Seeds of Wisdom RV and Economic Updates Tuesday Afternoon 4-1-25

Good Afternoon Dinar Recaps,

US LAWMAKER WILL REINTRODUCE CRYPTO RETIREMENT BILL TO HELP TRUMP AGENDA

Senator Tommy Tuberville introduced the Financial Freedom Act in 2022 and 2023. Both times, the legislation failed to get out of committee.

For the second time, Alabama Senator Tommy Tuberville is set to reintroduce a bill aimed at allowing Americans to add cryptocurrency to their retirement savings plans.

In a March 31 Fox News interview, Tuberville said he planned to reintroduce his “Financial Freedoms Act” legislation after two failed attempts to get the legislation through Congress in 2022 and 2023. In announcing the bill, the Alabama senator said he wanted to help US President Donald Trump’s perceived role as a “crypto president.”

“Give people a chance to breathe for once [...] let them do what they do best [which] is invest their money,” said the senator.

The Financial Freedom Act, which Tuberville first introduced in the US Senate in May 2022, proposed scaling back regulations with the Department of Labor over the types of investments used in 401(k) retirement plan fiduciaries. The senator said he would reintroduce the bill on April 1, but congressional records showed no movement at the time of publication.

Wyoming Senator Cynthia Lummis was a cosponsor of the 2023 bill, but at the time of publication, it was unclear whether she intended to support it again. In a 2022 interview, the Republican senator said she was “very comfortable with making sure that people can include Bitcoin in their retirement funds.”

Crypto legislation in the 119th session of Congress

The crypto retirement bill came as members of the Republican-controlled Congress considered legislation to establish market structure rules for the industry and stablecoin regulations. Proponents of the legislation have suggested that lawmakers get the bills to Trump’s desk to sign into law before the August recess. After that time, they could become more politically charged issues.

On April 1, Florida voters will decide on their House representatives in the state’s 1st and 6th congressional districts. Republicans Jimmy Patronis and Randy Fine have support from the crypto industry through media buys financed by the Defend American Jobs political action committee. As of March 22, the PAC has spent roughly $1.5 million to support the two candidates.

@ Newshounds News™
Source:  Cointelegraph

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BRICS PRESIDENT EYES INCREASED DE-DOLLARIZATION AS US TRADE WAR LINGERS

The ongoing tensions between BRICS and the United States continue, with the bloc’s 2025 president eyeing increased de-dollarization as a US trade war lingers. Indeed, the West and Global South have been caught in a faceoff regarding the latter’s treatment of the US dollar.

Yet, the bloc has remained steadfast in its commitment to limited exposure and reliance on the greenback. Now, it appears all the more focused on that pursuit amid a plethora of global tariffs levied by an increasingly aggressive Trump Administration.

BRICS Eyeing Increased Local Currency Trade Amid US Tensions

For years, the BRICS bloc has sought to challenge the global status quo. Specifically, it has targeted the continued dominance of the US dollar in economics, with the asset becoming far and away the predominant global reserve currency. However, with the country’s penchant to weaponize the asset, the alliance saw de-dollarization as a method to secure its best interests.

That has drawn the ire of a returning US President Donald Trump, who threatened the bloc with 150% tariffs. With aggressive economic policy becoming a hallmark of the administration, those tensions may only fast-track. Indeed, the BRICS 2025 president is seeking increased de-dollarization amid a brewing US trade war.

The alliance operates on a rotating presidency, with Brazil taking up the mantle this year. According to a recent report, the country is in favor of expanding local currency trade. Indeed, the country’s Secretary of the Finance Ministry, Tatiana Rosito, recently confirmed as much.

“The trade in local currencies is already underway, for example, between Brazil and China,” she said. “No obstacles exist to that on the side of Brazil,” she added. “Therefore, the goal of BRICS is to expand the use of local currencies in any way that will make it possible to reduce costs and will be of interest for association members.”

The questions are, will the act be seen as advancing what is in the best interest of members of the bloc? Or as an affront against the greenback? Indeed, how it is interpreted will be critical in how Trump responds.

@ Newshounds News™
Source:  Watcher Guru

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