Seeds of Wisdom RV and Economic Updates Monday Morning 12-23-24

Good Morning Dinar Recaps,

TRUMP TAPS PRO-CRYPTO ECONOMIST STEPHEN MIRAN TO LEAD COUNCIL OF ECONOMIC ADVISERS

Miran will advise Trump on policy and help shape the administration's economic agenda to achieve its goals.

President-elect Donald Trump has nominated Stephen Miran, a former Treasury official from his first administration, to lead the Council of Economic Advisers. By selecting Miran, Trump is bringing experienced leadership back to Washington to help shape economic policy.

“Steve will work with the rest of my Economic Team to deliver a Great Economic Boom that lifts up all Americans,” Trump said in a Truth Social post on Sunday.

Miran has openly criticized the Biden administration, specifically targeting Fed Chair Jerome Powell. He condemned Powell for calling for more aggressive fiscal and monetary stimulus in Oct. 2020, just a month before the election, to boost the economic recovery during the pandemic.

Stephen Miran to Help Craft Trump’s Vision for a Booming Economy

The White House Council of Economic Advisers is a three-member team. It advises the president on economic policy. Miran will guide Trump on policy matters and be a key spokesperson to promote those decisions. He will provide insights and recommendations to shape the administration’s economic agenda. His work will help achieve its broader goals.

Currently a senior strategist at hedge fund Hudson Bay Capital Management, Miran said he was honored to be chosen. “I look forward to working to help implement the President’s policy agenda to create a booming, noninflationary economy that brings prosperity to all Americans!” he posted on X.

Miran’s appointment requires Senate confirmation. Last month, Trump named Kevin Hassett as chair of the National Economic Council. And he nominated Paul Atkins to replace Gary Gensler as SEC Chair.

Miran Sees Crypto as Catalyst for Prosperity Under Trump’s Agenda

The crypto community has shown strong support for Miran, including Michael Saylor, executive chairman of MicroStrategy. In a recent interview with The Bitcoin Layer, Miran criticized the current financial regulatory framework, calling it overly restrictive and a barrier to financial institutions.

He also pointed out the importance of innovation for economic growth, highlighting cryptocurrency’s potential role.

“I think crypto will have a big role in innovation and ushering in a Trump administration economic boom,” he said in the interview.

Milan said on X on Sunday that he looks forward “to working to help implement the President’s policy agenda to create a booming, noninflationary economy that brings prosperity to all Americans.”

@ Newshounds News™

Source:  CryptoNews

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TRUMP APPOINTS FORMER COLLEGE FOOTBALL PLAYER, GOP HOUSE NOMINEE BO HINES TO HEAD CRYPTO COUNCIL

President-elect Donald Trump announced that Bo Hines, a former college football player who ran unsuccessfully for the House of Representatives in 2022, to lead his “Crypto Council” as the Executive Director of the Presidential Council of Advisers for Digital Assets.

“In his new role, Bo will work with David [Sacks] to foster innovation and growth in the digital assets space, while ensuring industry leaders have the resources they need to succeed,” Trump wrote.

Trump also earlier appointed Stephen Miran to head his Council of Economic Advisers. Miran has previously stated that regulations inhibit innovation in the crypto sector.

In posts on Truth Social Sunday, Donald Trump appointed two new figures as advisers on economic issues.

Foremost of concern to crypto investors, Trump announced on Sunday that Bo Hines, a former college football player who secured the Republican nomination for North Carolina's 13th congressional district before succumbing to his Democratic opponent in the general election, will serve as the Executive Director of the Presidential Council of Advisers for Digital Assets, which Trump refers to as the "Crypto Council."

Trump had previously appointed David Sacks to spearhead crypto and A.I. issues at the White House, and refers to Hines working alongside Sacks in his announcement.
"In his new role, Bo will work with David to foster innovation and growth in the digital assets space, while ensuring industry leaders have the resources they need to succeed," Trump wrote. "Together, they will create an environment where this industry can flourish, and remain a cornerstone of our Nation's technological advancement."

Hines received funding in his 2022 Congressional race from pro-crypto PACs, The Block previously reported. Some of the money came from FTX executive Ryan Salame, according to Business Insider, who is currently serving a seven-and-a-half year prison sentence after pleading guilty to charges including conspiring to make unlawful political contributions.

Hines ran in the same district in 2024, but failed to secure the Republican nomination, coming in fourth place with 14.4% of the vote. Republican Addison McDowell later won the district in the general election with 69.2% of the overall vote.

Earlier on Sunday, Trump appointed former Treasury Department official Stephen Miran to chair his Council of Economic Advisers.

"I think financial regulation is excessively burdensome and prevents banks from...lending into the economy as much as they as much as they would. And I think sometimes [that] can really inhibit innovation in areas like the crypto-economy," Miran told podcast The Bitcoin Layer earlier this month.

@ Newshounds News™

Source:  The Block

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🎄 Holiday Announcement from the Seeds of Wisdom Team 🎄

As the holiday season approaches, we want to ensure everyone has time to enjoy their families and count their blessings. We will be closing our rooms for a few days during Christmas and New Year's to celebrate and recharge.

Telegram Holiday Hours:
Rooms will remain open for READ Only

Closed: December 23rd - December 25th
Open: December 26th
Closed for New Year's: December 30th
Reopen: January 2nd

Newshounds will continue to post in the Morning Newsletter during the Holidays except on Christmas Day and New Year's Day. 

Wishing all of you a joyous holiday season filled with love, laughter, and cherished moments. Enjoy your holidays and see you in the New Year! 

@ Newshounds News™

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Seeds of Wisdom RV and Economic Updates Sunday Afternoon 12-22-24

Good Afternoon Dinar Recaps,

WHAT ARE COMPRESSED NFTS AND MINTING CNFTS

Understanding compressed NFTs

Compressed NFTs are a type of non-fungible token (NFT) designed to reduce the cost of storing and transacting with NFTs on the Solana blockchain.

With the increasing adoption of NFTs, developers face difficulties maximizing storage and lowering minting costs for these digital assets. The Solana blockchain introduced compressed NFTs (cNFTs) to overcome such challenges.

CNFTs are a newer type of non-fungible token that leverages state compression technology to store data more efficiently on Solana. Unlike traditional NFTs, which store all the token’s metadata directly onchain or via external links (like IPFS), cNFTs use Merkle trees to optimize data storage.

In simpler terms, while regular NFTs store individual ownership and metadata records for each token onchain, cNFTs group these records in a highly compressed format. This significantly reduces storage costs and improves transaction speeds.

Although the technology is still in its infancy, it accounts for most NFTs minted on Solana.

