Iraq Economic News and Points to Ponder Thursday Afternoon 3-26-25

Mr. Al-Hakim Assures The US Chargé d'Affaires: Iraq Is Capable Of Confronting All Security Challenges.

Time: 2025/03/27 Reading: 660 times   {Political: Al Furat News} The head of the National State Forces Alliance, Mr. Ammar al-Hakim, discussed with the Chargé d'Affaires of the United States Embassy in Baghdad, Daniel Rubinstein, developments in the local and regional situation and affairs in the region.

During the meeting, according to a statement from his office, a copy of which was received by {Euphrates News}, Mr. Al-Hakim expressed "his concern over the renewed aggression of the Israeli entity on Gaza, and we renewed our call to strengthen security and peace through dialogue and the prevalence of logic, while avoiding wars and their dangerous repercussions."

He stressed that "Iraq has pioneering experience in combating terrorism and is capable of confronting all security challenges. We also emphasized the importance of strengthening bilateral relations between the two countries in a way that serves the interests of both parties and preserves Iraq's sovereignty and independent decision-making."

Mr. Al-Hakim also pointed to the promising opportunities Iraq possesses in all fields, and we called on American companies to invest in these opportunities to enhance the partnership between the two countries, support the Iraqi economy, and contribute to the exchange of expertise. We affirmed Iraq's keenness to develop its relations with the international community and its openness to it.  LINK

 Al-Sudani's Advisor: Iraq's Revenues Are Stable Despite Global Challenges

Money and Business  Economy News – Baghdad  The Prime Minister's Advisor for Financial Affairs, Mazhar Mohammed Salih, stated that global geopolitical fluctuations represent a complex factor that directly impacts energy markets, indicating that Iraq's public finances are hedged against price fluctuations in the oil market.

In an interview with the official newspaper, followed by Al-Eqtisad News, Saleh indicated that even the end of the Russian-Ukrainian war will not necessarily mean market stability. Rather, it will lead to what are called "peace economies," which focus on rebuilding damaged economies and increasing investment to compensate for lost opportunities.

He explained that "this phase will not lead to an economic recession, but rather to a recovery in global growth rates, which in turn will lead to increased demand for oil." He explained that "a 1% increase in global growth leads to a 0.5% increase in oil demand, which supports the stability of oil prices and reduces the downward trajectory of the oil asset cycle," expecting prices to return to "rise under the pressure of increased demand for energy."

Saleh added, "Even the United States, the world's leading crude oil producer, faces significant losses if oil prices fall below $70 per barrel, due to the high cost of shale oil production. As for Russia, the world's second-largest oil producer, it is not in its interest to sell its oil at low prices or at discounts that exceed international agreements within OPEC, especially if the Ukrainian war ends." Regarding Iraq's financial situation,

Saleh affirmed that "public finances are resilient to oil market fluctuations," noting that "the first quarter of 2025 is about to end without any financial disruptions, as fiscal policy continues to operate with high discipline to ensure the implementation of budget objectives, including securing salaries, pensions, and social welfare, in addition to continuing to implement service projects in accordance with the government program."

He pointed out that "the three-year federal budget law, issued pursuant to Law No. 13 of 2023, priced oil at approximately $70 per barrel, ensuring stable public revenues despite global economic challenges."   https://economy-news.net/content.php?id=53847

Oil Prices Stabilize After A Huge Drop In US Inventories

Energy   Economy News – Baghdad   Oil prices held steady on Thursday after U.S. crude inventories recorded their largest decline since December 2024, suggesting a potential supply shortage in the near term.

Brent crude was trading near $74 a barrel, after closing up 1.1% on Wednesday, while West Texas Intermediate fell below $70 a barrel.

US crude inventories fell by 3.34 million barrels last week, reaching their lowest level in a month, and gasoline inventories also declined, according to government data.

Oil prices have been rising since early March, as sanctions and tariffs imposed by US President Donald Trump have increased the likelihood of supply disruptions from producers such as Iran and Venezuela.

However, major oil trading companies, including Trafigura Group and Gunvor, remain pessimistic about crude oil prices for the remainder of the year, given the high supply, particularly from outside the OPEC+ alliance.

The alliance is also scheduled to begin restoring some of its shutdown production next month, the first in a series of planned increases.  This has prompted traders to buy bullish oil options to hedge against higher prices.   https://economy-news.net/content.php?id=53844

Iraq's Oil Exports Exceed 95 Million Barrels In February

Energy   Economy News – Baghdad  The Ministry of Oil announced today, Thursday, the total oil exports achieved for the month of February, which exceeded 95 million barrels of crude oil, according to statistics issued by the State Oil Marketing Organization (SOMO).

The Ministry stated in a statement received by “Al-Eqtisad News” that the total exports of crude oil amounted to (95) million, (148) thousand, and (167) barrels.

The statistics also indicated that the total quantities of crude oil exported for the month of February from the oil fields in central and southern Iraq amounted to (94) million and (375) thousand and (12) barrels.

The Ministry said, based on SOMO, that exports to Jordan amounted to (419) thousand and (846) barrels, and the quantities exported from the Qayyarah field amounted to (353) thousand and (309) barrels.

Thus, Iraq's oil exports declined by approximately 8 million barrels of crude oil in February, compared to January, when exports exceeded 103 million barrels of oil, according to SOMO statistics https://economy-news.net/content.php?id=53853

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

Seeds of Wisdom RV and Economic Updates Thursday Evening 3-27-25

Good Evening Dinar Recaps,

SENATE BANKING COMMITTEE DELAYS VOTE ON SEC CHAIR NOMINEE

The Senate Banking Committee has reportedly delayed its vote on the nomination of Paul Atkins as the next chair of the U.S. Securities and Exchange Commission

Journalist and host of Crypto in America podcast Eleanor Terrett, shared this development via X. The former FOX Business reporter cited a Senate aide as the source of the news.  According to the aide, the committee will “not vote today on Atkins or the other nominees, as is typical practice.”

Instead, nominees will be required to submit written responses to committee questions ahead of a markup vote. A date for that vote has not yet been set.

Atkins’ nomination and the SEC’s shifting stance

Atkins, President Donald Trump’s pick to replace former SEC chair Gary Gensler, faced the Senate’s banking committee on March 27.

Lawmakers also held a confirmation hearing for Jonathan Gould, nominated to lead the Office of the Comptroller of the Currency.

Gensler’s time at the helm of the top securities watchdog in the US is mostly seen as negative and anti-crypto.

