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Seeds of Wisdom
U.S. ANNOUNCES CHINA TRADE DEAL IN GENEVA
Secretary of the Treasury Scott Bessent: “I’m happy to report that we made substantial progress between the United States and China in the very important trade talks. First, I want to thank our Swiss host. The Swiss government has been very kind in providing us this wonderful venue, and I think that led to a great deal of productivity we’ve seen. We will be giving details tomorrow, but I can tell you that the talks were productive.
We had the vice premier, two vice ministers, who were integrally involved, Ambassador Jamieson, and myself. And I spoke to President Trump, as did Ambassador Jamieson, last night, and he is fully informed of what is going on. So, there will be a complete briefing tomorrow morning.”
U.S. Trade Representative Ambassador Jamieson Greer: “This was, as the Secretary pointed out, a very constructive two days. It’s important to understand how quickly we were able to come to agreement, which reflects that perhaps the differences were not so large as maybe thought.
That being said, there was a lot of groundwork that went into these two days. Just remember why we’re here in the first place — the United States has a massive $1.2 trillion trade deficit, so the President declared a national emergency and imposed tariffs, and we’re confident that the deal we struck with our Chinese partners will help us to work toward resolving that national emergency.”
@ Newshounds News™
Source: The White House
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BRICS OR THE US? SAUDI ARABIA MAY HAVE CHOSEN A SIDE AMID THE FACEOFF
Since the start of the year, the BRICS economic alliance and the US have seen tensions explode, and Saudi Arabia has unwillingly sat at the center. Indeed, their issues have reached a fever pitch amid a brewing trade war between the United States and China. Now, all eyes are on Riyadh and where its loyalties could lie in a geopolitical sense.
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The country was among the first to be included in the bloc’s landmark expansion plan. However, since accepting an invitation to join, Saudi Arabia has yet to fully become a part of the collective. Now, that may never come, as it stands in a complicated position with both allies.
Saudi Arabia Stands at the Center of US & BRICS Conflict: Which Side Are They On?
Since his return to the White House, US President Donald Trump has not minced words regarding the BRICS bloc. Indeed, he warned that the bloc would face a 150% tariff for its attempts at creating a currency to rival the US dollar. Moreover, it has hit China with import duty increases as high as 245% amid its ongoing challenges.
Those issues have only continued to fester throughout the year. Moreover, it has created a rather uncertain geopolitical dynamic for one nation at the center. Specifically, as the BRICS and the US face off, Saudi Arabia may soon be forced to choose a side. That is, if it hasn’t already done so.
Saudi Arabia was present at a BRICS meeting last week, according to sources. Moreover, it is still considered a potential BRICS nation after accepting its invitation to join as an expanding country.
However, that may not tell the whole story. Specifically, the country is worried that its BRICS relations will threaten its partnership with the US, Reuters reports.
Saudi Arabia “does not want to risk US anger as negotiations are underway in Washington,” the report noted. This created a notable balancing act between its US and Chinese relations. On the one side, China is its biggest oil exporter. Alternatively, Washington is a key security and tech partner.
The decision may have already been made due to its inaction; however, Riyadh has yet to officially join BRICS. Therefore, it may be able to salvage its relationship with China on its own. Subsequently, ensuring its partnership with both nations could endure, with only BRICS suffering in the end.
@ Newshounds News™
Source: Watcher Guru
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D--------C SENATORS PROPOSE BAN ON CRYPTO PROMOTION BY TRUMP, SENIOR GOVERNMENT OFFICIALS AMID STABLECOIN BILL SPAT
▪️ A group of 20 D--------c Senators__ has introduced legislation that would ban the creation and promotion of cryptocurrencies by the President, Vice President, Congress, and Senate-confirmed Cabinet members, among some others.
▪️ The legislation was introduced amid growing tensions__ over the Senate’s stablecoin bill, after a number of D-------s withdrew their support from the current version of the bill.
▪️ The bill would attempt to prohibit Trump and Melania from profiting from their memecoins, though it would not necessarily impact the World Liberty Financial project.
▪️ Elon Musk, as a Special Government Employee, would also be barred from promoting crypto.
A group of 20 D--------c Senators have unveiled new legislation that seeks to prohibit senior government officials from issuing or endorsing cryptocurrencies, as key D-------s raise concerns about President Trump’s business dealings in the crypto sector.
The so-called “End Crypto C--------n Act of 2025” would prohibit the President, Vice President, members of Congress, individuals appointed to Senate-confirmed positions, and certain other special government employees in the Executive Office, plus their spouses and dependent children, from issuing, sponsoring, or endorsing any cryptocurrencies or other digital assets.
One such special government employee: Elon Musk, alongside other members of the Department of Government Efficiency (DOGE) team. Musk recently clarified that the department has no plans to use the memecoin of the same name in its official capacity.
Normal sale transactions would be permitted in the current form of the bill, which imposes fines and possible jail times on offenders. The bill covers government employees and their families during their term and for one year after, and was introduced on May 7.
The bill, the Senate counterpart of similar House legislation introduced earlier this year, is the latest response to the escalating political negotiations over the Senate’s stablecoin bill.
A number of Senate D-------s voted against the legislation in its current form, accusing Republicans of not compromising on key issues like anti-money laundering legislation and foreign issuer oversight.
The bill seeks to prevent President Trump and his wife Melania from profiting from their memecoins, which were issued shortly before the inauguration. $TRUMP has recently traded higher after Trump announced its top holders would be personally invited to a White House dinner, raising conflict of interest concerns from some D-------s.
However, it’s unclear whether Trump’s position as “chief crypto advocate” at the World Liberty Financial firm — more closely associated with his sons and senior administration members — would be prohibited under the bill in its current form.
