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(Note: If you’re looking for more news regarding cryptocurrency, please visit our website Bitcoin Commando. All crypto news will be posted there. ~ Dinar Chronicles)
Goldilocks and Seeds of Wisdom
Announcement of the CHIPS Migration to ISO20222 Messaging:
“The adoption of this format by CHIPS (Clearing House Interbank Payment System) enhances the efficiency of payments processing, The Clearing House (TCH) said in a news release on Wednesday (April 10), two days after the migration.
It also lets participants and end-user customers gain value from enriched data content like extended remittance information. It lets users query structured message formats for multiple purposes, such as sanctions and compliance screening.
According to the release, the network wrapped its first day of operations on the ISO20022 message format having released 555,345 payments for a value of $1.81 trillion.”
The Clearing House Interbank Payments System (CHIPS) is the largest Clearing House Payment System in the US. It is the largest private-sector, high-value clearing, and settlement system in the world.
On April 8th, 2024 the CHIPS Network successfully migrated to the ISO 20022 messaging system. This allows foreign currency exchanges to be traded on the new digital banking system.
Along with our transactions, there will be a clear message informing both sides of a trade what the exchange is all about with directions for the completion of the transaction.
Pymnts | Investopedia | The Clearinghouse
© Goldilocks
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“The Financial Stability Institute (FSI) in a detailed report issued on April 9th, 2024, has emphasized the necessity of a coordinated regulatory approach to Stablecoins across different jurisdictions.”
The Financial Stability Institute is calling for the unification of governing laws for Stablecoins throughout the US, UK, and the EU.
Global Regulations are needed for licensing, consumer protection, and AML in 7 jurisdictions.
Markets in Crypto Assets (MICA) are currently in the process of Global Regulations through the European Union.
CoinGape | Investopedia
© Goldilocks
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“BRICS refers to certain emerging market countries—Brazil, Russia, India, China, South Africa, and more—that seek to establish deeper ties between member nations and cooperate on economic expansion, including trade. The countries act as a counterbalance to traditional Western influence.”
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When the BRICS Nations become strong enough to have a trading influence equal to or greater than the Western Culture, there will be bilateral agreements “only” as a reason for us to sign documents in the near term.
This is expected to change in about two decades when the BRICS Nations are expected to be strong enough to overtake the dollar. The transition of the dollar is expected to be a slow process. In the meantime, the Dollar Act is in the process of moving through Congress to support this transition.
To have a (digital) currency strong enough to challenge the dollar or equal within its dominance able to level the playing field for the BRICS Nations, they will more than likely have a gold-backed digital trading coin that will give them the capacity to do so.
At that time or before, the United States will be under a Gold Standard and part of the new leveling playing field.
Congress | Investopedia | ISS Africa
© Goldilocks
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What is the latest on #BRICS currencies? | Youtube
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Who controls the price of gold in 2024? | Youtube
is gold about to decouple from the dollar?
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Breaking Ripple News:
Uphold Confirms FedNow Integration for XRP Transactions. Uphold lets users withdraw XRP instantly to US bank accounts using FedNow, easing crypto-to-fiat conversions. | Crypto Adventure 4 days ago
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Markets in Crypto-Assets Regulation (MiCA) | Esma Europa
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Markets in Crypto-assets (MiCA) – New EU law on crypto-assets | Twobirds
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Is Europe’s MiCA a Template for Global Crypto Regulation? | Coindesk
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Global Banking Announcement:
US Treasury and PBOC to Conduct Joint Financial Shock Exercises By Manesh Samtani, exercises will help establish lines of communication between US and Chinese regulators and identify areas of potential cross-border contagion and other risks | MSN
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Derivatives Services Bureau Announcement:
London, Tuesday 9 April 2024 – The Derivatives Service Bureau (DSB), the global golden source of reference data for Over the Counter (OTC) derivatives, today released the latest data on industry readiness for European UPI (Unique Product Identifier) regulatory reporting requirements, which are part of the EU EMIR Refit Regulations.
The European Union will implement UPI reporting from 29 April 2024 as the second G20 jurisdiction, following the US who went live from 29 January 2024, and ahead of the UK effective date in September 2024. | DSB
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Do you see what’s happening? We are currently working on Global Payment Systems for the new QFS.
@ Goldilocks
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Hong Kong spot Bitcoin ETF Announcement:
HONG KONG (Reuters) – “Spot bitcoin exchange-traded funds could be launched in Hong Kong this month with the first approvals likely to be announced next week, two people familiar with the matter said.” | MSN
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FYI
Since I trade on the markets, you do know I will be very aware the instant our markets flip completely over to the new digital asset-based trading system. This will be all sectors of the market and the value changes that come with it including Forex.
© Goldilocks
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President Joe Biden has promised Israel “ironclad” US support amid fears that Tehran could launch reprisals for an attack that killed senior Iranians. | BBC
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How Much GOLD Is In Home Depot Sand? | Youtube
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We are at the place where Credit Valuation Adjustments are about to begin.
The process will be monitored and assessed throughout most of this year and as new changes take place.
Look for all sectors of the market to be involved in this process such as banking systems and Forex.
Central Banks all over the world continue to focus on accumulating gold. Utilizing Gold as a World Reserve Asset makes this asset a matter of time before a country or countries of significant influence will build upon it’s fixed value into their currency.
The BRICS Nations have been looking to do this for some time in the creation of and use of a trading currency that would appeal to all countries around the world.
Sprinkle a little gold dust on this new currency, and you will have a standard by which all trading protocols can be measurable on the QFS and utilized as a bridge asset through a digital asset backed by GOLD such as XRP.
Risk Net
© Goldilocks
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Next week, the World Bank and the IMF are meeting in Washington DC for their Spring Meetings 2024. This year, the meetings will be compressed between 17th and 19th April, with some ancillary events happening between Monday 15th and Friday 20th. the schedule of events can be found here.
Schedule | World Bank
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Gold & Silver Making MASSIVE Moves! Banks Are STACKING Lots Of Gold! | Youtube
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Source: Dinar Recaps
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