His regulation by enforcement action approach that saw SEC sue multiple crypto companies and launched investigations against several is one of the things the commission is looking to drop completely. Indeed, several cryptocurrencies rallied in the wake of the ex-SEC chair’s resignation.

Despite Gensler’s exit, regulation remains a top topic in crypto. Recent moves to withdraw lawsuits and end investigations suggests this is the case.

Facing questions from the banking committee, Atkins says the SEC under his leadership will be keen on regulatory clarity.

“A top priority of my chairmanship will be to work with my fellow commissioners and Congress to provide a firm regulatory foundation for digital assets through a rational, coherent, and principled approach,” he noted in a prepared testimony.

While the report is that the Senate is delaying a vote on his nomination, the anticipation around the crypto ecosystem is that his confirmation is just a matter of ‘when, not if’.

Until then, interim chair Mark Uyeda continues to point the SEC in what industry players say is the right direction

@ Newshounds News™
Source:  Crypto News

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JPMORGAN SEES YIELD-BEARING STABLECOINS GROWING FROM 6% TO 50% OF MARKET SHARE

▪️JPMorgan analysts forecast that yield-bearing stablecoins could rise from the current 6% to as much as 50% of the stablecoin market cap in the future.

▪️Yield-bearing stablecoins are attracting investors similarly to traditional money market funds, particularly in today’s high-interest-rate environment, the analysts said.

Yield-bearing stablecoins, including tokenized Treasurys, which offer interest returns similar to traditional financial products, could experience massive growth ahead, according to JPMorgan analysts.

Yield-bearing stablecoins currently make up just 6% of the total stablecoin market cap but could expand significantly, potentially capturing up to 50% of the market unless regulatory changes intervene, JPMorgan analysts led by managing director Nikolaos Panigirtzoglou wrote in a report released Wednesday.

The top five yield-bearing stablecoins — Ethena's USDe, Sky Dollar's USDS, BlackRock's BUIDL, Usual Protocol's USD0 and Ondo Finance's USDY— have seen rapid growth since the U.S. election in November, rising from around $4 billion to over $13 billion in combined market cap, Panigirtzoglou told The Block.

According to analysts, this growth is expected to continue. They added that the U.S. Securities and Exchange Commission's recent approval of Figure Markets' application for a yield-bearing stablecoin, YLDS, which is registered as a security, provides further momentum to this segment.

Traditional stablecoins, such as Tether's USDT and Circle's USDC, do not share reserve yields with their users because doing so would classify these assets as securities, according to the analysts. 

Such a classification would also impose additional compliance requirements, hindering their current seamless use as collateral within the crypto ecosystem, they said.

Why yield-bearing stablecoins are on the rise

The JPMorgan analysts identified several factors driving the rapid growth of yield-bearing stablecoins.

First, investors prefer these assets because they offer interest without requiring holders to engage in risky trading or lending activities or give up custody of their assets.

Second, major crypto trading platforms such as Deribit and FalconX now accept tokenized Treasurys as collateral, enabling traders to earn yield on posted collateral.

Additionally, crypto investors are increasingly turning to tokenized Treasurys in decentralized finance (DeFi) to obtain higher yields, as typical DeFi yields have significantly decreased from their peak levels of 2022. Projects like Frax Finance are also adopting tokenized Treasurys as underlying assets, further fueling this growth.

Despite this positive outlook, the JPMorgan analysts noted barriers. Yield-bearing stablecoins are classified as securities, subjecting them to regulatory restrictions that limit their adoption, especially among retail investors. Moreover, traditional non-yield-bearing stablecoins continue to hold a notable liquidity advantage.

With a combined market cap of around $220 billion across multiple blockchains and centralized exchanges, traditional stablecoins offer efficient, fast and low-cost transactions, even at large volumes. In contrast, yield-bearing stablecoins are newer, smaller and comparatively less liquid.

However, "This liquidity disadvantage could potentially be lessened over time as yield-bearing stablecoins gain further traction in the future in crypto derivative trading as source of collateral, in DAO treasuries, liquidity pools, and idle cash with crypto venture funds," according to the analysts.

As a result, over time, yield-bearing stablecoins could attract much of the idle cash currently sitting in traditional stablecoins, the analysts said. While the exact amount of this idle cash is difficult to estimate, it's unlikely to represent the majority of the stablecoin market, according to the analysts.

@ Newshounds News™
Source:  The Block

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Evening News with MarkZ and Dr. Scott Young. 03/27/2025

Evening News with MarkZ and Dr. Scott Young. 03/27/2025

MarkZ  Update- Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. Be sure to consult a professional for any financial decisions

THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY

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THANK YOU ALL FOR JOINING. HAVE A BLESSED NIGHT! SEE YOU ALL IN THE MORNING FOR COFFEE @ 10:00 AM EST ~ UNLESS BREAKING NEWS HAPPENS!

FROM NOW ON NO MORE NIGHTLY PODCASTS ON MONDAYS AND FRIDAYS

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News, Rumors and Opinions Thursday PM 3-27-2025

KTFA:

Clare:  Iraq establishes private company to manage development road project

3/27/2025

The Higher Committee for the Development Road Project, headed by Iraqi Prime Minister Mohammed Shia al-Sudani, announced on Thursday the establishment of a private company to manage the project.

His media office said in a statement received by Shafaq News Agency that Al-Sudani chaired today the regular meeting of the Supreme Committee for Monitoring the Implementation of the Development Road Project. This is the second meeting held within a week.

The statement added that the meeting reviewed the progress of the project's various phases and discussed the directives issued during the previous meeting. Approval was given for the Iraq Development Fund to establish a private company to manage the development road project, and for the Higher Committee to proceed with establishing the project's special authority.

The meeting also approved the interim governance instructions regulating the relationship between Iraq and Turkey regarding the project. In this regard, the Prime Minister directed Oliver Wyman to hold a joint meeting with the Iraqi and Turkish sides to finalize these instructions.

The statement indicated that the meeting was attended by the Minister of Transport, the Director of the Prime Minister's Office, the General Coordinator for Provincial Affairs, the Chairman of the Iraq Development Fund, the Deputy Chairman of the Parliamentary Transport Committee, a number of advisors to the Prime Minister, the Director General of Ports, and representatives from Oliver Wyman, the company providing consulting services for the project.   LINK

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Clare:  Iraqi Ports Authority discusses operating mechanisms for the Grand Faw Port with the American company KBR.

3/26/2025

The General Company for Iraqi Ports announced on Wednesday that a meeting was held at the Ministry of Transport headquarters with representatives from the American company KBR, in the presence of representatives from the Ministry of Planning, to discuss the mechanisms for the actual transition to operating the Grand Faw Port after the completion of the project's basic work.