Did you know? In March 2023, Crossmint produced the first large-scale mint of compressed NFTs on Solana. Minting 300,000 NFTs the traditional way would cost over $74,000, but with state compression technology, Crossmint reduced this cost to less than $200!

Key features of compressed NFTs

With cNFTs, artists and developers can mint thousands, even millions, of tokens at a fraction of the cost of traditional NFTs, boosting innovation.

Let’s look at some key features and benefits of cNFTs:

Cost efficiency: Minting thousands of compressed NFTs costs only a fraction of what it would for regular NFTs. For instance, as per Solana’s report, about 24,000 SOL are needed to create and mint 1 million traditional NFTs utilizing the traditional metadata route. It is possible to organize cNFTs so that the same setup and mint cost 10 SOL or less. This implies that anyone utilizing NFTs on a large scale may use cNFTs instead of standard NFTs to reduce expenses by more than 1000x. Research by Helius shows cost comparison with and without compression NFTs, as seen below:

Scalability: Designed for high-volume use cases like gaming, social media and metaverse assets, where thousands or millions of tokens might be needed.

Onchain and offchain flexibility: While ownership is tracked onchain, much of the metadata can be stored offchain, further reducing costs without sacrificing utility.

Compressed NFTs offer several key benefits that stand out in the blockchain ecosystem. Their affordability significantly lowers minting and storage costs, enabling creators and businesses to access blockchain technology without financial barriers.

Additionally, cNFTs contribute to greener blockchain practices by reducing storage requirements and, consequently, energy usage. These attributes position cNFTs as a potential game-changer for scalable, eco-friendly and innovative applications.

Did you know? DRiP on Solana has distributed over 4 million free compressed NFTs, making it one of the most accessible NFT platforms for onboarding new users. This innovative approach allows artists to create and share digital art with minimal costs, reshaping how people experience NFTs.

Compressed NFTs vs regular NFTs

While both cNFTs and traditional NFTs aim to tokenize digital assets, their design and use cases differ significantly.

Traditional NFTs are known for their uniqueness and exclusivity, but their minting and storage costs can be prohibitively high for large-scale applications.

Compressed NFTs solve this problem by utilizing state compression, drastically reducing costs and enabling affordable mass production of tokens.

Unlike traditional NFTs, which often store all data onchain, cNFTs offload metadata to offchain systems, maintaining utility while minimizing blockchain storage needs.

Some key differences include:

Regular NFTs are best suited for high-value, one-of-a-kind digital art or collectibles.

Compressed NFTs, on the other hand, excel in scenarios that require high scalability, such as distributing gaming assets or digital collectibles to millions of users.

How to mint cNFTs: A step-by-step guide

CNFTs use state compression and Merkle trees to store data in a compact format.

Minting cNFTs may seem daunting at first, but with the right tools and knowledge, it’s a straightforward process to mint and distribute. While each platform will have its own instructions, here is a general guide to get started on cNFTs:

Step 1: Set up a wallet: Use a Solana-compatible wallet like Phantom or Solflare to manage your funds and interact with blockchain tools.

Step 2: Fund your wallet: Add SOL (Solana’s native cryptocurrency) to cover the cost of minting. CNFTs are highly cost-efficient, so even small amounts are sufficient.

Step 3: Select a minting platform: Platforms like Crossmint, Metaplex and Candy Machine (on Solana) support cNFTs. Based on your project’s scale and features, choose one.

Step 4: Prepare metadata: Define the details of your NFT collection, including artwork, descriptions, attributes and other metadata. Use offchain storage solutions like IPFS if needed.

Step 5: Mint your cNFTs and set up a Merkle tree: CNFTs use Merkle trees to organize data. Most minting platforms automate this process. Follow the platform’s interface to mint your compressed NFTs. Confirm transactions through your wallet, and voila — your cNFTs are live!

Where are compressed NFTs stored?

Unlike ordinary NFTs, in cNFTs, the Merkle root is stored onchain, and the Merkle leaves are stored offchain.

CNFTs leverage a hybrid storage model that balances onchain and offchain storage, ensuring cost efficiency and scalability. Ownership of cNFTs is always tracked onchain, ensuring the authenticity and provenance of the asset.

Still, much of the asset’s metadata, including images or detailed information, is typically stored offchain. This decentralized offchain storage often uses protocols like IPFS to ensure that the data is distributed and can be accessed by anyone.

This combination of onchain ownership with offchain metadata helps to reduce costs significantly, as storing large amounts of data directly on the blockchain can be expensive and inefficient.

In the case of Solana’s cNFTs, the metadata is compressed and stored in a way that drastically reduces the blockchain’s storage needs while maintaining the integrity of the asset’s information.
@ Newshounds News™

Source:  CoinTelegraph

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Someone asked in our Living room 'how will we know when the RV will happen?'

Here was the response:

If you have not signed up for the 64 Group I urge you to do so.  Salty Toes will try to get everyone signed up into the group so you will receive an email from them when the RV happens. No promises but she does have some contacts. Read her post above.  

More about the group in the Seeds of Wisdom Team Newsletter here.  And you can go directly to the website to sign up for 64 Group and dont forget to check the box to allow the group to send you an email.  

Also Salty Toes will be sending out a Newsletter as well with all the information she has when the time comes.  You can subscribe to the Seeds of Wisdom Team Newsletter here:   Newsletter

Have a blessed Christmas.❤️

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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Seeds of Wisdom RV and Economic Updates Sunday Morning 12-22-24

Good Morning Dinar Recaps,

XRP LAWSUIT NEWS: EX-SEC LAWYER REVEALS RIPPLE WAS DISCUSSED WEEKLY, PREDICTS POSSIBLE DISMISSAL OF APPEAL

Ripple-SEC closed meeting sparks rumors of potential case dismissal, fueling XRP community's hope for a major rally ahead.

Former SEC lawyer predicts possible XRP case closure, as government shutdowns and RLUSD launch impact Ripple's future prospects.

There are rumors that Ripple and the SEC will have a closed meeting, which could lead to a significant development in the XRP case. Speculation suggests that the meeting may result in the case being closed or dropped entirely, with answers expected soon.

A user reacted to this, praising the XRP community for its unwavering perseverance. Despite being wrong many times, the community continues to stay positive and hopeful, showing up every month for updates.

Ex-SEC lawyer Marc Fagel believes the SEC will continue on its current path for now, filing the opening brief as planned. He also pointed out that the new SEC chair could take some time to be confirmed, and it’s possible that they may vote to dismiss the appeal. Though it’s an unusual step, Fagel thinks it’s a possibility if the right people are in charge.

SEC’s Shutdown, RLUSD Live and More

In other news, the SEC is preparing for a government shutdown, which could impact its operations. Government shutdowns and financial instability, like the US government’s debt issues, have added pressure on the market.

