(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
CHINA-RUSSIA CRYPTO PACT: A NEW THREAT TO US DOMINANCE?
The China-Russia crypto pact is worrying some experts. It could challenge the US’s dominance and bring some new security risks to the cryptocurrency market. Global stability could be at stake as tensions grow around the world.
Navigating Security Risks and Cryptocurrency Market Dynamics and Growing Peril of Chinese-Russian Cooperation
Frederick Kempe, CEO of the Atlantic Council, highlighted key issues at the UN General Assembly. He stated:
“Two dark clouds hung over the United Nations General Assembly this week in New York. The first was the growing peril of Chinese-Russian common cause. The second was uncertainty about whether US leadership will rise to the challenge after the November e-------s.” This reflects the influence of the China-Russia crypto pact as well.
The US has sanctioned over 300 Chinese firms recently, but China’s behavior hasn’t changed. In Russia’s Dagestan region, crypto miners are going underground. Local Prime Minister Abdulmuslimov noted:
“The owners of i-----l cryptocurrency mining installations are coming up with new methods of ‘circumventing’ the law – they install mining farms underground,” influenced by the China-Russia crypto pact.
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Global Security Implications
Former Secretary of State Condoleezza Rice sees our era as more dangerous than the Cold War. Kempe reported her concerns about “the gathering global threats running up against the perils of what she called ‘the four horsemen of the Apocalypse—populism, nativism, isolationism, and protectionism.’” Such concerns are exacerbated by the China-Russia crypto pact.
Cryptocurrency Regulation in Russia
Russia will enforce new crypto mining laws from November 1, 2024. The finance ministry will keep a list of approved crypto-mining companies. The influence of the China-Russia crypto pact is expected to be a significant factor in these new laws.
US Response and Future Outlook
The US plans to keep pressuring China for supporting Russia. Nicholas Burns, US ambassador to China, stated:
“We’re not going to stand by as China significantly helps Russia strengthen [not only] its armaments potential, but also its defense industrial base.” The crypto pact further complicates this stance.
The China-Russia crypto pact is a big challenge to US dominance. As cryptocurrency markets grow, global politics are changing. This could reshape how money moves around the world.
@ Newshounds News™
Source: Watcher.Guru
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FORMER CHINESE FINANCE MINISTER URGES STUDY OF CRYPTOCURRENCY MARKETS
Former Chinese finance minister Zhu Guangyao calls for closer study of cryptocurrencies, citing global developments and potential economic importance.
▪️Former Chinese finance minister calls for closer study of crypto
▪️Cites Trump’s campaign remarks as reason for Beijing to pay attention
▪️Acknowledges risks but calls crypto crucial to digital economy
▪️Notes SEC approval of Bitcoin and Ethereum ETFs
▪️Contrasts mainland China’s caution with Hong Kong’s crypto embrace
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Zhu Guangyao, China’s former minister of finance, has called on Beijing to pay closer attention to the cryptocurrency markets.
Speaking at a summit hosted by Tsinghua University, Zhu emphasized the need for the Chinese government to study recent international changes and policy adjustments in the crypto space.
The former minister’s remarks come in light of comments made by Republican presidential candidate Donald Trump on the U.S. campaign trail.
At the Bitcoin Conference in Nashville this July, Trump stated that the United States must fully embrace the crypto industry, warning that “China will do it” if America doesn’t take the lead.
Zhu highlighted Trump’s comparison of the crypto industry to the steel industry of a century ago, noting the candidate’s prediction that cryptocurrency might one day overtake gold.
This high-profile endorsement of crypto by a major U.S. political figure seems to have c----t the attention of Chinese officials.
While acknowledging the potential of cryptocurrencies, Zhu also stressed the importance of recognizing the risks associated with them.
He stated that crypto “has negative impacts, and we must fully recognize its risks and the harm it poses to capital markets.” However, he balanced this caution by describing cryptocurrency as “a crucial aspect of digital economy development.”
The former finance minister also pointed to recent developments in the United States financial sector as a reason for China to reassess its stance on crypto.
