimed financial property statutes to allow the state to claim bitcoin or digital assets that have been abandoned or unclaimed after three years.
This is the second bitcoin-related bill Governor Hobbs has signed in recent weeks — the first being HB2342 on April 18, which protects individuals running blockchain nodes from local restrictions.
New Oregon Law Recognizes Bitcoin As Collateral
On Wednesday, Oregon Governor Tina Kotek signed SB167 into law.
This law updates Oregon’s Uniform Commercial Code (UCC) to:
Recognize digital assets such as bitcoin as collateral
Introduce Article 12, which establishes a legal framework for “controllable electronic records,” including cryptocurrencies
This sets the legal groundwork for bitcoin and other digital assets to be used in traditional financial products in Oregon.
Picking Up The Pace
Prior to this week, only three bitcoin-related bills had been signed into law:
Utah’s HB0230 (signed March 12): Defined and regulated digital assets
Kentucky’s HB701 (signed March 24): Offered protections for individuals and businesses engaging with digital assets
Arizona’s HB2342 (discussed above)
If this week is any indication, more Bitcoin legislation may be codified into law in the near future.
@ Newshounds News™
Source: Bitcoin Magazine
~~~~~~~~~
BRICS: ASIA COULD DUMP $2.5 TRILLION WORTH OF US DOLLAR CURRENCY
The US dollar may face a huge crisis from BRICS and other Asian currencies, as Stephen Jen, CEO of Eurizon SLJ Capital, revealed to Bloomberg that an “avalanche” of USD selling worth $2.5 trillion could come from Asian countries.
He explained that Asian exporters and investors have stockpiled a massive amount of USD over the years, which could soon be dumped as the greenback weakens against local currencies in 2025.
The Bloomberg currency index shows that the USD is down 8% since February, while local currencies are outperforming the global reserve currency.
This trend gives the BRICS alliance more momentum to push the de-dollarization agenda, as $2.5 trillion worth of USD now hangs on a thread.
“We suspect these dollar hoardings by Asian exporters and institutional investors may be extremely large. Possibly on the order of $2.5 trillion or so. And pose sharp downside risks to the dollar vis-à-vis these Asian currencies,”
– Jen and Joana Freire
BRICS: US Dollar Faces a Threat of $2.5 Trillion Sell-off
BRICS and other developing nations are now economically strong enough to offload their US dollar reserves.
There is a growing belief in an “important imbalance in the world” that puts the US dollar in a vulnerable position, said Jen.
The long-term appeal of the USD is fading, as local currencies offer advantages like:
No excessive debt burdens
Mutual GDP strengthening when used for trade
The dollar’s dominance is shrinking globally.
De-Dollarization Expands Beyond BRICS
Beyond BRICS, de-dollarization is also accelerating in countries such as:
Taiwan
Malaysia
Vietnam
In these regions, the US dollar is becoming secondary in trade and investment.
Jen further noted that Asian nations have external surpluses, which allow them to hedge against USD fluctuations with more flexibility.
“The American economy is at the crossroads of a global paradigm shift where its power is on the decline.”
@ Newshounds News™
Source: Watcher Guru
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