______________________________________________________
(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)
Seeds of Wisdom
THE CHEVRON DOCTRINE OVERTURNED BY THE SUPREME COURT
A 40 year PRECEDENT called the Chevron Doctrine WAS OVERTURNED by SCOTUS on June 28th. How could this affect the RV of CURENCY in the U.S.?
The overturning of the Chevron Doctrine stripped 3 letter agencies from enacting enforceable policies from ambiguous laws.
“Under that doctrine, if Congress has not directly addressed the question at the center of a dispute, a court was required to uphold the agency’s interpretation of the statute as long as it was reasonable. But in a 35-page ruling by Chief Justice John Roberts, the justices rejected that doctrine, calling it “fundamentally misguided.”
How will this affect the SEC and the CFTC moving forward as they address Crypto and Digital Asset guidelines?
© Newshounds News™
Read more: SCOTUS Blog
~~~~~~~~~
Advertisement
______________________________________________________
STOCK MARKET CORRECTION ON THE HORIZON?
“Leading global investment bank JP Morgan has predicted a major US stock market crash. The bank remains cautious on the S&P 500 index noting that a 20% downside could be on the cards. JP Morgan’s doomsday stock market prediction comes when BRICS is looking to uproot the dollar and damage the US economy.”
“If the US stock market dips 23% according to JP Morgan, BRICS currencies will gain strength in the forex markets. While the US stock market will look at ways to stop the crash, BRICS could cause further damage by cutting ties with the dollar.”
“JP Morgan’s bearish forecast for the US stock market is bullish for BRICS as it wants to pull the dollar down. The weakening of the US dollar is a boon to BRICS which wants to push local currencies ahead for trade.”
© Newshounds News™
Read more: Watcher Guru
~~~~~~~~~
DO YOU OWN GOLD?
“The vast majority of professional investors in North America own at least some gold and the number has been growing in recent years. A World Gold Council survey of 525 North American investors found a steadily growing trend of gold ownership. The survey included large institutions, consultants, and financial advisors.”
“Over one-quarter of respondents said they plan to increase gold allocations in the next 12 to 18 months. That was more than double the number who said they plan to reduce their exposure to gold.”
Advertisement
______________________________________________________
“In fact, gold has outperformed most asset classes over the last 25 years. In fact, with an average 8 percent return each year, gold has outperformed equities over the last quarter century. “
© Newshounds News™
Read more: ZeroHedge
~~~~~~~~~
U.S. SENATE PICKS UP CRYPTO LEGISLATION
H.R. 4763 passed in the Congress late May giving the U.S. their first look at crypto legislation. The Senate has yet to act upon any Crypto/Digital Asset bill until now as Senator JD Vance (R-OH) is now crafting legislation.
“On June 26, Politico reported that Sen. J.D. Vance (R-OH) has been circulating the draft of a digital assets bill that he hopes to introduce in July. Vance’s bill will reportedly give ‘crypto’ operators even more latitude than the Financial Innovation and Technology for the 21st Century Act (FIT21) approved by the House of Representatives last month.”
“And yet Vance’s draft bill reportedly takes “a more industry-friendly approach” than FIT21, which is saying something, given that FIT21’s passage set champagne corks-a-poppin’ within the halls of U.S. digital asset firms. Vance’s bill will reportedly “take a simpler approach to determining which digital assets the SEC would oversee versus the CFTC.”
© Newshounds News™
Read more: Coin Geek
~~~~~~~~~
MiCA AND STABLECOIN RESTRICTIONS
“A few press reports have raised concerns about stablecoin limits under the European Union’s Markets in Crypto Assets Regulation (MiCAR). The stablecoin elements of the regulation came into force at the end of June. The regulation does indeed have some d*******n limits, at which point the stablecoin must cease activity. The European Banking Authority has relaxed the rules in its final iteration.”
“The EU is saying if you want to use stablecoins to buy crypto and do DeFi stuff, have at it. But if you want to use stablecoins to pay for goods and services like your coffee or your rent, then you need to use Euro (or other EU currency) stablecoins. The limits are really about monetary sovereignty.”
© Newshounds News™
Advertisement
______________________________________________________
Read more: Ledger Insights
~~~~~~~~~
Source: Dinar Recaps
=======================================
WHAT EXACTLY IS A STABLECOIN
“Stablecoins are a type of cryptocurrency that seeks to maintain a stable value by p*****g their market value to an external reference. This reference could be a fiat currency like the U.S. dollar, a commodity such as gold, or another financial instrument.”
