(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
“CFTC Approves Final Rule Amending the Capital and Financial Reporting Requirements of Swap Dealers and Major Swap Participants”
The Commodities Futures and Trading Commission has been fast-tracking this rule through as of late. They even went so far as to do this Final Rule in-house to avoid it taking any longer than it had to take otherwise.
When it comes to money/foreign exchanges, everything is reported to Uncle Sam. This Final Rule for Swap Dealers to report Capital gains of Swap Dealers and Major Swap Participants is in the process of going inside the Federal Register.
The effective date of this rule that will enable us to exchange with Swap Dealers is 30 days from publication inside the Federal Register. This puts us close to the end of May when we will first be able to exchange if everything is completed by that time with “technological operability” and laws that govern the process of Foreign Currency Exchanges.
CFTC
© Goldilocks
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Pretty soon, you’re going to hear me start talking about CBDCs. This does not mean that I am a fan of that particular coin, it’s just the reality of where we are going. And, I am committed to letting you know exactly what is going on with the new digital economy.
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Like it or not, CBDCs will be a part of it at the very least on the wholesale level. The retail level remains to be seen. If it does reach the retail level, it will have to meet new private policy laws.
That being said, I see the making of CBDCs on the retail level coming out years from now if at all. Cross your fingers and hope that Stablecoins are all we need.
© Goldilocks
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Fed Meeting Today: Interest Rates Decision Due; Watch Powell’s Speech | Barrons
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The Dow has lost 5.00% the last 4 weeks. It looks like we’re going to lose some more ground going forward.
We talked about these adjustments taking place about a month ago. I shared with you that we had three to five weeks to go through a downturn inside the markets.
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Hopefully, the bleeding will stop this week going into next week, but the fundamentals are not looking good.
The FOMC meeting is today. So far, I am hearing that a cautious approach may lead to no interest rate changes at best. The actions today will determine the reactions of traders moving forward on the market.
© Goldilocks
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Federal Register Announcement:
The Commodity Futures Trading Commission (Commission or CFTC) is amending its swap e*******n facility (SEF) regulations related to uncleared swap confirmations, and making associated technical and conforming changes. | Federal Register
Goldilocks pointed to this article
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Foreign Currency Exchange Tax Issues | Small Business
If your company exchanges currency at a profit, it must pay tax on the gains it realizes from the transaction.
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If Treasury Bonds Hit 5%, You’re Gonna See Some Serious Sh*t | Zero Hedge
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FOMC Press Conference May 1, 2024 | Youtube
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The Fed keeps rates on hold.
– No interest rate changes at this time.
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Ripple XRP – IMF CONFIRMED MIND-BLOWING FOR XRP… Brad Garlinghouse (Best Crypto To Buy Now 2024) | Youtube
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Source: Dinar Recaps
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