Iraq Economic News and Points to Ponder Saturday Afternoon 3-29-25

AT THE OPENING, THE EXCHANGE RATE RECORDED 148,500 DINARS FOR EVERY $100 IN BAGHDAD
Economy | 03/29/2025  Mawazine News – Baghdad  The dollar exchange rate rose on the Al-Kifah and Al-Harithiya stock exchanges, reaching 147,400 Iraqi dinars for every $100.

The selling price at exchange shops in local markets in Baghdad was 148,500 Iraqi dinars for every $100, while the buying price was 146,500 dinars for every $100. https://www.mawazin.net/Details.aspx?jimare=260378

Gold Prices Record A Significant Increase In Baghdad

Economy | 01:23 - 03/29/2025  Mawazine News – Baghdad  Gold prices witnessed a rise in the wholesale markets on Al-Nahr Street in the capital, Baghdad, where the selling price of one mithqal of 21-karat Gulf, Turkish and European gold was recorded at 643,000 dinars, and the purchase price reached 639,000 dinars.

The selling price of one mithqal of 21-karat Iraqi gold was recorded at 613,000 dinars, and the purchase price reached 609,000 dinars.

In goldsmiths’ shops, the selling price of one mithqal of 21-karat Gulf gold ranged between 645,000 and 655,000 dinars, while the selling price of one mithqal of Iraqi gold ranged between 615,000 and 625,000 dinars.  https://www.mawazin.net/Details.aspx?jimare=260381

Iraqi Ambassador To Washington: A Delegation Representing More Than 50 American Companies Will Visit Iraq

 Local | 03/29/2025  Mawazine News – Baghdad  The Iraqi Ambassador to Washington, Nizar Al-Khairallah, confirmed today, Saturday, that a delegation representing more than 50 American companies will visit Iraq.

The Iraqi Embassy in Washington said in a post on the (x) platform, followed by Mawazine News: “Ambassador Al-Khairallah met with Steve Lutes, Vice President of the American Chamber of Commerce and President of the US-Iraq Business Council, along with his deputies.”

The ambassador stated that “the meeting focused on discussing logistical arrangements for the upcoming visit of a delegation of American businessmen to Iraq, which will include representatives of more than 50 American companies specialized in the fields of energy, healthcare, education, transportation, and other vital sectors.”  https://www.mawazin.net/Details.aspx?jimare=260383

The National Bank Of Iraq Raises Its Capital To More Than Half A Trillion Dinars After Recording An "Exceptional Year."

Banks   Economy News – Baghdad   The General Assembly of the National Bank of Iraq (NBI) approved, in its annual meeting, the Board of Directors' recommendation to increase the bank's capital from 400 billion dinars to 520 billion dinars, representing 30% of the capital, and distribute the increase as free shares to shareholders, in addition to a 20% cash dividend worth 80 billion dinars.

The bank said in a statement, "The bank's General Assembly, in a meeting attended by a number of board members, approved the board's report for the fiscal year, the final accounts for 2024, and the expansion plan for the current year, which includes the opening of six new branches in various Iraqi governorates. The General Assembly also approved increasing the number of board members to nine and elected a new board of directors."

Bassem Khalil Al-Salem, Chairman of the National Bank of Iraq's Board of Directors, said, "Last year was exceptional on all fronts, particularly in achieving qualitative accomplishments that reflect the bank's strength and resilience in the face of economic challenges, and in strengthening its presence as a leading financial institution in the Iraqi banking sector thanks to a clear strategic vision, prudent management, and a committed team."

Al-Salem emphasized that "these results were driven by flexible monetary policies and effective banking procedures by the Central Bank of Iraq, which responded quickly to economic and political changes, helped contain the impact of these changes on the Iraqi economy, and maintained exchange rate stability, which strengthened the role of the banking sector and protected the rights of depositors and shareholders."

Al-Salem said, "Last year witnessed an outstanding financial performance, as the bank achieved net profits after tax of 252 billion Iraqi dinars, compared to 190 billion Iraqi dinars in 2023. Net interest income also rose to 166 billion Iraqi dinars, compared to 100 billion Iraqi dinars, a growth rate of 66%."

He pointed out that total income will rise to 452 billion dinars in 2024, compared to 343.1 billion dinars in 2023, representing a growth rate of 31.7%. This reflects the effectiveness of the bank's strategy, which focuses on core banking services such as banking loans for individuals, large, medium, and small companies, and trade finance services for major companies.

Al-Salem expressed his gratitude to the Central Bank of Iraq, represented by the Governor and the Bank's staff, for their continued support of the Iraqi banking sector and their cooperation, which has contributed to the sector's development and provided an environment conducive to growth and development.

For his part, the Managing Director of the National Bank of Iraq, Ayman Abu Dahim, said, "Customer deposits increased to 3.5 trillion dinars in 2024, compared to 2.9 trillion dinars in 2023, a growth rate of 90%. Direct credit facilities also increased to 1.3 trillion dinars, compared to 951 billion dinars for the two years of comparison, a growth rate of 18%."

He explained that "this growth was the result of an expansion in loans granted to employees whose salaries are domiciled with the bank, as well as to small, medium, and large enterprises," stressing that "the growth in various financial indicators contributed to increasing the bank's assets to 5.1 trillion dinars from 3.9 trillion dinars, a growth rate of 29%."

Abu Dahim said, "For the first time in the bank's history, its assets are approaching this mark (5.1 trillion dinars), which reflects the growth in the volume of banking business, the increase in our market share, and our growing ability to serve our customers. Accordingly, the bank becomes the largest among Iraqi private banks in terms of asset size."

On the expansion front, Abu Dahim said, "We have added 104 new ATMs, bringing our network to 294, while the number of branches in Iraq has reached 33. We are also planning to open six new branches in early 2025, in addition to our branch in Saudi Arabia, which provides valuable services to Saudi and Iraqi companies."

He emphasized the bank's commitment to a comprehensive strategy focused on sustainability and digital transformation to serve customers. The bank has worked to keep pace with the latest technological developments and enhance information security and the efficiency of banking services, including installing the T24 banking system from the Swiss company Temenos and launching a new anti-money laundering management system (AML Sirion).

