Goldilocks’ Global Economic News 5-24-2024
” Chairman of the Securities Commission in Iraq, Faisal Al-Haims, confirmed today, Wednesday, that the authority is studying the possibility of licensing brokerage companies to trade in shares on international stock exchanges.”
Forex is sold “in shares” through exchange-traded products (ETPs) and exchange-traded notes (ETNs).
Licensing brokerage companies to trade on the global exchange, also known as a foreign exchange (forex) market, is a necessary process that allows companies to operate in the market.
As long as global financial standards and International digital norms/regulations are followed, a forex license can be issued by regulatory authorities.
This procedure guarantees a company’s compliance with International regulatory standards. Without a license, a broker’s work is considered illegal.
These procedures will allow the Iraqi Dinar to be bought and sold on Forex when they are done. At the present time, banks are in process of learning how to do foreign currency exchanges through an electronic process.
Now, it makes sense why my friend told me they were doing foreign currency exchange training with every currency except the dinar, but this is about to change with the reclassification of the Iraqi dinar by the end of this month. Economy Gofaizen & Sherle FinJuris
© Goldilocks
~~~~~~~~~
House Passes CBDC Anti-Surveillance State Act | Financial Services Committee
~~~~~~~~~
The Middle East and North Africa Financial Action Task Force (MENAFATF), at its general meeting, held in the Kingdom of Bahrain for the period from 19-23 May 2024, approved the mutual assessment report for the Republic of Iraq, which reflects its great commitment to applying international standards to combat money laundering and the financing of terrorism. | CBI
~~~~~~~~~
“Commissioner Pham Announces CFTC Global Markets Advisory Committee Meeting on June 4”
Time:
* 10am to 3pm
Where:
* CFTC’s New York Regional Office
Who:
*Global Markets Advisory Committee
Agenda:
* To advance three recommendations from the March meeting
Topics:
* Global Market Structure Subcommittee Recommendation – Inclusion of U.S. Treasury ETFs as Eligible Initial Margin Collateral
* Technical Issues Subcommittee Recommendation – Publication of Resource Document to Support Transition to T+1 Securities Settlement
* Digital Asset Markets Subcommittee Recommendation – Adoption of an Approach for the Classification and Understanding of Digital Assets (Iraqi Dinar will be one of these)
As we have seen by following the news, these topics for review are already underway inside the new QFS.
I am simply sharing this report to let you know that the Commodities Futures Trading Commission (CFTC) is the governing body of the new QFS based on its ties to the commodity sector of the markets.
Each of our tokenized assets and opportunities for banking portfolios will have been reviewed and approved through the CFTC. CFTC 1 CFTC 2
This meeting gives us a good idea of where we are in the implementation stages of the QFS.
© Goldilocks
~~~~~~~~~
DTCC Announcement:
“DTCC Completes Blockchain Pilot for Mutual Fund Data”
Depository Trust & Clearing Corporation completes fund data tokenization pilot with Chainlink.
Chainlink is a Smart Contract Network that enables the beginning and conclusion of a trade through the linking of assets wanting to be cleared in a transaction.
The pilot explored the ease of access in determining Net Asset Value (NAV) data for mutual funds across different blockchain networks.
In other words, various stocks, bonds, and other investments are being tested to be listed with new NAV values on the DTCC. (Reset) Investors Observer Wikipedia
© Goldilocks
~~~~~~~~~
Russia signs decree allowing seizure of US assets in Russia | Jurist
~~~~~~~~~
Ether ETFs Clear Major Hurdle, Though SEC Hasn’t Cleared Them for Trading Yet | Coindesk
~~~~~~~~~
Elon Musk predicts AI will take everybody’s jobs | 9News
~~~~~~~~~
Digitalization of trade and maritime transport accelerates thanks to UNECE tools | UNECE
~~~~~~~~~
Third Conference on the International Role of the U.S. Dollar: Welcoming Remarks by Governor | Youtube
~~~~~~~~~
Iran’s Supreme Leaders Promise to Iraq IQD Rate | Youtube
~~~~~~~~~
~~~~~~~~
👆Oh My God. This Bank just told us about when they are going to move onto the QFS.
First action date: June 21, 2024 before 3:00 p.m. MT
Second action date: June 24, 2024 for the remaining steps.
Is important to note that this is one bank’s timeline, but I can’t help from notice that this one is before the June 30th, 2024 laws that are taking effect on crypto regulations and stablecoins at the end of the month.
© Goldilocks
~~~~~~~~~
CSI Partners with TruStage%2 Compliance | Valdosta Daily Times
~~~~~~~~~
👆 Banking Systems are moving to digital. Several of them are beginning to make announcements. You may be getting a notice yourself soon.
~~~~~~~~~
SEC approves rule change to allow creation of ether ETFs | CNBC
The SEC has approved a rule change that paves the way for ETFs that buy and hold ether. The commission approved bitcoin ETFs less than six months ago – those funds have proven a big success for the industry.
Many of the companies that sponsor bitcoin ETFs have already started the process of launching an ether fund. The approval of ether ETFs is a sign that the SEC’s stance toward crypto may be softening. The approval for ether ETFs does not extend to other crypto projects on the Ethereum network.
~~~~~~~~~
Bitcoin and Ethereum are both considered a commodity. More on this tomorrow with Ethereum.
~~~~~~~~~
Bionic Eye Gets a New Lease of Life | IEEE Spectrum
Pixium Vision, a company with an innovative retinal implant that tackles vision loss, has been acquired by Science, a bioelectronics startup run by Neuralink’s co-founder, Max Hodak. Pixium was in danger of disappearing completely after running out of money last November. Studies suggest that its technology is safe and potentially effective. Science will push to get the technology approved in Europe as quickly as possible.
~~~~~~~~~
World now multipolar! | Youtube