Specifically, he mentioned the Securities and Exchange Commission’s (SEC) approval of bitcoin (BTC) and ether (ETH) exchange-traded funds (ETFs), despite initial opposition from the regulatory body.
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This call for a closer examination of cryptocurrencies marks a potential shift in thinking among some Chinese officials. Mainland China has maintained a cautious approach to cryptocurrencies, with strict regulations in place.
However, Hong Kong, which operates under a semi-autonomous system of government and market regulations, has taken a more welcoming stance towards the crypto industry.
Hong Kong has recently listed bitcoin and ether ETFs, signaling a more open approach to cryptocurrency investments. Additionally, some members of Hong Kong’s mini-legislature have actively courted crypto businesses to set up operations in the city.
This divergence in approach between mainland China and Hong Kong highlights the complex landscape of cryptocurrency regulation in the region.
Zhu’s comments suggest that some Chinese officials may be reconsidering the country’s stance on cryptocurrencies in light of global developments.
The former finance minister’s call for further study indicates a recognition that the crypto industry is becoming an increasingly important part of the global financial landscape.
@ Newshounds News™
Source: Blockonomi
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RIPPLE & INDIA, PARTNER UP- $500T MARKET
Zach Humphries Tells us “Massive XRP news as Ripple & India, partner up- $500T Market. The oil industry is changing, and XRP is revolutionizing it.” He states in the video that “Ripple is integrating XRP into Oil trading and cross border transactions using Saudi Arabia Banks.”
@ Newshounds News™
Source: Twitter X
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DIGITAL FUSION SUMMIT UNITES FAMILY OFFICES AND INSTITUTIONAL INVESTORS TO EXPLORE DIGITAL ASSET OPPORTUNITIES IN DALLAS
Dallas, United States, Texas, September 28th, 2024, Chainwire
Event Highlights Strategies for Integrating Digital Assets into Traditional Finance Portfolios
On September 19th, the Digital Fusion Summit convened at the W Hotel – Victory in Dallas, Texas, bringing together family offices, institutional investors, and high-net-worth individuals for an exclusive event focused on the burgeoning digital asset class.
Hosted on the 33rd Floor Altitude Center, the summit provided a premier platform for education, networking, and strategic discussions at the intersection of traditional finance and digital assets.
Co-hosted by industry leaders Jake Claver and Max Avery of Digital Ascension Group and Syndicately, alongside Jordan M. Hutchinson, President and Managing Partner of Black Ocean Capital & Jest Events, and supported by team members Eric Ascione and Jedidiah Wick, the summit assembled experts to delve into opportunities, challenges, and investment strategies surrounding digital assets.
The event featured a series of panels and discussions addressing critical aspects of the digital asset landscape, including blockchain technology, cryptocurrency adoption, asset tokenization, and fintech innovations.
“What Digital Assets Really Mean for Family Offices: Strategy, Adoption, and Investment Opportunities”—This panel, moderated by Ray Fuentes, explored how family offices can develop effective strategies and assess value propositions in the digital asset space.
Panelists included thought leaders such as Jake Claver, Matthew Snider, Erin Friez, and Rustin Diehl, who shared insights on successful investment cases and adoption strategies within blockchain and cryptocurrency markets.
“Professional Service Providers for Digital Assets: Ensuring Security and Compliance”—Moderated by Rachel Wolfson, this discussion focused on the evolution of custody solutions, best practices for digital asset security, and navigating regulatory considerations in the cryptocurrency sphere.
Panelists Eric Ervin, Joe Medioli, and John Wingate offered valuable perspectives on the role of institutional custody in driving widespread adoption of digital assets.
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“Fintech Companies Providing Liquidity to Private Investments: Opportunities and Challenges”—This panel, led by Ray Fuentes, delved into the potential of tokenizing real assets, legal considerations in asset tokenization, and successful case studies.
Industry specialists Lee Mosbacker IV, Connor McLaughlin, Jake Claver, and John Wingate shared their expertise on navigating early-stage investments in digital assets and the tokenization process, highlighting how fintech innovations are reshaping liquidity in private markets.
