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

Good Evening Dinar Recaps,

MASTERCARD WORKING ON BLOCKCHAIN TO CONNECT TRADFI AND CRYPTO: REPORT

Mastercard is developing a blockchain-powered Multi-Token Network to connect traditional financial institutions with the digital asset space.

The initiative, led by Raj Dhamodharan, Mastercard’s executive vice president of blockchain and digital assets, aims to provide a compliant, user-friendly experience for moving digital assets, similar to Venmo or Zelle, according to Business Insider

Mastercard is positioning itself as a key infrastructure provider in the growing blockchain ecosystem. By integrating its vast payment network with blockchain technology, the company seeks to enable seamless transactions between fiat and crypto markets.

Dhamodharan highlighted that financial institutions are increasingly interested in blockchain due to its potential to create new business models.

Mastercard partnerships

The network has already secured partnerships with JPMorgan and Standard Chartered, focusing on cross-border payments, tokenized deposits, and carbon credit transactions.

Mastercard has also introduced over 100 crypto-focused card programs worldwide, allowing its 3.5 billion cardholders to interact with digital assets.

Since 2015, Mastercard has filed over 250 blockchain-related patents and backed 43 startups in the sector. Recent collaborations include a November 2024 integration with JPMorgan to improve cross-border settlements and a February 2025 partnership with Ondo Finance to bring institutional financial assets on-chain.

Mastercard’s blockchain expansion comes as U.S. regulators provide more clarity on digital assets, encouraging traditional finance firms to engage with crypto. Dhamodharan believes the company is well-positioned to capitalize on this momentum, leveraging its scale to drive broader blockchain adoption.

@ Newshounds News™
Source:  Crypto News

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UK DIGITAL ASSET EXCHANGE ARCHAX EXPANDS TO US WITH ACQUISITION

UK digital asset exchange Archax has acquired Globacap Private Markets Inc. (Globacap PMI) a US regulated broker dealer and alternative trading system (ATS). It bought the US company from fellow British startup Globacap which provides workflow solutions for private markets and is also active in the digital assets sector.

"The acquisition of Globacap PMI in the US builds on the strong partnership we already have with them in the UK, and is a part of that global strategy," said Graham Rodford, CEO and co-founder of Archax.

“In particular, we want to help support institutional market participants transition from traditional to digital assets and give them the regulated tools and services they need to do that. The US is an enormous and important global market – and with the recent change of government and new, clearer and more open regulated landscape, it is important for firms in our space to have a clear US strategy – and this transaction gives us just that.”

Archax has a multilateral trading facility (MTF) license in the UK and recently acquired a Spanish broker to give it a footprint in the EU. It trades both cryptocurrencies and tokenized securities, targeting institutions. It grabbed headlines when it revealed the big UK asset manager abrdn as an investor in 2022.

To date its tokenization efforts has especially focused on funds, but also bonds and carbon credits. In January it announced plans to tokenize existing equities and government debt so they are usable as DLT-based collateral.

