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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)
Seeds of Wisdom
EL SALVADOR TO EXTEND CRYPTO AGREEMENTS BEYOND ARGENTINA
El Salvador partners with Argentina to strengthen the digital assets industry, and has talks underway with over 25 nations for similar partnerships.
El Salvador signed a mutual agreement with Argentina to help both countries strengthen their digital asset industries. The Bitcoin-friendly nation is also discussing similar agreements with over 25 other countries.
On Dec. 11, Juan Carlos Reyes, president of the National Commission of Digital Assets (NCDA) in El Salvador, announced the signing of a mutual collaboration and training agreement with Roberto Silva, president of Argentina’s National Securities Commission (CNV).
Speaking to Cointelegraph, Reyes said Argentina’s robust and innovative blockchain industry and El Salvador’s technological expertise will “create a highly productive partnership.”
Highlighting El Salvador’s three-year advantage over most countries in digital assets regulation, Reyes said, “One of the most significant immediate benefits will be information sharing, particularly since we have Argentine companies registered in El Salvador.”
Symbiotic partnerships for mutual benefit
El Salvador plans to refine its own regulatory framework and improve its understanding of the digital assets market through its partnership with Argentina. Additionally, Reyes told Cointelegraph that El Salvador regulators are in talks with multiple nations for similar crypto-focused partnerships:
“We are currently in discussions with over 25 countries and anticipate many more agreements in the future. As a regulator, we recognize that our approach may be unconventional since we are not what they are used to a central bank or other legacy entity, which has led to some delays in understanding how we can collaborate with other countries.”
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El Salvador seeks cross-border collaboration to further crypto adoption
To effectively collaborate with other nations, El Salvador has set up a team of over 20 members comprising Bitcoin experts and crypto-literate individuals.
Reyes strongly advised against delaying establishing rules and following Financial Action Task Force (FATF) recommendations, giving a clear message to regulators in other jurisdictions:
“The longer you wait, the more challenging it becomes to implement effective regulations, and the greater the risk of scams and money launderers gaining control of the industry.”
Reyes also told Cointelegraph that El Salvador is “nearing completion of two more agreements with other countries,” emphasizing his team’s commitment to helping any nation interested in collaborating with El Salvador.
“Our experience has shown that cross-border knowledge sharing is essential for creating a safe and effective regulatory environment, and we encourage other regulators to prioritize this approach,” he said.
@ Newshounds News™
Source: CoinTelegraph
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DONALD TRUMP CONSIDERING A16Z CRYPTO POLICY HEAD FOR CFTC ROLE: BLOOMBERG
While Brian Quintenz was a CFTC commissioner, he oversaw the launch of the first regulated Bitcoin and Ethereum futures contracts.
President-elect Donald Trump is reportedly considering Brian Quintenz, a former Commodity Futures Trading Commission (CFTC) commissioner, to lead the agency.
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Currently serving as the policy lead for VC giant Andreessen Horowitz’s crypto division, Quintenz has emerged as a frontrunner among candidates, according to sources cited in Bloomberg’s report.
An announcement is expected in the coming days following the conclusion of interviews for the chair position.
Other candidates reportedly include current CFTC Commissioners Summer Mersinger and Caroline Pham, as well as legal experts Joshua Sterling and Neal Kumar.
If selected, Quintenz would bring a wealth of experience from both the public and private sectors.
During his tenure at the CFTC, he oversaw the launch of the first regulated Bitcoin and Ethereum futures contracts and promoted discussions on decentralized finance (DeFi).
Quintenz’s pro-innovation stance complements Trump’s apparent focus on fostering a supportive environment for the crypto industry, which played a significant role in the 2024 e*******s.
Andreessen Horowitz alone donated $25 million and $23 million, respectively, to pro-crypto political candidates through its political action committee, Fairshake.
Since joining a16z Crypto, Quintenz has remained an outspoken advocate for crypto-friendly policies, calling for regulations tailored to blockchain technology.
He has criticized the U.S. Securities and Exchange Commission’s (SEC) approach as overly restrictive, noting that the crypto ecosystem needs rules “fit for purpose” to realize its full potential.
“I think what the crypto ecosystem wants is rules that fit its technology, that are fit for purpose, that allow for the innovation to actually reach its full potential,” Quintenz said in a 2022 interview with Decrypt. “You’re not getting that out of the SEC.”
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The CFTC chair position is critical as the agency is expected to tackle major policy shifts, particularly amid jurisdictional tensions with the SEC.
If confirmed, Quintenz would oversee a regulatory environment primed for change.
@ Newshounds News™
Source: Decrypt
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Source: Dinar Recaps
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TEXAS LAWMAKER PROPOSES STRATEGIC BITCOIN RESERVE
Texas Representative Giovanni Capriglione proposed a taxpayer-free Strategic Bitcoin Reserve.
Texas State Representative Giovanni Capriglione has introduced a bill to establish a Strategic Bitcoin Reserve for the state.
The announcement was made during a discussion on Spaces hosted by Dennis Porter of the Satoshi Action Fund, an organization focused on Bitcoin policy advocacy.
Key provisions of the bill include:
▪️ Acquiring Bitcoin as a reserve asset.
▪️ Storing the Bitcoin in cold storage for a minimum of five years.
▪️ Allowing residents to contribute Bitcoin donations.
▪️ Ensuring transparency through annual reports and audits.
▪️ Permitting state agencies to accept cryptocurrencies and convert them into Bitcoin.