“Legal Innovations in Blockchain”—Rachel Wolfson moderated this discussion with legal experts Rick Tapia, Rustin Diehl, and Erin Friez to explore the evolving legal frameworks shaping the blockchain and cryptocurrency sectors. The panel examined intellectual property rights, compliance issues, and the impact of regulatory changes on the deployment of blockchain technology and digital assets.
The summit also featured keynote speeches from Joe Medioli of Anchorage Digital and Lee Mosbacker IV of Cyrannus, providing deeper insights into institutional digital asset services and the importance of liquidity in private markets. Their presentations underscored the critical role of secure, compliant, and efficient digital asset solutions in the financial industry’s future.
Sponsors Cyrannus, Anchorage Digital, and Securitize for Advisors played a pivotal role in making the summit possible, demonstrating their commitment to advancing the digital asset ecosystem and supporting the integration of blockchain technology into mainstream finance.
The Digital Fusion Summit successfully bridged the gap between traditional finance and the digital asset landscape, offering attendees a comprehensive view of the opportunities and challenges in this rapidly evolving sector.
As digital assets, blockchain, and cryptocurrency continue to gain traction among institutional investors and family offices, events like this are crucial for fostering education, collaboration, and growth within the industry.
The success of this inaugural Digital Fusion Summit sets the stage for future events aimed at uniting traditional finance with the burgeoning world of digital assets. For those interested in attending upcoming events or learning more about opportunities in the digital asset space, the team at Digital Ascension Group welcomes inquiries.
To stay informed about future events and explore how your family office or institution can navigate the world of digital assets, please visit www.digitalfamilyoffice.io.
The team at Digital Ascension Group looks forward to fostering more insightful discussions and valuable networking opportunities in the digital asset sector.
@ Newshounds News™
Source: Investing News
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Dive Deeper into The Constitution: Fascinating Facts You Need to Know | YouTube
@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
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Source: Dinar Recaps
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CANADA SETS NEW DEADLINE FOR CRYPTO PLATFORMS TO COMPLY WITH STABLECOIN REGULATIONS
The Canadian Securities Administrators (CSA) have announced an updated regulatory framework for stablecoins, also known as value-referenced crypto assets (VRCAs), with a new compliance deadline set for December 31, 2024.
UPDATED REGULATORY REQUIREMENTS
The updated regulations emphasize transparency and investor protection, requiring stablecoin issuers to maintain appropriate reserves with qualified custodians and to publicly disclose information about their governance, operations, and reserves.
These measures aim to enhance the integrity of the Canadian capital markets and ensure the safety of investors engaging with crypto trading platforms.
Recently, Canada has been in the news when its central bank announced a strategic shift away from developing a retail CBDC (Central Bank Digital Currency).
@ Newshounds News™
Source: Bitcoin News
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WIKI FINANCE EXPO DUBAI 2024 WILL BE HELD ON NOV 27TH!
FinTech, Forex, Crypto, Web 3.0, Metaverse, ESG and AI Will Be in Focus.
Taking place on Nov 27, 2024, Wiki Finance Expo Dubai 2024 is one of the largest and most influential FinTech and Web3.0 events in Asia in 2024.
@ Newshounds News™
Read more: Blockchain Reporter
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OHIO SENATOR INTRODUCES BILL TO ALLOW TAXES TO BE PAID IN BITCOIN
In what could be massive for Bitcoin and the crypto market, Ohio senator Niraj Antani has introduced a bill that would legalize BTC as a payment option for state taxes and other fees. Indeed, the legislation would be transformative in how it allows for the usage of cryptocurrencies for payments.
The bill was first introduced Monday and would create a new avenue for state financial obligations for Ohioans. Moreover, it could create increased adoption in the state, driving larger exposure to the leading cryptocurrency and other tokens through the key legislative change.
Ohio Bill Would Allow Bitcoin as Legal Payment for State Taxes and Other Fees
2024 is certainly Bitcoin’s year. In January, the asset had become the first crypto-based ETF in the United States. Just three months later, it surged to a $73,000 all-time high. Now, with October nearing, there are expectations that BTC could challenge that price.