@ Newshounds News™
Source:  Ledger Insights

~~~~~~~~~

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Iraq Economic News and Points to Ponder Tuesday Afternoon 4-1-25

Oil Prices Fall Due To Trade War Fears

Economy | 11:15 - 01/04/2025  Mawazine News – Baghdad   Oil prices fell slightly on Tuesday, as concerns about the impact of the trade war on global growth outweighed worries about supply disruptions from U.S. President Donald Trump's threats to impose secondary tariffs on Russian crude and to bomb Iran. Brent crude futures were down 10 cents, or 0.1 percent, at $74.67 a barrel by 00:13 GMT.

U.S. West Texas Intermediate (WTI) crude futures fell 11 cents, or 0.1 percent, to settle at $71.37 a barrel, after hitting a five-week high the previous day. Slowing global growth is expected to dampen fuel demand, which could offset any supply losses caused by Trump's threats to bomb Iran and impose secondary tariffs on buyers of Russian oil. After news of Trump's threats initially sent prices higher on Monday, traders said they viewed the president's warnings to Russia, at least, as a bluff.

Trump told NBC News on Sunday that he was very angry with Russian President Vladimir Putin and would impose secondary tariffs of 25 percent to 50 percent on buyers of Russian oil. Moscow is trying to derail efforts to end the war in Ukraine. Imposing tariffs on oil buyers from Russia, the world's second-largest oil exporter, would disrupt global supplies and harm Moscow's largest customers, China and India. Trump has also threatened Iran with similar tariffs and bombing if Tehran does not reach an agreement with the White House on its nuclear program.
https://www.mawazin.net/Details.aspx?jimare=260471

Al-Fartousi: The Projects Launched By The Prime Minister In Maysan Will Be Completed By The End Of This Year

Maysan Governorate  Reconstruction and construction   Economy News – Baghdad  Maysan Governor Habib Dhaher al-Fartousi confirmed on Tuesday that the projects launched by Prime Minister Mohammed Shia al-Sudani in Maysan province will be completed by the end of this year.

Al-Fartousi said, in a statement reported by the official news agency, and seen by "Al-Eqtisad News," that "collecting the projects announced by the Prime Minister, including the Maysan oil refinery and the refinery's additional points amounting to 70,000 barrels per day, will be completed before the end of this year."

He added that "among the projects included in the 2025 budget is the expansion project for the Amara-Baghdad road, noting that "the Directorate of Roads and Bridges in the Ministry of Construction, Housing and Public Municipalities informed the governorate that this project was included in the current year's budget."

Prime Minister Mohammed Shia Al-Sudani visited Maysan Governorate and launched several projects, including the implementation works for the Maysan Refinery Development Project, expanding its refining capacity from 40,000 to 110,000 barrels/day,

and the inauguration of the (Greater Amara Unified Water) Project with a capacity of 16,000 cubic meters/hour, as well as the inauguration of the (Martyr Hussein Attia) bridges and tunnel project in Maysan Governorate, and the launch of the implementation works for the College of Medicine project/Maysan University,

 in addition to launching the implementation works for two rehabilitation projects: the (Amara-Al-Mashrah-Ghazaila-Al-Shaib) road, with a concrete bridge, and the (Amara-Al-Bateera-Al-Fajr) road, in addition to the inauguration of the Maysan Governorate Traffic Directorate building. https://economy-news.net/content.php?id=53989

Najaf: New Industrial Projects To Boost Investment

Money and Business  Economy News – Baghdad  Najaf's Deputy Governor, Karar Mahbouba, confirmed on Tuesday that a project to build state-of-the-art grain storage facilities to attract investment is imminent. He also indicated that the province is in the process of establishing an integrated industrial city that keeps pace with global modernity.

Deputy Governor of Najaf, Karar Mahbouba, said in a statement reported by the official news agency and reviewed by Al-Eqtisad News, that "the local government in Najaf Governorate is working to establish an integrated industrial city with multiple components and developments that keep pace with global modernity."

Regarding grain stores, he indicated that "a committee has been formed in the local government of Najaf Governorate, headed by him, with the aim of establishing modern and advanced warehouses to attract capital owners in Najaf and other governorates."

He explained that "the governorate suffers from the presence of random warehouses near residential areas, which has led to population migration towards them, which is inappropriate. Therefore, we resorted to establishing regular warehouses."

The deputy governor added that "the committee members reviewed some successful experiences, especially in northern Iraq, and these will be utilized in Najaf Governorate," stressing that "significant progress has been made in the project, and sufficient space has been allocated for it. It is expected that the major project, which includes many developments, will be announced in the coming months."

He pointed out that "the project has been approved by the relevant government agencies and departments, the necessary land has been allocated, and the start of project implementation is expected to be announced soon."   https://economy-news.net/content.php?id=53998

Gold At Record High On US Tariff Fears

Tuesday, April 1, 2025 10:53 | Economic Number of reads: 257   Baghdad/ NINA /Gold prices reached an unprecedented level on Tuesday, as demand for safe-haven assets increased due to concerns that US tariffs could increase inflationary pressures and hinder economic growth.

Spot gold rose 0.6 percent to $3,143.05 an ounce, after hitting an all-time high of $3,148.88 earlier in the session.

U.S. gold futures rose 0.6 percent to $3,169.50, with gold prices recording their best quarterly performance since 1986.

Among other precious metals, spot silver fell 0.1 percent to $34.04 an ounce, platinum fell 0.1 percent to $991.41, and palladium rose 0.8 percent to $989.19.

U.S. President Donald Trump pledged to announce a broad tariff plan on Wednesday, imposing a series of new tariffs aimed at protecting U.S. industries and reducing the trade deficit.

Gold prices surpassed $3,100 an ounce for the first time on Monday, with a new wave of investments in safe-haven assets amid concerns about US tariffs and a potential economic slowdown. /End

https://ninanews.com/Website/News/Details?key=1195194

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

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

Good Morning Dinar Recaps,

BIG NEWS: SEC MOVES FORWARD WITH $150 MILLION LAWSUIT AGAINST ELON MUSK

According to ABC News, the Securities and Exchange Commission has decided to continue it’s $150 Million lawsuit against Elon Musk. As stated in a court filing on Monday, the leader of the Department of Government Efficiency has agreed to address the lawsuit alleging that he misled investors during his purchase of millions of dollars in Twitter stock in 2022, before acquiring the company.

The SEC, under former chairman Gary Gensler,  had filed a lawsuit in January 2025, accusing him of securities fraud related to his $44 billion takeover of Twitter, now known as X. The lawsuit alleges that Musk failed to timely disclose his ownership stake in Twitter before completing the purchase in 2022.

According to the SEC, Musk’s failure to report his stake—which exceeded 5% of the company—before the March 24, 2022 deadline allowed him to undervalue the shares he acquired. ‘

Regulators claim this non-compliance resulted in Musk paying at least $150 million less than he should have for the shares purchased after his disclosure was due. The lawsuit states that Musk filed his ownership report after the deadline, causing Twitter’s stock price to surge 27% following the filing.

Musk’s attorney, Alex Spiro, dismissed the lawsuit, stating that Musk has “done nothing wrong” and describing the legal action as a “sham.” This legal battle comes after years of scrutiny surrounding Musk’s Twitter acquisition. In 2023, the SEC also sued Musk for refusing to testify about the deal, claiming he “abruptly notified SEC staff” just two days before a scheduled appearance, citing “spurious objections.”

@ Newshounds News™
Source:  Coinpedia

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KENTUCKY JOINS SOUTH CAROLINA, VERMONT IN DISMISSING COINBASE LAWSUITS

Kentucky has dismissed its Coinbase staking suit days after passing pro-crypto legislation, following in the footsteps of other states.

Just days after South Carolina backed off its staking lawsuit against crypto exchange Coinbase, Kentucky has become the third state in as many weeks to fold, following Vermont’s exit last month.

The Kentucky Department of Financial Institutions filed a joint stipulation of dismissal on Monday, effectively ending its legal action over Coinbase’s staking services, which were previously accused of violating state securities laws.

“Congress needs to end this litigation-driven, state-by-state approach with a federal market structure law ASAP,” Coinbase Chief Legal Officer Paul Grewal posted on X following the lawsuit dismissal.

The case against Coinbase was originally part of a multistate effort launched the same day the U.S. Securities and Exchange Commission (SEC) sued the exchange in June 2023.

"One by one, in just a few short months, states across the country and party lines are standing up for consumers and sound law," Paul Grewal, Coinbase's Chief Legal Officer, told Decrypt. "Kentucky’s dismissal of its case against Coinbase, in rapid succession after Vermont and South Carolina, is a win for customers, innovation, and economic opportunity."

State regulators maintained that Coinbase’s staking program amounted to a securities offering that lacked the necessary registration under state laws.

Coinbase was essentially acting like an investment vehicle without proper registration or investor disclosures by pooling and delegating customer tokens in proof-of-stake networks, the regulators said.

Vermont exited the case on March 14, citing the dismissal of the federal lawsuit and the potential for clearer national regulation.

South Carolina followed days later, with Grewal noting its residents lost an estimated $2 million in staking rewards due to the ban.

The latest dismissal continues a trend of state-level enforcement pullbacks following the SEC’s own February decision to dismiss its case against Coinbase.

Combined with new federal guidance under SEC Acting Chair Mark Uyeda, who has taken a more conciliatory stance toward crypto, these developments point to shifting regulatory winds in favor of the crypto industry.

“This is not just a victory for us, but for American consumers,” Grewal said last week after South Carolina dropped its lawsuit. “We hope it's a sign of things to come in the few states left that restrict staking.”

As of now, seven states—California, New Jersey, Illinois, Washington, Alabama, Maryland, and Wisconsin—still have pending enforcement actions against Coinbase.

@ Newshounds News™
Source:  Decrypt

