Iraq Economic News and Points to Ponder Wednesday AM 4-9-25

Al-Alaq: Digital Currencies Will Contribute To Reshaping The Traditional Banking System.

Time: 2025/04/07 13:22:22 Read: 1,740 times  {Economic: Al Furat News} Central Bank Governor Ali Al-Alaq confirmed on Monday that  digital currencies will contribute to reshaping the traditional banking system.   In a speech at the Iraqi Banking Sector Reform Conference, Al-Alaq said,
 
"The Central Bank aims to achieve a developed economy," stressing that "investment in research and development in the field of artificial intelligence must be increased." He added that "digital currencies could reshape the traditional banking system," noting that "the Central Bank has announced its readiness to implement a plan to reform the banking sector."      
https://alforatnews.iq/news/العلاق-العملات-الرقمية-ستسهم-في-إعادة-تشكيل-النظام-المصرفي-التقليدي  

Digital Currencies To Reshape Iraq’s Banking Sector 

Iraq  Amr Salem  April 8, 2025  283  2 min  The Central Bank of Iraq. Photo: INA  Baghdad (IraqiNews.com) – The governor of the Central Bank of Iraq (CBI), Ali Al-Alaq, said on Monday that digital currencies will help transform Iraq’s conventional banking system.
 
Al-Alaq clarified during the Conference on Reforming the Iraqi Banking Sector that the
 
CBI wants to establish an advanced economy and emphasized the need for more funding for artificial intelligence research and development.
 
Al-Alaq explained that digital currencies have the potential to transform the conventional banking system, noting that the CBI has declared its willingness to carry out a plan for banking sector reform, the Iraqi News Agency (INA) reported.
 
In collaboration with the international consulting company Oliver Wyman, the CBI announced an extensive reform strategy designed to make the country’s private banking industry a robust, innovative, and expansion-oriented system.
 
Al-Alaq revealed in late February that the CBI is planning to create a digital currency to replace paper notes in transactions with central banks.
 
The Iraqi official added that fundamental changes will take place in the banking and financial systems,
including the limited use of paper notes, as they will be replaced by digital currencies in transactions between central banks.   https://www.iraqinews.com/iraq/digital-currencies-to-reshape-iraqs-banking-sector/

Parliamentary Finance Committee: Rebuilding Confidence In The Banking System Requires Developing The Infrastructure And Enhancing Its Cybersecurity.
 
Monday, April 7, 2025 14:01 | Economic     Number of readings: 495  Baghdad / NINA / The Parliamentary Finance Committee affirmed that the launch of the banking sector development project represents a
 
     starting point for comprehensive reform of the financial and monetary systems,
     paving the way for achieving sustainable development and the desired economic reform.

During his participation in the Banking Sector Development Conference, which kicked off today, Monday, in the capital, Baghdad, in cooperation with Oliver Wyman, the head of the committee, 
MP Atwan Al-Atwani, pointed out the parliament's keenness to support the efforts of the Central Bank in promoting the concepts of
 
     sustainable financing,  encouraging public and private banks to finance economic activities and development projects, and  diversifying sources of income, which would contribute to reducing the financial deficit in public budgets.  

He added:  "The banking sector is not just a financial instrument, but rather
the cornerstone for driving the national economy and combating corruption," indicating that
 
"developing this sector is 
     the cornerstone of the economic reform project and
     a pivotal step in moving towards a diversified economy,
     away from excessive reliance on oil revenues."  

He continued,  "Introducing modern banking systems into the Tax and Customs Administration will contribute to 
     improving financial transaction tracking mechanisms,
     enhance revenue collection efficiency, and
     limit tax evasion, in addition to    closing unofficial outlets that drain the state's resources and weaken its ability to invest and provide services."

Al-Atwani also emphasized that 
"rebuilding confidence in the banking system and
expanding the scope of digital transactions, both domestically and internationally,
requires developing the banking sector's infrastructure and enhancing its cybersecurity.
 
Furthermore, the reform process requires
     establishing genuine partnerships with international banks and institutions, and
     regulating foreign transfers to ensure compliance with international standards."
 
He called for the formulation of a clear understanding with the World Bank and the US Treasury, establishing the principle that the Central Bank of Iraq is the body authorized to evaluate banks' performance, ensure their compliance, and punish violators, to avoid any sudden decisions that negatively impact the banking sector.

He emphasized the need for a comprehensive reform revolution, starting with the banking sector, stressing:
 
"This requires genuine political will, institutional cooperation, and a strategic vision that goes beyond temporary solutions."
 
He also called for collective responsibility for reforming the banking sector, as it is a national priority that    affects national security and financial stability,   directly impacts citizens' livelihoods,achieves social justice, and  ensures the future of future generations.  /End 5   https://ninanews.com/Website/News/Details?key=1196152  

Parliamentary Finance Committee: Developing The Banking Sector Is A Fundamental Pillar For Achieving Comprehensive Economic Reform
 
Economy    Yesterday, Baghdad – INA  The Finance Committee of the House of Representatives affirmed, on Monday, the Central Bank’s management’s support    for enhancing sustainable financing, while noting that   developing the banking sector is a fundamental pillar for achieving comprehensive economic reform.
 
Committee Chairman Atwan Al-Atwani said in a speech during the Iraqi Banking Sector Reform Conference, which was followed by the Iraqi News Agency (INA):
 
"The banking sector reform project represents the   starting point for developing the financial and monetary system based on solid scientific foundations, and the     starting point for comprehensive economic reform and achieving sustainable development." 

 He added,  "The Finance Committee of the Iraqi Council of Representatives is keen to support the management of the Central Bank of Iraq in its efforts to   enhance sustainable   financing , encourage    government and private banks to finance economic activities and development projects, and  diversify revenue sources, thus contributing to covering the financial deficit in public budgets.
 
This is especially true since the banking sector is not just a financial system, but rather the backbone of stimulating the economy and combating corruption." 

He explained that "developing the banking sector is a fundamental pillar for achieving comprehensive economic reform and a major turning point toward a diversified economy, away from oil rents."  He continued,
 
"In light of the trend toward maximizing non-oil revenues, the introduction of modern banking systems into tax and customs operations provides a clear path for tracking financial transactions and collecting revenue more efficiently.
 
It also contributes to reducing tax evasion and closing informal outlets that drain the state's resources and weaken its ability to invest and provide services." 

He explained that  "restoring confidence in our banking system and expanding digital financial transactions requires developing the infrastructure for this sector and providing cybersecurity for these transactions." He emphasized,
 
"The process of reforming and developing the banking sector must be accompanied by a movement to establish genuine partnerships with international correspondent institutions and banks to  regulate foreign remittances,   ensuring  compliance with international standards and the  controls of relevant financial institutions.
 
This must also include establishing a clear understanding with the World Bank and the US Treasury, emphasizing that the Central Bank of Iraq is responsible for evaluating the performance and compliance of private government banks and punishing violators.
 
This will help avoid any improvised decisions or sudden external sanctions that could put our banks at risk and disrupt their operations." He added, "We need a reform revolution in all sectors, especially the banking sector.
 
This requires genuine will, collective action, and effective partnerships.
 