Regarding the bank's plans for 2025, Abu Dahim said, "We will continue to expand our branch network to reach 44 branches, in addition to increasing our ATM network to reach 400 ATMs, with a focus on developing and marketing electronic banking services, increasing the bank's share in trade financing for large companies, expanding the salary localization project and financing small and medium-sized enterprises, and expanding the attraction of deposits from individuals, companies, and official government institutions."   https://economy-news.net/content.php?id=53904

A New Iraqi Position On The US Veto On Iranian Gas Imports

Energy   Economy News – Baghdad  Electricity Minister Ziyad Ali Fadhil warned that US sanctions could affect Iraq's gas imports from Iran.

Fadel said in press statements that "the US sanctions included the first phase related to Iraq's import of electricity from Iran, and the picture regarding gas is not yet clear." He indicated that "the power lines covered by the sanctions supply Iraq with 800 megawatts that feed Diyala, parts of Maysan, and Basra."

He stressed that "Iraq will suffer a hot summer if US sanctions include Iraq's import of gas from Iran," noting that "Iraq is working through the Ministry of Foreign Affairs to present proposals aimed at overcoming the problems that the sanctions may cause."

He pointed out that "Iraq has been dependent on gas since the ministry signed contracts to build gas stations in 2014," noting that "the inability of domestic gas to meet the needs of the stations prompted Iraq to conclude contracts to import gas from Iran."

He explained that "a large number of central stations, especially in Baghdad, depend on imported Iranian gas."   https://economy-news.net/content.php?id=53901

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

Seeds of Wisdom RV and Economic Updates Saturday Afternoon 3-29-25

Good Afternoon Dinar Recaps,

XRP NEWS: SEC COULD DELAY ITS ANNOUNCEMENT UNTIL AUGUST 7? HINT XRP MEMBER!

▪️Ripple vs. SEC lawsuit nears conclusion, but delays raise uncertainty for XRP.

▪️XRP supporter claims SEC will stay silent on the case until August 7.

▪️Ripple’s legal chief suggests settlement paperwork is done, awaiting SEC’s final decision.

he long-running legal fight between Ripple and the U.S. Securities and Exchange Commission (SEC) is nearing its final chapter. With both sides dropping their respective appeals, attention has now turned to what comes next. ‘

However, a new claim from an XRP community member suggests that the SEC won’t make any official announcement on the case until August 7, raising questions about a potential delay.

Is a Settlement Really Happening?

Ripple’s legal chief, Stuart Alderoty, has hinted that all necessary paperwork for a settlement has already been prepared. The next step, however, lies in the hands of the SEC Commission, which is expected to vote on the matter within the next 30 days.

Once that vote is complete, the SEC will move to lift the injunction imposed on Ripple. If Ripple complies with the process, Judge Analisa Torres will then sign off on the motion, officially closing the case.

Will the SEC Remains Silent Until August 7?

Adding more fuel to the speculation, an XRP supporter named Brett recently made a bold claim on social media. He stated that the SEC would not make any official announcement on the lawsuit until August 7, citing a court document as his source.

His post quickly gained traction, with some in the community seeing it as a significant development. However, not everyone agreed. Many pointed out that the document he referenced was from last year, casting doubt on its relevance to the current situation.

Former SEC lawyer Marc Fagel even dismissed the claim outright, calling it “stupid and wrong.” This conflicting information has left the XRP community divided on what to believe.

No Official Announcement From the SEC

Although both the SEC and Ripple have withdrawn their appeals, the agency has yet to make an official announcement, leading to speculation that the case may already be settled. However, legal complexities could be causing a delay.

Fox Business journalist Eleanor Terrett suggested that the SEC might be waiting to ask Judge Torres to remove the injunction—a step that is different from how other cases have been handled.

For now, XRP holders are eagerly waiting for clarity, with hopes that the lawsuit’s resolution will bring long-awaited regulatory certainty to Ripple and its token.

@ Newshounds News™
Source:  Coinpedia

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BRICS: RUSSIA TO FOLLOW US, SEEK MAJOR UAE INVESTMENT DEAL?

The last several months have seen geopolitical tension hit a new high. Indeed, the United States has targeted the Global South with tariffs in an effort to secure the status of the dollar. Now, that has taken an interesting turn for BRICS, as Russia may be looking to follow the US and seek a major investment deal from the United Arab Emirates (UAE).

Both Moscow and the UAE are set to meet to discuss their strategic cooperation. Moreover, that meeting took place after the latter unveiled a monumental investment framework plan with the United States. With tensions still high, the development is one that may have massive implications.

BRICS See Russia UAE Talk Collaboration After Landmark US Deal

Since the start of the year, the BRICS bloc and the US have faced off. With his election win in late 2024, Donald Trump targeted the alliance with 150% tariffs. Specifically, he was seeking to deter their de-dollarization efforts and secure the global reserve status of the greenback.

However, the ongoing tension between both sides took a rather interesting turn this month. Now, they may be set to get even more complicated for BRICS, as Russia is set to meet with the UAE and may be seeking a deal similar to the one it struck with the US.

In a rather surprising development, the UAE announced a mammoth 10-year, $1.4 trillion investment framework in the United States. The move was going to inject increased capital into the US and fortify what is a rather fragile economic standing. Interestingly, the UAE is a BRICS nation, the same one that has been clearly in the crosshairs of the alliance.

Now, a new report highlights that Russian President Vladimir Putin and UAE President Mohamed bin Zayed Al Nahyan are set to hold a telephone meeting this week.

According to the report, both sides discussed the partnership between both nations and gave “a positive assessment” of the dealings so far. Time may tell if they come to an agreement similar to that of the US.

@ Newshounds News™
Source:  Watcher Guru

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TRUMP PARDONS BITMEX CO-FOUNDERS CONVICTED OF FINANCIAL CRIMES: REPORT

Former President Donald Trump has pardoned BitMEX co-founders Arthur Hayes, Benjamin Delo, and Samuel Reed.

The three had previously pleaded guilty to federal charges related to money laundering and regulatory violations, according to CNBC reporting.

The three executives were convicted for failing to implement anti-money laundering measures at BitMEX, which prosecutors labeled a “money laundering platform.”

Reed admitted to violating the Bank Secrecy Act in 2022 and agreed to pay a $10 million fine. Despite BitMEX’s claims of withdrawing from the U.S. market, authorities alleged that the move was a “sham.”