While the asset is looking to surge, Ohio Senator Niraj Antani has recently introduced a bill that would allow both state and local taxes to be paid in Bitcoin and other crypto. Indeed, Antani took to X (formerly Twitter) to announce the new legislation that would change the landscape of Ohio finance.
Antani noted he had “introduced a bill [to] legalize the use of cryptocurrency to pay state and local taxes and fees.” Moreover, he said, “Cryptocurrency is not just the future- it’s the present.” The legislation would come five years after Ohio became the first state to accept crypto for tax payments.
However, a year after it was approved, the Ohio Attorney General ruled the State Board of Depostis had to approve the policy. That move stalled the development, with Antani looking to make amends. His move would put the state at the forefront of digital finance in the United States.
@ Newshounds News™
Source: Watcher Guru
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TAIWAN NOW ALLOWS PROFESSIONAL INVESTORS TO ACCESS BITCOIN ETFS
In a massive development for the country, Taiwan’s Financial Supervisory Commission (FSC) has allowed professional investors to gain access to foreign Bitcoin and other crypto ETFs. Indeed, the commission announced the change Monday, allowing select investors to participate with “foreign virtu asset” exchange-traded funds.
The crypto-based ETF market has surged in the United States this year. After receiving the first Bitcoin ETF approval in January, Ethereum quickly followed suit just a month earlier. Now, Taiwan has looked to expand “product choices,” for the country’s investors through its recent decision.
Taiwan FSC to Allow Crypto ETF Access in Notable Shift
2024 has been massive for Bitcoin, and its recently approved ETFs. Just last week, the ETFs of the leading crypto drew more than $1 billion in net inflows.
That has proven to be its highest since July, and a notable shift from the last several months. It has investors clearly expecting a massive surge to come with October fast approaching.
As the market sentiment is beginning to shift, one country may be prepared to take advantage. Indeed, Taiwan has officially decided to allow professional investors access to foreign Bitcoin and crypto ETFs. The huge move will allow select individuals to have access to the crypto currency investment products.
The report notes that there is a specific criteria to meet for those hoping to invest. “Professional investors include professional institutional investors, high-net-worth investment legal persons, high-asset clients, legal persons or funds that are professional investors, and natural persons that are professional investors,” the FSC clarified.
Additionally, there must be a board-approved suitability assessment for securities firms looking to invest in crypto ETFs. This will coincide with mandatory educational efforts for businesses. Specifically, this will seek to teach more about cryptocurrency, and its inherent risks.
Yet, the decision still adds Taiwan to a list of nations looking to further embrace crypto as a growing, globally important, asset class.
@ Newshounds News™
Source: Watcher Guru
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TRUMP’S WORLD LIBERTY FINANCIAL OPENS KYC VERIFICATION
The project urges crypto’s accredited investor class to “‘Be DeFiant’ and begin the KYC process.
Trump-backed World Liberty Financial has opened up Know Your Customer (KYC) verification on its official website for its upcoming public token sale.
What’s the Scoop?
KYC Purpose:
According to the homepage, information about the project is only accessible to those completing the KYC process. In the U.S., only accredited investors will be eligible.
Token Details:
It was confirmed that World Liberty Financial will issue a non-transferable governance token, WLFI. Token distribution includes 63% to the public, 17% for rewards, and 20% for team compensation.
Bankless Take:
While we’re inching closer to World Liberty Financial’s launch, we’re inching closer to the e------n too. With the majority of crypto seeing WLFI as a net negative to Trump’s chance to win and potentially impeding bipartisan progress for crypto if he doesn’t, the KYC launch does little except heighten anxieties. Regardless, with less-than-desirable tokenomics, it will be interesting to see how much funding WLFI accrues for its non-transferable token sale.
@ Newshounds News™
Source: Bankless
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Zimbabwe (RV) History | YouTube
@ Newshounds News™
Source: Seeds of Wisdom Team RV Currency Facts
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Source: Dinar Recaps
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