Farhan Al-Fartousi, Director General of Iraqi Ports, told Shafaq News Agency, "The Grand Faw Port is going through a pivotal phase, as many preliminary works have been completed. This meeting is a strategic step to coordinate efforts between government agencies and international companies, ensuring the success of future operations."

Al-Fartousi pointed out that "the meeting comes within the framework of preparing for the transition to the actual operational phase of the port, relying on available international expertise and in line with the Prime Minister's government program," stressing that "qualifying Iraqi cadres to manage and operate the port is a key priority in the programs for contracting with international companies."

The cost of the Faw Port is approximately 4.6 billion euros, with an estimated capacity of 99 million tons annually, making it one of the largest ports overlooking the Gulf and the tenth largest in the world. The foundation stone for this project was laid on April 5, 2010.

The Grand Faw Port issue and the delays in its completion have sparked widespread controversy in Iraq. MPs have accused successive governments of striking deals with neighboring countries that squandered the port's construction in favor of those countries' ports. The project has also experienced some delays following the mysterious suicide of the technical director of the South Korean company Daewoo, which was implementing the Grand Faw Port project.   LINK

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Walkingstick  These oil revenue cards are for the HCL...These cards are going to be part of the all electronic and digitalization of Iraqi banks.  These cards are also going to play a very important part in the rural areas of Iraq, in the desert regions where nomads live.

Frank26   [Iraq boots-on-the-ground report]  FIREFLY: They're talking about oil revenues to the citizens.  They have not talked to us about our oil in quite a while.  In fact, what they're talking about has not been brought to us since 2018 when they said we have a special card just for this.  Now all of a sudden we are now hearing this again today.   FRANK:  Those cards are basically HCL cards.  If they're talking to them about it?  There's so many things pointing in one direction.  FIREFlY:  This is obviously the HCL coming to us because of a new exchange rate soon.  FRANK:  IMO this is the preparation for the HCL that is about to be given to you because of that new exchange rate

Huge PSLV Silver Short Squeeze Coming? | Andy Schectman

Liberty and Finance:  3-27-2025

In this interview, Andy Schectman discusses the recent surge in shorting activity surrounding PSLV, the physical silver trust, which saw a massive drop in share price due to aggressive short selling.

He explains that the shorting of PSLV is being used as a strategy to suppress silver prices, as it reduces the need for the trust to purchase more silver to back the shares.

Andy also highlights the risks involved in such market manipulation and how it reflects the broader struggle to control the value of silver amidst increasing demand.

 He emphasizes that investors should be cautious, as these tactics could lead to volatile market conditions. Finally, Andy shares insights into the broader trends of precious metal investments and how institutional interest in silver and gold continues to grow, despite the shorting of PSLV.

 INTERVIEW TIMELINE:

0:00 Intro

3:00 Gold scams

18:45 Storage

23:56 Market update

https://www.youtube.com/watch?v=kw83S9e19rc

Seeds of Wisdom RV and Economic Updates Thursday Afternoon 3-27-25

Good Afternoon Dinar Recaps,

U.S. CONGRESS ADVANCES STABLECOIN REGULATION WITH THE INTRODUCTION OF THE STABLE ACT

Lawmakers introduce a new framework that redefines stablecoin oversight by blending traditional financial controls with digital asset practices for clearer, accountable operations in a fast-evolving market.

▪️Establishes structured guidelines for digital token issuers that stress transparency and regular record-keeping.

▪️Emphasizes clear operational rules to promote accountability without stifling innovation.

▪️Paves the way for coordinated oversight, integrating crypto with conventional finance.

On March 26, 2025, U.S. lawmakers introduced the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act to advance stablecoin regulation and improve transparency for dollar-backed digital tokens.

The proposal outlines how dollar-backed stablecoins should be issued, with requirements focused on transparency and consumer protection.

Congress Pushes Stablecoin Regulation Forward with the STABLE Act

Introduced by Representatives Bryan Steil and French Hill, the STABLE Act forms part of a broader push to build a consistent regulatory structure for cryptocurrency markets.

Stablecoin issuers would need to follow financial rules and maintain clear records under the STABLE Act.

Representative Hill said the bill helps clarify financial rules and protects both consumers and the financial system.

After gaining bipartisan Senate support, the bill passed through the Banking Committee and is now under review on the Senate floor.

Representative Tom Emmer, who has long supported crypto legislation, noted that although the House and Senate bills differ in some areas, lawmakers expect to reconcile those versions as the process moves ahead.

While the Senate continues deliberations, the House is refining its version of the bill.

To move the legislation forward, the House Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence held a hearing titled “A Golden Age of Digital Assets: Charting a Path Forward.”

This discussion focused on strengthening the bill’s foundation before a full House vote.

During the White House crypto summit on March 7, President Donald Trump encouraged lawmakers to pass stablecoin legislation before the August 2025 recess.

Still, that timeline may prove difficult due to divisions between crypto industry leaders and banks over key aspects of the bill’s language.

In parallel, Emmer has reintroduced the Securities Clarity Act, a separate measure that would define how crypto assets are treated under existing securities law.

Co-sponsored by Representative Darren Soto, the bill reflects ongoing efforts to give the digital asset industry regulatory certainty.

STABLE Act and GENIUS Act Propose Different Paths for Stablecoin Regulation

The U.S. Senate Banking Committee recently advanced another stablecoin bill: the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act.

Unlike the STABLE Act, which outlines broad federal rules for stablecoin issuers, the GENIUS Act centers on defining payment stablecoins as digital tokens pegged to a fixed value and used for transactions.

This approach would divide oversight between federal and state regulators, depending on the size and scope of the issuer.

Under the GENIUS Act, issuers managing more than $10 billion in stablecoins would fall under federal regulation. Smaller players could remain under state oversight unless they apply for a federal waiver.

The growing debate over stablecoin regulation highlights the need for consistent rules across federal and state agencies.

Gold-Backed Tokens Add Complexity to Stablecoin Regulation

As stablecoin regulation evolves, some industry figures suggest gold-backed stablecoins could see broader global use than those tied to the U.S. dollar.

Bitcoin advocate Max Keiser has argued that countries with strained ties to the U.S. often view gold as more stable than the dollar.

A recent example is Tether’s Alloy (aUSD₮), launched in June 2024. This stablecoin is backed by Tether Gold (XAU₮) instead of fiat reserves.

Some believe gold-backed stablecoins may gain traction in countries with less trust in the U.S. dollar.