@ Newshounds News™
Source:  Crypto News

~~~~~~~~~

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Iraq Economic News and Points to Ponder Saturday AM 3-29-25

Iraq Begins Implementing New Measures To Improve The Import And Export Environment

Money and Business   Economy News – Baghdad   The General Authority of Customs began implementing new procedures on Friday to improve the import and export environment and ensure the entry of goods in accordance with legal standards.

In a statement received by Al-Eqtisad News, the authority stated, "As part of its efforts to strengthen the national economy and regulate trade, the General Authority of Customs has begun implementing new customs procedures aimed at improving the import and export environment and ensuring the entry of goods in accordance with approved legal standards."

He explained that "the new procedures aim to simplify customs operations through modern electronic systems that reduce delays and ensure smooth workflow. They also aim to combat customs smuggling and protect markets from substandard goods.

They also aim to achieve customs justice among traders, ensure everyone's compliance with approved laws, and stimulate domestic production by regulating imports and encouraging local factories and companies."

He pointed out that "these reforms have received significant support from economic and trade experts, as they will contribute to reducing customs corruption, increasing transparency in commercial transactions, and enhancing the state's resources, which will positively impact development projects and public services. They will also protect consumers from substandard or illegal goods that could impact the local market."

According to the statement, the authority affirmed that "these measures are part of a comprehensive reform plan aimed at facilitating legitimate trade and providing a fair economic environment that ensures the development of the commercial sector and the achievement of sustainable economic growth."

He continued, "With the continued implementation of these new systems, markets are expected to witness greater stability, which will enhance the confidence of traders and importers in the customs system and support the wheel of economic development in Iraq." https://economy-news.net/content.php?id=53886

Al-Sudani: Our Government Has Been Able To Achieve Actual Progress In Many Service Projects

Friday, March 28, 2025, | Politics Number of reads: 142  Baghdad / NINA / Prime Minister Mohammed Shia Al-Sudani stressed that his government has been able to achieve actual progress in many service projects.

Al-Sudani said in a televised interview: Services are a priority of the government program, and came according to a planned vision and the need of each governorate for service projects.

He added: We implemented services according to 3 levels: service and engineering efforts, completing stalled projects, and launching new projects.

Al-Sudani continued: We have achievements in several fields, not only in the field of solving bottlenecks, but also achievements in important projects in the oil and industrial sectors.

He pointed out that the capital, Baghdad, is the identity of Iraq and has been wronged in services for years.  He said: We launched 5 strategic sewage projects on the outskirts of the capital, and work is continuing to accelerate completion.

Al-Sudani stressed that there is a qualitative shift in the health sector, especially in the field of building hospitals and health centers in Baghdad and the governorates.

He explained that a joint operation management system has been implemented in 7 hospitals to develop medical services and reduce the burden on citizens to receive treatment outside Iraq.

He stressed that Iraq has achieved a leap in localizing the pharmaceutical industry and applying the "Made in Iraq" concept according to the latest international specifications and standards.

He explained that Iraq will achieve self-sufficiency in high-octane gasoline for the first time upon the completion of the FCC project in Basra at the end of this year. He also stated that we have major projects with international companies to rehabilitate oil pipelines to preserve our oil wealth.

Al-Sudani continued: We have major investment opportunities in the petrochemical, cement and fertilizer industries, in which we have achieved self-sufficiency.

He confirmed that licenses have been granted to build one million housing units, and the government has supported the private sector with sovereign guarantees to ensure the success of housing and industrial projects.

He said that many items of the national card are secured through local production, and some materials are exported abroad due to their abundant production.

He pointed out that we have achieved 14% of non-oil revenues, and our goal is to achieve a higher percentage through the real reforms adopted by the government.

He added: We have taken important measures to reform government companies and the banking sector to increase the percentage of non-oil revenues.

Al-Sudani said that the Iraqi banking system operates transparently in accordance with international standards, and we have controlled the sale of the dollar, and financial transfers are carried out through internationally recognized processes and procedures. He indicated that contracts have been signed with reputable international companies to reform the private banking sector.

He added: We have reached the final stages of establishing the first Rafidain Bank, and developing the banking system achieves development.

Al-Sudani continued: We have taken an important step to invest in associated gas for the first time in Iraq's history, and flaring will be completely stopped by early 2028.

He explained: We are working on completing the floating platform project to complete the extension of the gas pipeline to the stations, and some countries have expressed their willingness to send ships loaded with gas for preparation.

He said: We have put in place serious solutions to the electricity crisis by addressing the transmission and distribution networks, easing bottlenecks, and implementing collection.

He explained that achieving accomplishments in various fields will restore citizens' confidence, and that we have a project aimed at a real renaissance in all fields.

He stressed that there is no external interference in the Popular Mobilization Forces, which is an official security institution.

He pointed out that the draft law of the Popular Mobilization Forces regulates the organizational structure of the Forces, its formations, and levels of its leadership, and was approved by the government after extensive study.

He stressed that it is necessary to pass laws related to the Popular Mobilization Forces, retirement, and social security, in order to guarantee the rights of members, which is a small part of their sacrifices.

He continued that no party is allowed to impose dictates on Iraq, and that the decision regarding its internal affairs is a national one.

He added: We emphasized the protection of minorities in Syria, and working to confront the terrorist ISIS, which poses a threat to the countries of the region.

He stressed that our position on Syria was expressed by Iraq in accordance with the country's supreme interests, and we have meetings with Turkey, Syria, Jordan, and Lebanon to confront ISIS. https://ninanews.com/Website/News/Details?key=1194597

Finnish Ambassador: Many Of Our Companies Operate In Iraq, Most Notably In The Telecommunications And Construction Sectors

Buratha News Agency1102025-03-28  The Ambassador of the Republic of Finland to Iraq, Anu Saarela, stated on Friday that many Finnish companies operate in Iraq. The ambassador told the official news agency, "There are many Finnish companies operating in Iraq, but the primary motivation for these companies is stability, as they seek a sustainable and safe business environment for investment in Iraq and the region in general."

She added, "Finnish companies operate in several sectors, including energy and communications, with Nokia being one of the most prominent companies operating in the mobile phone sector, along with a few companies in the construction sector, a sector that is no longer as active as it was in the 1980s."

Regarding the Samarra power plant maintenance project, the Finnish ambassador confirmed that "the matter is progressing step by step, and the Finnish company is committed to completing the project." https://burathanews.com/arabic/misc/458139

Gold Prices Rise To An Unprecedented Record High

Money and Business  Economy News - Follow-up   Gold prices rose to an unprecedented high on Friday amid ongoing concerns about an escalating trade war after US President Donald Trump moved to impose tariffs on all auto imports.

Gold prices rose 0.7%, hitting a new record high of more than $3,077 per ounce, surpassing Thursday's high. The metal is on track for its fourth consecutive weekly gain, supported by growing demand for safe-haven assets.

Trump signed a proclamation on Thursday imposing a 25% tariff on auto imports, threatening the European Union and Canada with "stronger penalties" if they cooperate to harm the US economy. Markets are bracing for a new wave of tariffs on April 2, while the White House administration prepares to implement what are known as "reciprocal tariffs," although the details of these plans remain unclear.

These growing concerns about the repercussions of an escalating trade war overshadowed data showing that the US economy grew at a faster-than-expected pace in the fourth quarter, while an inflation indicator was revised lower than the previous reading.

Gold has risen by about 16% since the beginning of the year, setting at least 15 new records, driven by central bank purchases and increased appetite for safe-haven assets amid rising geopolitical and economic uncertainty.

These factors supported prices even as traders reduced their bets on the Federal Reserve cutting interest rates to just two times this year. A rate cut is a strong support factor for gold, a non-yielding asset.

Major banks have raised their gold price forecasts, with Goldman Sachs this week revising its forecast to $3,300 per ounce by the end of the year, citing stronger demand from central banks and strong inflows into gold-backed exchange-traded funds.

