(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
GLOBAL ASSET MANAGER LAUNCHES XRP ETP WITH INDUSTRY-LEADING PRICING IN EUROPE
XRP advances with a new institutional-grade exchange-traded product, offering secure, physically backed exposure as Wisdomtree expands crypto products amid growing investor interest.
XRP Gains Ground: Major ETP Launched by a Top European Asset Manager
Asset management firm Wisdomtree announced on Thursday the launch of its latest cryptocurrency exchange-traded product (ETP), the Wisdomtree Physical XRP (XRPW), on major European exchanges, including Deutsche Börse Xetra, Six Swiss Exchange, and Euronext in Paris and Amsterdam.
With a management expense ratio of 0.50%, the asset management firm stated that its XRP ETP is Europe’s most competitively priced offering for XRP exposure.
Built for simplicity and security, Wisdomtree explained that the product is fully backed by XRP, providing exposure to its spot price through an institutional-grade, physically backed structure. According to the asset manager:
The Wisdomtree Physical XRP ETP is designed to offer investors a simple, secure, and cost-efficient way to gain exposure to the price of XRP. Investors also benefit from a dual-custody model with regulated custodians and with the underlying assets professionally secured in cold storage.
This latest addition expands Wisdomtree’s portfolio of nine cryptocurrency ETPs, which also cover bitcoin, ethereum, solana, and diversified crypto baskets.
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“Cryptocurrency ETPs represent an efficient way to keep investors in a regulated framework and are becoming the preferred vehicle to access cryptocurrencies,” Alexis Marinof, Head of Europe at Wisdomtree, highlighted the benefits of ETPs.
“Wisdomtree leverages 20 years of expertise in providing and managing physically-backed ETPs for institutional investors. With over $100bn of assets under management globally across ETFs and ETPs, investors in our cryptocurrency ETPs can benefit from our global reach, scale and resources.”
@ Newshounds News™
Source: Bitcoin News
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BRICS: INDIA PROVIDES UPDATE ON CBDC CURRENCY
BRICS member India is among the few countries that successfully launched a pilot basis of Central Bank Digital Currency (CBDC). The Reserve Bank of India (RBI) began testing the CBDC currency early this year for trade and common transactions. The RBI is testing the security aspects of digital currencies and conducting studies about their potential impact on the economy.
The launch of the CBDC could change the fortunes of BRICS member India, as it’s ahead of the curve in digital currencies. Out of the 198 countries in the world, 134 nations are currently working towards the formation of a CBDC currency. All the countries are currently in testing mode while only a few have reached the pilot testing phase.
BRICS: India Gives Update on CBDC Currency Progress
Apart from the de-dollarization agenda, BRICS is also looking to topple the US dollar with CBDC digital currencies. Reserve Bank of India’s Deputy Governor T Rabi Sankar confirmed that the CBDC pilot mode is in its advanced stages.
Sankar signaled that the CBDC rollout will also be utilized for government, retail, and institutional users. When reporters questioned about its release date, the RBI deputy said that they were not in a hurry.
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“We are in no hurry to roll it out (CBDC) immediately,” he said to reporters. The RBI deputy revealed that once things fall in place, details about the CBDC currency will be made public by BRICS. “Once we have some visibility of what the outcome or impact will be, we’ll roll it out. We don’t keep a specific timeline for that.”
Apart from India, its BRICS counterpart Russia is also in the advanced stages of testing its CBDC currency. Russia plans to launch the digital ruble and usher into a new era in the financial sector. Transactions in the US dollar will begin to decline gradually if BRICS starts using CBDC digital currencies for trade.