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Senate D-------s have recently raised concerns about a planned $2 billion deal between an Abu Dhabi investment firm and Binance with the firm’s WLD1 stablecoins.
“Our concerns about Binance’s compliance obligations are even more pressing given recent reports that the company is using the Trump family’s stablecoin to partner with foreign investment companies,” several D--------c senators wrote last week.
Senator Elissa Slotkin (MI), a co-sponsor of the bill, told Michigan Advance that preventing Trump from profiting from his memecoin is more pressing than broader crypto regulation:
“We’ve got a more immediate crocodile closer to the boat, and that’s the president of the United States, selling his own currency and marketing his own currency and using it as a form of payment to line his pockets,” Slotkin said.
@ Newshounds News™
Source: The Block
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Source: Dinar Recaps
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US HOUSE PASSES CONTROVERSIAL STABLECOIN BILL BACKED BY TRUMP, DIVIDES D-------S
▪️ The House passed the Stablecoin Innovation and Protection Act of 2025 late Thursday.
▪️ The bill, supported by President Trump, aims to create a federal framework for stablecoin issuance while preserving state-level oversight.
▪️ D-------s remain split over the bill’s impact on consumer protections, foreign issuers, and financial surveillance.
The U.S. House of Representatives has passed the Stablecoin Innovation and Protection Act of 2025, a landmark piece of crypto legislation backed by President Donald Trump. The legislation, which passed with significant Republican support, proposes a federal framework for stablecoin issuance and sets broad new guidelines for how both private and public entities may issue and manage digital dollar-pegged tokens.
While the bill preserves some roles for state regulators—allowing entities like Wyoming’s digital asset office to license issuers—it also gives the U.S. Treasury, Federal Reserve, and SEC more say in oversight, compliance, and financial stability risks.
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President Trump called the passage a “historic win for American financial innovation”, noting that the bill will help the United States “compete with foreign stablecoins and preserve dollar dominance.”
Still, D-------s remain deeply divided. Some, including Rep. Richie Torres (D-NY), backed the legislation, arguing that clear rules would help w--d out bad actors and prevent future Terra-style collapses.
Others, including Rep. Maxine Waters (D-CA), warned that the bill “guts core consumer protections” and would “allow foreign and unvetted entities to flood the market with opaque dollar tokens.“
The bill contains provisions that bar federal agencies from banning privacy-preserving technologies in stablecoin wallets but allows the Treasury to block specific transactions or protocols if national security risks are found. The move was seen as a concession to civil liberties groups and more libertarian-leaning Republicans.
Additionally, the bill defines what constitutes a “payment stablecoin” and allows registered institutions—like banks or licensed money services businesses—to issue them, provided they maintain 1:1 reserves in highly liquid assets such as dollars, Treasury bills, or central bank reserves.
However, it’s the international implications that may be most contentious. The bill would allow U.S.-licensed foreign firms to issue stablecoins within the U.S. market, so long as they report to U.S. regulators and pass quarterly audits. That move drew criticism from some lawmakers who fear it will benefit firms tied to adversarial governments.
Rep. Katie Porter (D-CA), who voted against the bill, said: “We are green-lighting a digital dollar shadow economy before we’ve even set the rules of the road.“
The bill now heads to the Senate, where its prospects remain uncertain. Senate Banking Chair Sherrod Brown (D-OH) has yet to endorse the bill and is said to be drafting a competing version with tighter controls on foreign issuers and stricter anti-money laundering requirements.
For now, the House victory gives Trump a significant policy win as crypto continues to be a major wedge issue ahead of the 2026 midterm e-------s.
@ Newshounds News™
Source: The Block
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GDP OF BRICS COUNTRIES OUTPERFORMS GLOBAL AVERAGE, US DISTANTLY BEHIND
The GDP of BRICS countries has outperformed market expectations and is exceeding the global average in 2025, according to the World Economic Outlook report published by the International Monetary Fund (IMF). The US, on the other hand, is distantly behind as its economy is growing in a limited manner this year.
In 2025, BRICS countries—Brazil, Russia, India, China, and South Africa—saw a combined growth of 3.4%, which exceeded expectations. The current consensus forecast predicts the GDP growth of the US at only 1.4% in 2025. The US economy is lagging behind this year with minimal growth, and the tariffs are threatening what little is left.
Below is the list of BRICS countries’ GDP projections for 2025:
- Ethiopia (6.6%)
- India (6.2%)
- Indonesia (4.7%)
- United Arab Emirates (4%)
- China (4%)
- South Africa (3.4%)
- Brazil (2.3%)
BRICS GDP Shines in 2025, US Economy On the Razor’s Edge
The latest data from the IMF also shows that BRICS accounts for 40% of the global GDP in 2025. That’s massive, as they already cover nearly half of the world’s economy. Their Purchasing Power Parity (PPP) is projected to reach 41% this year, signifying that the alliance is growing rapidly.
“There is no way that BRICS is not relevant, given the size of its population (and GDP in 2025). And there are also countries that are key in the supply of commodities, such as Brazil and Russia, which supply energy, food, and even very important strategic minerals,” said Rodrigo Cezar, Professor of International Relations at the Getulio Vargas Foundation (FGV) and a specialist in international political economy.
“So the BRICS countries are going to be very relevant in terms of dictating or giving direction to the prices of these materials,” leaving the US economy under its mercy, explained Cezar.
BRICS GDP could pressurize the markets in 2025, leading to it dominating the prices of the commodity markets this year.
@ Newshounds News™
Source: Watcher Guru
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Source: Dinar Recaps
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