~~~~~~~~~

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“Tidbits From TNT” Tuesday Morning 4-1-2025

TNT:

Tishwash:  Iraq's domestic debt is expected to rise to 81 trillion dinars in 2024.

The Central Bank of Iraq announced on Monday an increase in domestic debt, while also noting a decline in foreign reserves for 2024.

The bank stated in its report on monetary and financial indicators in Iraq, which was reviewed by the Iraq Observer, that "the Central Bank's net foreign reserves for 2024 amounted to 130.81 trillion dinars, a decrease of 10.18% compared to the same period in 2023, when they amounted to 145.64 trillion dinars."

He added, "The reason for the decline in foreign reserves is the rise in domestic public debt, which is needed to cover the real deficit in the state's general budget."

The report indicated that "Iraq's domestic public debt increased by 17.70% to reach 83.05 trillion dinars in 2024, compared to 70.56 trillion dinars in 2023."  link

LouNDebNC: You should go to the link at the bottom, there are charts that make it easier to understand

 Status of US Dollar as Global Reserve Currency: Central Banks Diversify into Other Currencies and Gold

The surge of the “nontraditional reserve currencies.”

The status of the US dollar as the dominant global reserve currency has helped the US fund its twin deficits, and thereby has enabled them: the huge fiscal deficit every year and the massive trade deficit every year. The reserve currency status comes from other central banks (not the Fed) having purchased trillions of USD-denominated assets such as Treasury securities, other government securities, corporate bonds, and even stocks.

The dollar status as the dominant reserve currency has been crucial for the US, and as that dominance declines ever so slowly, risks pile up ever so slowly.

The US dollar lost further ground as top global reserve currency in 2024, according to the IMF’s COFER data released today. Total holdings of USD-denominated securities by other central banks (not the Fed) fell by $59 billion to $6.63 trillion at the end of 2024, from $6.69 trillion at the end of 2023.

And the dollar’s share declined to 57.8% of total allocated exchange reserves at the end of 2024, the lowest since 1994, down by 7.3 percentage points in 10 years, as central banks have been diversifying their holdings for years to assets denominated in currencies other than the dollar, and into gold.