Most importantly, we need a clear vision that goes beyond temporary solutions to create modern financial institutions capable of confronting economic challenges and crises, providing all necessary facilities to serve citizens and keep pace with modern requirements."

He pointed out that "reforming the banking sector   is a shared responsibility and   must be a priority for both the legislative and executive authorities,
 
given its direct impact on driving all productive sectors, achieving national security and financial stability, and consequently improving people's livelihoods, promoting social justice, and securing the future of future generations."    https://www.ina.iq/231534--.html   

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Wednesday Morning 4-9-25

Good Morning Dinar Recaps,

NEW YORK BILL PROPOSES USING BLOCKCHAIN TO SAFEGUARD ELECTION RESULTS

Assemblyman Clyde Vanel’s new proposal would evaluate how blockchain can secure voter records and election results.

Blockchain may soon be part of New York’s strategy to secure the democratic process.

That's the hope of Clyde Vanel (D-33), who filed Assembly Bill A7716 on Tuesday, proposing that the New York State Board of Elections study how blockchain technology could be used to protect voter records and election results.

The bill, currently in the Assembly Election Law Committee, calls for a comprehensive report within one year, examining blockchain’s potential as a tool for election integrity.

The legislation defines blockchain as a decentralized, cryptographically secured, immutable, and auditable ledger capable of delivering an “uncensored truth.”

It mandates that the Board of Elections collaborate with the Office of Information Technology Services and engage experts in blockchain, cybersecurity, voter fraud, and election systems.

The final report must also consider blockchain implementations in other states and jurisdictions.

If the bill advances, it would need to pass through the full Assembly, undergo the same process in the Senate, and then be signed into law by the governor.

For now, it remains under committee review, pending discussion or amendment. Yet, should the bill be enacted, the state board would be legally obligated to deliver its findings within 12 months.

This is not Vanel’s first push for such legislation. Versions of the bill have appeared in legislative sessions since 2017, though none have made it to the Governor’s desk.

This year’s version, however, arrives amid growing nationwide interest in exploring blockchain's role in public infrastructure, even as other states pursue very different use cases, such as crypto investment and regulatory reform.

Last month, Utah lawmakers approved HB230, a blockchain-friendly bill that protects crypto activities and infrastructure, but stripped language that would’ve allowed the state to invest in Bitcoin directly.

HB230 prohibits state and local governments from restricting individuals' and businesses' ability to accept digital assets as payment, use self-hosted or hardware wallets, and participate in blockchain activities such as operating nodes, developing software, transferring assets, and staking.

Meanwhile, the Bitcoin investment strategy gained momentum following President Trump’s March executive order to establish a Strategic Bitcoin Reserve at the federal level.

As of now, 47 Bitcoin reserve bills have been introduced in 26 states, with 41 still live, per reserve tracker Bitcoin Law data.

@ Newshounds News™
Source:  Decrypt

~~~~~~~~~

WILL PAUL ATKINS LEAD THE SEC? SENATE TO DECIDE

The U.S. Senate will vote at 11:30 AM tomorrow to decide whether to move forward with the nomination of Paul Atkins as SEC Chair. If the cloture vote passes, a final confirmation could happen as early as 7:00 PM the same day.

Atkins has been nominated to serve as a Member of the Securities and Exchange Commission for the rest of the current term, which ends on June 5, 2026. The outcome could shape the SEC’s direction moving forward.

@ Newshounds News™
Source:  Coinpedia

~~~~~~~~~

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DOGE Stimulus Check Update

DOGE Stimulus Check Update: Here's the latest news on the dividend and when it may arrive

Shelby Slade, Arizona Republic  Tue, April 8, 2025

Many Americans worried about money and finances have been closely watching for the idea of DOGE dividends to become a reality. Azoria CEO James Fishback, the person who came up with the dividend idea, has said that he and others are working with lawmakers to get a proposal for the stimulus checks in front of Congress, which is the first step in the process.

There are other hurdles for the proposal, too, including the United States' current economic situation and saving enough money via the Department of Government Efficiency's cuts.

Here is the latest update on DOGE stimulus checks, including who would be eligible for the payment and when the dividends could be sent.

DOGE Stimulus Check Update

There are no major updates about the DOGE stimulus check. A formal proposal has not been made in Congress, which is the first step in the process. However, the CEO credited with the idea has said that he and his team are working on it.

"My team and I have met with dozens of Members of Congress in the past month. I am confident that DOGE Dividend checks with happen," James Fishback said in a April 1 post on X, formerly Twitter.

"Hard-working taxpayers deserve to be cut into DOGE's savings. It was *their* money all along."

There has also been intense speculation in Washington, D.C., about Elon Musk's future with the Trump administration. The conversation was triggered in part by Trump mentioning that Musk would need to return to overseeing his companies. Further speculation that Musk was being pushed out began to spread although the White House pushed back on that idea later in the week.

Musk also appeared to dodge questions about the DOGE stimulus checks — an idea that went viral among supporters in February — during a rally in Wisconsin on March 30. The billionaire and Tesla CEO ceded that any stimulus from DOGE's dubious savings would have to go through a congressional vote.

"It's somewhat up to Congress and maybe the president to, you know, as to whether specific checks are cut," Musk said.

When will DOGE stimulus checks be sent?

TO READ MORE: https://www.yahoo.com/news/doge-stimulus-check-heres-latest-145755327.html

“Tidbits From TNT” Wednesday Morning 4-9-2025

TNT:

Tishwash:  Tomorrow... Iraqi and American Chambers of Commerce Sign Contract to Regulate Private Sector Operations

The head of the Federation of Iraqi Chambers of Commerce, Abdul Razzaq al-Zuhairi, announced today, Tuesday, the signing of an agreement with the American Chambers of Commerce to regulate the private sector tomorrow, Wednesday. He explained that the government has included regulating the private sector in its program.

In a statement to Al-Iraqiya News Agency, followed by the Iraqi News Agency (INA), al-Zuhairi said, "Tomorrow will witness the signing of an agreement with the American Chambers of Commerce to regulate the private sector."

He explained that "American companies are distinguished by greater flexibility and capabilities, and they have extensive experience working with countries around the world. In addition, Americans have everything they need to work in Iraq, especially in the field of industry."

He pointed out that "the banking base in Iraq has become large and global, and it is possible for us to work within it." He explained that "the agreement signed yesterday, in addition to the agreement to be signed tomorrow, includes regulating work in the Iraqi and American private sectors." He emphasized that "the government has included in its program the regulation of the private sector and supports many areas, especially loans and the purchase of machinery and equipment," noting that "despite the difficult circumstances we faced, the results were positive on the ground."

Al-Zuhairi also referred to "addressing taxes, customs, the companies law, and the agency law," indicating that "there is a package that the government sent to Parliament for a vote, which is the most important package."

He explained that "the work of the private sector requires continuous updating, as there are new systems, laws, and new programs that change from time to time. Land acquisition was previously under the agrarian reform law, as was the energy issue, and many other issues have been finalized."

He explained that "what the government has done over the past period has been exceptional," expressing his hope that "support for the private sector will continue in order to attract the largest number of international companies and employ the workforce."  link

************

Tishwash:  US Energy Secretary: I will visit the Middle East this week to promote investment in the United States.