From Experiment to Infrastructure

What began as a workaround to traditional banking is now being treated as financial infrastructure.

The STABLE Act’s requirements signal that the era of informal issuance is closing, while the GENIUS Act offers a looser framework for limited use.

Either path will impose real consequences on stablecoin providers.

For users and institutions, it’s time to start treating stablecoins not as novelties, but as instruments subject to the same scrutiny as any other financial product.

@ Newshounds News™
Source:  CryptoNews

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TRUMP HITS FOREIGN CARS WITH 25% TARIFF – INDUSTRY BRACES FOR IMPACT

▪️President Trump announced a 25% tariff on non-U.S. manufactured cars, aiming to boost domestic production.

▪️The tariffs, effective April 3rd, exclude U.S.-made cars and USMCA-compliant parts, but face international criticism and market volatility concerns.

▪️This move is part of Trump's broader trade strategy, including "reciprocal" taxes, and is expected to impact car prices.

According to a latest Bloomberg report, President Donald Trump has announced a 25% tariff on all cars made outside the United States, a move he says will strengthen American manufacturing and bring jobs back home. The new policy, set to take effect on April 3, is one of the most aggressive trade measures targeting the auto industry in years.

Cars built in the U.S. will be exempt, along with certain auto parts that comply with the U.S.-Mexico-Canada Agreement (USMCA). But for foreign automakers and consumers, this decision could mean higher prices, shifting supply chains, and major industry shake-ups.

“What we’re going to be doing is a 25 per cent tariff on all cars that are not made in the United States. This will be permanent,” Trump said from the Oval Office. “We start off with a 2.5 per cent base, which is what we’re at, and go to 25 per cent.”

So, will this plan jumpstart American manufacturing, or will it drive up costs and disrupt the market? Here’s a closer look at what the new tariff means for businesses, consumers, and the economy.

A Jump in Import Tariffs

Currently, imported cars face a 2.5% tariff. Under the new rule, that figure will jump to 25%. The tariff will apply to fully assembled vehicles as well as key components like engines, transmissions, powertrain parts, and electrical systems. However, parts produced in the U.S. will remain exempt, even if the final vehicle is assembled elsewhere. The list of affected items could expand over time.

Economic Strategy or Market Disruption?

Trump believes the tariff will reduce reliance on foreign supply chains, particularly those involving Canada and Mexico, and will help lower U.S. debt. He called the current trade system “ridiculous” and argued that this new approach will simplify trade while benefiting American workers.

The decision has raised concerns about potential market instability. Trump also clarified that Tesla CEO Elon Musk was not involved in shaping the policy, despite earlier speculation that such tariffs could be neutral or even beneficial for Tesla.

Criticism from Global Leaders

The announcement has drawn criticism from international leaders. European Commission President Ursula von der Leyen called the move “bad for businesses, worse for consumers.” Canada’s Prime Minister Mark Carney also voiced strong opposition, vowing to protect Canadian workers and industries.

The stock market reacted quickly, with shares of U.S.-listed automakers dropping amid concerns that the tariffs could disrupt the global auto industry. Experts warn that higher costs for imported parts could lead to more expensive cars, fewer options for consumers, and job losses in manufacturing.

Could This Policy Drive Up Inflation?

Economists warn that the new tariffs could contribute to inflation. Trump was re-elected last year partly because voters believed he could bring down prices. If car prices rise significantly, it could create political challenges for his administration.

This tariff is part of Trump’s broader trade agenda. On April 2, a separate “reciprocal tax” policy will take effect, matching the tariffs and sales taxes that other countries impose on American goods. The administration says this is part of a long-term strategy to rebalance global trade in favor of the United States.

@ Newshounds News™
Source:  Coinpedia

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This Looks Like A Divorce. And It’s Going To Be A Messy One

This Looks Like A Divorce. And It’s Going To Be A Messy One

Notes From the Field By James Hickman (Simon Black)  March 25, 2025

“I think we are making a mistake,” said the Vice President, in what the media is criticizing as an unclassified text message discussion.

The administration was discussing if, when, and how to strike against the Houthi rebel group in Yemen, which has been menacing commercial ships in the Red Sea since late 2023.

The media is focusing on the fact that someone had inadvertently (or perhaps intentionally) added a reporter from the Atlantic to the chat group. But once again the media has missed the point.

What matters far more is how JD Vance crystalized the current situation: that just “3 percent of US trade runs through the Suez [Canal, where the Houthis strike]. 40 percent of European trade does...”

In other words, this Houthi situation is far more important to Europe than to the US... so Europe should take the lead, step up, and do something about it rather than wait for America to once again ride to the rescue.

“I just hate bailing Europe out again,” Vance says, with other administration officials in agreement about “European free-loading”.

This is a telling exchange which reflects the mood right now. The Trump team believes that the US unfairly has to shoulder the security burden for Europe. And, frankly, their position is totally valid.

But to play devil’s advocate, the Europeans would say, “Well, that’s the price you pay for the exorbitant privilege of having the world’s reserve currency.”

And that’s not a crazy assertion either. Just ask Liz Truss.

If you don’t remember Ms. Truss, she was British Prime Minister for all of 51 days; back in September 2022, her government announced its ‘mini-budget’ which proposed significant tax cuts combined with government subsidies for household energy expenses.

The result would have been higher budget deficits, which the government intended to finance by borrowing more money.

Unfortunately for Truss, her proposals were poorly received, and investors dumped their British government bonds.

Yields collapsed. The pound went into free-fall. And Ms. Truss-- the Prime Minister of one of the largest and most powerful economies in the world-- had to resign in disgrace… all because the bond market didn’t like her economic plan.

That’s what happens when you DON’T have the global reserve currency.

America, on the other hand, does have this special benefit; every foreign government and central bank on the planet has to own US dollars… which is why the US government gets away with the fiscal equivalent of murder.

America’s government runs multi-trillion-dollar deficits year after year, yet does nothing about it.

They borrowed trillions of dollars to pay people to stay home and NOT go to work. They have constant threats of government shutdowns and debt ceiling crises. They spend more money each year paying interest than they spend on national defense. And the extreme level of waste is simply appalling.

No other country in the world would get away with all of these shenanigans.

So, if we’re intellectually honest, Europe has a point. The rest of the world willingly ignores the US government’s dismal financial condition… and in exchange they expect Uncle Sam to take care of the Houthis.

In a way, both sides are right. Both sides have valid points. Yet each side also believes the other to be completely wrong and irrational. There doesn’t seem to be any room for compromise or mutual understanding.