▪️ Establishing guidelines for security and reserve management.
The bill specifies that it will take effect immediately if passed with a two-thirds majority in both legislative houses; otherwise, it will become effective on September 1st, 2025.
This proposal aligns with broader interest in Bitcoin reserves in the U.S. and globally. Earlier this year, a similar federal Strategic Bitcoin Reserve bill was introduced by Senator Cynthia Lummis.
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Other states, such as Pennsylvania, and countries including Russia and Brazil, have also put forth similar initiatives.
Lee Bratcher, President of the Texas Blockchain Council, expressed support for the proposal, highlighting Representative Capriglione’s leadership role and noting that the plan does not involve taxpayer funding.
The bill’s progress will depend on legislative deliberation and public feedback, as its implications for Texas’s financial strategy and digital asset policy come under consideration.
@ Newshounds News™
Source: BTC Times , X .com
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RAY DALIO SAYS TO INVEST IN BTC AND GOLD, NOT DEBT ASSETS: REPORT
Dalio says he is investing in BTC and gold, not debt assets because the latter would lose their value due to an incoming debt crisis among major economies.
Ray Dalio, an American investor and founder of the world’s largest hedge fund, Bridgewater Associates, says he is investing in bitcoin (BTC) and gold rather than debt assets.
The billionaire, who now serves as Bridgewater Associates’ investment chief, is more interested in the precious metal and cryptocurrency because they are “hard money.”
On the other hand, debt assets like bonds are to be avoided because major economies are bound to face debt crises in the coming years, leading to a decline in their value.
BTC and Gold Over Debt Assets
According to a report from the South China Morning Post, Dalio dropped his remarks on BTC and gold during a speech on December 10 at the Abu Dhabi Finance Week (ADFW).
He stated that all major economies, including the United States, China, and, excluding Germany, are seeing their indebtedness surge to unprecedented levels. Unfortunately, these levels are unsustainable, and there could be a debt money problem in the future.
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“I believe that there would likely be a pending debt money problem. I want to steer away from debt assets like bonds and debt and have some hard money like gold and bitcoin,” Dalio said.
The billionaire further explained that debt, money, the economy, acts of nature, and the invention of new technologies are the forces driving everything in the world. Other factors, such as countries’ political and external geopolitical orders, could contribute significantly.
Judging by Dalio’s preference for BTC and gold, he believes these assets are the best for preserving wealth as the world reacts to these forces.
“Don’t get too c****t up on the twists and turns of the day-to-day headlines, and instead, think more about the big forces. Think strategically as well as tactically, taking a global perspective while recognizing that what you don’t know about the future is more than what you do know,” the Bridgewater founder added.
BTC Exceeds Dalio’s Expectations
Dalio used to be a Bitcoin critic a few years ago. In 2020, he opined that the crypto asset is unlikely to perform as remarkably as people hoped. Bitcoin was worth around $15,000 at the time.
Four years later, Dalio has become a Bitcoin advocate and now considers the cryptocurrency a better option than debt assets, especially with BTC crossing $100,000 for the first time.
@ Newshounds News™
Source: CryptoPotato
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ROGER VER CLAIMS US TARGETS HIM FOR BITCOIN ADVOCACY, NOT TAXES
Roger Ver, also known as “Bitcoin Jesus,” contests US DOJ tax evasion charges, alleging political retaliation over his crypto advocacy.
Roger Ver, widely known as “Bitcoin Jesus” for his early promotion of cryptocurrency, is contesting charges made against him by the United States Department of Justice (DOJ).
Ver, who renounced his US citizenship in 2014, was arrested in Spain in April. US authorities are seeking his extradition on charges including tax evasion, mail fraud and filing false tax returns.
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Prosecutors claim Ver undervalued his assets and failed to report ownership of about 131,000 Bitcoin. He denied the a*********s in an interview with Tucker Carlson on Dec. 10.
“I wasn’t an American citizen or living in the US at the time these claims were made,” Ver said. He a*****d the US government of being “angry” not about taxes but about his “lack of obedience.”
Legal history
According to the DOJ, Ver failed to report significant capital gains from Bitcoin sales and underreported the value of two companies when he renounced his US citizenship in 2014.
Prosecutors allege Ver concealed 131,000 BTC, worth nearly $240 million at the time of sale in 2017, leading to a $48 million tax shortfall.
Ver’s defense argues the a*********s are outdated and stem from ambiguous cryptocurrency tax laws. His legal team also contends that US prosecutors misused confidential communications and violated legal protections.
Political retaliation claims
In the interview with Carlson, Ver insisted that the charges don’t stem from tax charges but from his high-profile promotion of cryptocurrencies, which he believes threatens government control of money systems.
He also said that US intelligence agencies orchestrated a campaign to suppress BTC’s original goal of decentralization.
The Bitcoin evangelist also linked his indictment to the recent publication of his book, which he claimed exposes government interference in the cryptocurrency industry.
Tax evasion charges dismissal
On Dec. 3, Ver moved to dismiss the US tax evasion charges by claiming the case was “unconstitutional” and arguing that the Internal Revenue Service’s (IRS) exit tax was “inscrutably vague.”
In the filing, he said that the charges relied on “provisions of the US tax laws” that were unclear about the “application to digital assets of the kind that underlie the charges.”
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The IRS exit tax requires that US citizen pay all required taxes before renouncing their citizenship and removing themselves from the country’s taxation system.
@ Newshounds News™
Source: CoinTelegraph
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Source: Dinar Recaps
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