In contrast, silver stabilized at its highest levels since approximately 2012, also benefiting from demand for safe-haven assets, particularly amid supply shortages resulting from massive withdrawals from London to US vaults. Suzi Cooper, an analyst at Standard Chartered, noted that rising rental rates in London could push spot prices further upward.

Spot gold was trading up 0.6% at $3,076.92 per ounce at 10:27 a.m. in Singapore, heading for a weekly gain of about 1.8%.

The Bloomberg Dollar Index remained stable, while silver remained unchanged, while platinum and palladium rose slightly.   https://economy-news.net/content.php?id=53875

Oil Prices Are Heading For Gains For The Third Consecutive Week

Economy  | 10:22 - 03/28/2025  Mawazine News – Baghdad  Oil prices are on track for a third consecutive week of gains as markets brace for a new wave of tariffs from the Trump administration, scheduled to take effect early next week.

Brent crude was trading near $74 a barrel after closing up 0.3% on Thursday, while West Texas Intermediate (WTI) crude was below $70. The reciprocal duties, along with a levy on buyers of Venezuelan crude, are set to take effect on April 2, the latest in a series of U.S. tariffs that have rattled global markets.

Oil prices have been rising since early March as investors assess the impact of potential supply disruptions caused by Trump's sanctions and tariffs, while traders rushed to buy bullish options to hedge against potential price spikes. Venezuela also increased its crude exports to China to their highest level in nearly two years.

Concerns about weak demand and rising supply have tempered the potential impact on crude flows at times, with major trading houses forecasting crude prices negatively for the rest of the year. OPEC+ is set to begin returning some of its shut-in production to the market next month as part of a series of planned increases. https://www.mawazin.net/Details.aspx?jimare=260360

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

Seeds of Wisdom RV and Economic Updates Saturday Morning 3-29-25

Good Morning Dinar Recaps,

STABLECOIN LEGISLATION SHOULDN’T FORCE ISSUERS TO COMPLY WITH BANK SECRECY ACT: REP. TOM EMMER

House Majority Whip Tom Emmer thinks stablecoin bills under discussion on Capitol Hill should remove language forcing issuers to comply with stringent anti-money laundering laws.

In a potential sign of brewing tensions regarding key language in multiple stablecoin bills circulating in Congress, House Majority Whip Tom Emmer (R-MN) said this week he doesn’t believe stablecoin issuers like Tether should have to comply with the anti-money laundering Bank Secrecy Act—a major sticking point of both the Senate’s stablecoin-focused GENIUS Act, and the House’s parallel STABLE Act.

Including such a provision in the legislation could box out foreign issuers while favoring U.S. companies, since U.S.-based entities are currently better equipped to meet stricter demands. The lawmaker believes stablecoin issuers, regardless of jurisdiction, should not be subject to the stringent anti-money laundering rules under the Bank Secrecy Act.

“The protections the so-called Bank Secrecy Act is supposed to provide were drafted for cash, and this is blockchain-driven,” Emmer told Decrypt Wednesday evening. “And guess what, everything on the blockchain is open and transparent to people who understand how to follow code.”

“It's pretty interesting to say that the Bank Secrecy Act—which doesn't even contemplate this type of technology, a digital asset—should be what we're using,” the congressman added.

Stablecoins are digital assets typically pegged to the U.S. dollar and designed to keep a steady price. They're used by cryptocurrency traders to enter and exit positions without the need for dollars, and used as dollar equivalents in markets where dollars are restricted or inaccessible.

The latest drafts of the GENIUS Act and STABLE Act treat all stablecoin issuers as financial institutions under the Bank Secrecy Act. The law, enacted in 1970, established a stringent set of proactive anti-money laundering rules that American banks must comply with in order to operate.

The Bank Secrecy Act, for example, obligates regulated institutions to engage in suspicious activity monitoring, undergo routine audits, hire compliance officers, and adopt a customer identification program mandated by the Patriot Act—the controversial law that expanded government surveillance powers shortly after the September 11, 2001, terrorist attacks.

Such requirements would pose quite a hurdle for existing foreign stablecoin issuers like Tether, the company behind USDT and the market’s undisputed leader. Tether, whose USDT stablecoin boasts a market capitalization in excess of $144 billion, is based in the U.S. Virgin Islands, and plans to move to El Salvador—but nonetheless is one of the world’s biggest purchasers of U.S. Treasuries, which it uses as collateral to back its U.S. dollar-pegged stablecoin.

In its current setup, Tether enjoys much less strict regulation than the Bank Secrecy Act would mandate, and the company's leadership has implied that moves to force all stablecoin issuers to comply with such rules would hurt the firm and aid its competitors.

By contrast, Circle, the issuer behind the market's second-largest stablecoin USDC, is already based in the United States. The company is regulated as a money transmitter by the New York Department of Financial Services and as such must already comply with the Bank Secrecy Act.

Circle is also already in compliance with the European Union's elaborate MiCA regulatory framework, a move Tether has resisted.

As stablecoin legislation in the U.S. nears a crescendo, questions have emerged regarding whether Tether would come to the United States if it had to comply with the Bank Secrecy Act—or, alternatively, what would happen if the stablecoin market’s top player was boxed out of American financial markets.

Emmer does not want to risk locking Tether, or any other foreign issuer, out of the burgeoning U.S. stablecoin sector.

“We've got to let everybody compete in this space,” he said.

That doesn’t mean Tether wouldn’t have to comply with certain rules in order to operate in the United States. To Emmer, the sticking point is proof of reserves—showing the government that your token is backed up with sufficient collateral to keep its value pegged to the dollar even in periods of market volatility.

To that end, Emmer believes Tether is, broadly speaking, doing well. In 2021, the company partnered with Wall Street firm Cantor Fitzgerald to help custody some of the $92 billion worth of U.S. Treasuries it claims to currently hold in reserve.

“Tether has done a great job straightening itself out in the last four years,” Emmer said.

The House Financial Services Committee is set to mark up the STABLE Act during a session next week. Meanwhile, the GENIUS Act already passed out of the Senate Banking Committee earlier this month with strong bipartisan support—Bank Secrecy language intact. It is likely to face a full vote on the Senate floor in the coming months.
@ Newshounds News™
Source:  Decrypt

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US BANKS GAIN CRYPTO ACCESS AS FDIC REVOKES APPROVAL RULE

▪️The FDIC has reversed its 2022 policy requiring banks to get pre-approval for crypto activities.

▪️This policy shift, driven by new leadership and industry advocacy, signals a move towards clearer regulatory guidelines.

▪️The FDIC's action, along with similar moves by the OCC, reflects a broader regulatory adjustment in response to the maturing crypto industry.

The Federal Deposit Insurance Corporation (FDIC) has officially scrapped its 2022 rule that required banks to get approval before engaging in crypto activities. For years, banks interested in digital assets were stuck in limbo, waiting for approvals that never came. Now, that roadblock is gone.

With fewer regulatory hurdles, will banks finally embrace digital assets, or will caution still hold them back? Here’s what the new guidance means and why it matters.

FDIC Gives Banks the Go-Ahead for Crypto

In its updated guidance, the FDIC stated that banks under its supervision can engage in crypto-related activities as long as they properly manage the risks involved.

“FDIC-supervised institutions may engage in permissible activities, including activities involving new and emerging technologies such as crypto-assets and digital assets, provided that they adequately manage the associated risks.”

Like any financial activity, banks must assess potential risks, follow consumer protection and anti-money laundering rules, and consult with regulators when needed.

FDIC’s Role in the Crypto Banking Crackdown

The FDIC oversees many smaller banks and plays a key role in protecting the financial system. However, it was also involved in what many call a crypto banking crackdown. A lawsuit involving Coinbase revealed that the FDIC had quietly warned banks to avoid working with crypto companies while drafting new rules—but never actually put those rules in place.

A Shift Under Trump’s Administration

This policy change comes after President Trump appointed leaders who support the crypto industry and encouraged regulators to take a more open approach. FDIC Acting Chairman Travis Hill said this move corrects the agency’s flawed approach over the past three years.

“I expect this to be one of several steps the FDIC will take to lay out a new approach for how banks can engage in crypto- and blockchain-related activities in accordance with safety and soundness standards,” he noted.

Regulators Easing Restrictions on Crypto

Bo Hines, head of the White House’s Digital Assets Advisory Council, called the decision a “huge step forward” in a social media post. Previously, the FDIC, Federal Reserve, and Office of the Comptroller of the Currency (OCC) all required banks to get pre-approval before working with crypto.

The OCC recently reversed its 2022 guidance, which was introduced during a time of instability in the digital asset industry. That period saw major company failures and high-profile fraud cases, including the collapse of crypto exchange FTX. These recent regulatory changes signal a shift in how US regulators view the crypto industry, possibly paving the way for more mainstream adoption.

@ Newshounds News™
Source:  Coinpedia