“Stablecoins play a crucial role in the cryptocurrency ecosystem due to their stability.“
“They aim to provide the speed and security of a blockchain while eliminating the volatility that most cryptocurrencies endure. Initially used primarily to buy cryptocurrencies on trading platforms that did not offer fiat currency trading pairs, stablecoins have seen their adoption grow. They are now used in several blockchain-based financial services, such as lending platforms, and can even be used to pay for goods and services.
© Newshounds News™
Read more: CoinBase
~~~~~~~~~
DO YOU UNDERSTAND BLOCKCHAINS?
Blockchains are the critical infrastructure underlying cryptocurrencies. The common feature of these distributed ledgers is the sequential updating of a cryptographically secure, verifiable transaction record among a network of peers all operating under a certain set of rules enforced through the software itself. This record is owned and operated in common by anyone anywhere.
While research in shared ledger technology goes back decades, the arrival of the Bitcoin blockchain introduced the first distributed ledger technology that was thoroughly decentralized and resistant to censorship, seizure and collusion.
Advertisement
______________________________________________________
Blockchain technology, in its various manifestations including the Ethereum blockchain and others, is ultimately a global consensus system — i.e., it allows people to coordinate and cooperate around a neutral source of information without trusting each other or a central administrator. The use cases are wide-ranging, from finance and energy trading to supply chain management.
At Cointelegraph, we are chronicling the evolving blockchain industry. Is it revolutionary or overhyped? Or both? Will it become the solution to securing trust in finance and global trade? What will be the rate of blockchain transactions in the coming years?
Stay tuned to find out.
© Newshounds News™
SOURCE: Coin Telegraph
~~~~~~~~~
Crypto-Friendly Silvergate Bank Pays $63M to Settle Charges With SEC, Fed, California Regulator
Silvergate’s executives were aware of ‘critical deficiencies’ in the bank’s anti-money laundering protections, the SEC alleged.
Silvergate Bank’s parent company settled charges with the Securities and Exchange Commission, Federal Reserve and California Department of Financial Protection and Innovation alleging it failed to maintain a proper anti-money laundering program and made misleading disclosures about the program’s effectiveness.
The SEC also charged Silvergate’s former executives. Former CEO Alan Lane and former COO Kathleen Fraher agreed to settlements, while former CFO Antonio Martino denied the charges.
Read more: Coin Desk
~~~~~~~~~
Coinbase files motion to reinforce judge’s ruling on Binance case: Secondary market transactions not securities
The SEC is suing Coinbase for selling unregistered securities, but the definition of a security under US law is unclear as applied to crypto, according to Coinbase.
Coinbase uses Judge Jackson’s ruling to argue for consistent securities law enforcement in crypto.
Advertisement
______________________________________________________
The motion calls for clarity in the application of the Howey test to crypto transactions.
Read more: Crypto Briefing
~~~~~~~~~
CFTC Announces Supervisory Stress Test Results
The Commodity Futures Trading Commission today issued Supervisory Stress Test of Derivatives Clearing Organizations: Reverse Stress Test Analysis and Results, a report detailing the results of its fourth Supervisory Stress Test (SST) of derivatives clearing organization (DCO) resources. Among other findings, the 2024 report concluded the DCOs studied hold sufficient financial resources to withstand many extreme and often implausible price shocks.
The Risk Surveillance Branch of the Division of Clearing and Risk conducts periodic SSTs to assess how DCOs might fare under extreme stress. Staff previously conducted SSTs in 2016, 2017, and 2019. The 2019 SST included a reverse stress test component, and this 2024 SST is a major expansion of that, which includes nine DCOs, representing 11 clearing services across four asset classes (futures and options on futures, cleared interest rate swaps, credit default swaps, and foreign exchange products).
The purpose of the analysis was twofold: (1) to identify hypothetical combinations of extreme market shocks, concurrent with varying numbers of clearing member (CM) defaults, that would exhaust prefunded resources (DCO committed capital, and default fund), and unfunded resources available to the DCOs (this represents the reverse stress test component), and (2) to analyze the impacts of DCO use of mutualized resources on non-defaulted CMs.
Read more: CFTC
~~~~~~~~~
Source: Dinar Recaps
______________________________________________________
If you wish to contact the author of a post, you can send us an email at voyagesoflight@gmail.com and we’ll forward your request to the author (if available). If you have any questions about a post or the website, you may also forward your questions and concerns to the same email address.
______________________________________________________
All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.
Dinar Chronicles is an informational news aggregator. All content, including third-party reports and community commentary, is provided for educational purposes only. We do not provide financial, legal, or tax advice. We do not recommend the purchase or sale of any currency or investment. Please consult with a licensed professional before making any financial decisions.
Copyright © Dinar Chronicles
______________________________________________________
