Goldilocks’ Global Economic News Friday 6-21-2024
“Stablecoin issuers are fast emerging as a significant source of demand for the U.S. Treasury notes as concerns about Washington’s debt management grow.
* Stablecoin issuers are the world’s 18th biggest holders of U.S. debt.
* Of the many crypto bills in the U.S. political corridors, stablecoin legislation has been the closest to moving past the U.S. Congress to become law.
Stablecoin issuers are fast emerging as a significant source of demand for the U.S. Treasury notes as concerns about Washington’s debt management grow.”
👆 Look for a stablecoin regulation to move into high gear now due to the above article information.
What are stablecoins backed by? You got it. Commodities. CoinDesk
© Goldilocks
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Folks, Are you paying attention?
Owing to new European Union rules on stablecoins, we will no longer support the following assets from July 1st 2024:
DAI
FRAX
GUSD
USDP
TUSD
USDT
We’ll continue supporting USDC, EURC and PYUSD
Wow !!!!
Why are these crypto stable coins being removed from uphold ?
Well it’s because they simply aren’t stable !
Remember MICA ?
MiCA establishes a framework for crypto-assets in the EU, covering their issuance, trading, offering, and custody. It also includes rules for stablecoins, licensing requirements for CASPs, and consumer protection measures. Some of the rules that will apply on June 30, 2024 include:
• Stablecoins Only credit institutions (banks) and electronic money institutions (EMIs) will be able to issue stablecoins, promote their purchase, and request that trading platforms list.
• Crypto custodians Crypto custodians are liable to their clients for the loss of crypto-assets or access to them if the incident is their fault
Big Dog
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“In a market economy, a country’s currency value is determined by supply and demand, just like other goods and services. When demand for a currency increases, it appreciates, or becomes stronger and more valuable. When demand decreases, it depreciates, or becomes weaker and less valuable.” | Investopedia
“Yes, economic activity, including market interest rates, gross domestic product, and unemployment rate, can affect exchange rates. These rates are often called market exchange rates and are set in the global financial marketplace by banks and other financial institutions. Exchange rates can change hourly or daily, and can be small or large shifts.” | Investopedia
I thought I would give you an idea of what’s happening with Vietnam when they go to a Market Economy. Just so you know, supply and demand will determine their new exchange rates when they change their monetary policy to move into a Market Economy.
Both the United States and Russia have recently signed a Comprehensive Strategic Partnership with Vietnam. These two countries recognize Vietnam’s capacity to step up to the plate, and into, a higher level playing field with their economies along with all the rights and privileges that go with it.
In a previous article, we were told that Vietnam would make this transition by the end of July 2024. The Investor English News
© Goldilocks
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Hong Kong Announcement:
“Hong Kong Treasury chief: We’re leading in Web3 with digital currency ETFs, enabling regulations”
This article is an advertisement of what Hong Kong offers going forward on their international market exchange locally and cross borders.
They offer the full arrangement of a regulated cryptosystem capable of using stablecoins worldwide.
Hong Kong has the ability to trade in multi-currency accounts through cryptos fully regulated in their financial system. CoinGeek
© Goldilocks
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A New Era in Iraq’s Relations with the West?
“Amid growing pressure to dissolve the coalition and withdraw troops, the United States and its partners should continue pursuing good relations with Baghdad — but this time with a lighter footprint and increased regional cooperation.”
Currently, Iraq has a “mixed economic system” with aspects of it that is private and many parts of it regulated and governed by the government.
They are currently in transition and expected to meet goals to reclaim their independence as the year goes forward.
Expectations from previous articles state that they are to become their own market economy by the end of the year.
Their move towards independence as a nation and less guidance from government bodies outside of their own is currently in process. Iraq Business News Washington Institute
© Goldilocks
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Supreme Court decision upholds Trump-era tax on offshore earnings – The Washington Post
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Revolutionizing Voting Systems Through Blockchain Innovations | Smart Phone Magazine
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Cash flow is the lifeblood of any business. That’s why many of the most exciting innovations within payments are aimed at helping businesses build better balance sheets and support healthy growth.
And with the advent of instant payments, the first new domestic payments rail in half a century, there is a new — and better — way to pay in the U.S.A. | Pymnts
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The Rising Economy Of Vietnam | Asia’s Next Emerging Powerhouse? | Youtube
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Crypto Exchanges Brace for EU’s MiCA Rules: Stablecoins Delisted by Uphold, Binance – Altcoins Bitcoin
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Cryptocurrency 2024: SEC Enforcement, State Regulation, and the Need for Clarity | Youtube
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BREAKING NEWS: Changes in the Developing Road Project #iraq | Youtube
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America is in “A Bad Place”; Gold Can Restore Its Prosperity Says Trump Fed Nominee | Youtube
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Crypto 101: What is a Node? | Youtube
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Is It Too Late To Get Into Crypto? | Youtube
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