~~~~~~~~~

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Bruce’s Big Call Dinar Intel Thursday Night 3-27-25

Bruce’s Big Call Dinar Intel Thursday Night 3-27-25 

Transcribed By WiserNow Emailed To Recaps

Welcome everybody to the big call tonight. It's Thursday, March 27th and you're listening to the big call. Thanks everybody for tuning in tonight. Good to have you again, and we look forward to having a great call. Got some interesting things to tell you when my segment comes around, but before we get there, let's go ahead and pray the call in.

All right, let's talk about where we stand on the rest of the story with the intel that we've been getting, a lot's been happening this week a lot, especially since Tuesday. And you know, it's funny, I tend to start either with Iraq or with the bond holders. And I'll start with bond holders.

Bond holders are being told they'll have access to their accounts, which has the money in the accounts already waiting for them to gain access to it. And it should be over the weekend. It could very well be Saturday. I doubt they have it before Saturday though Saturday, but they I think that's probably a safe bet, from what we're hearing from the bond pay masters.

Now, one good thing that did happen. You know what's happening is, even though bonds are only being handled out of Reno and out of Miami with  International flights coming in, resuming again to sparks Reno airport and Miami International Airport on the private side.

You know, for people that are international bond holders in tier three, some of them are whales, maybe not quite in tier two, but pretty good sized whales that are coming in and getting their bonds transacted. Well today, they went through all of the bonds out of a central location, and they report back to Wells Fargo Atlanta for this.

And so Atlanta is telling us that that well, I'll back up a minute. At 10 o'clock this morning, approximately 12% of the bond holders had been gone through in terms of the provenance  the fact that, okay, who is the owner of this bond, is the owner transacting, or is someone transacting on behalf of the owner of the bond as a second party that has a, has a, oh, you know, that has legal right to do that power of attorney over that bond, and how's that going?