In divorce court this is known as “irreconcilable differences”. And it’s getting messy.

The US and Europe have spent decades as the world’s ultimate ‘power couple’; they enjoyed a massive trade relationship, an iron-clad military alliance, top secret intelligence-sharing, industrial cooperation… you name it. Europe and the US have been in bed together for quite some time.

But this relationship is clearly fractured, and it’s declining at a rate not seen since World War II.

The US may still be hoping that Europe will eventually come around. And this seems to be the strategy: threaten them with tariffs until Europe’s weak leadership buckles and bends the knee.

But that doesn’t seem to be happening. Europe is finding its legs. And its backbone.

Friedrich Merz, for example, the presumptive German Chancellor, recently scored a major victory by amending his country’s Constitutional requirement to maintain a balanced budget.

He had to sell his soul and betray voters to get it done. But Merz stated (after the election, of course) that he was willing to do “whatever it takes” to Make Europe Great Again and fend off the threat of Russian invasion.

He’s now planning close to $1 trillion in government spending, almost all of it financed by more debt. It will include a massive defense buildup, plus a bonanza of the Green party’s climate initiatives.

For his part, French President Emmanuel Macron has also been planning “a new paradigm”, as he calls it.

In a recent speech, Macron spelled out Europe’s obvious problems. The border has been overrun, and their security is in shambles.

 “We have delegated everything that is strategic,” Macron complained. “our energy to Russia. Our security . . . to the United States. And equally critical perspectives [like rare earth minerals] to China.”

Even Europe’s food supplies are being imported from foreign nations, Macron laments. “Who would be foolish enough to outsource their food?”

“We must take them back. This is what strategic autonomy is all about,” he says. Bottom line, Europe is too dependent on foreign nations, including and especially the US.

He goes on to challenge Europe to fight against US “competition” and become a world leader in AI, quantum computing, space, biotechnology, and nuclear energy within five years… and to get there by deregulating and investing heavily in innovation.

Where will they get this investment capital? Well, he mused that “every year, our savings amounting to around 300 billion euros a year go to finance the Americans. . . This is absurd.” Macron believes that money should remain in Europe to fund R&D.

None of this sounds like Europe willing to accede to US demands… nor a Europe that will submit to the “Mar-a-Lago Accords” (which would, among other things, force Europe to hold 100-year US government bonds).

It looks very clearly like Europe is preparing to stand on its own… which, again, looks a lot like a divorce. And potentially quite a messy one. It’s also unfolding very rapidly, right in front of us.

Bottom line, if even Europe thinks it’s “absurd” to buy hundreds of billions of euros each year worth of US government bonds, I can only imagine what China must think.

And this leads me to believe that a new global financial system could be here sooner than anyone realizes.

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

PS   We’ve been predicting for years that a new global financial system will end up displacing the US dollar. And the implications are enormous. Gold, for starters, should continue to do extremely well-- despite the fact that it is at an all-time high. So should gold stocks. Many foreign stock markets (which are significantly undervalued relative to the US) should also perform very well.

https://www.schiffsovereign.com/trends/this-looks-like-a-divorce-and-its-going-to-be-a-messy-one-152372/?inf_contact_key=9224eb4317aea966d09652ffd63d614e7c981c2f99e1cf7586cea13df5aa4037

U.S. Understands Gold’s Value – What This Strategic Move Means for Gold Price | Joseph Cavatoni

U.S. Understands Gold’s Value – What This Strategic Move Means for Gold Price | Joseph Cavatoni

Kitco News:  3-27-2025

Gold's breakout past $3,000/oz isn't just a headline — it's a signal. In this interview, Joseph Cavatoni, Senior Market Strategist at the World Gold Council, joins Jeremy Szafron on Kitco News to explain what's really driving the gold market in 2025.

Cavatoni breaks down the surge in global gold ETF inflows, the return of Western investors, and the strategic implications of President Trump invoking emergency powers to boost domestic mineral production — including gold.

 He also addresses whether gold could get caught in the upcoming April 2 tariff net and what U.S. strategy signals for the future of gold pricing.

Key Topics:

Why gold has surged 15% YTD and broken $3,000

April 2 tariff threat: Is gold safe?

U.S. gold strategy and Trump's defense order

Western investor flows and ETF resurgence

Why China and India retail demand is slowing

$3,100 as the next resistance level?

Can gold reach $4,000?

Don't miss Cavatoni's expert breakdown of where gold is headed next, what's driving global demand, and what it all means for investors.

00:00 Introduction

02:20 Geopolitical Risks and Gold

04:08 Tariffs and Their Impact on Gold

06:44 US Administration's Moves on Critical Minerals

08:33 Global Gold Flows and ETF Trends

 15:27 Future Gold Price Predictions

16:57 Central Bank Gold Purchases

18:35 Retail Demand and Market Dynamics

 21:52 Conclusion

https://www.youtube.com/watch?v=zvXh7io7FSE

Thursday Coffee with MarkZ. 03/27/2025

Thursday Coffee with MarkZ. 03/27/2025

MarkZ  Update- Some highlights by PDK-Not verbatim

MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context.  Be sure to consult a professional for any financial decisions

Member: Happy Thursday and good morning Markz and everyone

Member: What state is everyone in? I'll start:  I’m in the state of confusion…lol

Member: Are we there yet? Are we there yet? Are we there yet? Said from the back of my RV station wagon!

MZ: Lots of rumors floating around….Rumors have pretty much called it every night for about 2 AM for the last 3-4 days. We seem to be in some kind of holding pattern .News is not flowing like it was. We know we are close and we know people have been moving into position. Paymasters, bond holders , currency holders groups…. all seem to be in position.  All we can do is sit and wait.

Member: Waiting on the RV--I feel like that old Ketchup Commercial, sitting here singing " Anticipation, Anitic-a-pay-ay-tion... its making me wait!"

Member: We are sitting on the bench waiting for the coach to tell us it’s our turn to play.

MZ: Exactly

Member: it's hard to understand why they r playing this “hold on” game. if they have given traveling money that means they r putting holds on private jets costing 1k to hold

MZ: No updates on CMKX, farm claims and prosperity packages.

Member: Mark, Will there be a need for FDIC when we exchange?

MZ: Supposedly we are not supposed to need the FDIC because your money will be held as “ledger” and covered. It is my understanding that instead of covering $250K…..we will be protected and covered to infinity…and beyond.

Member: Spot gold hit $3,060 this morning...down a little now....Siler is up to $35 now

MZ: in Iraq: “Sudanese advisor talks to Al-Jabal about the reason for delay in sending the 2025 budget schedules and the date of their arrival to parliament”  They have handed it off to parliamentary members now so they start working on it in the committee. They will have a vote on these tables soon. There are many articles out about this today.

