Goldilocks' Comments and Global Economic News Wednesday Evening 12-20-23

Good Evening Dinar Recaps,

In recent letters directed to United States lawmakers, Tether disclosed it has a Know Your Customer (KYC) program, a transaction monitoring system and a proactive approach to identifying suspicious accounts and activities.

“We have always assisted law enforcement when called upon to act, and we remain fully committed to continuing to work proactively with agencies globally. Tether has and will assist in identifying and freezing addresses subject to sanctions, engaged in illicit activity, or engaged in any form of terrorist financing."

Tether also disclosed it uses surveillance monitoring tools to continuously track client activity, and onboarded the Federal Bureau of Investigation (FBI) to its platform as part of collaboration efforts with law enforcement. Tether said:"These strategic relationships reinforce our commitment to supporting law enforcement in combating nefarious activities and contributing to the recovery of victims’ funds."

 Goldilocks' Comments and Global Economic News Monday Evening 12-18-23

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"The Basel Committee on Banking Supervision has issued a public consultation on proposed amendments to its standard on banks' exposures to cryptoassets."  These proposed changes will flesh out the criteria needed to back stablecoins with reserve assets and require Banks to have an understanding of how these procedures work to ensure a sufficient understanding of their use.

These public comments and proposed amendments will become crypto asset standards for the next economy. The purpose of public consultation is to allow citizen input to inform policy design along with decision-making processes.

 Goldilocks' Comments and Global Economic News Saturday Evening 12-16-23

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"CFTC Approves Proposed Amendments to Regulations Regarding Real-Time Public Reporting and Swap Data Recordkeeping and Reporting Requirements"

This new data collection is expected to harmonize International Data swap transactions that take place on the Forex Market. It begins on January 1st, 2024.

It is designed to create accurate and efficient reporting of the data being transferred back and forth between cross-border International trading.

The UPI is expected to adopt and use this new reporting rule on January 29th, 2024. The Unified Payments Interface is the foreign currency mechanism that India is going to use next year in International trade between countries.

 Goldilocks' Comments and Global Economic News Friday AM 12-15-23

Good Morning Dinar Recaps,

Iraq has completed all of their banking competencies required by the CBI in Iraq to meet International Banking Standards. And tomorrow, they are expected to finish their banking reforms with their managers per a recent article.

At this time, they will have two weeks to do logistics training with their employees to prepare them for working with International Exchange going forward and only using the Iraqi Dinar locally.

Iraq has signed a number of agreements around the world to begin trading beyond their borders, and they have exchanged currencies with several countries to enable them to move forward with exports and imports.

Goldilocks' Comments and Global Economic News Thursday Evening 12-14-23

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Baghdad (IraqiNews.com) – The Central Bank of Iraq (CBI) made a decision today to set up what will be known as the National Company for Electronic Payment Systems.

It will be in charge of creating, running, and overseeing the country’s electronic payment and litigation systems (Banking Laws). It will also be in charge of expanding the Payment Systems functionality.

Goldilocks' Comments and Global Economic News Wednesday Evening 12-13-23

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Today, we will hear from Jerome Powell during the Federal Open Market Committee meeting.
Many economists foresee a cautious approach in today's meeting. Most agree, there will be no rate hikes at the end of the day's meeting. Time will tell on this one of course, but it is expected that policy reviews and preparing for new directions in the coming year will be at the top of their list and on the table.

Goldilocks' Comments and Global Economic News Tuesday Evening 12-12-23

Good evening Dinar Recaps,

HSBC is pioneering trade solutions in cross-border international trading.

Their current focus is on Bank Guarantees. This allows you to make a foreign currency exchange within minutes through a bank guarantee.  A bank guarantee secures payment security on both sides of a trade allowing you to do it quickly, even though, it may take days to completely clear inside the banking system.  Agreements between two banking entities allow this process to take place through a bank guarantee.