Is that something that is happening lawfully and above board, or are there certain bonds and gold backed bonds that they cannot match up to, to the the actual owner of the bond, or to a power of attorney for someone who is negotiating that bond?

I mean, this type of activity was going on all day today, and maybe started yesterday, but I know I got word just before the call tonight that they actually went through and finished all of those that they were trying to find out the legitimacy of the provenance of the bonds as I described, well, that's good. So that part looks like it's complete. That's something that we actually give value to when we begin our exchanges.

It's a weird formula of how that's all working. So I guess we can say, from the bond component of everything that's happening, it looks like it's in good shape, and it's complete  but they are continuing to test other processes for the release of the revaluation  of RV, if you will, the releases of everything that we need to begin our exchanges.

The actual full revaluation is supposed to happen a little bit later, after the first week or so of April, but we don't need all the currencies to be revalued for us to begin our exchanges, because the majority what we're hearing from a very key player –

We've heard a couple of different things today, and one of the things was that the Iraqi dinar  - Okay, so that,  dinar, the Vietnamese Dong and the Zimbabwe Zim dollar. We call it the Zimbabwe dollar. It's a Zim  we call it for short, but those three currencies are the keys to the Gateway for our ex changes. So those three, the gate has been opened, those three are good to go. And because of that, we are good to get started. Okay, so that,

let's see. Beyond that they're testing, you know, we're at the highest security right now. See what's it called?

Well, where one is the lowest number is actually the highest security, and that's where we are, DEF CON, DEF CON com, con DEF CON one, DEF CON one. That's where they are right now, which is good.

That means everything's on high alert, high security, and needs to be there until this event is at least initiated.  Now, who's in control of what's going on right now?

Department of Defense,  DOD – in conjunction with President Trump, and also in conjunction with national security, what they're doing is they're going through this process, and these processes of release, is they're determining, is there anything in the way, nothing is supposed to stop it once it's initiated?

Is there anything that would interfere with this going and as it goes through those various steps, these algorithms, other things that are put in the in the pathway, to make sure that everything is above and copasetic, and that's what's happening now. So let's boil it down to what what's going on.

We believe what I'm hearing from multiple sources that I mentioned, the bondholders should get access to their funds over the weekend, and we're hoping that is Saturday. We're believing we'd get no dot i and begin to set our appointments, possibly as early as tomorrow, but more likely Saturday or Sunday.

So we're going to be pretty close to a true shot gun start - looking for the weekend right now and right and the other thing they were doing this afternoon is they were loading the 800 number, assuming it's just one. Could be more than one, but I believe the 800 is being loaded into various systems, the Starlink - QFS - the FinTech system, wherever it needs to be loaded, it's being loaded in this afternoon to get that done.

And you know, we'll see how that, how it comes out, how it manifests after that, I believe I'll be notified fairly early with the number. Get in touch with Bob and tell Bob to go ahead and place it on the website, which is big call universe, put it on the landing page of the website, and then we'll talk about when we're going to send out the email that would have that number in it to the people that have registered.

You know you could see your own email coming from Wells Fargo over the weekend, and then we could be sending ours at the same time, a little before, a little after, hard to say, the time, because I don't have the timing on the Wells Fargo emails yet.

And of course, this is our last fall of the week, so I'll have to say that we'll hopefully get this over the weekend. Maybe if we do a celebration call on Tuesday, we can regroup and talk about some things then. So in short, we're looking good as everything is  coming together.

Let's talk about dates. Remember the second of April, which helped me with, I believe it's Tuesday.

What's it called?  It's not Freedom Day -  but it's like that, and it's a it's a date that is important for us, because starting then that's when the tariffs are supposed to be made official and then put into effect on the next day, which is Wednesday.

Thank you guys - thank you Bob - freedom, liberation. Liberation Day is exactly right. That's what it is. Liberation Day. And a lot of people think, well, that's when we’re gonna start. That's where we think the RV is going to happen -  Well I think we're going to get started before that day.

But Liberation Day is the day that the doge checks and direct deposits are supposed to start, because that week, that first week of April, is when that is supposed to happen.

And in the month of April, not necessarily the first week, but in the month of April, we are supposed to see an increase in the Social Security payments that are going out. I don't know if it's going to go out as a separate payment, or whether Social Security on the Wednesday, when everybody gets it, Wednesday, first, second, third, fourth, Wednesday of the month, they might have it together, where they'll be increased on your regular Social Security  Day, which, let's see, the first Wednesday would be the third, wouldn't it? So it'd be what the 3rd  the 10th – 17th  and 25th  those would be your four Wednesdays in the month of April.

Okay, so we should see it. From what I'm being told by from sources in Soc Security – we should  see that in April. I just don't know if it's going to happen, like I said, on the third, the 10th, the 17th of the 24th, but we'll see. Keep an eye on that.

Now to deal with R and R, I've told you guys for two months now, at least, that R and R is going to happen. For those of us who are exchanging at the redemption center, it'll be there, and it's probably an amount that they would put into our Quantum account.

They are supposed to tell us what the amount is but they won't break the amount down. There will be a gross amount.  Whatever it is  single  lump sum payment for those who go into the redemption center to redeem our Zim and exchange our currencies, so we'll have that  when we go in.

I'd rather have it separate, but that's how they're going to do it. Can you move that money? You can put money from your quantum account into your Wells Fargo primary secondary accounts. At some point, you'll set up other bank accounts that are connect to your  quantum account where you'd use your quantum card and move funds from that quantum account to your primary or secondary Wells accounts or to another bank account.

My understanding was you could have three different banks associated with your quantum account, all right, so we'll learn more about that when we get there

I’m trying to think if there's anything else of value to us. So R and R at the redemption center, DOGE checks or direct deposits starting on April 2. Yes, April 2nd  is Liberation Day.

And then, of course, we go from there  Social Security and probably on the Wednesdays starting the 3rd . And we'll see how that works out, we'll see how that happens.

As far as exchanges for us, it looks like we're going to get our notifications over the weekend, and maybe  even start Saturday or Sunday and go right through Monday. Monday is still the 31st of March, so we still have a few days in which case we could get started this month, I am not hearing that we will have to wait till the second or third to do our exchanges. I'm not hearing that. I'm hearing that this could go and should be over this weekend, course.

