Goldilocks’ Comments and Global Economic News Saturday 3-23-2024
Good Evening
“On 26 February 2024, the European Council adopted a new regulation, the Instant Payments Regulation. This will make instant payments in euro fully available to consumers and businesses in the EU and in EEA countries.”
While Global Digital Payment Systems are moving to T+1 settlements, Europe is pressing their banking system to move to instant settlements.
What Europe learns from being a first mover on the markets in instance settlements will help them formulate their Global CRYPTO Regulations (MICA).
Our Tokenized Assets are continuing to interface with other Digital Global Assets around the world through Protocol 20. At the same time, we are witnessing the birth of a new regulated payment system moving towards instant payments.
Europe has already confirmed that their new instant payments regulation will go into effect on April 8th, 2024, and Ripple is a part of it.
It was stated in the article that Europe is doing this to create their own financial autonomy. In essence, this move is one that each country will begin taking as they onboard their payment systems into the QFS.
This is why being Basel 3 compliant around the world is so important in creating countries that have their own Sovereignty. Electronic Payments International
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Vietnam Sandbox Announcement:
“In the latest draft, the regulatory sandbox will be developed for three fintech solutions, including credit scoring, open application programming interface (API), and P2P lending.”
We are witnessing Sandboxes popping up everywhere in several countries. The Sandboxes test cryptocurrencies and Stablecoins from around the world.
It is a way for countries to test new Digital Currencies being processed within their new Digital Financial System. Many countries are beginning to test and form regulations for cross-border International trading among countries this year. As these new Digital Payment Systems are tested and approved, the ability to move these particular assets across borders will help in foreign trade and foreign currency exchanges. Vietnam News
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Many countries around the world are currently testing new payment systems with their own Stablecoins. Throughout the year several countries will be exchanging their Stablecoins with one another.
Remember, Stablecoins represent a country’s currencies. These cryptocurrencies will be utilized in trade and cross-border payments.
Once these Stablecoins are fully regulated and given the green light to move forward. The next step will be for them to have a Credit Valuation Adjustment. Dinarland references this as a revaluation.
The Credit Valuation Adjustment is inside the derivative market, and this includes foreign currency.
Hong Kong is pointing to a January the 1st, 2025 date to begin this process of credit valuation adjustment for themselves. This does not mean that other currencies cannot go before this one or have a float leading up to this date ie Nigeria’s currency. It just simply means HK has a tentative date.
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Regulation Asia
CryptoPolitan
Ideas
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Massive price action distortions are beginning to form on the markets.
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Prices of Existing Homes in Germany Tank 14% so far, as ECB-Fueled Housing Bubble Turns into Housing Bust | Wolf Street
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BREAKING: The Automated Market Maker (AMM) is live now! | Twitter
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BOOOOOOOOOM!!!! Ripple partner ACI Worldwide which supports 9 percent of global SWIFT traffic has confirmed that the new Instant Payments Regulation will come into effect on 8 April 2024! Twitter
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HONG KONG—The adoption of new mediums of exchange, including retail Central Bank Digital Currency (CBDC), tokenized deposits and stablecoins, could potentially add an additional HK$160 billion of GDP for Hong Kong by 2032, according to a whitepaper released today. The whitepaper highlights some of the potential benefits for using retail CBDC in Hong Kong (i.e., e-HKD) and identifies requirements to help fully realize them. | BCG
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BlackRock unveils crypto fund first with $5 million minimum. The world’s largest asset manager is extending its interest in crypto with a tokenized fund on Ethereum. | The Street
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Stablecoins have recently achieved a significant milestone, surpassing $150 billion in market capitalization, with daily trading volume reaching $122 billion. This achievement marks a notable resurgence and growth in the stablecoin sector, with implications for the broader cryptocurrency ecosystem. | News BTC
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In the rapidly evolving crypto landscape, the tokenization of real-world assets (RWAs) is emerging as the cutting-edge frontier, captivating investors and industry pioneers alike with its burgeoning potential and surging investments.
What RWA tokenization means is putting traditional assets on a blockchain. This is a way of representing ownership of an asset through a token. The assets involved could be anything from stocks, bonds, gold, and commodities to treasuries, debt, real estate, art, intellectual property, and much more. Securities
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SEC CHAIRMAN GENSLER LEADS CRYPTO OVERSIGHT PUSH WITH $2.6 BILLION BUDGET PROPOSAL | Cryptopolitan
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