 US Energy Secretary Chris Wright will begin a two-week tour of three Middle Eastern countries, including Saudi Arabia, on Wednesday, a source familiar with the matter told Reuters.

This trip, which will also include Qatar and the United Arab Emirates, is expected to pave the way for President Donald Trump's visit to those countries, likely in mid-May.

"I will be visiting the Middle East this week to promote investment in America," Wright wrote on his personal X account on Tuesday.

Looking forward to visiting the Middle East this week and promoting investment in America! https://t.co/qbj0ghIeoj

— Secretary Chris Wright (@SecretaryWright) April 8, 2025

 A source at the Ministry of Energy said that Wright will begin his trip in the United Arab Emirates, followed by Saudi Arabia over the weekend, and then Qatar, and will also meet with leaders of several countries. The source added that Wright will likely hold talks on ensuring abundant global oil supplies outside of countries whose oil exports are subject to US sanctions, including Iran, Venezuela, and Russia.

Discussions will also focus on the three countries' investments in the United States, after the UAE last month committed to a $1.4 trillion, 10-year investment framework in artificial intelligence, semiconductor, energy, and manufacturing infrastructure.

The source said that Wright will visit oil and gas production sites in the Middle East, looking for ways to reduce costs. He added that he will also visit a nuclear power plant in the UAE.  link

*************

Tishwash:  How Iraq is Modernising and Diversifying its Growing Economy

How Iraq is Modernising and Diversifying its Growing Economy

For the last three years Iraq has enjoyed relative stability, good oil prices and a growing economy. For those who invested in the Iraqi stock market, returns of over 100% are common and GDP in 2025 is estimated to be up to 5%.

Oil and Gas sales has driven this expansion, but other factors such as sovereign wealth funds are now encouraged by the GOI's stability to invest, such as the Saudis with their Public investment fund, the Qataris ( both government and private sector, and the Gulf states, have driven around $3.5bn investment into infrastructure, housing and the development road initiative, in addition to Iraqis investing in consumer real estate such as cafes and housing  all feeding off economic and political confidence. The government has also pledged up to $400bn of investment into development, infrastructure and the Al Fawr port complex and the new $15bn trade deal with UK for cyber, telco and defence support.

At IBBCs Baghdad conference in February, over 350 business delegates flocked to hear the leading minsters or oil, communications, foreign affairs and key advisors to the Prime Minister, expand on opportunities in Iraq, where the atmosphere was palpably enthusiastic to participate in the new Iraq economy.

Beyond Infrastructure we also see expansion in Schooling and Universities, in more diverse services such as travel, tech and professional services like law and banking. Collaboration with international companies and countries is key to Iraq's evolution, as new skills and technologies are coming into the country, driven by international confidence in Iraq. Iraq needs a more skilled workforce to enable engineering and business expansion, and companies like Unihouse and Mselect are supporting these skills.

Indeed, IBBCs membership mix reflects this diversification, modernisation and internationalisation of the economy: private schools, training and skills companies, tech and media companies, high end added value design, and the establishment of Agritech and marine sector companies bringing expertise into the country like DPD, AL Zaman Group(Marine Shipbuilding company Uk Ltd ) Gold Sponsors, and CJ-ICM.

At our Spring Conference at the Mansion House on June 3rd we will showcase the leaders in these new sectors and explain why they are now investing and establishing in Iraq.

You will also meet the best of British expertise, through the sagacity of Lord Howell on energy, Lord Green on banking, Professor Frank Gunter with his report on Iraq Entrepreneurs, and from Iraq the minister of Transport, who will outline the significant infrastructure opportunities, as well as other Iraqi officials soon to be confirmed. Underpinning UK investment the UKEF CEO, Tim Reid, will present how companies can access the £billions in UK trade guarantees, Jon Wilks CMG ( former Ambassador) will articulate his much anticipated geo political insights and dynamics especially with an election looming and developments in Syria, Iran and the Middle East

The IFC on investment initiatives led by Hogan Lovells (Gold sponsor) and with TBI (Gold Sponsor), and key IBBC companies in energy, finance , maritime, agritech, tech and education will be evident on stage.

For those wanting more interactive discussion there are roundtables on Entrepreneurship, Growth, Transport (with Sardar, Gold Sponsors), Education and a special Tourism and heritage panel and exhibition. On 2nd June will be a special networking reception at the Mansion house for delegates, and the Tech forum online - covering how AI and Tech support the services sector- including its use in education, investment and Pharma.

To view the latest speaker, line up and to register, please go to this link on IBBCs website.

While the worlds stock markets are in turmoil, for once, Iraq presents a beacon of economic and social stability as it takes the long march towards modernity and diversification of its economy. Come and hear how this is happening and meet the people who are making it happen. Register here for the IBBC Mansion House conference.

Gold sponsors include: Trade bank of Iraq, Sardar Group and Al Zaman Group (Marine Shipbuilding company Uk Ltd), Hogan Lovells International LLP  link

Mot:  The Only Way to Get Through is to Laugh ~~~~~~

Mot:  When I Was a ""Wee Lad"" ----

Iraq Economic News and Points to Ponder Tuesday Evening 4-8-25

Iraq Exports 5 Million Barrels Of Oil To The US In A Month

Energy   Economy News – Baghdad  The U.S. Energy Information Administration announced on Tuesday that Iraq's oil exports to the United States exceeded 5 million barrels during March.

The administration stated in a table seen by Al-Eqtisad News that "Iraq exported 5.487 million barrels of crude oil to the United States during the month of March, an increase from 4.900 million barrels in February."

She added, "Iraq exported an average of 170,000 barrels per day of crude oil to the United States during the first week of March, an average of 202,000 barrels per day in the second week, an average of 203,000 barrels per day in the third week, and an average of 132,000 barrels per day in the third week."

The US Energy Information Administration stated that "Iraq ranked seventh in its exports to the US last month, after Canada, which ranked first as the largest oil exporter to the US, followed by Mexico, Saudi Arabia, Brazil, Venezuela, and Colombia."

The administration noted that "Iraq came in second place among Arab countries exporting the most oil to America, after Saudi Arabia, which came in first with exports of 6.696 million barrels, and Libya came in third with exports of 1.829 million barrels."  https://economy-news.net/content.php?id=54227

A New Rise In The Dollar Exchange Rate Against The Dinar In Baghdad

Stock Exchange   Economy News – Baghdad  The dollar exchange rate rose against the dinar on Tuesday in Baghdad markets.

The dollar exchange rate rose on the Al-Kifah and Al-Harithiya stock exchanges, reaching 147,800 dinars per $100, compared to 147,750 dinars per $100 yesterday, Monday.

Selling prices at exchange offices in Baghdad's local markets remained stable, with the selling price reaching 148,750 dinars per $100, and the buying price reaching 146,750 dinars per $100. https://economy-news.net/content.php?id=54218

A US Bank Announces Its Readiness To Expand The Number Of Correspondent Accounts Opened For Iraqi Banks
Economy  | 04/08/2025  Mawazine News – Baghdad  US bank JPMorgan Chase expressed its willingness to expand the number of correspondent accounts opened for Iraqi banks on Tuesday.

A statement from the office of Prime Minister Mohammed Shia al-Sudani received by Mawazine News stated that "Al-Sudani received a delegation from JPMorgan Chase headed by the bank's Deputy Director, Daniel Zelikow, on the sidelines of the Iraqi Banking Sector Reform Conference held in Baghdad."