Ripple’s RLUSD launch had positive price action initially but has since been impacted by market downturns. Brad Garlinghouse, Ripple’s CEO, believes RLUSD will be big for the company’s future. With SEC’s clarity and possible case dismissal, XRP might be up for a massive rally.

@ Newshounds News™

 Source:  Coinpedia

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GOOGLE TO REQUIRE UK CRYPTO ADS TO REGISTER WITH FINANCIAL REGULATOR STARTING JANUARY 2025

The new policy will take effect on January 15, 2025.

Hello, World!

Google has announced a policy update requiring advertisements for digital asset exchanges and wallets in the United Kingdom to register with the Financial Conduct Authority (FCA) before being allowed to run on its platform.

The new policy will take effect on January 15, 2025, the search engine company said in a recent announcement.

Under the updated rules, advertisers offering crypto exchange services or software wallets in the UK must meet specific conditions to promote their products.

UK Crypto Firms Need to Register with FCA

Chief among these is registration with the FCA, ensuring compliance with the country’s financial regulations.

Additionally, Google will permit advertisements for hardware wallets that store cryptocurrency private keys, non-fungible tokens (NFTs), or other digital assets.

However, these hardware wallet providers must avoid offering ancillary services such as buying, selling, or trading digital assets.

While the search giant did not provide additional requirements for hardware wallet ads, it emphasized that all advertisers must adhere to local laws in their targeted regions.

“As a reminder, we expect all advertisers to comply with the local laws for any area that their ads target. This policy will apply globally to all accounts that advertise these financial products,” Google said.

The new policy underscores the growing scrutiny of crypto-related advertisements worldwide as regulators attempt to curb misleading promotions.

In the UK, the FCA recently issued a warning about the Solana-based memecoin and NFT project “Retardio.”

The regulator flagged the project for unauthorized promotions targeting UK consumers, cautioning that investors might face financial losses if the company fails.

Elsewhere, Nigeria’s Securities and Exchange Commission (SEC) has also introduced stricter advertising guidelines for crypto products.

The SEC now requires virtual asset service providers and influencers to secure agency approval before publishing promotional materials.

Google Ads Promotes Fake Crypto Websites

As reported, a sponsored Google ad posing as a link to Sony’s blockchain project, Soneium, was exposed as a cleverly disguised crypto wallet drainer.

In October, a search for “soneium” on Google led users to a phishing site designed to steal crypto assets.

The ad linked to a website with a domain name similar to Soneium’s official site, which appeared as a legitimate yet unfinished landing page for a radiology service based in the UK.

In another incident, a fraudulent cryptocurrency wallet app on Google Play reportedly stole $70,000 from users in a sophisticated scam that has been described as a world-first for targeting mobile users exclusively.

The malicious app, named WalletConnect, mimicked the reputable WalletConnect protocol but was, in fact, a sophisticated scheme to drain crypto wallets.

The deceptive app managed to deceive over 10,000 users into downloading it, according to Check Point Research (CPR), the cybersecurity firm that uncovered the scam.

The scammers behind the app were well aware of the typical challenges faced by web3 users, such as compatibility issues and the lack of widespread support for WalletConnect across different wallets.

@ Newshounds News™

Source:  CryptoNews

~~~~~~~~~

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Seeds of Wisdom RV and Economic Updates Saturday Afternoon 12-21-24

Good Afternoon Dinar Recaps,

NOT BRICS, THIS COUNTRY POSES BIGGEST THREAT TO THE US DOLLAR

The BRICS alliance aims to pull the US dollar down from the global reserve currency and trample its dominance. Despite multiple efforts to uproot the USD, the bloc remains unsuccessful in attempts to de-dollarize.

The greenback remains the dominant currency and a force to reckon with in the forex markets. Around 58% of the world’s reserves are in the USD, and cutting ties with the currency will prove fatal to the prospects of emerging economies.

The US pressing sanctions on countries of their dislike is what led to the de-dollarization process in the first place. Countries such as Russia, Iran, and Belarus, among others, have been severely impacted by sanctions pressed by the US. 

On the other hand, BRICS member China has teamed up with these nations to further the de-dollarization agenda. China is looking to capture the global economy by pushing the Chinese yuan ahead for trade and not the US dollar.

BRICS: US Biggest Threat to the Dollar

A recent Bloomberg opinion report states that the biggest threat to the dollar is not BRICS but the US itself. The report explains that Trump’s threats won’t do much as the USD’s power is mostly dependent on American reliability.

 America’s larger-than-life GDP made it gain an “exorbitant privilege” to control the reserves of the world’s central banks. The development made the Federal Reserve, US officials, and politicians tolerate deficits that could have tanked the economies of any other country.

Therefore, the US poses the biggest threat to the dollar compared to BRICS or any other alliances of developing countries. “If Trump wants to maintain the dollar’s primacy, he should recognize that its value is not dependent on American power and threats, but on American reliability.

Overreach — whether through ad hoc sanctions, meddling with the Federal Reserve, unilateral tariffs or geopolitical confrontations — poses a far greater threat to the US currency than anything the BRICS countries could possibly devise,” it read.

@ Newshounds News™

Source:  Watcher Guru

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HEDERA (HBAR) GAINS INSTITUTIONAL TRACTION WITH STRONG BACKING FROM TECH GIANTS AND FINANCIAL SECTORS

▪️Hedera’s key partnerships with NVIDIA and Intel aim to leverage its technology for creating “Verifiable Compute,” a hardware-based solution.

▪️Valour Digital Securities Limited (VDSL) and The Hashgraph Group (THG) have introduced the first physically-backed Hedera HBAR Exchange-Traded Product (ETP) on Euronext Amsterdam.

Hedera (HBAR) finds its standing in a majorly leading light as it associates with the traditional finance setting, the enterprise technology sectors, and artificial intelligence. This could potentially lay the groundwork for the network growth curve this year, 2025.

European Markets Register First Physically-Backed Hedera ETP

Valour Digital Securities Limited (VDSL), in partnership with The Hashgraph Group (THG), has launched the first physically-backed Hedera HBAR Exchange-Traded Product (ETP) on Euronext Amsterdam. This is a landmark step toward making HBAR accessible to institutional and retail investors through regulated financial channels.

The product is launched under the prospectus of VDSL, allowing investors to approach HBAR in a depository-regulated manner without facing exposure to direct cryptocurrency investment. Olivier Roussy Newton, CEO of DeFi Technologies, which owns Valour, further adds that “this listing expands the scope for institutional and retail investors to engage with Hedera’s dynamic, sustainable ecosystem.”

NVIDIA and Intel are going to utilize the hashgraph technology offered by Hedera to produce their chips. Along with EQTY Lab, the new “Verifiable Compute” has been born, a hardware-based solution made to meet EU regulations surrounding AI operations, per the CNF report.

This will log the decentralized cryptographic certificates verifying the computations the AI does on the said network, hence accurate and accountable. Slated for 2025 release, this will be providing impenetrable records on AI processes.

What’s Next For HBAR Price?

Santiment has ranked Hedera among the top three cryptocurrencies in terms of activity over the past month, along with Internet Computer and Chainlink. Eric Balchunas and James Seyffart of Bloomberg highlighted that Hedera may lead the list to secure U.S. ETF approval, putting it at the same level as Bitcoin and Ethereum, reported CNF.

One benefit is that the native Hedera token, HBAR, was not classified as a security. In that regard, it stands at an advantage over some others, such as XRP or Solana, in their pursuit through regulatory processes.

Although the main focus remains on combined Bitcoin and Ethereum ETFs, Canary Capital has emerged as the sole applicant for a Hedera ETF. This signals early interest in bringing HBAR into mainstream investment portfolios.

At press time, HBAR price stood at $0.2638, down 10.26% in the last 24 hours. However, the token has gained 113% over the last 30 days and 411% over the last 90 days. Hedera’s critical support level is $0.270. Moreover, it is now eyeing breaking the resistance level of $0.31.

The HBAR price chart highlights a symmetric triangle on the 4-hour timeframe. Thus, Market forecasts suggest that HBAR may target $0.37 and $0.61, with projections hinting at a potential surge to $1.00. Analysts attribute these price targets to:

• Growing institutional interest
• Prospects of ETF approval
• Collaboration with prominent tech firms
• Sustained development activity
• Hedera Receives Recognition for Tokenization Innovation

Moreover, the list of Hedera’s achievements is growing, with analysts predicting the HBAR price rally to $3 by 2025, reported CNF. The team announced on X that its Asset Tokenization Studio has been nominated for the INATBA Awards 2025 in the “Most Exciting Tokenization Solution” category.

@ Newshounds News™

Source:  Crypto News Flash

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ISAAC'S LEADERSHIP UNLEASHES FINANCIAL FREEDOM  |  Youtube

Relax and wait for Isaac to post "VICTORY"!

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