So that's where I am on the thing right now, looking forward to it, and don't know if there's anything else of value there.

So plus, realize this, that's how when we stop doing these live calls, which could be it, this could be we might do one Tuesday, but it could be a celebration call, and we want to be able to keep in touch with everybody that wants to help us do projects together.

After all, this goes in a couple of months when we get everything settled in, websites out, and the projects that are defined for rebuild America. And I'm excited about what I'm looking into and talking with Bob about and others about and it's going to be a good thing for us to start again.

So that's what I wanted to say for tonight. Let's go ahead and pray the  call out, and then we'll have the have a great weekend. Hopefully, everything comes through for us this weekend.

Let's do that.  All right, guys, everybody, have a great weekend. Keep an eye on your emails.. Good night everybody.

Bruce’s Big Call Dinar Intel Thursday Night 3-27-25 REPLAY LINK   Intel begins   1:05:20

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Bruce’s Big Call Dinar Intel Thursday Night 3-20-25 REPLAY LINK   Intel begins   1:18:00

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Bruce’s Big Call Dinar Intel Tuesday Night 3-18-25 REPLAY LINK   Intel Begins   1:00:10

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Bruce’s Big Call Dinar Intel Thursday Night 3-13-25 REPLAY LINK   Intel begins   1:17:17

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Bruce’s Big Call Dinar Intel Tuesday Night 3-11-25 REPLAY LINK   Intel Begins   1:01:01

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Bruce’s Big Call Dinar Intel Thursday Night 2-27-25 REPLAY LINK   Intel begins   1:14:34

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Bruce’s Big Call Dinar Intel Tuesday Night 2-25-25 REPLAY LINK   Intel Begins   36:36

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Bruce’s Big Call Dinar Intel Thursday Night 2-27-25 REPLAY LINK   Intel begins   1:02:22

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Bruce’s Big Call Dinar Intel Tuesday Night 2-25-25 REPLAY LINK   Intel Begins   1:27:27

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Bruce’s Big Call Dinar Intel Thursday Night 2-20-25 REPLAY LINK   Intel begins   1:18:12

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Bruce’s Big Call Dinar Intel Tuesday Night 2-18-25 REPLAY LINK   Intel Begins   1:00:00

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Bruce’s Big Call Dinar Intel Thursday Night 2-13-25 REPLAY LINK   Intel begins   1:19:20

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Bruce’s Big Call Dinar Intel Tuesday Night 2-11-25 REPLAY LINK   Intel Begins   1:07:37

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Bruce’s Big Call Dinar Intel Thursday Night 2-6-25 REPLAY LINK   Intel begins   1:19:4O

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Bruce’s Big Call Dinar Intel Tuesday Night 2-4-25 REPLAY LINK   Intel Begins   44:24

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Seeds of Wisdom RV and Economic Updates Friday Afternoon 3-28-25

Good Afternoon Dinar Recaps,

BRICS GOLD BET PAYING OFF AS TRUMP TARIFFS DRIVE VALUE SKY-HIGH

For much of 2024, the BRICS alliance saw its various central banks embracing gold and investing heavily in the asset. Now, that appears to be paying off in a big way as the slew of US President Trump’s tariffs are driving the haven asset’s value to heights it had never seen.

The metal has long been viewed as a priority investment in times of economic uncertainty and geopolitical conflict. With the United States seeking to balance trade, it has adopted an increasingly aggressive economic policy. Indeed, it has seen the beginnings of a trade war begin as gold is reaching record values this year.

BRICS Gold Buying Proving Smart as Trump Drives Value to New Heights

In late 2024, US President Donald Trump was clear in his intentions with the BRICS alliance. Specifically, he warned of impending 150% tariffs on the bloc if they continued to embrace de-dollarization efforts. What he wasn’t clear on was that a host of other nations would be subject to similar economic policies for reasons they had no way of being aware of.

That has thrown the global finance sector into a period of uncertainty and stagnation. However, it has led one asset to thrive and benefitted one interesting party. Indeed, the BRICS gold bet is paying off big in 2025 as the Trump tariffs are driving its value sky-high.

Gold has continued to shatter records throughout the year. It did so again this month, reaching a new landmark price of $3,035 per troy ounce. In early March, prices were already surpassing $2,980 per ounce, marking a 14% increase year-to-date.

That is set to benefit the economic bloc that Trump was looking to originally target with tariffs. Indeed, the BRICS economic alliance holds a collective 4,800 metric tons after a buying spree throughout 2024. The collective had sought the metal as a key hedge against the US dollar’s dominance.

In effect, gold was a key de-dollarization tool that the bloc is still utilizing to this day. Its presence allows the group to facilitate economic dealings outside of the greenback. 

Moreover, there are talks about the bloc welcoming a gold-backed stablecoin. Altogether, Trump’s economic policy may fuel the very de-dollarization efforts he was hoping to halt.

@ Newshounds News™
Source:  Watcher Guru

~~~~~~~~~

New Isaac Post in his Telegram Room Link 

Isaac is in the process of redeeming bonds.

Keep checking for Isaac's post of VICTORY.  We will be posting here in The Dinar Recaps Blog too.  It is getting exciting!

The Seeds of Wisdom Team

@ Newshounds News™

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Seeds of Wisdom RV and Economic Updates Friday Morning 3-28-25

Good Morning Dinar Recaps,

XRP NEWS: CAN RIPPLE SELL TO INSTITUTIONAL INVESTORS AS SEC DROPS CASE? LEGAL ISSUES EXPLAINED

The U.S. SEC has officially dropped its appeal in the ongoing legal case with Ripple, bringing an end to a four-year legal battle. However, the SEC has yet to confirm the latest developments. There’s been a lot of talk about what will happen to XRP once the SEC clears the legal issues. Some experts think that when the SEC removes the injunction, Ripple will be able to sell XRP to institutional investors without any problems. However, Marc Fagel, a former SEC lawyer, explained why that’s not exactly true.

What Fagel Says About XRP Sales

Fagel pointed out that even if the SEC clears the injunction, the court’s original ruling still stands. The court had previously ruled that Ripple’s sales of XRP to institutional investors were against the law. This means that selling XRP in the same way as before would still be illegal, regardless of the injunction.

He explained that the issue is not just about specific contracts or agreements, but about how Ripple sold XRP to institutional investors. The court found that the way these sales were made made XRP an unregistered security, meaning any future sales made in a similar way could still be illegal.

Room for Legal Flexibility

Despite the legal concerns, Fagel mentioned that not all sales to institutional investors would require registration. Some sales might be allowed under special exemptions. It all depends on the details of the transactions and whether they are similar to the ones that were previously found illegal.

However, Fagel also pointed out that the SEC has been less focused on regulating the crypto market recently. This means that Ripple might not face strict consequences for its future sales of XRP, even if they are similar to previous ones.

What’s Next for Ripple and XRP?

As for Ripple, Fagel said the company’s legal team will need to carefully consider any future sales. If they follow the same pattern as the past sales, they could face legal issues. But since the SEC is less involved in crypto regulation now, Ripple may be able to move forward with fewer legal concerns.

Will Judge Torres Clarify the Ruling?

Some people asked if Judge Torres would provide more clarity on the past XRP sales to institutional investors. Fagel believes she probably won’t. The judge has already made her decision, and Ripple is likely to request that she remove the injunction entirely. The attorney thinks there’s little chance that the judge will change her ruling, as she was previously reluctant to make it more specific.

@ Newshounds News™
Source:  Coinpedia