He added that "the meeting discussed enhancing cooperation in the financial and banking fields, and the bank's participation in financing various investment projects, in addition to examining mechanisms for securing credits and financial transfers and ensuring their delivery to their beneficiaries in Europe and the United States, which will contribute to improving services provided to Iraqi traders and importers."

He stressed "the importance of expanding the areas of partnership between Iraqi banks and JPMorgan Chase, noting the government's readiness to provide all forms of support to strengthen this relationship."

For its part, the JPMorgan Chase delegation expressed its willingness to increase cooperation with Iraq by expanding the number of correspondent accounts opened for Iraqi banks, and their willingness to finance a number of investment projects directly or through partner financial institutions. https://www.mawazin.net/Details.aspx?jimare=260645

Al-Sudani Discusses With JP Morgan Mechanisms To Secure Financial Transfers And Their Access To Europe And America

Banks  Economy News – Baghdad  Prime Minister Mohammed Shia al-Sudani discussed today, Tuesday, with a delegation from JPMorgan Chase, headed by the bank's Deputy General Manager, Daniel Zeljko, enhancing cooperation in the financial and banking sectors.

The Prime Minister's Media Office stated in a statement received by Al-Eqtisad News that "Al-Sudani met with a delegation from JPMorgan Chase, headed by the bank's Deputy Director, Daniel Zelikow, on the sidelines of the Iraqi Banking Sector Reform Conference held in Baghdad."

During the meeting, the two sides discussed enhancing cooperation in the financial and banking fields, including the bank's participation in financing various investment projects.

They also discussed mechanisms for securing credits and financial transfers and ensuring their delivery to those entitled to them in Europe and the United States, which will contribute to improving services provided to Iraqi traders and importers.

Al-Sudani stressed the importance of expanding partnerships between Iraqi banks and JP Morgan, noting the government's readiness to provide all forms of support to strengthen this relationship.

For its part, the JP Morgan delegation expressed its "willingness to increase cooperation with Iraq by expanding the number of correspondent accounts opened for Iraqi banks, and its willingness to finance a number of investment projects directly or through partner financial institutions." https://economy-news.net/content.php?id=54229

The Government Rules Out Any Impact On Iraq From The Global Drop In Oil Prices

economy | 08/04/2025   Mawazine News – Baghdad  The Prime Minister's financial advisor, Mazhar Mohammed Salih, confirmed on Tuesday that Iraq's federal budget for the years "2023-2025" has taken into account fluctuations in the oil market, and that the decline in global oil prices will not affect the country's internal situation.

Mazhar said in a statement to the Center for Strategic Studies and Trade Policy at the Ministry of Trade that "there are indications that the world is entering a cycle of declining oil prices that will not cause any repercussions on the country's internal situation."

He pointed out that "these indicators are due to the decline in the intensity of the Russian-Ukrainian conflict and Iran's openness to negotiations with the United States on the one hand, and the escalation of the US-led trade war by imposing customs duties on various markets despite the exclusion of oil and gas on the other hand, which has negatively impacted oil contracts and markets."

He pointed out that "what is happening on the global scene is a temporary crisis that will stabilize in the coming period within the logic of global economic balances."

He explained that "the clash between the climate of geopolitical détente and the escalating trade war could lead to a global economic shock that reduces demand for energy, especially with the 1% decline in global growth rates and the 0.5% decline in crude oil demand in global markets."

He indicated that the oil market is now threatened by a glut that could weaken prices in the coming decades with the return of OPEC+ production to normal. 

Saleh emphasized "the importance of reconciling the oil conflict between China and the United States, as the former is one of the largest importers of oil, and the latter is one of the largest producers, which makes oil price stability a vital issue for both parties."  https://www.mawazin.net/Details.aspx?jimare=260647

US Trade Delegation: Iraq Represents A Promising Investment Market

Political | 08:20 - 08/04/2025  Mawazine News – Baghdad  The head of the visiting US trade delegation to Iraq, Steve Lutes, affirmed on Tuesday that Iraq represents a promising market for investment, and that American companies are looking forward to cooperation opportunities in various sectors, with a focus on creating job opportunities for Iraqi youth and contributing to the development of infrastructure and vital services.

The media office of the Speaker of Parliament said in a statement received by Mawazine News: "The Speaker of the Iraqi Parliament, Mahmoud Al-Mashhadani, received at the Presidential Palace in Baghdad the Chargé d'Affaires of the US Embassy to Iraq, Daniel Rubinstein, accompanied by a large economic delegation from the American Chamber of Commerce, including representatives of 57 American companies, headed by Steve Lutes, and a number of company presidents and investors, within the framework of the American Chamber of Commerce Economic Conference held in Iraq."

The statement added that "at the beginning of the meeting, Al-Mashhadani welcomed the American delegation," stressing that "Iraq welcomes all initiatives that contribute to developing its economy and strengthening its international partnerships, especially with the United States of America, which represents one of the most important strategic partners in various fields."

The Speaker of Parliament stressed, according to the statement, "the critical importance of investment in Iraq, especially in vital and strategic sectors such as oil and electricity, which represent the backbone of the Iraqi economy."

He emphasized "the need to stimulate investment in the agricultural and industrial sectors, in addition to service sectors that are relevant to the lives of Iraqi citizens, such as the environment, education, and health."

Al-Mashhadani explained that "the Iraqi Parliament has enacted an investment law that provides a safe and stimulating legal environment for investment, protects the rights of investors, and encourages transparency and equal opportunities."

He pointed out that "Parliament, as the 'house of the people,' ensures a decent and safe life for citizens and works closely with the government through effective coordination mechanisms to support development projects and facilitate the entry of investments."

Al-Mashhadani stressed, according to the statement, that "the Iraqi Parliament strongly supports the signing of bilateral agreements with friendly countries, as this contributes to stimulating economic activity, attracting more foreign investment, and creating new job opportunities that contribute to reducing unemployment and enhancing economic stability."

The statement continued, "Daniel Rubinstein, Chargé d'Affaires at the US Embassy in Baghdad, expressed his happiness with this meeting, stressing his country's commitment to supporting Iraq in its path towards economic development and stability, and strengthening the partnership between the American and Iraqi private sectors."

For his part, the head of the US trade delegation, Steve Lutes, stressed that "Iraq represents a promising market for investment, and that American companies are looking forward to cooperation opportunities in various sectors, with a focus on creating job opportunities for Iraqi youth and contributing to the development of infrastructure and vital services."

The statement concluded that "the meeting comes within the framework of the Iraqi state's efforts to support economic openness and expand its investment relations with international partners, in a way that enhances sustainable development and provides a stable and attractive environment for investment in various sectors."   https://www.mawazin.net/Details.aspx?jimare=260650

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Tuesday Evening 4-8-25

Good Evening Dinar Recaps,

XRP NEWS: RIPPLE SET TO BUY HIDDEN ROAD FOR $1.25B IN STRATEGIC DEAL

▪️Ripple acquires Hidden Road for $1.25B, becoming the first crypto firm to own a global multi-asset prime broker.

▪️The acquisition will see Ripple's stablecoin RLUSD used as collateral and Hidden Road's post-trade on XRP Ledger.