~~~~~~~~~

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Seeds of Wisdom RV and Economic Updates Saturday Morning 12-21-24

Good Morning Dinar Recaps,

SEC APPROVES FIRST-EVER BITCOIN & ETHEREUM COMBO ETFS

▪️These new ETFs are unique because they combine Bitcoin and Ethereum, offering investors diversified exposure to the two largest cryptos.

▪️By simplifying the investment process and reducing the perceived risks, these ETFs aim to make crypto investing more accessible.

▪️The SEC's approval of these ETFs signifies a significant step forward for the crypto industry.

The U.S. Securities and Exchange Commission (SEC) has just made a groundbreaking move in the crypto world. It has approved two new exchange-traded funds (ETFs)—the Hashdex Nasdaq Crypto Index US ETF and the Franklin Crypto Index ETF—and they are unlike anything we’ve seen before.

These ETFs combine the power of both Bitcoin and Ethereum into a single investment, making it easier for everyday investors to tap into the world of digital currencies.

But what makes these ETFs so special, and why is the SEC’s approval a big deal? Let’s understand.

What Makes These ETFs Different?

While crypto ETFs are already on the market, these two stand out. Instead of focusing just on Bitcoin or Ethereum, they mix both. The share of each cryptocurrency is based on its market value, giving investors a balanced exposure to both.

Why is this important? Putting all your money into one cryptocurrency can feel risky, especially with how volatile the market can be. By holding both Bitcoin and Ethereum, these ETFs help spread out the risk and let investors take advantage of the strengths of each cryptocurrency.

A Simpler Way to Get Into Crypto

For many, buying Bitcoin or Ethereum directly can be intimidating. These ETFs make it easier by taking away the need to manage wallets or store digital assets on your own. This makes crypto investments more accessible, particularly for people who are new to the space or don’t want the hassle of managing their own assets.

A Major Milestone for Crypto Regulation

The SEC’s approval of these ETFs is a big moment, not only for the crypto industry but for regulators too. It shows that the SEC is taking the market more seriously and is open to more crypto-based financial products.

So, why were these ETFs approved? A key reason is the strong connection between Bitcoin and Ethereum futures and their spot prices. This link helps keep prices stable and reduces the chances of market manipulation, which is important for investors looking for safer options.

Setting Strict Standards for Investors

Both funds have agreements with the Chicago Mercantile Exchange (CME) to closely track trading activity, ensuring everything stays above board. The SEC’s approval shows that these ETFs meet high standards for security and transparency, giving investors more confidence.

What’s Next for Crypto ETFs?

The approval of these ETFs could open the door to even more creative investment options in the future. By combining Bitcoin and Ethereum, these ETFs offer a streamlined way to enter the crypto market. They take away the complexities of buying, storing, and managing digital assets, making it easier for people to get involved.

Looking ahead, there’s a possibility that other cryptocurrencies could be added to similar ETFs, expanding the market even further. But for now, these Bitcoin-Ethereum combos are a significant step forward.

If you’ve been waiting for an easier way to get into crypto without all the complications, these ETFs might be exactly what you’ve been looking for.

FAQs

How do the new crypto ETFs differ from others?
These ETFs blend Bitcoin and Ethereum, offering balanced exposure to both, reducing risk compared to investing in a single cryptocurrency.

Are these crypto ETFs safe for new investors?
Yes, these ETFs are designed to be safer by tracking Bitcoin and Ethereum futures, offering simpler, less risky exposure to crypto investments.

@ Newshounds News™

Source:  CoinPedia

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GERMANY FINALLY PASSES LEGISLATION NEEDED FOR FULL CRYPTO MICAR IMPLEMENTATION

A month ago we wrote that the collapse of the German government coalition was creating problems with implementing the EU’s cryptocurrency regulation MiCA, because it had failed to pass legislation. 

However, on Wednesday the German parliament (Bundestag) finally passed the bill, the Digitalization of Financial Markets Act (Finanzmarktdigitalisierungsgesetz of FinmadiG). Apparently, it was added to the agenda at short notice. Parliament responded to industry requests to ensure the legislation was in place before MiCAR comes fully into force on December 30.

FinmadiG isn’t only about crypto and MiCAR as it also impacts other EU laws such as DORA and the Transfer of Funds Regulation. However, for MiCAR it introduced the Supervision of Crypto Markets Act (KMAG), the piece of legislation that supplants Germany’s old crypto rules with MiCAR.

Technically MiCAR is a regulation, so it does not require local laws. However, legislation was required to designate BaFin as the regulator. Without that, BaFin could not award licenses. That would have allowed EU firms with crypto licenses from other countries to operate in Germany, but German firms would not have been able to operate in the EU.