The dollar had already experienced a huge loss of global confidence before: Its share plunged from 85% in 1977 to a share of 46% in 1991, after inflation had exploded in the US in the 1970s and early 1980s. But by the 1990s, as inflation had been brought down and mostly stayed down, central banks loaded up on USD-assets again, and the dollar regained share as a reserve currency until the euro became a full-fledged currency.

USD-denominated foreign exchange reserves include US Treasury securities, US agency securities, US MBS, US corporate bonds, US stocks, and other USD-denominated assets held by central banks other than the Fed.

The major reserve currencies.

Central banks holdings of foreign exchange reserves denominated in all currencies, including in USD, edged up in 2024 to $12.36 trillion (from $12.35 trillion at the end of 2023).

Excluded from the total are any central bank’s assets denominated in its own currency, such as the Fed’s holdings of Treasury securities and MBS, the ECB’s holdings of euro-denominated bonds, and the Bank of Japan’s holdings of yen-denominated assets.

The USD is not losing share to the euro. The euro has been the #2 global reserve currency, with holdings at $2.27 trillion at the end of 2024. Its share has been around 20% for years, with a low of 19.1% in 2016 and a high of 21.3% in 2020. In Q4, the euro’s share was 19.8% (blue in the chart below).

So over the years, the USD has not lost share to the euro; it lost share to other reserve currencies, including “nontraditional reserve currencies,” as the IMF calls them. The colorful tangle at the bottom of the chart represents the largest of these other reserve currencies. More on those in a moment.

The surge of the “nontraditional reserve currencies.”

Some of these other reserve currencies have been gaining share at the expense of the dollar, especially the currencies in the basket of the “nontraditional reserve currencies,” that the IMF combines into “All others,” whose combined share has been surging since 2020 (red in the chart below).

But the Chinese renminbi has lost share. China is the second largest economy in the world, but its currency, the renminbi, plays only a small role as a reserve currency. And it has lost ground against the USD and other currencies since 2022. Central banks have not been enamored with RMB-denominated assets due to China’s capital controls, the RMB’s convertibility issues, and other complexities (yellow line).

Note the surge of the nontraditional reserve currencies combined in the “all other currencies” group (red).

Japanese yen, 5.8% (YEN, purple).

British pound, 4.7% (GBP, light blue).

“All other currencies,” 4.6% (red).

Canadian dollar, 2.8% (dotted green).

Chinese renminbi, 2.2% (yellow).

Australian dollar, 2.1% (black dotted).

Swiss franc, 0.2% (black).

The other diversification: gold.

Gold bullion is not a “foreign exchange reserve” asset of central banks and  is not included in the data above. Gold is a “reserve asset” not involving  foreign exchange

 After four decades of unloading their gold holdings, central banks started re-adding gold about 20 years ago.

The top four holders have not changed their gold holdings in at least 20 years (based on IMF data released by the World Gold Council):

LINK to rest of story and charts

Mot..... Just Love Learning on the Internet!! -- Why Heres another!! 

Mot: Sorry!!! ------- April fools is ~~~~ canceled

Mot: ... donuts... oooops

MilitiaMan & Crew Big Picture-Iraq Prime Minister-Financial Technology-Future Banking

MilitiaMan & Crew Big Picture-Iraq Prime Minister-Financial Technology-Future Banking

3-31-2025

The Crew:  Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=PQTFmAmAfnc

Seeds of Wisdom RV and Economic Updates Monday Evening 3-31-25

Good Evening Dinar Recaps,

TRUMP'S CRYPTO DEALINGS ARE MAKING REGULATION 'MORE COMPLICATED': HOUSE FINANCIAL SERVICES CHAIR

Rep. French Hill offered a rare rebuke of the president’s crypto dealings from within his own party, as multiple crypto bills make their way through Congress.

House Financial Services Committee Chair French Hill (R-AR) said Monday that the personal cryptocurrency dealings of President Donald Trump and his family have made drafting legislation for the novel sector “more complicated,” in a rare rebuke of the president’s personal activities by a key member of congressional Republican leadership.

Hill specifically named the president’s meme coin and stablecoin projects as two endeavors that have negatively impacted the work of lawmakers racing to create rules for the digital assets industry.  

“They have made our work more complicated,” Hill told reporters Monday, in reference to those projects.

Since returning to power, Trump and his inner circle have rapidly expanded their crypto portfolios at the same time that the president is determining policies with direct impact on those same assets and sectors.

 In recent months, Trump and business partners have launched a Solana meme coin and an Ethereum decentralized finance platform called World Liberty Financial, which recently announced its own stablecoin.

Meme coins are speculative crypto assets that derive their value from cultural significance—and which the SEC recently likened to “collectibles”—while stablecoins are digital assets designed to keep a steady peg to the U.S. dollar.

Trump and his family have already netted hundreds of millions of dollars from such endeavors; unrealized earnings from the same projects number in the billions.

Trump’s existing businesses have also aggressively expanded their exposure to crypto in the same period. Last week, the company that runs the president’s Truth Social media platform announced a partnership with Crypto.com to offer crypto ETFs.