▪️This major deal, amidst positive regulatory shifts, positions Ripple and Hidden Road to bridge traditional and decentralized finance.

Ripple has taken a major step forward by agreeing to acquire one of the fastest-growing prime brokerages in the world. This deal marks a big moment for the company and the crypto industry, as Ripple becomes the first crypto firm to fully own and operate a global, multi-asset prime brokerage platform.

Ripple announced it will acquire Hidden Road for $1.25 billion. This is one of the largest acquisitions in the digital asset space so far, signaling Ripple’s serious commitment to expanding its reach into traditional finance.

Ripple’s Stablecoin Steps Into the Spotlight

One of the most important aspects of this deal is the boost it gives to Ripple’s stablecoin, RLUSD. Hidden Road will now use RLUSD as collateral across its services, making it the first stablecoin to allow smooth cross-margining between crypto and traditional markets. This gives RLUSD a strong foothold in real-world financial applications.

As part of the agreement, Hidden Road will shift its post-trade operations to the XRP Ledger (XRPL). This move aims to lower costs and improve efficiency, highlighting XRPL’s value as a preferred option for institutional decentralized finance (DeFi).

Ripple also plans to improve its Ripple Payments platform by reducing costs, increasing liquidity, and offering secure, bank-grade digital asset custody to Hidden Road’s institutional clients.

Hidden Road’s Global Presence Set to Expand

Hidden Road already handles more than $3 trillion in trading volume each year for over 300 major institutions. With Ripple’s support, the firm is now set to grow even more and could soon become one of the largest non-bank prime brokers in the world. This partnership is a key step in connecting traditional finance with the decentralized world.

This is the second billion-dollar crypto deal of 2025, showing strong momentum for the digital asset industry. Under President Trump’s administration, the market is growing more optimistic about relaxed crypto regulations.

Earlier in March, major crypto exchange Kraken announced a $1.5 billion deal to acquire retail futures trading platform NinjaTrader. That move allows Kraken to expand into new asset classes and grow its user base.

Ripple Hints At Collab With Cardano

Adding more buzz, Ripple recently released a video about tokenization that included the Cardano logo. This led to speculation about a possible partnership between the two companies. 

The video focused on the potential of real-world asset (RWA) tokenization, which could reach $18.9 trillion by 2033. While the community is excited, neither Ripple nor Cardano has confirmed any collaboration yet.

Ripple CEO Brad Garlinghouse commented on the deal, saying the crypto industry is entering a new and promising phase. For the first time, the U.S. market is becoming truly open to digital assets, as the regulatory confusion from earlier leadership begins to clear up. At the same time, the crypto space is maturing and starting to meet the standards of traditional finance.

According to Garlinghouse, this moment presents a huge opportunity for growth and mainstream adoption.

@ Newshounds News™
Source:  Coinpedia

Video Link

~~~~~~~~~

BRICS: INDIA TO TURN ON US, JOIN CHINA IN TRADE WAR?

With the arrival of United States President Donald Trump’s Liberation Day economic policy, the world has been subject to an influx of tariffs. Now, despite its increased relationship with the country, BRICS nations may band together, with India potentially joining with China amid a brewing trade war with the US.

A Chinese Embassy spokesperson in India recently called for the nation to stand with its BRICS ally against the US Trump administration. Specifically, spokesperson Yu Jing called for the nations to join forces to “overcome the difficulties” of the recent tariff plan, according to a Reuters report.

BRICS Nations to Join Forces? China Calls for India to Stand With It in Opposition to Trump Tariffs

In early April, US President Donald Trump threw a wrench into global economics. Indeed, he announced the arrival of a baseline 10% tariff on nearly every trading partner that the country has. The increasingly aggressive economic policy was instituted to facilitate balanced trade for the nation, the administration assures.

However, its presence has forced a host of nations to respond. Among the most concerning answers have been from East Asia, which has vowed to fight the policy. Now, it is calling on its BRICS ally in India to stand with China as it is set to engage in a trade war with the US.

Chinese Embassy spokesperson Yu Jin recently said the two sides should come together amid the action. “China-India economic and trade relationships are based on complimentary and mutual benefit. Facing the US abuse of tariffs… the two latest developing countries should stand together to overcome difficulties.”

The only problem is that both nations took radically different approaches to their response to the Trump tariffs. Specifically, India has already ruled out reciprocal action. Indeed, it noted that it was seeking to secure a negotiated trade deal with the United States amid the policy.

Alternatively, Chian has not been as diplomatic. According to a recent report, the country has vowed to “fight to the end” in response to the looming trade war. The US president has threatened an additional 50% tariff on China, with the Eastern Asian power calling it “blackmail.”

@ Newshounds News™
Source:  Watcher Guru

~~~~~~~~~

XRP LAWSUIT NEWS: SEC OPPOSES EMERGENCY REQUEST FOR ‘DECISIVE EVIDENCE’ IN RIPPLE CASE

The long-running legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has officially come to an end, as confirmed by Ripple CEO Brad Garlinghouse just a few days ago.

While the announcement was met with celebrations among Ripple supporters and the broader crypto community, the XRP price failed to react as positively as expected. This muted response has led to growing anticipation and calls from XRP enthusiasts for an official statement or confirmation from the SEC.

Adding to the intrigue, an unusual filing recently appeared in the SEC vs. Ripple docket. A man named Justin W. Keener submitted an emergency request seeking to “present decisive evidence in favor of the defendants and in favor of liberty for the American people.”

The letter, however, left many questions unanswered. It doesn’t clearly specify what the so-called ‘decisive evidence’ entails or how it would benefit Ripple’s case. Keener hints that the evidence may relate to physical investment contracts he has been collecting, though details remain scarce.

In response, the SEC has filed an opposition to Keener’s request. According to Fox Business’ Eleanor Terrett, the SEC argues that the motion should be denied for several reasons.

First, they claim the District Court no longer has jurisdiction over the matter since the case has moved to the Second Circuit.

Second, they assert that Keener failed to file the proper motion to intervene in the case. Lastly, the SEC contends that the request is unnecessary because Ripple is fully capable of deciding for itself whether the evidence in question could be helpful.

The SEC is now asking Judge Analisa Torres to dismiss Keener’s request entirely, arguing that it holds no legal standing and that the case has already reached a conclusion.