@ Newshounds News™
Source: Watcher Guru
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Source: Dinar Recaps
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BRICS: MORGAN STANLEY PREDICTS THE FUTURE OF THE US DOLLAR
BRICS is challenging the dominance of the US dollar by spreading the de-dollarization agenda across the globe. The bloc is pushing local currencies for trade and convincing other developing countries to sideline the US dollar. Using local currencies will strengthen their native economies and give them a boost in the forex markets. Amid the BRICS de-dollarization initiative, leading investment bank Morgan Stanley has predicted the future of the US dollar
Three sectors (see link below) in the US will be affected if BRICS ditches the dollar for trade. The move will make the US dollar lose out on the global supply and demand dynamics and push it into the path of decline. If the US fails to import the dollar, inflation could hit the homeland leading to higher prices for basic necessities.
BRICS: Morgan Stanley Reveals How the US Dollar Will Survive the Challenges
Analysts from the leading investment bank Morgan Stanley predict that the US dollar will remain the dominant currency for a longer period despite the challenges from BRICS. The bank’s analyst highlighted that in terms of financial instability, investors flock to the US dollar and not the Chinese yuan.
Historically, the USD has maintained stability during a market crisis while other local currencies plummeted. The USD can withstand the whips of the currency market as it is backed by global trade, said Morgan Stanley on the BRICS de-dollarization initiative.
“Which currency would you want to own when global stock markets start to fall? And the global economy tends to head into recession?” said James Lord, Morgan Stanley’s Head of Foreign Exchange Strategy. “You want to be positioning in US dollars because that has historically been the exchange rate reaction to those kinds of events.” In conclusion, Morgan Stanley predicts that the US dollar will reign supreme against the onslaught of the BRICS alliance.
@ Newshounds News™
Source: Watcher Guru
Three Sectors Affected
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COIN CENTER WARNS US POLICIES COULD SCARE AWAY CRYPTO INVESTORS DESPITE TRUMP WIN
Coin Center says that while a T------------------n will undoubtedly be positive for crypto, there are still several ongoing cases that could prove troublesome to investors and developers.
Non-profit crypto advocacy group Coin Center has warned that even though a Trump win is a net positive for the crypto industry, entrenched policies could still scare crypto innovators away from the United States.
In a Nov. 21 blog post analyzing the landscape of US crypto policy following the 2024 e------n, Coin Center’s research director Van Valkenburgh shared three “grave threats” to the crypto users and developers in the US heading into 2025.
All three threats are described broadly as “surveillance issues” and range from tax reporting and Anti-Money Laundering (AML) policy to the ongoing criminal proceedings involving the crypto mixer Tornado Cash and Bitcoin wallet service Samourai Wallet.
Three “grave” threats to crypto
The first major threat comes from the crypto reporting requirements under Section 6050I of the US tax code, which currently mandates warrantless reporting to the IRS for those who have received $10,000 in crypto.
In August last year, Coin Center argued that these reporting requirements are unconstitutional.
The second and third major threats stem from the sanctions placed on Tornado Cash and include the criminal charges for unlicensed money transmission brought against the mixing service and Samourai Wallet.
Coin Center says the charges brought against Tornado Cash founder Roman Storm could set a worrying precedent for developers on non-custodial crypto services.
“At the agency level, there’s reason to believe that controversial ongoing rulemakings will be frozen or even abandoned due to President Trump’s generally pro-crypto stance and his likely choices for appointees at the SEC and Treasury.”
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However, Valkenburgh wrote that the new administration may not be interested in scaling back “overzealous” sanctions and AML policies.
“The [Department of Justice] may change under a T------------------n, but it rightly guards its political independence and may therefore be unlikely to abandon these prosecutions because of a change in administration,” Valkenburgh said.
“We’re nonetheless hopeful that there can be progress here if it becomes increasingly clear that even with a friendlier SEC, d-------n surveillance and control policies will continue to drive innovators away from the US, chill development, and deny ordinary Americans the benefits of these technologies.”
Valkenburgh added that the ongoing measures to prevent people from accessing crypto services do “very little to actually prevent criminals and t--------s” from using the tools.
@ Newshounds News™
Source: CoinTelegraph
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Source: Dinar Recaps
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