Just this morning, the president’s son, Eric and Don Jr, inked a deal to launch their own Bitcoin mining venture.

At the same time, the president has signed multiple executive orders with direct impact on the crypto industry. Further, White House officials are currently, at his direction, working with Republicans in Congress to help shape key pieces of legislation that will create, for the first time, an American crypto regulatory regime.

Earlier this month, the president’s AI and crypto czar, David Sacks, dismissed the president’s personal crypto endeavors as “irrelevant” to industry regulation.

But it appears patience among congressional Republicans over the scope of those lucrative schemes may be waning. The House Financial Services Committee is set to mark up its version of proposed stablecoin legislation, the STABLE Act, on Wednesday, and will soon consider a newer version of a market structure bill, according to comments made by Chair Hill Monday.

A parallel stablecoin bill is also currently making its way through the Senate. Such bills, if passed into law, would for the first time offer a clear path to legal certainty for a variety of crypto projects and companies, based on their compliance with new rules currently being ironed out. 

Their passage is anticipated to bring with it a wave of investment and support for the crypto industry from traditional finance institutions that until now have been waiting on the sidelines.

Though those bills possess bipartisan support, Trump’s personal business dealings have offered resistant Democrats a convenient means to protest their passage.

Last week, Sen. Elizabeth Warren (D-MA) denounced the Trump-backed World Liberty Financial stablecoin, USD1, as a “grift,” and tied the project to pending crypto legislation.

“Congress should step up and fix the current stablecoin bill moving through the Senate that will make it easier for Trump—and Elon Musk—to take control of your money,” she said.

@ Newshounds News™
Source:  Decrypt

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BRICS NATION TURNS TO NORTH KOREA: COULD MEMBERSHIP BE NEARING?

For the first three months of the year, the West and the Global South have been engaged in a notable faceoff. Moreover, with a variety of factors playing into this growing tension, one BRICS nation has turned to North Korea as an unlikely ally as a membership for the country could be nearing.

The alliance has been confronted with an increasingly aggressive US President, Donald Trump. Specifically, Trump has threatened 150% tariffs on the countries for their part in global de-dollarization efforts. Now, another aspect of those disagreements could see North Korea become an unlikely ally for the alliance.

BRICS Look to North Korea as Alliance Could Be Forming

The BRICS bloc and the United States have created the basis for a potential trade war in 2025. China has sought to issue reciprocal tariffs as the alliance is caught in the crossfire of the US administration’s aggressive economic policy. Moreover, the bloc has turned to Russia, threatening increased sanctions as a means to fast-track an end to the Ukraine War.

Now, those talks may be continuing to brew a rather surprising allegiance on the global scale. Specifically, the BRICS bloc has sought out help from North Korea, as rumors of potential membership continue to surface. Indeed, Russia has gone to the nation for help. It is seeking an end to the ongoing Ukraine war on its own terms.

Russian President Vladimir Putin recently suggested that Ukraine be placed under a “temporary administration,” according to reports. Moreover, he noted this would be done “under the auspices of the UN, the United States, European countries, and our partners.”

Moreover, Putin called on specific countries to be involved in the ongoing talks for peace.

 “This is not only the United States but also the People’s Republic of China, India, Brazil, and South Africa—all BRICS countries,” he said. Moreover, he also noted that “the Democratic People’s Republic of Korea” would be included.

Putin’s relationship with the nation has been well documented. Additionally, in his inclusion of the nation, he used its official name. The move could be seen as an attempt to increase strategic cooperation. For Moscow, that may include seeking BRICS membership. However, there is still the belief that it would have a hard time getting full support from other bloc participants.