~~~~~~~~~

SOUTH CAROLINA DISMISSES ITS STAKING LAWSUIT AGAINST COINBASE, JOINING VERMONT

South Carolina has dismissed its lawsuit against Coinbase related to its staking services — joining Vermont in a move described by the firm as a victory for American consumers.

South Carolina has become the latest US state to dismiss its lawsuit against crypto exchange Coinbase over its staking services, which had accused the crypto exchange of offering unregistered securities.

The lawsuit was officially dismissed in a joint stipulation between the crypto exchange and the South Carolina Attorney General’s securities division on March 27.

“South Carolina just joined Vermont to dismiss its unfounded staking lawsuit against Coinbase,” the firm’s chief legal officer, Paul Grewal, said in a March 27 X post.

“This is not just a victory for us, but for American consumers and we hope it's a sign of things to come in the few states left that restrict staking.”

South Carolina and Vermont were two of 10 US states that took legal action against Coinbase's staking services on June 6, 2023 — the same day that the federal securities regulator filed its lawsuit against the crypto exchange.

The Securities and Exchange Commission officially dismissed that lawsuit on Feb. 27, 2025.

The other eight US states that filed enforcement action similar to South Carolina were Alabama, California, Illinois, Kentucky, Maryland, New Jersey, Washington and Wisconsin.

Grewal said he hoped to see other states follow suit and that South Carolina residents lost an estimated $2 million in staking rewards as a result of the lawsuit.

“The 52 million Americans who own crypto deserve commonsense consumer protections and clear rules,” he said. “We applaud South Carolina for standing up for justice and hope the remaining states with bans on staking will take notice.”

South Carolina introduces Bitcoin reserve bill

Meanwhile, a state lawmaker has just introduced the “Strategic Digital Assets Reserve Act of South Carolina” on March 27, which could see the state treasurer allocate up to 10% of certain state funds to cryptocurrencies such as Bitcoin.

Unlike most US state crypto reserve bills, South Carolina’s House Bill 4256, introduced by Rep. Jordan Pace, mentioned Bitcoin on several occasions for the Strategic Digital Assets Reserve that the bill seeks to establish.

The bill allows South Carolina’s treasurer, currently Curtis Loftis, to establish a Bitcoin reserve that exceeds no more than 1 million Bitcoin — a high ceiling that the US federal government is also looking to reach or exceed with its recently established Strategic Bitcoin Reserve.

The treasurer would be able to add Bitcoin to South Carolina’s General Fund, the Budget Stabilization Reserve Fund any other investment fund that they manage.

While no mention of stablecoins, non-fungible tokens, Ether or any other crypto tokens was made, the House bill said the Strategic Digital Assets Reserve wouldn’t be limited to Bitcoin.

According to Bitcoin Law, 42 Bitcoin reserve bills have been introduced at the state level in 19 states, and 36 of those 42 bills remain live.

Earlier this month, US President Donald Trump signed an executive order to create a Strategic Bitcoin Reserve and a Digital Asset Stockpile, both of which will initially use cryptocurrency forfeited in government criminal cases.

@ Newshounds News™
Source:  Cointelegraph

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Delete Your Credit Card Info From Your Browser Right Now Before It's Too Late

I'm Begging You To Delete Your Credit Card Info From Your Browser Right Now Before It's Too Late

Ashley Broadwater  Wed, March 26, 2025  BuzzFeed

Whether you’re ordering dinner from Uber Eats or buying that bestselling embarrassing product you’re too humiliated to get in the store, many of us purchase things online. It’s simply too easy, the convenience too great.

Eventually, the moment comes when the app or website asks for payment information. Unless you have your card memorized (no shame), you may have to dig through your wallet and meticulously type in each random number.

Or you may already have that information saved on your laptop, tablet or phone. Again, why say no to such ease and convenience when it’s available?

Unfortunately, this common timesaving tool is a major no-no, according to cybersecurity experts. They have several concerns.

“Storing your credit card information in your browser might seem convenient, but it exposes you to a number of risks if your device is breached,” said Melissa O’Leary, a chief strategy officer at Fortalice Solutions specializing in impersonation, fraud and cyber scams. “Your saved payment details will be an easy target for cybercriminals to steal.”

Ahead, O’Leary, a former chief adviser to the director of the Office of Administration at the White House, and other experts explain how people can steal your card information, how you can protect yourself and how to delete that data.

The Many Ways Scammers Can Steal Your Card Information

Unfortunately, if you store your financial info, your credit or debit card numbers can be stolen in more ways than you realize. Here are some of the most common scenarios.

They steal your phone, computer or laptop.

No matter how much you keep an eye on your valuables, they can still go missing, unfortunately — and that’s an easy way for people to steal your saved information.

“If an attacker gets access to your computer, they don’t need to be a criminal mastermind to steal your payment details,” said Zulfikar Ramzan, a cybersecurity expert and chief technology officer at Point Wild.

They access your info through public Wi-Fi.

TO READ MORE:  https://www.yahoo.com/tech/articles/experts-warning-against-one-online-023102271.html

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

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

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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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