Additionally, MiCAR has grandfathering clauses allowing firms with existing licenses to continue to operate for up to 18 months, with each jurisdiction deciding on the transition period. The new German legislation specifies a year.

Different EU MiCAR transition periods

However, this week the European regulator ESMA noted that the varying transition periods mean crypto asset service providers (CASPs) need to get new authorizations under MiCAR sooner rather than later. 

For example, if a German CASP doesn’t have a new license by July 2025, they cannot operate in EU countries that have imposed a six month transition period. That includes Latvia, Hungary, Netherlands, Poland, Slovenia and Finland. Lithuania’s transition is five months, and four jurisdictions had not specified the timing when ESMA published its note.

We believe ESMA may have been responding to a letter from the Electronic Money Association (EMA) and three EU crypto trade bodies. They highlighted that the latest regulatory technical standards for licensing were only endorsed by the European Commission at the end of October. That doesn’t give national authorities much time to adopt them or for CASPs to apply.

@ Newshounds News™

Source:  Ledger Insights

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Seeds of Wisdom RV and Economic Updates Friday Afternoon 12-20-24

Good Afternoon Dinar Recaps,

US COURT SCHEDULES KEY DATES FOR RIPPLE CASE

▪️The US Court of Appeals sets critical dates for the Ripple lawsuit.

▪️Bradley Sostack must submit key documents by specified deadlines.

▪️Ripple remains hopeful amidst ongoing legal challenges with the SEC.

The United States Court of Appeals has announced important dates related to a new lawsuit filed by Bradley Sostack against Ripple $2. The court will outline filing deadlines and the dates for presenting major arguments during the appeals process.

Ripple Case Dates

The appellate court received the appeal notification concerning the Ripple case and assigned a case number. The court requested that any motions filed in this process be submitted individually.

Plaintiff Bradley Sostack must submit the Mediation Questionnaire by December 23. The court also expects to receive the Appeals Transcript Order and the Appeals Transcript by December 31 and January 30, respectively.

The plaintiff will initiate the appeals process by submitting the opening brief on March 6 against Ripple and CEO Brad Garlinghouse. Ripple Labs, XRP II, and Garlinghouse are required to respond to the plaintiff’s main assertion by April 7, 2025.

“If there are reported hearings, parties should identify transcripts and make assignments mutually if necessary” – Court

Previous Court Rulings

Ripple, having benefited from prior dividend court rulings, has been appealed by Bradley Sostack. Judge Phyllis Hamilton approved the request to modify the decision and hearing request in the XRP case.

The lawsuit between Ripple and the SEC continues in the Second Circuit Court of Appeals. Ripple executives and the crypto community remain hopeful about the dismissal or withdrawal of the case. SEC Chairman Gary Gensler’s resignation on January 20 has fostered optimism regarding the case’s future.

As developments unfold in the Ripple case, stakeholders are preparing for the ongoing process. Keeping track of the dates set by the court will be crucial for the case’s progression.

@ Newshounds News™

Source:  Coin-Turk

~~~~~~~~~

METALLICUS ACQUIRES FINTECH OPERATOR CONNECTED TO 70 CREDIT UNIONS

The acquisition brings Metal blockchain solutions to Bonifii’s portfolio of credit unions.

Digital banking and blockchain platform Metallicus recently announced the acquisition of fintech service company Bonifii, a credit union service operator (CUSO) connected to 70 credit unions.

The partnership will purportedly establish a separate CUSO for credit union partners that establish and deploy on The Digital Banking Network (TDBN), a multilayer blockchain network servicing the fintech and financial services industry.

According to a blog post from Bonifii, the organization is currently the only CUSO directly connected to a blockchain core developer.

Marshall Hayner, founder and CEO of Metallicus and board member of the Dogecoin Foundation, told Cointelegraph that the acquisition brought the company’s total credit union partners to more than 80, with more than 16 of those already leveraging Metal blockchain technology. He explained:

“Our plan is to continue onboarding more financial institutions and credit unions onto The Digital Banking Network, providing them with bespoke solutions that allow them to move onchain, enhance their operational requirements, reduce costs and enhance services for credit union members globally.”

Digital banking and FedNow

Metallicus has been among the more active blockchain firms in the digital banking space. Its early involvement in the US Federal Reserve’s FedNow digital payments system has positioned it as a core blockchain with inroads to US government programs.

FedNow is a digital payments infrastructure that allows qualified banking institutions to provide government-backed instant payment solutions to their customers. As Cointelegraph reported in May 2023, Metal Blockchain was one of the first chains accepted for integration with the program.

The recent acquisition of Bonifii could allow Metallicus to expand its footprint into the credit union space. Hayner told Cointelegraph that Bonifii president John Ainsworth will transition to the Metallicus team, where he will lead Metal Blockchain’s expansion into the credit union sector as General Manager.

A cursory review of the company’s finances indicates that, prior to the acquisition, Bonifii had raised roughly $20 million over several early investment and seed rounds. While details on Metallicus’ financials do not appear to be publicly available, CoinMarketCap reports a market capitalization of $13.65 million for the Metal Blockchain.

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Source:  CoinTelegraph

~~~~~~~~~

TOP ECONOMIST SHARES WHY SILVER IS THE SAFEST BET RIGHT NOW  |  Youtube

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Seeds of Wisdom RV and Economic Updates Friday Morning 12-20-24

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MOROCCO TO ADOPT A LEGAL FRAMEWORK FOR CRYPTO ASSETS

Morocco aims to regulate the use of crypto assets without hindering innovation in the crypto ecosystem.

Legal Framework for Crypto Nears Adoption in Morocco

A legislative framework governing crypto assets in Morocco is almost ready for adoption, according to Abdellatif Jouahri, the governor of Morocco’s central bank, Bank Al-Maghrib (BAM). This framework seeks to promote financial innovation while regulating the usage of crypto assets.

The central bank governor shared the key update at the BAM council’s final meeting for 2024 with the crypto regulation aligning with G20 recommendations and addressing the risks linked with crypto assets.

According to the governor, the World Bank and the International Monetary Fund (IMF) provided technical assistance in the development of the framework with a clear aim to balance crypto innovation and a well-regulated financial environment.

“We want to regulate the use of crypto-assets without hindering the innovation that may arise from this ecosystem. We engaged all relevant parties to create this framework. This approach ensures effective adoption and minimizes uncertainties.” Jouahri said.

Morocco hopes to establish itself as one of the first developing nations to provide complete and clear legislation for crypto assets by putting this legal framework into effect.

This program equips the nation to handle the financial and economic difficulties posed by the digitalization of monetary systems. The adoption of the legislative text involves a period of public consultation, followed by parliamentary and cabinet approval.

