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Seeds of Wisdom
FOMC MEETING TODAY: WILL POWELL’S SPEECH TRIGGER A CRYPTO RALLY OR SELL-OFF?
Bitcoin dropped below $83,000 early Wednesday, while Ethereum, Solana, and XRP saw slight ups and downs. The Market Fear & Greed Index hit 23, showing traders are feeling cautious as the market stays uncertain.
The current situation is keeping the crypto market on edge as the Federal Open Market Committee (FOMC) meeting nears its conclusion today. Investors are closely watching the Federal Reserve’s decision on interest rates, as any shift in policy could send ripples through the market. While most analysts expect rates to remain between 4.25% and 4.5%, the Fed’s outlook for future cuts is the real wildcard.
No Rate Cuts Yet, But Hints Matter
Fed Chair Jerome Powell has repeatedly stressed caution, pointing to inflation and economic uncertainty as reasons to hold rates steady. Current expectations suggest that meaningful rate cuts might not come until mid-2025. However, Powell’s post-meeting statements could shape investor sentiment. If he hints at easing sooner than expected, risk assets like Bitcoin and altcoins could see a surge. On the other hand, a continued hawkish stance may add selling pressure to the market.
However, as per QCP Capital’s latest report, they don’t expect a surprise rate cut from the Fed but warn that any dovish hint from Powell could drive markets higher. Investors are shifting money away from Bitcoin and NASDAQ stocks and into European and Chinese markets, signaling a possible change in capital flows. The market’s reaction after the FOMC meeting could determine the next big move for risk assets.
Bitcoin in a Tight Spot
Bitcoin has been fluctuating around $85K, with traders preparing for potential turbulence. Higher interest rates generally favor traditional investments like bonds and savings accounts, pulling capital away from speculative assets such as crypto. If the Fed sticks to its high-rate policy, liquidity may tighten further, which could lead to a market downturn.
Can Altcoins Benefit from Rate Cut Signals?
Despite concerns, a shift in Fed policy could spark optimism. The U.S. Consumer Price Index (CPI) has declined from 3.1% to 2.8%, indicating some progress on inflation. If Powell acknowledges this trend and suggests that rate cuts are coming soon, risk appetite could increase, benefiting altcoins in particular.
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The next 24 hours are crucial. If the Fed doubles down on its hawkish stance, crypto markets may face further losses. However, if there’s a signal of rate cuts in the near future, the market could rally. Investors are watching Powell’s every word, as his tone will dictate the next big move in crypto.
@ Newshounds News™
Source: Coinpedia
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BRICS: NEW COUNTRY PLANS TO REDUCE 25% OF TRADE WITHOUT US DOLLAR
The number of countries apart from BRICS that are planning to ditch the US dollar for trade and commerce is increasing alarmingly. Developing countries worldwide are looking to use local currencies and sideline the greenback for cross-border transactions. This adds pressure on the USD as it could lose out on the supply and demand mechanism in the currency markets.
If more nations end reliance on the currency, the cost of daily essentials could skyrocket in the homeland. The USD stands at the crosshairs of a global change that could dim its lights and send it towards the path of decline.
BRICS: Venezuela Says 25% of Trade Can Be Conducted Without the US Dollar
Venezuelan Foreign Minister Yvan Gil said that 25% of trade can be conducted without depending on the US dollar. He cited that local currencies can be used for trade among like-minded nations to boost their overall economies. He spoke highly of the BRICS alliance saying that the bloc ushered the world into a new financial era
“At least 25% of global trade operations can be conducted without being tied to the dollar which will be a significant step towards greater financial independence of countries subject to sanctions,” said Gil. He noted that the development became possible with BRICS as the rise of a multi-polar world brought changes in trade settlements.
However, despite attempts to join BRICS, Venezuela was denied entry into the bloc. The upcoming summit in July could decide its fate as Brazil chairs the discussions.
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In conclusion, one thing is clear, BRICS is providing confidence to developing countries to ditch the US dollar. Emerging economies find the de-dollarization ideals daring and lucrative that can change the global financial order.
@ Newshounds News™
Source: Watcher Guru
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Source: Dinar Recaps
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BIG BREAKING: SEC DROPS XRP CASE, RIPPLE CEO CONFIRMS
The SEC drops its lawsuit against Ripple after four years, marking a major legal victory for XRP and the crypto industry.
Ripple CEO Brad Garlinghouse calls the SEC case a “flawed attack on crypto” as regulators retreat from their claims against XRP.