MZ: “ The second phase of the Jordanian-Iraq electricity interconnection project is nearing completion.”  They are going through with the plan to remove any dependence on Iran. This is part of that.

MZ: “ Maximum Pressure: Iran’s Rial hits record low due to US sanctions”  The Iranian rial fell to $1 million 39 thousand against the US dollar. So one dollar buys over one million rial now. No idea if Iran will be in our first basket or not.

MZ: “Zimbabwe may scrap US dollar for local transactions without notice” They just may drop the dollar and promote using the ZIG . This is part of sovereignty and part of Nesara/Gesara and working towards parity with each country. .

Member: Does anyone think Trumps “Liberation Day” next Wednesday has anything to do with the rv?

Member: Tariffs set things for the future. Outcome Tax. No Income Tax. External income tax instead of internal income tax

Member: Tariffs and bonds will be what takes place for the money coming in to replace the IRS

Member: Tariffs are leveling things out so all nations are 1 to 1 ... all Trumps actions like deportations (we always wondered how they'd go home) are setting the stage for NESARA ...IMO

Member: We are moving from a debt system to a credit system. Get excited people.

Member: Will we get emails as to where to go to exchange. Who sends those?

Member: If you are in a group or members of Dinar Recaps or Chronicles…you should get emails….But the exchange info will be posted by almost every intel provider (including Mark) …you won’t miss it.

Member: Eclipse is on the 29th... Signs of the times..

Member: April 2 “Liberation day is next Wed…..Tax day is April 15th……and  Easter is April 20th. Hope “RV Day is sometime in there as well.

Member: The RV will become Our Freedom Date to Celebrate Every Year!

Member: I'm standing by July 04 as release date for Tier 5 ... so we'll go/exchange by then ...

Member: I use pregnancy metaphors. At this point, we are in the 49th month and dilating.

Member: I hope that when the rv happens we don’t sit there and go “Yeah Right”. and think its a joke

Member: I had a weird dream last night but I was at a bank on the 3rd of April at 1115 am

Member: May all your dreams come true…….lol

StacieZ joins the stream today. Please listen to the replay for her information.

THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY

FOLLOW MARKZ : TWITTER . https://twitter.com/originalmarkz?s=21. TRUTH SOCIAL . https://truthsocial.com/@theoriginalm...

Mod:  MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.

 ZESTER'S LINK TREE: https://linktr.ee/CrazyCryptonaut

THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL  TUESDAY THROUGH THURSDAY EVENINGS FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!  FROM NOW ON NO MORE NIGHTLY PODCASTS ON MONDAYS AND FRIDAYS

Youtube:     https://www.youtube.com/watch?v=jEcQpI5Haf0

News, Rumors and Opinions Thursday 3-27-2025

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV excerpts from the Restored Republic via a GCR: Update as of Thurs. 27 March 2025

Compiled Thurs. 27 March 2025 12:01 am EST by Judy Byington

What if everything you were going through right now was preparing you for a dream bigger than you could ever imagine?

What We Think We Know as of Thurs. 27 March 2025:

Tues. 25 March 2025: A global, silent agreement between dozens of countries to dump the U.S. dollar simultaneously — collapsing its dominance without firing a shot.  WORLD ON EDGE: EUROPE QUESTIONS THE FED — OPERATION SANDMAN IN MOTION, TRUMP READY TO STRIKE! – amg-news.com – American Media Group

Possible Timing:

Thurs. 27 March 2025 is the (allegedly) official unveiling of the Quantum Financial System to the general public. A global broadcast will be securely transmitted through the Quantum Communication Network that will reveal how every citizen can begin using the Quantum Financial System and how to access their own biometric account: https://x.com/rm_loop311_7211/status/1905010423553769844?s=57

Tues. 25 March 2025 Mr. Pool: Reports from Reno suggest that the first batches of ZIM holders have been escorted under military guard to classified exchange points. This isn’t theory. This is protocol. QFS mirrors activated. All ZIM redemption classified as “Special Sovereign Handling.” Each individual is being treated as a transitional asset holder – part of the bridge into the New Earth economy. We’re not exchanging currency. We’re transferring power. https://t.me/Official_MrPool

Wed. 26 March 2025: BREAKING: THE GREAT RESET HAS BEGUN — GLOBAL CURRENCY SYSTEM QUIETLY ENTERS A NEW ERA – amg-news.com – American Media Group

Wed. 2 April 2025: President Trump Has Declared Wed. 2 April 2025 Liberation Day For America! This Historic Date Will Be Known As The Day America Started Taking Back The Vast Wealth That Was Stolen and Looted By The Robber Barron, Globalist, Neo-Feudalist Empire That Has Been Hell Bent On Destroying Western Civilization!

Something Big is Coming on April 2nd as Trump Plans ‘Liberation Day in America’ ~ Redacted News 2025 | Prophecy | Before It’s News

Wed. 26 March 2025: BOOM! TRUMP DECLARES APRIL 2nd “LIBERATION DAY”: A NEW MONETARY WAR BEGINS! VIDEO – amg-news.com – American Media Group

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

Wed. 26 March 2025 How to End the Fed …QFS on Telegram

So much has been written about why we should end the Federal Reserve. With growing public demand for an audit, the call has finally reached the masses. If such an audit happens, it may expose hidden programs like the Bank Term Funding Program and open the door to something bigger. What’s missing, however, is the how. Ending the Federal Reserve must be done carefully—without shocking the system. The goal is simple: unwind its power while minimizing disruption to the money supply.

This can be achieved in five deliberate steps.

First, revoke the Federal Reserve’s authority to manipulate monetary policy. Repeal the Federal Reserve Act and remove its power to control interest rates or print money.

Second, freeze all expiring debt assets on the Fed’s balance sheet—U.S. Treasuries, mortgage-backed securities, and loans—and let them expire naturally over time. These assets make up about 99% of the Fed’s holdings.

Third, sell off non-expiring assets, if any, gradually over 1 to 5 years. Their volume is small and unlikely to cause market instability.

Fourth, convert the Fed into a fully private institution, stripped of its special legal privileges. It may continue operating based on its existing market position, but without state-backed power.

Finally, if the Fed can’t sustain itself as a private bank, other institutions can take over its limited remaining functions—like interbank lending—under standard private banking laws. Its collapse would then be irrelevant.

