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
@ Newshounds News™
Source: The Defiant
~~~~~~~~~
FOREX TRADING: THE TAX SECRETS THEY WON'T TELL YOU | Youtube
@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
~~~~~~~~~
Seeds of Wisdom Team RV Currency Facts Youtube and Rumble
Newshound's Podcast Link
Newshound's News Telegram Room Link
Q & A Classroom Link
Follow the Roadmap
Follow the Timeline
Seeds of Wisdom Team™ Website
Subscribe to Seeds of Wisdom Team™ Newsletter
Thank you Dinar Recaps