In 2023, Morocco ranked 13th out of 20 nations with the biggest bitcoin usage, according to a survey by Insider Monkey while a Chainalysis global crypto adoption report in the same year ranked the North African nation 20th in crypto adoption.

@ Newshounds News™

Source:  Bitcoin News

~~~~~~~~~

NIGERIAN SEC TIGHTENS CRYPTO MARKETING RULES

The SEC’s new rules on digital asset promotions aim to “curb the menace” of social media influencers promoting unregulated crypto products.

The Nigerian Securities and Exchange Commission (SEC) has updated its crypto rules, adding requirements on crypto-related marketing promotions from virtual asset service providers (VASPs) and social media influencers.

In its revised Digital Asset Rules, the SEC said that VASPs engaging third-party service providers to promote their crypto products must “obtain prior approval from the Commission.” The rules also require VASPs to ensure that the third-party provider complies with marketing rules set by the SEC.

The rules apply to any VASP offering services to the country’s residents and are scheduled to come into effect on June 30, 2025.  

New rules to “curb the menace” of Finfluencers

The SEC’s revisions also address the role of social media influencers, or “Finfluencers,” in promoting cryptocurrency products and services.

Crypto influencers must obtain a “no-objection authorization” from the SEC before publishing their digital asset ads. In addition, they must verify whether the company they are promoting is licensed by the SEC.

Finfluencers must also disclose if they received payment to promote the crypto products or services that they are promoting. Failure to comply can result in penalties, such as a minimum fine of 10 million Nigerian naira (about $6,400) or up to three years in jail.

The SEC also noted that they would monitor crypto ads actively to ensure they adhere to the rules. Violations would result in enforcement actions, including sanctions and financial penalties.

The SEC wrote that the new rules aim to “curb the menace and address the growing popularity of financial influencers.” The SEC said it wants to prevent sharing unauthorized financial investment products on social media or any other marketing mediums.

Nigeria plans to start enforcement actions on unregulated VASPs

At present, only two exchanges are regulated in Nigeria. On Aug. 29, the SEC issued its first provisional operating license to the African crypto exchange Quidax Technologies. It has also approved Busha Digital to operate in the country. The licenses allow the trading platforms to operate as registered exchanges in Nigeria.

On Sept. 9, the SEC said it plans to start enforcement actions against businesses involved in unregulated crypto transactions. Emomotimi Agama, the director-general of Nigeria’s SEC, said that the agency will take action against entities offering crypto services to Nigerians without the proper permits.

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

THIS SMALL DOLLAR CHANGED 1000 LIVES ON CHRISTMAS FRIDAY!  |  Youtube

Help us Help others in the community have a better Christmas with just a dollar.  Link

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Seeds of Wisdom RV and Economic Updates Thursday Evening 12-19-24

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BIS CONSULTATIVE GROUP PROPOSES RETAIL CBDC ARCHITECTURE

According to a BIS report, Jamaica, Nigeria, China, Sweden, the Bahamas and Peru have CBDC programs in various stages of development.

The Bank for International Settlements (BIS) Consultative Group on Innovation and the Digital Economy has proposed a retail central bank digital currency (CBDC) architecture based on a hybrid approach where issuance and governance of the CBDC are handled by a country’s central bank while commercial banks provide consumer-facing services.

According to the BIS, the proposed CBDC framework takes a modular approach to design and will focus on a token-based model to promote privacy.

However, the CBDC architecture will also support account-based models where users have specific accounts tied to an entity. The authors of the proposal wrote:

“Privacy can be guaranteed by separating transaction from identity information, such that the latter remains with private intermediaries and users. This helps to reduce risks and ensure greater privacy protections than in other models.”

Despite promises of privacy, CBDCs are widely seen as the antithesis of permissionless finance, with lawmakers, individuals and even central banks raising concerns about systemic risks, privacy and viability.

CBDCs face widespread backlash

In September, the Bank of Canada backtracked its CBDC development after receiving public feedback indicating that Canadians had little interest in using a central bank digital currency.

In the United States, attorney John Deaton, known in the crypto community for representing XRP holders in the Securities and Exchange Commission lawsuit, vowed to fight against CBDCs.

The lawyer called the campaign against CBDCs “a hill to die on” and said the dangers of a centrally managed digital ledger to individual liberty were a major cause of concern.

A bill introduced by Missouri lawmaker Rick Brattin on Dec. 1 seeks to ban CBDCs in the state. Provisions in the bill would prohibit businesses from accepting CBDCs for payment and prevent any CBDC research or development.

European Parliament member Sarah Knafo recently called on the European Union to abandon CBDCs and adopt Bitcoin.

The European MP said the digital euro was an attempt to usher in totalitarianism and encouraged the European Union to establish a Bitcoin strategic reserve as other nation-states continue accruing the digital currency.

@ Newshounds News™

Source:  CoinTelegraph

~~~~~~~~~

BINANCE.US TO RESUME USD SERVICES IN EARLY 2025 ANTICIPATING FAVORABLE REGULATIONS

In a latest development, Binance. US plans to resume USD services in early 2025, anticipating changes in U.S. crypto regulations. The exchange halted fiat operations in 2023 due to regulatory pressure and SEC claims.

Interim CEO Norman Reed noted on Wednesday that the current SEC administration has caused significant harm to American consumers and the crypto industry, including Binance.US.

SEC’s Regulatory Assault

In June 2023, the SEC accused the subsidiary of violating securities laws. It alleged the company offered unregistered investment products and engaged in anti-fraud practices. The platform has operated under restricted banking access since June 2023, when SEC civil claims triggered a suspension of dollar deposits and withdrawals.

He noted that a key part of this regulatory assault was a concerted initiative by the outgoing administration to unjustly deny cryptocurrency and fintech businesses access to banking services. Reed argues that the SEC’s resistance to innovation has hindered the U.S. financial system’s potential and blocked most Americans from accessing the benefits of blockchain technology.

Going Ahead With Optimism

Despite ongoing legal battles with the SEC, he is optimistic, emphasizing that the SEC has failed to provide evidence of any wrongdoing after 17 months of compliance. Looking forward, with Paul Atkin’s nomination as the next SEC Chair, he foresees a clear regulatory framework for digital assets in the U.S.

As USD services prepare for a return, Binance.US plans to launch new features in the coming months and expand its product lineup.

“While I can’t provide a definitive launch date yet, let me be clear: It is not a matter of if, but when,” interim CEO Norman Reed said in the statement. “We are closer than ever to restoring USD services and our plan is to achieve this important milestone in early 2025,” he added.