The Fed’s balance sheet currently holds about $6.8 trillion, mostly in U.S. debt. Roughly $4.2 trillion is in Treasuries and $2.2 trillion in mortgage-backed securities—both with set expiration dates. Letting these assets expire passively, instead of selling them, would slowly shrink the Fed’s footprint. The initial decline would be steep—about 10% in the first year—then taper off to about 1.7% annually, averaging 3.1% per year.

Unlike traditional quantitative tightening, this approach doesn’t drain bank reserves. No reserves are destroyed, no liquidity pulled. The Fed would continue earning interest on remaining assets, using that income to pay interest on reserves held by banks, softening the transition. Over time, as the Fed’s income declines, interest payments to banks would shrink. This would push banks to deploy capital more actively into markets, rather than earning passive returns at the Fed.

The shift would spur lending and investment, adding inflationary pressure that could counteract the deflationary impact of ending the Fed’s debt-buying programs. The result: a gradual rebalancing.

If done correctly, the outcome would be monumental. The Fed would lose its privileged authority. Direct manipulation of interest rates would end. Money supply remains stable, as reserves stay intact. No shock to the banking system. No need to redesign payment systems like ACH.

The dollar may appreciate slightly as discipline returns. The government would face pressure to rein in debt, as a stronger dollar increases real debt costs. And markets, no longer warped by artificial intervention, would reward prudence over reckless leverage.

Ending the Fed isn’t just possible—it’s a necessary step toward a freer, more honest economy.

Read full post here:  https://dinarchronicles.com/2025/03/27/restored-republic-via-a-gcr-update-as-of-march-27-2025/

Courtesy of Dinar Guru:  https://www.dinarguru.com/

Frank26  The currents of Iraq are only flowing in a direction of a new exchange rate.  It's not flowing towards 1310. 

Walkingstick Trump actually said we can take Iraq's oil as repayment.  You think these 20 years we're not going to get paid back?  We got paid back by Kuwait...Therefore the oil flowing in Iraq is not just a statement in Iraq, IMO it is a forced action to start the oil flowing now.  This would expose the budget tables.  This Iraqi monetary reform, I got a feeling about it and that feeling has a lot to do with the quick actions of Donald Trump that we are witnessing.

Militia Man  Regarding the exchange rate article quote "The official exchange rate will become the prevailing and sole one as will the digital exchange rate adopted by monetary policy."  He's talking about the official exchange rate.  He's not necessarily talking about 1310.  He says the official exchange rate 'will become', that sounds to be like it'll be something different and it'll be a sole one on its own

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

Gold Revaluation: Will Trump Erase The US National Debt?

Clear Value Tax:  3-26-2025

https://www.youtube.com/watch?v=oUDJn1NQU9k

Iraq Economic News and Points to Ponder Thursday AM 3-27-25

Financial expert: Iraq's budget deficit is due to bond issuance
 
Economy     Iraq     breaking     Budget     disability     Financial bonds
2025-03-24 23:01  Shafaq News/ Financial expert and former director general of the Central Bank of Iraq, Mahmoud Dagher, attributed the country's budget deficit on Tuesday to the Iraqi Ministry of Finance issuing large bonds. Dagher told Shafaq News Agency,
 
"The budget deficit is behind the Ministry of Finance's efforts to issue bonds worth 3 trillion dinars to obtain cash liquidity to cover its expenses."

He added, "Given the difficulty of marketing bonds to the public, interest rates on bonds were raised and  they were marketed through banks this time,
 
given the latter's liquidity and preference for risk-free, profitable securities such as government bonds."
 
Dagher expects this move to attract banks, given that the interest rates offered are close to the returns generated from other activities.
 
The Iraqi Ministry of Finance is seeking to issue national bonds worth 3 trillion dinars (about $2.3 billion) allocated exclusively to local banks, 

according to a letter issued by the Central Bank to banks. She noted that
 
the bonds will be divided into two tranches: the
 
first,
     worth half a million dinars per bond,
     for a two-year term, with an
     8% annual interest rate, and the
 
second,
     worth one million dinars per bond,
     for a four-year term, with an
     annual interest rate of 10%.
 
The sale is scheduled to take place from March 20 to 29.    
  
https://www.shafaq.com/ar/اقتصـاد/خبير-مالي-العجز-بموازنة-العراق-بسبب-صدار-السندات    

Insurance and Credits
 
Economic 03/26/2025  Yasser Al-Mutawali  Article 45 of the current budget law stipulates that open documentary credits must be insured within Iraq. This procedure means that
 
when the state or individuals import from abroad,
the imports must be insured by companies in the country within Iraq.

This decision reflects the government's interest in activating and stimulating the insurance sector, given its
 
     significant role in maximizing financial resources, on the one hand, and
     in bearing risks in a balanced manner across economic sectors as a whole, by distributing them fairly.
 
Continuing our previous article titled "Insurance and Risk,"
 
it can be said that the Central Bank of Iraq has
 
     circulated this order to banks and
     called on them to implement it,
     indicating its support for this important decision.
 
However, it is noticeable that the
response from banks has been very weak, so
 
coordination between insurance companies and banks is required to ensure the full success of this decision.
 
The current government, in its efforts to support the insurance sector, is attempting to revitalize this vital and important financial sector.
 
These measures may be a response to what we raised here in Al Sabah newspaper, given the difficulties this essential sector is facing.It is clear here that
 
there is unfortunately a lack of insurance culture,
for which the insurance companies themselves and the economic media bear responsibility.
 
It is worth emphasizing here that , in

 this measure
     will contribute to maximizing the budget's financial resources addition to

     preserving the hard currency that goes to international insurance companies in the insurance process.
 
The benefit of the domestic insurance decision will therefore be to stimulate important economic sectors, such as insurance companies and banks, while providing many job opportunities in this field,
 
thus alleviating the widespread unemployment among young people.

Here, I believe that a partnership should be created between reputable Iraqi insurance companies and international companies, with the aim of benefiting from each other's expertise, 

similar to the partnership between our banks and correspondent banks, to ensure profitability from the outset.
 
We ask: What role does the Iraqi insurance company play in these changes?
 
It used to play a major role in insuring imports and exports and investing funds domestically and internationally.
 
In a related context, the government's support for this sector was not limited to requiring documentary credit insurance, but
 
this interest was also reflected in the new health insurance law, which encouraged insurance companies to issue insurance policies for expatriate and resident workers.
 
Thus, insurance companies will flourish again, but insurance companies are required to work on developing their workforce, given the expertise required by these insurance products, especially in the era of digital transformation.
 
