Seeds of Wisdom RV and Economic Updates Friday Morning 1-24-25

Good Morning Dinar Recaps,

TRUMP CANCELS CBDC, FAVORS STABLECOIN IN U.S. FINANCIAL STRATEGY

▪️Donald Trump cancels CBDC, favoring USD-backed stablecoins to safeguard privacy and enhance financial inclusion globally.

▪️A new task force will recommend clear crypto regulations to foster innovation while opposing invasive financial oversight.

President Donald Trump has taken a strategic move by issuing an executive order to boost the United States position in digital finance technology. One of the most notable orders is the country’s cancelation of central bank digital currency (CBDC).

This order attests to the United States’ preference for stablecoins backed by US dollars over CBDC development, as opposed to that of other nations.

This action is considered a reaction to worries that CBDC might be utilized as too intrusive monitoring instruments violating people’s privacy.

Stablecoins, according to Trump, provide a better alternative for advancing global financial inclusion and preserving the US dollar’s status as the most often used currency worldwide. The US wants to increase its impact in the global digital financial space by helping dollar-backed stablecoins.

Trump: Emphasize Stablecoins and Financial Independence

Strong legal protections for players in the blockchain and digital asset sectors are given by this executive order. Individuals and organizations today have legally acknowledged rights to access, grow, and apply public blockchain technology free from onerous legal restrictions.

Furthermore, underlined by this sequence is the need for self-custody services, which let consumers freely manage their digital resources.

A fundamental issue in the use of CBDC is the stability of value, which stablecoins are said to be able to provide while preserving user anonymity. The US government thus aims to build a digital financial environment that is creative, competitive, and still upholds personal financial freedom.

Of course, this is not the case with CBDC, which is regarded to be able to provide complete control to the government; dollar-based stablecoins provide people chances to still have control over their assets.
Working Group and Regulatory Suggestion Notes

Trump established the “President’s Working Group on Digital Asset Markets” per this order. David Sacks will be in charge of this team and assigned to create a legislative framework that advances the growth of the crypto market. This panel is anticipated to offer suggestions within 180 days that will help to establish legal certainty and draw greater industry innovation.

It also eliminates earlier rules pertaining to crypto deemed to stifle creativity. Proposed legislative clarity should enable players in the crypto space to create innovative technologies free from governmental ambiguity.

Notably, underlined by the restriction on CBDC is the government’s concentration on safeguarding personal privacy from possible too-extensive monitoring.

Advocates of this approach think that stablecoin innovation will help the US dollar’s position on the world market to be strengthened without compromising citizens’ financial freedom. It also implies that the US will not adopt the worldwide trend in central bank digital currencies.

Meanwhile, as we previously reported, Donald Trump is under investigation for ethics after his public involvement in the TRUMP token generated national security and conflict of interest concerns. The TRUMP meme coin was mentioned in a letter addressed to the House Oversight and Government Reform Committee as having the ability to grant inappropriate access to foreign entities.

@ Newshounds News™

Source:  Crypto News Flash

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BRICS: CHINA BREAKS SILENCE ON US TENSIONS, TRUMP TARIFF THREAT

With all eyes fixed on the growing geopolitical turmoil, China, a key member of the BRICS alliance, has officially broken its silence on the growing US tensions amid US President Donald Trump’s impending tariff threat. Indeed, the country has been among the few to speak out regarding the West’s warnings.

After being inaugurated Monday, Trump wasted no time in targeting the BRCIS group. Specifically, he reassured previous threats that he would impose a 100% tariff on the economic alliance. The action was meant as retaliation for the bloc’s ongoing de-dollarization efforts.

Trump Tariff and US Tensions Get Response From China as West & BRICS Faceoff Continues

For the last two years, the BRICS economic alliance has committed to lessening international reliance on the US dollar. Specifically, the bloc has sought out ways to avoid sanctions on various members. That process has seen the group promote the use of local currencies.

Although the previous Biden administration was okay with allowing the practices to go on with little retaliation, Donald Trump is not. Therefore, he has responded in rather concerning ways for those in favor of geopolitical peace. Now, key BRICS member China has broken its silence on emerging tensions and the 100% tariff threat issued by US President Trump.

In a recent report, the Chinese Ministry of Foreign Affairs (MoFA) released a statement Thursday. “As an important platform for cooperation among emerging markets and developing countries, BRICS advocates openness, inclusiveness, and win-win cooperation, not bloc confrontation, and does not target any third party,” they said. “The aim is to realize common development and prosperity,” they added.

The statement reaffirms its commitment to the bloc. Moreover, it signals the country’s willingness to continue on the path it has charted. Additionally, the answer comes weeks after India responded to the ongoing threat. Specifically, External Affairs Minister S Jaishankar said the country has “no interest” in weakening the US dollar.

“The US is our largest trade partner,” the official said. We have no interest in weakening the dollar at all,” they added. The development is ongoing and could be vital to global economics in the early months of Trump’s return to the Oval Office.

@ Newshounds News™

Source:  Watcher Guru

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