He underscored that the platform offers unique features, including 0% fee Bitcoin trading on BTC/USDC, which no other major U.S. crypto platform provides. It also supports 160 cryptocurrencies and staking for over 20 assets, offering more options than any other major on-chain staking platform in the U.S.

He strongly believes that 2025 will be a breakout year for Binance.US, with the teams working hard at building a comeback story for the ages.

@ Newshounds News™

Source:  CoinPedia

~~~~~~~~~

🌱SOVEREIGN VS CITIZEN #CONSTITUTION #SOVEREIGNTY   |  Youtube

Mason speaks about Sovereign vs Citizen.

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Source:  Seeds of Wisdom Team RV Currency Facts

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Seeds of Wisdom RV and Economic Updates Thursday Afternoon 12-19-24

Good Afternoon Dinar Recaps,

BRICS CREATOR SAYS INDIA WILL BE 3RD LARGEST GLOBAL ECONOMY & KEY MEMBER

Things have changed dramatically for the BRICS bloc since the acronym was first coined in 2001. Over the last two years, it has become a key voice in the geopolitical and global economic sectors. Now, BRICS Creator Jim O’Neill has recently expressed his view on its trajectory, while noting that India is poised to soon be the third-largest global economy and a key alliance member.

In a recent interview with The Economic Times, the economist discussed the growth rate of the country. Specifically, he noted that India is “doing almost exactly what we thought over 20 years ago, and that is in the process of becoming bigger than Japan and Germany” and becoming a global force.

India Poised to be BRICS Leader? Jim O’Neill Discusses Shifting Power Balance

The last two years have seen the BRICS economic alliance notably increase in prominence. A massive reason for that has been its seeking of increased independence from a Western-dominated economic system. With de-dollarization being the focus, it has sought to increase the use of its own local currencies.

But that recent surge in prominence has overlooked the reality that the bloc has been in existence for more than 20 years. Moreover, it has continued to shift and change throughout that time. Now, the latest shift could be upon us. Indeed, BRICS creator Jim O’Neill has recently said India may well be on its way to being the third-largest global economy and a key BRICS member.

In a recent interview, O’Neill says India could be on its way to entering the top 3 “in the next five to ten years.” Moreover, he notes that the BRICS country is presented with a key opportunity in the near term.

“This is India’s chance to really demonstrate its ubiquity with some of the natural things in India’s favor.” Specifically, he noted that it is among the younger nations within the bloc. That is not the case for China, one of the key economies in the bloc. Moreover, it should lead to an increased labor force, while they should be able to thrive in a world shifting under a Trump-run America.

Interestingly, India’s relatively low global trade could help them as Trump returns to the White House, O’Neill notes. Tariff plans would not be as big a threat to the nation in the coming years. Meanwhile, the economist notes that Modi and India have been sought out by G7 and BRICS nations. They want India as an ally, and it is due to its strong growth prospects in the coming years.

@ Newshounds News™

Source:  Watcher Guru

~~~~~~~~~

HONG KONG APPROVES 4 NEW CRYPTO TRADING PLATFORM LICENSES IN REGULATORY PUSH

The licensed platforms must meet rigorous standards and undergo evaluations to ensure compliance with global security practices.

Hong Kong’s Securities and Futures Commission (SFC) has issued licenses to four virtual asset trading platforms (VATPs), marking another step in its fast-tracked regulatory framework, according to a Dec. 18 statement.

The licensed platforms include:  Accumulus GBA Technology Ltd, DFX Labs Company Ltd, Hong Kong Digital Asset EX Limited, and Thousand Whales Technology (BVI) Ltd.

This brings the total number of licensed crypto trading platforms in the Asian city allowed to serve retail customers to seven, including HashKey Group, OSL, and the Hong Kong Virtual Asset Exchange (HKVAX).

Licensing regimes

The SFC stated that the recently licensed firms underwent rigorous on-site inspections earlier this year as part of the guidelines introduced in June. The inspections identified areas for improvement, which the firms addressed to secure their restricted licenses.

The licenses come with initial restrictions, but these will be lifted after the platforms pass a second-phase assessment by external evaluators. The process will ensure the platforms meet the required regulatory standards for full operational functionality.

The SFC emphasized that the VATPs must conduct vulnerability assessments and penetration tests through independent third parties. These evaluations are critical to maintaining security and align with global international standards.

The SFC’s Executive Director of Intermediaries, Eric Yip, stated that the licensing process involved close collaboration with the VATPs’ leadership teams. He highlighted the Commission’s dual focus on protecting investors while fostering growth in Hong Kong’s virtual asset ecosystem.

Yip said:

“We aim to strike a balance between safeguarding the interests of investors and facilitating continuous development for the virtual asset ecosystem in Hong Kong.”

Meanwhile, this development aligns with the SFC’s broader plan to expand the licensing of crypto businesses by year-end. In October, the regulator revealed that 11 additional VATPs are under license consideration, with approvals expected to roll out in batches.

The SFC’s proactive approach highlights Hong Kong’s commitment to becoming a global hub for virtual asset innovation while maintaining robust investor safeguards.

@ Newshounds News™

Source:  CryptoSlate

~~~~~~~~~

News on Crypto Regulations for the US!  Bullish news for Utility Crypto!

Rich (CSC) announces that in early January, Congress will be passing crypto regulations soon after returning from break on January 3rd.  This will be followed by mass adoption of the utility ISO 20022 coins we have been talking about which will lead to the new financial system followed by the RV.  But we still have a while for all this to happen.  It just looks like it is all coming together a little sooner with regulations being addressed before the inauguration of Trump.  All good news.  

@ Newshounds News™

Source:  Common Sense Crypto

~~~~~~~~~

OHIO JOINS GROWING TREND OF STATES CONSIDERING BITCOIN RESERVES

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Source:  The Defiant

~~~~~~~~~

FOREX TRADING: THE TAX SECRETS THEY WON'T TELL YOU  |  Youtube

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Seeds of Wisdom RV and Economic Updates Thursday Morning 12-19-24

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GERMANY’S DEKABANK LANDS CRYPTO CUSTODY LICENSE

Germany’s DekaBank has received a bank crypto custody license from German regulator BaFin and the European Central Bank (ECB). We believe Commerzbank was the first German bank licensed last year. However, other major banks have not received licenses, including DZ Bank.

BaFin has issued another 11 crypto custody licenses, mainly for crypto firms. One of them is the digital asset custody subsidiary of Hauck Aufhäuser Lampe Privatbank.

The difference with DekaBank and Commerzbank versus the crypto firms is they are licensed under the Banking Act (KWG).

This is DekaBank’s second new license this year. In July it received a license as a crypto securities registrar for the German issuance of DLT-based digital securities. These crypto securities don’t require a central securities depository (CSD) for issuance.

DekaBank is very active in the digital asset space. It is the founder of SWIAT, the blockchain platform for digital securities in which Standard Chartered and LBBW are also investors. In September Siemens used the platform to issue a €300 million digital bond.

Our understanding is that a crypto custody license is not needed for crypto securities, but is required for cryptocurrencies.

As part of the announcement, DekaBank said this allows the bank to operate throughout Europe under the EU’s MiCAR crypto legislation.

A MiCAR holdup?

We’ve previously reported that there’s a bit of a challenge with MiCAR for German institutions. In October 2023 a draft version of the Supervision of Crypto Markets Act (KMAG) was introduced. It’s the piece of legislation that supplants Germany’s old crypto rules with MiCAR. The problem is this legislation has not been passed and with the collapse of the German ruling coalition, it’s not likely soon.

Hence, while in theory DekaBank’s license will allow it to operate in the EU, we believe that may be subject to the passage of the KMAG law. We contacted DekaBank to confirm, but didn’t receive a response in time for publication.

@ Newshounds News™

Source:  Ledger Insights