@ Newshounds News™
Source:  Watcher Guru

~~~~~~~~~

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Iraq Economic News and Points to Ponder Monday Afternoon 3-31-25

Chairman Of The Ports Authority: Revenues Exceeded 400 Billion Dinars In Two Months

Money and Business  Economy News – Baghdad  The head of the Border Ports Authority, Major General Omar Al-Waili, confirmed the completion of the electronic linking process for all land, sea and air border crossings, revealing that revenues exceeding 400 billion dinars were achieved within two months.

Al-Waili said in a statement reported by the official news agency and reviewed by Al-Eqtisad News, "The authority has completed the process of linking all land, sea, and air border crossings to a unified central operations room, whereby control operations are now managed directly and systematically via an electronic automation system."

He added, "The electronic link covers various regulatory areas, including auditing pre-inspection of goods, auditing the exemption program for imports into the country, and monitoring receipt audits."

Al-Waili explained that "preliminary statistics for the months of January and February of this year, 2025, showed revenues exceeding 400 billion Iraqi dinars," noting that "the authority seeks to double these revenues as part of its strategic plans to bolster the state's resources and control ports more effectively."   https://economy-news.net/content.php?id=53975

Al-Sudani Confirms That The Refineries' Refining Capacity Will Soon Reach 542,000 Barrels Per Day 

energy  Economy News – Baghdad  Baghdad – INA  Prime Minister Mohammed Shia al-Sudani confirmed on Sunday that  refineries' refining capacity will soon reach 1,542,000 barrels per day.
 
The Prime Minister's media office said in a statement seen by Al-Eqtisad News that
 
"Prime Minister Mohammed Shia al-Sudani launched the implementation work on the
 
     Maysan refinery development project, and the
     expansion of its refining capacity from 40,000 barrels to 110,000 barrels per day,
 
during his visit to the governorate, which he arrived at this afternoon." Al-Sudani explained that
 
"Eid this year will be marked by hard work, which will continue across various service and economic sectors." He emphasized that
 
"the Maysan refinery development and expansion project has been one of the stalled projects since 2014, when the government embarked on it as part of its approach to completing all stalled and suspended projects.
 
It will be implemented
 
     through national effort and national cadres, and
     in a record period of 6-8 months."
 
The Prime Minister pointed to the Baiji refinery expansion project, which
 
     added 70,000 barrels per day to refining capacity and
     will be operational within two months.

This project was also completed through national efforts and local expertise,
 
     raising the refining capacity of all Iraqi refineries to 542,000 barrels per day, a
     record level achieved for the first time in the Iraqi oil industry.  He pointed out that
 
"Maysan, which stood up to dictatorship and contributed to building the new Iraq, deserves this attention and care in every respect.
 
The project is part of the government's drive to
 
     achieve self-sufficiency in petroleum derivatives and
     convert 40% of exported oil into petroleum products,
 
due to the significant revenues it generates." He added,
 
"We talked about a 10-year period to achieve this goal, but
 
these projects will account for 40% of our oil exports by 2030.
 
With the Cabinet's approval to resume work on the Maysan refinery project,
 
we are looking at an industrial oil city, qualified to launch petrochemical and fertilizer projects.
 
These projects will provide thousands of direct and indirect job opportunities." The Prime Minister emphasized that
 
"the growth in these projects and programs represents the true reform of the Iraqi economy, which suffers from its
unilateral dependence on oil exports."
 
According to the Prime Minister's Media Office, the
 
Maysan Refinery Development Project, in its two phases, includes the
 
     construction of a new, world-class unit with a capacity of 70,000 barrels per day,
 
     which will contribute to increasing the refinery's capacity.

It will also include the construction of complementary units, including a
     hydrogenation and gasoline improvement unit, an
     FCC unit, a
     gas oil unit, and a
     kerosene unit, in addition to
     environmentally friendly service units.

The project will work to secure the needs of
 
     Maysan Governorate and
     neighboring governorates
 
for petroleum derivatives.
 
https://economy-news.net/content.php?id=53952 

Chairman Of The Ports Authority: Revenues Exceeded 400 Billion Dinars In Two Months

Money and Business   Economy News – Baghdad   The head of the Border Ports Authority, Major General Omar Al-Waili, confirmed the completion of the electronic linking process for all land, sea and air border crossings, revealing that revenues exceeding 400 billion dinars were achieved within two months.

Al-Waili said in a statement reported by the official news agency and reviewed by Al-Eqtisad News, "The authority has completed the process of linking all land, sea, and air border crossings to a unified central operations room, whereby control operations are now managed directly and systematically via an electronic automation system."

He added, "The electronic link covers various regulatory areas, including auditing pre-inspection of goods, auditing the exemption program for imports into the country, and monitoring receipt audits."

Al-Waili explained that "preliminary statistics for the months of January and February of this year, 2025, showed revenues exceeding 400 billion Iraqi dinars," noting that "the authority seeks to double these revenues as part of its strategic plans to bolster the state's resources and control ports more effectively."   https://economy-news.net/content.php?id=53975

Iraqi Oil Maintains Its Rise In The Global Market

Economy | 03/31/2025   Mawazine News – Baghdad  Basra Heavy and Medium crude oil prices rose during weekly trading on the global market.

Basra Medium crude reached $74.38 per barrel, while Heavy crude reached $71.33 per barrel.

Data showed a slight decline in global crude oil prices, with British Brent crude reaching $73.39 per barrel, while US West Texas Intermediate crude reached $69.01 per barrel. https://www.mawazin.net/Details.aspx?jimare=260454

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

Seeds of Wisdom RV and Economic Updates Monday Afternoon 3-31-25

Good Afternoon Dinar Recaps,

STABLECOINS, TOKENIZED ASSETS GAIN AS TRUMP TARIFFS LOOM

Crypto investors shift into stablecoins and real-world assets as Trump’s April 2 trade tariffs spark volatility and macroeconomic uncertainty fears.

Cryptocurrency investors are increasingly moving capital into stablecoins and tokenized real-world assets (RWAs) in a bid to avoid volatility ahead of US President Donald Trump’s widely anticipated tariff announcement on April 2.

Increasingly, more capital is flowing into stablecoins and the real-world asset (RWA) tokenization sector, which refers to financial products and tangible assets such as real estate and fine art minted on the blockchain.

“Stablecoins and RWAs continue to see steady inflows of capital as safe havens in the current uncertain market,” crypto intelligence platform IntoTheBlock wrote in a March 31 X post.

“However, because these assets reside on-chain, even slight shifts in sentiment can trigger significant price movements, driven by the lower barriers to reallocating capital in real time,” the firm noted.

The flight to safety is mainly attributed to geopolitical tensions and global trade concerns, according to Juan Pellicer, senior research analyst at IntoTheBlock:

“Many investors were expecting economic tailwinds following Trump's inauguration as president, but increased geopolitical tensions, tariffs and general political uncertainty are making investors more cautious.”

“This is not unreasonable, as even though global growth forecasts remain positive, growth expectations have decreased globally in recent months,” he added.

The prospect of a global trade war has heightened inflation-related concerns, causing a significant decline in both cryptocurrency and traditional equity markets.

Bitcoin has fallen 19% and the S&P 500 (SPX) index has fallen over 7% in the two months since Trump announced import tariffs on Chinese goods on Jan. 20, the day of his inauguration as president.

The April 2 announcement is expected to detail reciprocal trade tariffs targeting top US trading partners. The measures aim to reduce the country’s estimated $1.2 trillion goods trade deficit and boost domestic manufacturing.

Investor sentiment pressured by April 2 Trump tariff announcement

Global tariff fears and uncertainty around the upcoming announcement continue to pressure investor sentiment in global markets.

“Risk appetite remains muted amid tariff threats from President Trump and ongoing macro uncertainty,” Iliya Kalchev, dispatch analyst at digital asset investment platform Nexo, told Cointelegraph.

Meanwhile, RWAs reached a new cumulative all-time high of over $17 billion on Feb. 3, and are currently less than 0.5% away from surpassing the $20 billion milestone, according to data from RWA.xyz.

Some industry watchers said that Bitcoin’s lack of upside momentum may drive RWAs to a $50 billion all-time high before the end of 2025, as their increased liquidity will help RWAs attract a significant share of the $450 trillion global asset market.

@ Newshounds News™
Source:  Cointelegraph