After more than four years of legal battles, the U.S. Securities and Exchange Commission (SEC) has officially dropped its lawsuit against Ripple Labs (pending vote of the commission).
The case, which was filed in December 2020, a*****d Ripple of conducting an unregistered securities offering by selling XRP.
Ripple’s CEO, Brad Garlinghouse expressed relief and pride as he reflected on the outcome. “It’s over,” Garlinghouse said, explaining how the case marked a pivotal moment in the ongoing struggle for clarity in the cryptocurrency industry. “Looking back on four years ago, it’s clear to me that this case was flawed from the start. It was the first major s**t fired in the war against crypto.”
Garlinghouse went on to explain that, while Ripple faced huge challenges, the company always believed it was on the right side of history.
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“I knew we weren’t on the wrong side of the law, and I believed we’d ultimately be proven right. Today’s outcome is a victory for innovation and a long-overdue surrender by the SEC under Chairman Gary Gensler.”
This decision is seen as a major win for the cryptocurrency industry, as it represents the first successful fight against the SEC’s broad interpretation of securities laws applied to digital assets. Garlinghouse credited Ripple’s resources, determination, and grit for pushing back against regulatory agencies.
For many in the crypto community, the SEC’s action was seen as an effort to intimidate the industry, using arguments that they claimed were meant to protect investors but ultimately did more harm than good.
As the crypto industry continues to grow, Ripple’s victory signals a turning point in regulatory efforts, reinforcing the need for clearer guidelines that support innovation without stifling progress.
@ Newshounds News™
Source: Coinpedia
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DUBAI LAUNCHES TOKENIZATION SANDBOX
The Dubai Financial Services Authority (DFSA) has launched a tokenization sandbox and is accepting expressions of interest through to April 24. The DFSA is the regulator for the Dubai International Finance Centre (DIFC).
Applicants could be involved in the issuance, trading, holding, or settlement of tokenized assets. Cryptocurrencies are excluded along with stablecoins. The financial instruments that are tokenized should be similar to conventional securities including equities, bonds, sukuk and collective investment fund units.
As with most sandboxes, the aim is to relax certain regulatory requirements under the supervision of the regulator. Hence, it’s open to companies whether or not they are already DIFC-regulated. If accepted they will be granted a special Innovation Testing License (ITL) that will last from six to twelve months. It appears that the rule relaxations might be assessed on a case-by-case basis. At the end of the ITL period, the entity either will be awarded a full DIFC license or the ITL license will be terminated.
The program supports live market testing and helps firms to clarify the tokenization requirements in the DIFC.
Tokenization rules were introduced in the DIFC in 2021. They support trading by consumers without intermediaries but access must be permissioned, although this doesn’t necessarily rule out the use of a public blockchain.
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Tokenization regulations include some additional requirements compared to conventional securities, including informing the DFSA regarding custody arrangements and technology audits.
@ Newshounds News™
Source: Ledger Insights
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LIVE UPDATES: FED LEAVES INTEREST RATES UNCHANGED, BUT FORECASTS FUTURE CUTS
The Federal Reserve took a wait-and-see approach to an uncertain US economy Wednesday, opting to leave interest rates unchanged at the close of its March meeting.
That decision leaves the benchmark federal funds rate parked at a range of 4.25% to 4.5%, where it has sat since December. The Fed has now stood on the economy’s sidelines for two consecutive meetings, dating to January, after an unusually busy period of interest rate increases and reductions over the previous three years.
The Fed also kept its forecast for two cuts in 2025.
“We do not need to be in a hurry to adjust our policy stance, and we are well-positioned to wait for greater clarity,” said Fed Chair Jerome Powell during a news conference. In Powell’s remarks, “clarity,” or the lack of it, emerged as a recurring theme.
@ Newshounds News™
Source: USA Today
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Source: Dinar Recaps
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BITNOMIAL SET TO LAUNCH CFTC-APPROVED XRP FUTURES ON MARCH 20, WITHDRAWS SEC LAWSUIT
The decision comes following the SEC dropping its lawsuit against Ripple on the XRP case.
Bitnomial will launch its CFTC-approved XRP futures contracts on March 20 and drop its lawsuit against the US Securities and Exchange Commission.
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The firm said its decision to withdraw its lawsuit was driven by the regulator’s move to abandon legal action against Ripple.
According to the March 19 announcement, the contracts will be physically settled, providing a new regulated trading instrument for institutional and retail investors’ exposure to XRP.