@ Newshounds News™
Source:  Coinpedia

~~~~~~~~~

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Iraq Economic News and Points to Ponder Tuesday Afternoon 4-8-25

Government Advisor: Iraq Will Face Two Shocks As A Result Of Trump's Decisions.
 
 April 6, 18:53  nformation / Baghdad..  The Prime Minister's advisor for economic affairs, Mazhar Mohammed Salih, revealed on Sunday that  Iraq will face two economic shocks as a result of US President Donald Trump's decisions, noting that the US is a secondary trading partner for Iraq.
 
"Iraq is immune to the impact of tariffs on its exports to the US, as the latter is a secondary trading partner.  Iraqi oil exports to the US do not exceed $5 billion annually, while Iraq imports electronic goods and cars from the US at a similar value," Saleh said in a statement followed by Al-Maalouma Agency. 

 Saleh pointed out that "the new tariffs could lead to higher costs for global supply chains, causing  cross-border economic inflation, as well as a  decline in the oil asset cycle resulting from the protectionist trade policies pursued by the US through its control of the world's largest trading regions."

He explained that "Iraq will face two major shocks: the  first is a relative disruption in the prices of some materials within the supply chains, and the  second is a gradual decline in the oil asset cycle, which could lead to oil prices falling during the summer season to below their stable market values."  End 25    
  
https://almaalomah.me/news/95315/economy/مستشار-حكومي:-العراق-سيواجه-صدمتين-جراء-قرارات-ترامب 

The Turkish Wealth Fund And The Iraq Development Fund Sign A Memorandum Of Understanding For Joint Cooperation.
 
Tuesday, April 8, 2025 11:52 | Economic     Number of readings: 310  Baghdad / NINA / The Director General of the Turkish Wealth Fund, Arda Armut, and the Executive Director of the Iraq Development Fund, Mohammed Al-Najjar, signed a memorandum of understanding for joint strategic cooperation.
 
"Relations between Türkiye and Iraq have always held a special place as two countries with a long history, a shared geography, and strong fraternal ties," Ermut said at a press conference held today in Baghdad with the executive director of the Iraq Development Fund. He added that
 
this centuries-old friendship between the two countries has been strengthened over time by mutual trust and solidarity, transforming into a brotherhood that is not limited to neighborliness but rather united around common goals. He pointed out that
 
"this memorandum of understanding is a major step that will enhance cooperation between Türkiye and Iraq, not only at the regional level but also at the global level." He explained that the
 
Turkish Wealth Fund will cooperate extensively with the Iraq Development Fund in developing, financing, and implementing projects, noting that
 
the signed memorandum of understanding clearly embodies the determination to work together, particularly in specific strategic sectors. He said,
 
"We aim to cooperate in a wide range of areas, from renewable and green energy to information and communications technology, from infrastructure and superstructure investments to transportation and logistics services, from automobiles to agricultural technologies and food production, and from financial services to fintech applications."

He added, "In addition to investments, we will also cooperate closely on issues such as information exchange, technology transfer, and the joint use of resources.
 
This will ensure that our joint projects have a broader and more sustainable impact."
 
The head of the Turkish Wealth Fund expressed his belief that this memorandum will support comprehensive and sustainable development in both Türkiye and Iraq, and that
 
this cooperation will enhance regional economic stability and further strengthen the friendship between the two countries. He pointed out that the
 
Turkish Sovereign Wealth Fund places great importance on establishing long-term relationships based not only on economic relations, but also on trust and shared values, as embodied in the memorandum of understanding between the two sides.
 
For his part, Mohammed Al-Najjar said:
 
This is a very important step not only for the "Development Road" project, but
also for all other projects, partnerships, and relationships. Al-Najjar added,
 
"For the first time, we are signing long-term strategic projects between Iraq and Turkey that go beyond trade relations." He pointed out that
 
the signed memorandum of understanding also forms the basis for future joint projects. It's worth noting that
 
the "Development Road" project is a land and railway route extending from Iraq to Turkey and its ports.
 
It spans 1,200 kilometers within Iraq and aims to transport goods between Europe and the Gulf states.
 
On April 22 of last year, Turkey, Iraq, Qatar, and the UAE signed a quadripartite memorandum of understanding in Baghdad for cooperation on the "Development Road" project, under the auspices of Turkish President Recep Tayyip Erdoğan and Prime Minister Mohammed Shia al-Sudani.
 
Under the terms of the memorandum of understanding signed today in Baghdad, the two sides will work together under a structured cooperation mechanism to develop, finance, and implement projects. The first tangible results of this joint effort are expected to appear by next month.

The memorandum also includes joint commitments on innovation-focused investments in some key sectors of strategic importance.
 
These sectors include renewable energy and green energy technologies, information and communications technology, infrastructure and superstructure investments, transportation and logistics, automotive, agricultural technology and food production, and financial services and fintech.
 
Cooperation outside these investment areas includes the exchange of knowledge and expertise, technology transfer, and the allocation and mobilization of strategic resources.
 
This cooperation is expected to   support comprehensive and sustainable economic development in Türkiye and Iraq,  enhance regional economic stability and growth, and   deepen the long-standing strategic relations between the two countries. /End   https://ninanews.com/Website/News/Details?key=1196340 

Tomorrow... Iraqi And American Chambers Of Commerce Sign Contract To Regulate Private Sector Operations
 
Economy     Today, 21:59  Baghdad – INA  The head of the Federation of Iraqi Chambers of Commerce, Abdul Razzaq al-Zuhairi, announced today, Tuesday, the signing of an agreement with the American Chambers of Commerce to regulate the work of the private sector tomorrow, Wednesday. He explained that the government has included regulating the work of the private sector in its program.
 
In a statement to Al-Iraqiya News, followed by the Iraqi News Agency (INA), al-Zuhairi said,
 
"Tomorrow will witness the signing of an agreement with the American Chambers of Commerce to regulate the work of the private sector." He explained that "American companies are characterized by greater flexibility and capabilities, and they have extensive experience working with countries around the world.

In addition, the  Americans have everything they need to work in Iraq, especially in the field of industry."  He pointed out that "the banking base in Iraq has become large and global, and it is possible for us to work with it."

He explained that  "the agreement signed yesterday, in addition to the agreement to be signed tomorrow, includes regulating work in the Iraqi and American private sectors." 

He emphasized that the government has included in its program the regulation of the private sector and supports many areas, especially loans and the purchase of machinery and equipment," noting that "despite the difficult circumstances we faced, the results were positive on the ground."
 
Al-Zuhairi also referred to "addressing taxes, customs, the companies law, and the agency law," indicating that "there is a package that the government sent to Parliament for a vote, which is the most important package."  He explained that "the work of the private sector requires continuous updating, as there are new systems, laws, and new programs that change from time to time.
 
Land acquisition was previously under the agrarian reform law, as was the energy issue, and many other issues have been finalized."  He explained that
 
"what the government has done over the past period has been exceptional," expressing his hope that
 
"support for the private sector will continue in order to attract the largest number of international companies and employ the workforce."    https://www.ina.iq/231651--.html

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com/

Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 4-8-25

Good Afternoon Dinar Recaps,

COINBASE TO INTRODUCE 24/7 FUTURES TRADING FOR BITCOIN AND ETHEREUM ON MAY 9

▪️Coinbase Derivatives has announced the launch of 24/7 Bitcoin and Ethereum futures trading for US traders on May 9.

▪️The launch will allow US-based crypto derivatives investors to trade Bitcoin and Ethereum futures contracts round-the-clock.

▪️The contracts will be backed by Coinbase Financial Markets and cleared through Nodal Clear, ensuring clear institutional framework.

Coinbase greenlights 24/7 futures trading for Bitcoin and Ethereum Futures

Coinbase has announced the decision to launch 24-hour trading functionality for US-based traders on May 9 2025, just 24 hours after the US congress advanced a bill for crypto stablecoin regulations. However, until now, US traders have faced limited access due to fixed market hours and contract expiration policies.

By introducing 24/7 trading, Coinbase aims to eliminate inefficiencies that prevent traders from reacting to price movements in real time.

Perpetual futures to bridge US trading inefficiencies

In addition to continuous trading access, Coinbase is also developing a perpetual-style futures contract. Unlike standard futures, these contracts do not have expiry dates, allowing traders to maintain positions indefinitely.

The new perpetual-style contracts aim to provide US traders with more efficient hedging and strategy execution.

Without the constraints of fixed expirations, traders can implement long-term positions without disruptions. Furthermore, the introduction of a regulated perpetual futures market within the US could reduce reliance on offshore exchanges, which have historically offered more competitive alternatives.

Crypto Regulations remain a crucial factor. In recent years, Coinbase has worked closely with the Commodity Futures Trading Commission (CFTC) to ensure compliance while expanding derivatives offerings to altcoins.

The US Congress also advanced a bill for Crypto stablecoin regulations this week as the Trump administration continues to push for crypto reserves, to mitigate mounting national debt.

Key points Coinbase users must note:

▪️Coinbase Derivatives launches 24/7 Bitcoin and Ethereum futures for US traders on May 9.
▪️The exchange is developing perpetual-style futures to eliminate contract expirations, enhancing trading flexibility within US markets.
▪️Coinbase's move is expected to boost institutional crypto adoption while reducing the need for offshore derivatives platforms.

Currently, derivatives account for over 75% of total crypto trading volume globally, according to CCdata.

Investors anticipate that the Coinbase imminent furtures trading launch could drive more capital inflows towards BTC and ETH derivatives markets.

At press time Bitcoin futures open interest stands at $53 billion according to Coingecko data, up 1.6% within the last 24 hours.

Market participants anticipate that the upcoming futures launch and perpetual contract developments will drive greater institutional participation in US-based crypto derivatives.

Perpetual futures lack expiration dates, enabling traders to hold positions indefinitely, providing better flexibility for long-term strategies.

@ Newshounds News™
Source:  FX Street