~~~~~~~~~

RHODE ISLAND BILL WOULD ALLOW STATE RESIDENTS SPEND $10,000 MONTHLY IN BITCOIN TAX FREE

A bill introduced to the Rhode Island Senate would enable the state’s residents to spend or sell just under $1,000 in bitcoin 10 times per month without incurring state capital gains taxes.

Bill S. 0451, which was introduced to the Rhode Island Senate last month, permits the state’s residents and businesses to make up to 10 payments in bitcoin valued at less than $1,000 per month (or sell the equivalent amount) without being subject to state capital gains taxes.

The bill is an amendment to existing state income tax laws, and the exact language in the proposed legislation is as follows:

“Any sale of [b]itcoin by an individual or business in Rhode Island shall be exempt from state taxation if the total value of sales is less than one thousand dollars ($1,000) per diem. The limit of the state tax exempt [b]itcoin transaction shall not exceed ten (10) sales per a thirty (30) day cycle.”

And the bill defines a “sale of [b]itcoin” as “any transaction in which [b]itcoin is sold or exchanged for another form of value, such as fiat currency or other physical or digital assets.”

The bill also clarifies that this exemption only applies at the state level and that it doesn’t affect federal tax obligations.

Under the bill, individuals and businesses who engage with these types of tax-exempt bitcoin transactions are responsible for keeping records of these transactions, including the total value of sales per day, and should be prepared to provide these records to the Rhode Island’s department of revenue for audit or compliance purposes.

In a slide deck prepared by the Rhode Island Blockchain Council that was shared with Bitcoin Magazine, Chris Perrotta, Chairman of the Council, wrote that the passing of Bill S. 0451 would help to reduce friction for digital asset payments.

He stated that “current tax implications of spending BTC hamper its utility for Rhode Island citizens and stifle economic activity.”

Perrotta also noted that the passing of this bill would stimulate blockchain-based economic activity in the state, making Rhode Island one of the states at the forefront of this technology.

What is more, he also proposed that small businesses accept bitcoin for products and services as a means to stimulate economic growth.

Thus far, no other U.S. states have introduced comparable bills.

At the federal level, the only bill that has proposed something similar is the Lummis-Gillibrand “Responsible Financial Innovation Act”, which provides a de minimus tax exemption on bitcoin transactions valued up to $200.