This is a shared responsibility in cooperation and coordination between the Insurance Bureau and government insurance companies.  Both private and public.  
  
https://alsabaah.iq/112251-.html    

Iraqi oil refinery  energy  Economy News – Baghdad  The Prime Minister's financial advisor, Mazhar Mohammed Salih, confirmed on Wednesday that Iraq's oil exports to the United States have increased by more than 110% over two years.

"Economic cooperation between Iraq and the United States extends to diverse investment, trade, and economic areas. Economic cooperation between Iraq and the United States has witnessed remarkable developments in recent years," Salih said in a statement reported by the official news agency and seen by Al-Eqtisad News.

He pointed out that "the volume of trade between the two countries has more than doubled over the past two years, as Iraq's oil exports to the United States increased by more than 110%, and Iraq's imports from the United States increased significantly over the past two years, with the value of that trade ranging between $9 and $10 billion."

He explained that "Iraq's imports were primarily in cars, transportation equipment, engineering, and electrical equipment, but the trade balance remained in Iraq's favor, with a difference of $5.7 billion, reflecting the continued superiority of Iraqi exports to the United States, especially in the crude oil sector."

He noted that "economic cooperation between Iraq and the United States is developing, with a focus on enhancing trade exchange and supporting joint investment activities, serving the economic interests of both countries."

Saleh stated that "financial and economic cooperation is part of a positive, shared dialogue between the two countries. Since the beginning of this year, many mutual understandings have been reached in the field of economic cooperation, which are consistent with supporting stability and economic reforms outlined in the government's program, particularly the development of an attractive investment cooperation environment for investors between the two friendly countries, within the framework of the country's general economic policy to achieve sustainable development goals."

https://economy-news.net/content.php?id=53840

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

Seeds of Wisdom RV and Economic Updates Thursday Morning 3-27-25

Good Morning Dinar Recaps,

PAUL ATKINS SEC CONFIRMATION HEARING BEGINS: IS THIS GOOD NEWS FOR CRYPTO?

▪️Former SEC Commissioner Paul Atkins, a Trump nominee, is expected to bring a more crypto-friendly regulatory approach.

▪️Atkins' confirmation faces scrutiny due to his past advisory roles, financial ties to crypto, and potential conflicts of interest.

▪️The crypto industry anticipates Atkins' potential leadership as a shift towards clearer regulations.

The crypto market finally has a leader at the SEC who supports digital assets. After years of strict regulations, uncertainty, and legal battles, there’s a chance for real change. Paul Atkins, a former SEC commissioner and Trump’s pick for SEC Chair, is expected to take a more crypto-friendly approach – if confirmed. Unlike his predecessor Gary Gensler, who cracked down hard on the industry, Atkins wants to introduce clear and predictable rules. He believes confusing regulations have slowed innovation and pushed businesses overseas.

His confirmation hearing today could set the stage for crypto’s next big chapter.

Senate Hearing Begins Today

Atkins will face the Senate Banking Committee today for his confirmation hearing, where he plans to push for a balanced regulatory framework. He has criticized the SEC’s past policies, arguing that complicated and politically driven rules have hurt businesses and investors. His goal is to create common-sense regulations that encourage growth while ensuring proper oversight.

Industry Support vs. Political Opposition

The crypto industry is optimistic about Atkins’ nomination, seeing it as a chance to move away from the SEC’s aggressive enforcement, which has driven innovation overseas.

But not everyone is on board. Senator Elizabeth Warren and other critics have raised concerns about his regulatory past. Warren has questioned his advisory role with FTX, his ties to major financial firms, and his decisions during the 2008 financial crisis. She recently sent him a 34-page letter demanding answers before his hearing.

Questions over Atkins’ crypto investments

Atkins’ financial records show he holds up to $5 million in a crypto investment fund and $1 million in equity across two crypto firms. His and his wife’s total assets exceed $328 million, mostly from his wife’s family wealth. These investments have raised concerns over potential conflicts of interest, which he is expected to address during the confirmation process.

What Happens Next?

Until Atkins is officially confirmed, Mark Uyeda will serve as interim SEC Chair following Gary Gensler’s resignation. The Senate will decide when to hold the final vote on Atkins. If he is approved, it could mean major changes in how the SEC regulates crypto.

While the crypto market welcomes a shift in policy, some worry that too much freedom could lead to illegal activities and fraud. Trump’s open support for meme coins like TRUMP, which remain unregulated, has added to concerns.

Over the last few months, some of Trump’s policies have backfired, and the crypto market is still recovering, far from its peak of $109K. Whether Atkins’ leadership will bring stability or new challenges remains to be seen.

Atkins might be the SEC’s new face, but in crypto, the real question is always the same – will the rules change the game or just the players?

@ Newshounds News™
Source:  Coinpedia

~~~~~~~~~

US SENATE CLEARS RESOLUTION TO KILL IRS’S CONTROVERSIAL DEFI BROKER RULE

A rule to scrap a U.S. Internal Revenue Service rule targeting decentralized finance platforms has cleared the Senate, setting the stage for the president’s expected sign-off.

On March 26, the Senate voted 70-28 in favour of repealing the controversial DeFi broker rule, which sought to expand tax reporting requirements for businesses in the sector.

Earlier this month, the House of Representatives passed the resolution with bipartisan support, with Republican Representative Mike Carey, a vocal critic of the bill, calling it a “massive government overreach” that would compromise the privacy of American nationals and hinder growth in the industry.

Now, the resolution heads to President Donald Trump’s desk for final approval. David Sacks, the White House’s crypto and AI adviser, has previously confirmed the administration’s support, and Trump is expected to sign it into law.

The rules, initially proposed by the IRS and the United States Treasury Department in August and finalised in December 2024, would require DeFi platforms to report user transactions—specifically, gross proceeds from crypto sales—to the IRS, similar to traditional brokers.

This would include collecting and filing personal data of users involved in these transactions, which critics say goes against the nature of decentralisation and puts unnecessary pressure on platforms that often don’t have central operators.

Supporters of the repeal argued that the rule was unworkable in practice and could drive innovation out of the U.S.

The Blockchain Association, a digital asset advocacy group, along with the Texas Blockchain Council, sued the IRS last year.

Marisa Coppel, the association’s Head of Legal, criticized regulators in a joint statement last year, claiming that the IRS and Treasury had “gone beyond their statutory authority in expanding the definition of ‘broker.”

“Not only is this an infringement on the privacy rights of individuals using decentralized technology, it would push this entire, burgeoning technology offshore,” he added.

@ Newshounds News™
Source:  CryptoNews

~~~~~~~~~

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