~~~~~~~~~

XRP LAWSUIT: JOHN REED STARK SAYS JUDGE TORRES WAS ‘MISTAKEN,’ SLAMS RIPPLE DECISION

The legal battle between Ripple and the SEC has been gaining momentum as the January 15 hearing approaches. John Reed Stark, a former SEC enforcement official and crypto skeptic, recently appeared on Docket Media LLC podcast and opened up about the historic Ripple decisions. He said that the Ripple ruling doesn’t provide broad legal clarity and should only be applied to cases with similar specific facts.

He criticized the Ripple decision, claiming that many people misunderstand the ruling, likely because they haven’t fully read it. He argued that Judge Torres was ‘mistaken on multiple counts, a view shared by other judges who have reviewed the case.

“There’s so many things about the Ripple decision that people get entirely wrong because I don’t think they read it. It’s completely… it’s respectfully to Judge Torres, I think she was mistaken on multiple counts, as does Judge Rakoff and every single other judge that has looked at that decision (thought),” he said.

Stark pointed out that the Ripple decision was twofold. First, he agreed that the initial offering of XRP tokens to sophisticated investors should have been registered as securities to protect those investors. However, Stark disagreed with the decision when it came to the secondary market, where XRP was traded on exchanges.

‘Ripple Decision Created Confusion’

He argued that the lack of a direct relationship between Ripple and retail investors meant they weren’t protected, which he believes is an unfair argument. Stark compared it to buying stocks in companies, where investors don’t have a direct contractual relationship with the company but are still protected under securities regulations.

Stark also criticized the Ripple decision for creating confusion, especially after pro-crypto companies began citing it to argue that tokens were not securities. In response, the SEC sought an interlocutory appeal, hoping to stop the ongoing proceedings. However, the judge rejected the SEC’s request, stating that the Ripple decision could not be used as precedent unless the exact same circumstances were present.

@ Newshounds News™

Source:  CoinPedia

~~~~~~~~~

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Seeds of Wisdom RV and Economic Updates Wednesday Evening 12-18-24

Good evening Dinar Recaps,

EL SALVADOR SECURES IMF DEAL AS BITCOIN ACCEPTANCE TURNS VOLUNTARY

The $1.4 billion IMF agreement establishes voluntary Bitcoin acceptance in the private sector while limiting public sector involvement.

▪️El Salvador reached a $1.4 billion agreement with IMF making Bitcoin acceptance voluntary.

▪️The deal includes fiscal measures and expects $3.5 billion additional financing from World Bank and regional banks.

El Salvador has secured a $1.4 billion agreement with the International Monetary Fund (IMF), marking a shift in the country’s crypto policies by making Bitcoin acceptance voluntary.

The agreement, which requires IMF Executive Board approval, includes fiscal consolidation measures targeting a 3.5% improvement in the primary balance over three years.

El Salvador’s public debt, which reached 85% of GDP in 2024, is expected to decrease under the program.

The deal anticipates additional financing of $3.5 billion from the World Bank and regional development banks to support the country’s economic reforms.

As part of the agreement, El Salvador will reduce Bitcoin’s role in its economy.

The government plans to make private sector adoption of Bitcoin voluntary while limiting public sector involvement.

Taxes will only be accepted in US dollars, further scaling back Bitcoin’s official use.

Officials will also gradually wind down the state-backed Chivo e-wallet operations and restrict Bitcoin-related transactions.

The announcement coincides with Bitcoin’s price decline to just above $100,000, following its recent all-time high of $108,000, as markets react to the Federal Reserve’s hawkish stance on interest rates.

El Salvador’s economy shows resilience amid these changes, benefiting from strong remittances, growing tourism, and improved security conditions.

@ Newshounds News™

Source:  Crypto Briefing

~~~~~~~~~

HONG KONG'S HASHKEY GROUP LAUNCHES ETHEREUM LAYER 2 HASHKEY CHAIN ON MAINNET

▪️HashKey Group has launched its Ethereum Layer 2 HashKey Chain on mainnet.

▪️HashKey joins other crypto firms like Coinbase and Kraken in building their own Layer 2 networks using the OP Stack.

HashKey Group has launched HashKey Chain on mainnet just eight months after first announcing plans to introduce its own Ethereum Layer 2.

HashKey Group is a Hong Kong-based regulated digital asset financial services provider offering trading, asset management, custody and blockchain ecosystem solutions.

During the testnet phase, which began on Nov. 11, the firm claims that HashKey Chain generated nearly 25 million transactions, registered more than 860,000 wallet addresses and achieved 400 transactions per second under test conditions.

A total of 50 projects were successfully deployed, with 300,000 community members actively participating, it said in a statement shared with The Block.

Similar to Coinbase’s leading Layer 2 network Base and Kraken’s upcoming Ink, HashKey Chain joins the broader Ethereum ecosystem as part of the Superchain — a network of interoperable Layer 2 blockchains built using Optimism's OP Stack, which enables seamless communication and scalability across networks.

Other projects, including OP Mainnet itself, Zora and Worldcoin, have already deployed Layer 2s on the Superchain, with the decentralized exchange Uniswap unveiling its own Unichain optimistic rollup plans in October.

“Leveraging the latest OP Stack and rollup technology, we have expanded network capacity to deliver a smoother user experience,” HashKey Eco Labs CEO Kay Lu said. “This also creates a secure, efficient, and developer-friendly environment for building transformative decentralized applications on a compliant and innovation-driven public chain.”

@ Newshounds News™

Source:  The Block

~~~~~~~~~

🌱THE REPUBLIC CITIZENSHIP #SOVEREIGNTY  |  Youtube

Mason on Citizenship

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Source:  Seeds of Wisdom Team RV Currency Facts

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