~~~~~~~~~

XRP AND U.S. TREASURY: RIPPLE MIGHT GIFT XRP AS CODE TO THE GOVERNMENT

John Squire, a social media influencer with a growing presence in the digital asset space, posted a tweet raising the possibility that XRP could be incorporated into the U.S. government infrastructure through non-commercial means.

In his post, Squire stated, “XRP x U.S. Treasury. This ain’t hype, it’s infrastructure. Ripple might gift $XRP as code to the gov. They won’t buy it… they’ll use it. Are you watching or still sleeping?”

The Concept of a Gratis Vendor

Squire’s message was accompanied by a short video clip (link below) of an interview in which an unidentified speaker (Newshounds believes it is Commerse Secretary Howard Lutnick) described the process of becoming a “gratis vendor” for the U.S. government. The speaker explained that a gratis vendor is an approved entity that gives, rather than sells, a product or service to the federal government.

According to this explanation, when a vendor provides a product as a gift—especially if offered to an entity under Article II of the U.S. Constitution, which includes the executive branch—the product may be accepted without going through standard procurement procedures.

In the interview, the first speaker said, “What is a gratis vendor? A gratis vendor is an approved vendor for the United States of America that gives product to the government, doesn’t sell it. Therefore, I don’t have to go through the whole process of becoming a proper vendor because you’re giving it to us.”

The speaker went on to say that if the product is gifted to a government department, it bypasses much of the bureaucracy typically involved in federal acquisitions.

Implications for XRP and Ripple

Squire used this segment to suggest that Ripple Labs could utilize the gratis vendor model to offer XRP or XRP-related code to the U.S. government as a non-commercial resource.

The core implication in Squire’s statement is that Ripple would not sell XRP to the government but provide it or its infrastructure freely for governmental use.

The tweet did not contain any formal confirmation from Ripple or any government entity that such an arrangement is currently in place. However, it aligns with previous conversations in the digital asset space about the potential role of XRP in the modernization of governmental and financial systems.

Squire’s emphasis on the infrastructure aspect of the tweet indicates that he sees this potential move not as a marketing strategy or speculative hype but as a functional step toward broader adoption of distributed ledger technology within federal agencies.

Current Status and Outlook

If Ripple pursues this approach, it could theoretically allow government entities to evaluate or deploy XRP-powered systems without needing to engage in standard procurement or regulatory clearance typically required for financial acquisitions. While speculative, Squire’s commentary underscores the view held by some in the digital asset community that XRP’s real-world utility could extend into official public-sector functions.

@ Newshounds News™

Source: Times Tabloid

Video Clip:   X com

~~~~~~~~~

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The Financial Kill Switch Has Been Flipped – No More 'Buy the Dip' | E.B. Tucker

The Financial Kill Switch Has Been Flipped – No More 'Buy the Dip' | E.B. Tucker

Kitco News:  4-7-2025

U.S. markets have erased nearly $10 trillion. Gold briefly slipped below $3,000 an ounce. The VIX spiked above 60. And now, with President Trump threatening 50% tariffs on China, the global financial system is showing signs of strain.

 In this interview, E.B. Tucker, author of Why Gold? Why Now? and editor of The Tucker Letter, joins Jeremy Szafron, Anchor at Kitco News, to break down what he calls the triggering of the “Financial Kill Switch.”

Tucker explains why the era of “buy the dip” is over, how the system is being reprogrammed, and where capital should move before the next phase hits.

Key Topics:

– Why the “virtuous circle” of rising markets is dead

 – What the Fed’s silence means as recession rumors grow

– Gold’s role as the only asset without a kill switch

– Why Poland, China, and Germany are moving fast on gold

 – How the system is designed to keep most investors paralyzed

– What sectors could thrive under Trump’s new regime

– Why Tucker says “most people are fully exposed and don’t even know it”

00:00 Introduction: Financial Kill Switch

01:45 Market Volatility and Investment Strategies

 04:48 Historical Context and Market Predictions

11:49 Regime Change and Economic Policies

16:50 China's Role in the Economic Landscape

 18:07 Understanding Larry Fink's Influence

18:56 Introduction to Gold Investment

 19:12 Gold's Market Performance and Value

21:11 Strategic Asset Management with Gold

25:06 Market Trends and Stock Recommendations

27:49 The Future of the Economy and Defensive Stocks

31:43 Final Thoughts

https://www.youtube.com/watch?v=AzGOMLiCCco

Seeds of Wisdom RV and Economic Updates Tuesday Morning 4-8-25

Good Morning Dinar Recaps,

FIRST-EVER XRP ETF TO LAUNCH IN US TUESDAY; SPOT ETF STILL PENDING

▪️Teucrium Investment Advisors LLC is launching a leveraged XRP ETF on Tuesday, which is the first XRP-based ETF in the U.S. market.

▪️Multiple U.S. issuers have filed for spot XRP ETFs, which are still being reviewed by the SEC.

▪️One analyst said the likelihood of spot XRP ETFs being approved this year has grown, but demand for such funds remains uncertain.

Vermont-based asset manager Teucrium Investment Advisors LLC is launching the first XRP-based exchange-traded fund in the U.S. market on Tuesday.

The Teucrium 2x Long Daily XRP ETF (XXRP) is a leveraged fund based on the world's fourth-largest cryptocurrency by market capitalization, designed to provide investment results that correspond to twice the daily price performance of XRP.

"If you have a short-term high-conviction view on XRP prices, you may consider exploring the Teucrium 2x Long Daily XRP ETF," the company said on the website.

According to its description, XXRP starts trading on April 8 on NYSE Arca, with monthly distributions at a 1.85% management fee ratio.

On the Depository Trust and Clearing Corporation's (DTCC) official list of active and pre-launch U.S. ETFs, Teucrium's XXRP stands as the only XRP-related fund.

"A 2x XRP ETF is launching [tomorrow] in the U.S., the first-ever XRP ETF on the market," Bloomberg Senior ETF Analyst Eric Balchunas said in a post on X.

"Very odd (maybe a first) that a new asset’s first ETF is leveraged. Spot XRP still not approved, [although] our odds are pretty high," Balchunas added.

Demand for spot ETF uncertain

Multiple U.S. issuers, including Grayscale, WisdomTree and Bitwise, have filed applications with the U.S. Securities and Exchange Commission following waves of positive changes in crypto regulation led by President Donald Trump.

Several spot XRP ETF filings have been acknowledged by the SEC earlier this year, suggesting the review process is moving forward.

Meanwhile, Ripple Labs, the company that created and supports the growth of XRP, agreed to settle with the SEC last month, ending their years-long legal battle over whether XRP counts as a financial security. Ripple agreed to pay a fine of $50 million, reduced from the $125 million that was imposed last August.

"With the SEC dropping its appeal, a key legal hurdle is out of the way, making XRP ETF approval more likely," said Min Jung, research analyst at Presto Research. "If any new spot ETFs are approved after Bitcoin and Ethereum, XRP or Solana are strong contenders."

However, Jung noted that demand for spot XRP ETFs remains uncertain. "Ethereum ETFs have seen limited traction, and institutions still largely believe 'there is no second best,'" Jung said.

According to The Block's XRP price page, the cryptocurrency is trading at $1.91 as of 11:00 p.m. ET on Monday, up 0.64% in the past 24 hours.

@ Newshounds News™
Source:  The Block