Regulatory improvement
Bitnomial clients will gain access to XRP futures immediately at launch. In contrast, prospective clients can onboard through Futures Commission Merchant (FCM) partners, including R.J. O’Brien and Associates, Marex Capital Markets, and Bitnomial Clearing.
The introduction of these contracts follows the broader trend of increased regulatory clarity in the crypto sector, particularly as legal developments reshape the landscape for digital assets.
One such development was Ripple’s decisive victory against the SEC. The regulator formally dropped its appeal in the long-standing legal battle over XRP’s classification. Ripple CEO Brad Garlinghouse confirmed the resolution on March 19, calling it a significant moment for the industry.
Initiated in December 2020, the case a*****d Ripple of conducting unregistered securities sales worth $1.3 billion. A key ruling in August 2024 determined that XRP is not a security when traded on public exchanges, although penalties were upheld for institutional sales.
The ruling ordered Ripple to pay $125 million in penalties, significantly lower than the SEC’s original demand of nearly $2 billion.
The regulator and Ripple appealed the decision, with the SEC ultimately deciding to let go of its appeal. However, Ripple’s appeal to avoid the fine and clear XRP’s status as security on institutional sales is still up.
Bitnomial ends lawsuit against SEC
In tandem with the launch of its XRP futures, Bitnomial announced it has voluntarily dropped its lawsuit against the SEC.
The firm had sued the regulator in October 2024 over jurisdictional disputes concerning futures contracts based on XRP’s price.
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Bitnomial initially filed for its XRP futures product in August 2024 after the federal ruling that XRP is not a security, challenging the SEC’s stance on overseeing XRP derivatives.
The firm’s decision to dismiss its case is based on the shifting regulatory environment and improving clarity regarding digital asset classification.
@ Newshounds News™
Source: CryptoSlate
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PRESIDENT TRUMP TO SPEAK AT DIGITAL ASSETS SUMMIT TOMORROW
President Donald Trump will make history as the first sitting U.S. president to speak at a Bitcoin and crypto conference, delivering remarks at Blockworks’ Digital Asset Summit (DAS) in New York City tomorrow.
President Donald Trump is expected to deliver a speech at Blockworks’ Digital Asset Summit (DAS) in New York City on March 20. This will be the first time a sitting U.S. president has addressed a Bitcoin and crypto conference, highlighting the growing influence of digital assets in mainstream financial policy.
Although this marks his first speech as a sitting president at a crypto event, Trump has previously engaged with the Bitcoin community, having spoken at the world’s largest Bitcoin conference in Nashville last summer while on the campaign trail. His return to the stage now as president further highlights the continued support from the U.S. government on Bitcoin.
Trump’s speech at DAS comes only a couple weeks after moving forward with officially integrating Bitcoin into his national strategy, when he signed an executive order establishing the U.S. Strategic Bitcoin Reserve, positioning BTC as a key asset for the country’s financial future.
Joining the lineup tomorrow at DAS is Strategy’s Michael Saylor, who will deliver a keynote speech and engage in a fireside chat with Bitcoin historian Pete Rizzo.
Additionally, Bloomberg ETF analyst James Seyffart will host a panel discussion with BlackRock’s Head of Digital Assets Robbie Mitchnick and Nasdaq’s Head of U.S. Equities & Exchange-Traded Products Giang Bui, where they will delve into the evolving landscape of Bitcoin ETFs and institutional adoption.
The announcement of Trump’s participation follows remarks from Bo Hines, Executive Director on Digital Assets for President Trump, who spoke earlier this week at DAS. Hines reaffirmed the administration’s commitment to accumulating Bitcoin for the Strategic Bitcoin Reserve, stating:
“I think it’s high time that our President started accumulating assets for the American people, which is what President Trump is doing rather than taking it away.”
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He also emphasized the administration’s approach to acquiring Bitcoin in budget-neutral ways, likening BTC accumulation to gold reserves:
“You know, I’ve been asked all the time, it’s like how much do you want? Well, that’s like asking a country how much gold do you want – as much as we can get.”
Trump’s executive order has already sparked legislative action aiming to build on this momentum. Senator Cynthia Lummis and Congressman Nick Begich have each proposed plans for the U.S. to acquire 1 million BTC over the next five years, ensuring a long-term reserve of the scarce asset.
Earlier today at DAS, House Majority Whip and Congressman Tom Emmer stated that he believes this legislation will be enacted “before this congress is done.”
@ Newshounds News™
Source: Bitcoin Magazine
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Source: Dinar Recaps
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