@ Newshounds News™
Source:  Bitcoin Magazine

~~~~~~~~~

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When These 4 Things Happen, the Global Monetary Reset Is Complete

When These 4 Things Happen, the Global Monetary Reset Is Complete

Taylor Kenny:  3-30-2025

They won’t hold a press conference to announce the global monetary reset — but it’s already happening.

Four real-time signals are quietly dismantling the financial system as we know it… and almost no one is paying attention.

 If you don’t know what they are, you’re already behind.

 Join Taylor Kenney as she breaks down each signal and what it means for your wealth, your future, and your family.

https://www.youtube.com/watch?v=FeTsmxZ77e4

Iraq Economic News and Points to Ponder Late Sunday PM 3-30-25

“Al-Sudani Congratulates The Iraqi People And The Islamic Nation On The Occasion Of Eid Al-Fitr

Sunday, March 30, 2025 | Politics Number of reads: 153   Baghdad / NINA / Prime Minister Mohammed Shia Al-Sudani congratulated the Iraqi people and the Islamic nation on the occasion of Eid Al-Fitr.

Al-Sudani said in a tweet on the X website: On the occasion of Eid Al-Fitr, we pray to God Almighty to bless its days for our honorable Iraqi people, and for the entire Islamic nation, and to accept our obedience, good deeds and striving to please Him, and to spread peace and security throughout the world.

He added: We renew our commitment to implementing the government program in all its service, social and economic dimensions, and to continue working at all times and circumstances without stopping, and to exert all efforts for reconstruction and development, in accordance with what is required by the supreme interests of our people and the aspirations of all its sons. / End https://ninanews.com/Website/News/Details?Key=1195036

The Central Bank To Nina: We Will Launch A Major Initiative To Finance Industrial Projects
Sunday, March 30, 2025 | Economic Number of reads: 394  Baghdad / NINA / The Central Bank of Iraq announced its intention to launch a major initiative to finance industrial projects in cooperation with the Trade Bank of Iraq and the Industrial Bank.

The Governor of the Central Bank, Ali Al-Alaq, said in a statement to the National Iraqi News Agency ( NINA ), "We are currently making arrangements to finance major industrial projects through coordination between the Trade Bank of Iraq and the Industrial Bank, by taking advantage of the liquidity available at the Trade Bank of Iraq and recycling these funds in the Industrial Bank to launch a major initiative to finance industrial projects in Iraq, which will see the light soon."

He added, "This initiative was recently proposed by the Council of Ministers, within the framework of the government banking sector reform program and government procedures with the Central Bank, indicating that the Council of Ministers agreed to have cooperation between government banks with a financial surplus to finance a package of industrial projects through the Industrial Bank."

He explained that "all other projects are financed according to their sectoral channels, within the general government direction to support industrial, agricultural, housing, education, health, investment and other projects." / End  https://ninanews.com/Website/News/Details?Key=1194954

Iraq's Oil Exports To The US Exceeded Those Of Saudi Arabia Last Week

Sunday, March 30, 2025| Economic Number of reads: 309  Baghdad / NINA / The US Energy Information Administration announced, on Sunday, that Iraq's oil exports to America during the past week amounted to more than 200,000 barrels per day, exceeding Saudi Arabia's exports.

The administration said in a table, "The average US imports of crude oil during the past week from ten major countries amounted to 5.648 million barrels per day, up by 975,000 barrels per day from the previous week, which averaged 4.673 million barrels per day."

It added that "Iraq's oil exports to America rose, reaching an average of 203,000 barrels per day, thus exceeding Saudi Arabia's oil exports to America, which amounted to 144,000 barrels per day."

The administration indicated that "the largest oil revenues to America during the past week came from Canada, followed by Mexico, then Brazil and Venezuela."

According to the table, "the amount of US imports of crude oil continued from Colombia, Saudi Arabia, Ecuador, Libya and Nigeria." / End  https://ninanews.com/Website/News/Details?key=1194895

Oil Prices Fall Below $73 A Barrel

Economy | 30/03/2025  Mawazine News – Baghdad  Oil prices witnessed a significant decline on Sunday in evening trading after 2:00 PM GMT, affected by several pressure factors, most notably escalating concerns about new tariffs imposed by the United States, rising US oil inventories, and OPEC's decision to increase production.

According to market data, Brent crude futures for June 2025 delivery fell by $0.58, or 0.79%, to reach $72.76 per barrel. West Texas Intermediate (WTI) crude futures for June 2025 delivery also fell by $0.56, or 0.80%, to reach $69.36 per barrel.

These declines come after Washington announced the imposition of additional tariffs on energy imports from Canada, Mexico, and China, raising investor concerns about the repercussions of this move on global demand levels.

In the same context, data from the US Energy Information Administration revealed a greater-than-expected rise in US crude oil inventories during the week ending March 7, increasing by 1.4 million barrels to 435.2 million barrels.

OPEC's decision to increase its oil production by 138,000 barrels per day starting next April added further pressure on prices, amid expectations that this will impact market balance in the coming period.https://www.mawazin.net/Details.aspx?jimare=260444

Exchange Rates In Iraq: 148,500 Dinars To $100 

Economy |  03/30/2025  Mawazine News – Baghdad  The US dollar exchange rate against the Iraqi dinar remained volatile at exchange shops and companies in Baghdad.
The selling rate was 148,500 dinars for $100, while the buying rate was 146,500 dinars for $100.

This rise comes amid a relative buying activity and retail activity among citizens in a number of shopping malls coinciding with the advent of Eid al-Fitr.  https://www.mawazin.net/Details.aspx?jimare=260428

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