~~~~~~~~~

HONG KONG SFC ISSUES NEW CRYPTO STAKING RULES: WHAT’S CHANGING?

▪️Hong Kong's SFC issues new rules for licensed crypto platforms and funds involved in staking.

▪️The guidelines aim to boost blockchain security, offer regulated yields, and enhance investor protection.

▪️These moves are part of Hong Kong's "ASPIRe" plan to become a leading regulated virtual asset hub.

Hong Kong is stepping up its game in the crypto space. In a move to tighten oversight and improve investor safety, the city’s Securities and Futures Commission (SFC) has rolled out new rules for virtual asset trading platforms and authorised funds involved in staking.

The move is part of the city’s efforts to tighten oversight and create a safer, more structured crypto market.

From clearer rules to new opportunities for investors, the SFC’s latest update could signal a turning point. Here’s what’s changing, and why it matters.

Regulated Crypto Staking: A Step Forward

The updated rules highlight key benefits of staking—such as improving blockchain security and helping investors earn yields—all within a regulated environment. These guidelines give licensed crypto platforms more flexibility to offer staking services, supporting the SFC’s “ASPIRe” strategy to grow Hong Kong’s virtual asset industry.

The SFC has set out clear requirements for platforms that offer staking. These include protecting staked assets, avoiding service disruptions, and being transparent about the risks involved. This marks a major step toward making staking safer for investors in Hong Kong.

Funds Can Stake – But Within Limits

The SFC also updated its circular for SFC-authorised virtual asset (VA) funds. These funds can now stake assets—but only through licensed platforms or approved institutions. To reduce risk, a cap has been set on how much they can stake. This helps manage liquidity and further protect investors.

SFC CEO Julia Leung said that expanding regulated crypto services is key to growing Hong Kong’s virtual asset market. At the same time, she stressed that protecting investors must remain the top priority through strong regulation and compliance.

A Global Crypto Hub in the Making

The SFC is actively working to position Hong Kong as a global digital asset hub. Its ASPIRe framework—short for Access, Safeguards, Products, Infrastructure, and Relationships—aims to make it easier for platforms to enter the market while strengthening investor protections.

In February 2025, the SFC announced plans to launch new licensing regimes for over-the-counter (OTC) virtual asset trading and custody services. These new rules are aimed at improving market efficiency and boosting investor confidence.

As the crypto world keeps moving fast, Hong Kong clearly wants the rules to keep pace – and stay one step ahead.

@ Newshounds News™
Source:  Coinpedia

~~~~~~~~~

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“Tidbits From TNT” Tuesday Morning 5-8-2025

TNT:

Tishwash:  The Council of Ministers holds two sessions today

The Council of Ministers announced today, Tuesday, that it will hold two regular sessions to compensate for last week's session.

Al-Sudani's media office said in a statement received by {Euphrates News}, "The Council of Ministers will hold two regular sessions today, Tuesday, the thirteenth and fourteenth of the current year, to make up for last week's session that was postponed due to the Eid al-Fitr holiday."  link

Tishwash:  The largest US trade delegation, representing 60 companies, arrives in Baghdad to enhance economic cooperation.

 The US Embassy in Baghdad announced on Monday the arrival of a 101-member US trade delegation representing 60 companies from various sectors. The visit aims to strengthen economic and investment relations between the United States and Iraq.

The embassy confirmed in a statement monitored by the Iraq Observer that this visit represents one of the largest US trade missions to Iraq and reflects American companies' interest in expanding opportunities for cooperation and partnerships with their Iraqi counterparts in various fields, most notably energy, infrastructure, technology, and healthcare.

She noted that the delegation's agenda includes meetings with government officials and private sector representatives to discuss investment opportunities and ways to support the business environment in Iraq, which will contribute to job creation and stimulate economic growth   link

.************

The largest US trade mission to Baghdad, comprising 101 individuals, arrives.

The US Embassy in Baghdad announced on Monday the arrival of the largest US trade mission to Iraq, comprising representatives from 60 companies across various sectors.

"The American Chamber of Commerce, headed by Steve Lutes, is leading a 101-member delegation from approximately 60 American companies in the energy, technology, and healthcare sectors to Iraq this week," the embassy said in a statement received by Shafaq News Agency.

She added, "This is the first US Department of Commerce-approved trade mission to Iraq and the largest US trade mission to Iraq in the Chamber's history."

She confirmed, "During the visit, which will extend from April 7 to 9, the delegation will meet with high-level Iraqi officials, engage with Iraqi companies, and sign a number of agreements."

"The U.S. Chamber of Commerce provides a platform for creating and implementing new ideas aimed at establishing partnerships and trade policies that influence the thinking of governments and business leaders in both countries. For more than a decade, the Chamber has regularly visited Iraq and hosted Iraqi government delegations in the United States," she explained. "During this visit, the U.S. Chamber of Commerce will sign a memorandum of understanding with the Federation of Iraqi Chambers of Commerce to strengthen relations between the American and Iraqi private sectors."

The embassy also announced that "the American Chamber of Commerce and the Federation of Iraqi Chambers of Commerce signed a pivotal memorandum of understanding to strengthen relations between the American and Iraqi private sectors. This partnership will enhance long-term economic cooperation between the two parties   link

Mot: Go Early - to Beat the Crowds!!!! 

Mot:  . TP Prank