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Seeds of Wisdom
SHARK TANK’S KEVIN O’LEARY SLAMS SENATOR WARREN OVER GENIUS ACT: “UN-AMERICAN AND DANGEROUS”
▪️ Kevin O’Leary blasts Elizabeth Warren for politicizing the GENIUS Act, calling her stance “un-American.”
▪️ Warren opposes the bill over Trump-linked stablecoin ties and potential c--------n loopholes.
▪️ Despite the clash, the bipartisan GENIUS Act advances in the Senate, aiming to regulate stablecoins in the U.S.
Shark Tank investor and Canadian businessman Kevin O’Leary is firing back at Senator Elizabeth Warren over her opposition to the GENIUS Act – a bipartisan bill designed to regulate stablecoins in the United States.
O’Leary didn’t hold back, calling Warren’s stance “dangerous” and “un-American,” accusing her of blocking financial innovation by turning the bill into a political weapon against Donald Trump.
O’Leary: Warren Is Politicizing a Vital Crypto Bill
As crypto regulation becomes a bigger part of U.S. policy, O’Leary argues that Warren is distracting from the GENIUS Act’s core purpose. He says the bill is about modernizing the American financial system through properly regulated stablecoins – not about Trump or meme coins.
In a post on X, O’Leary stressed that the bill has nothing to do with Trump and warned that dragging politics into the conversation could hurt the country’s ability to lead in global finance.
According to him, the GENIUS Act is a step toward strengthening the U.S. dollar’s role in digital payments around the world. He believes Warren’s opposition risks slowing innovation and letting countries like China pull ahead in the race for financial dominance.
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“This is about establishing the U.S. dollar as the default currency for global price discovery,”
O’Leary said, dismissing Warren’s claims as “completely deranged.”
Warren’s Opposition to the GENIUS Act
Senator Warren opposes the bill, citing its ties to a $2 billion MGX-Binance deal involving USD1, which is a Trump-linked stablecoin.
She cautions that exemptions for senior officials, including the president, could give birth to c--------n, claiming the bill risks “greenlighting the grift.”
Warren argues that the bill could allow Trump to regulate his own financial product, undermining transparency and public trust.
GENIUS Act Moves Forward with Bipartisan Support
Despite Warren’s strong pushback, the GENIUS Act recently passed a key Senate hurdle. Several D-------s who were initially skeptical have now supported a revised version of the bill.
The bipartisan support signals growing momentum for establishing clear regulations for stablecoins – something many in the industry believe is essential for the future of digital finance in the U.S.
You can best believe that the debate is not over.
@ Newshounds News™
Source: Coinpedia
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SINGAPORE DOLLAR STABLECOIN XSGD DEBUTS ON XRP LEDGER IN RIPPLE-POWERED PAYMENTS PUSH
StraitsX has launched its MAS-regulated stablecoin XSGD on the XRP Ledger to enable faster, low-cost cross-border payments, as part of a broader multi-chain expansion strategy.
The move marks the first phase of a larger partnership with Ripple aimed at building institutional-grade digital infrastructure focused on tokenisation and real-time financial services.
StraitsX Brings Regulated XSGD to XRP Ledger
Payment infrastructure firm StraitsX has added its Singapore dollar-pegged stablecoin, XSGD, to the XRP Ledger (XRPL) in an attempt to extend its regulated token into a faster, low-cost cross-border payment system.
The expansion was announced Monday and is part of the company’s multi-chain strategy to meet growing demand from fintechs, financial platforms, and digital asset developers seeking programmable, real-time transaction tools across borders, according to the press release.
StraitsX framed this as the “first phase” of a wider collaboration with Ripple focused on tokenisation. While details remain vague, the rationale is to build a regulated, institutional-grade digital infrastructure that goes beyond payments.
A Glimpse Into the Future of Finance
The availability of XSGD on the XRP Ledger is more than a deployment. It’s a marker of where financial infrastructure is heading. As digital money becomes embedded in the global economy, regulated stablecoins like XSGD will serve as the foundation for borderless, real-time, and compliant-ready financial services.
Singapore’s Web3 Hub is Expanding
XSGD was issued by StraitsX in 2020, fully backed 1:1 by reserves held with DBS Bank and Standard Chartered. The company is licensed by the Monetary Authority of Singapore (MAS) as a Major Payment Institution, placing XSGD among the few stablecoins with both regulatory oversight and multi-chain deployment.
XSGD has over 8 billion on-chain transactions already, and a circulating supply above 13.6 million tokens. The stablecoin is live on Ethereum, Polygon, Hedera, Zilliqa, Arbitrum, and Avalanche.
@ Newshounds News™
Source: Crypto News
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Source: Dinar Recaps
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XRP NEWS: RIPPLE LAWSUIT IS NOT CLOSED, FORMER SEC LAWYER HINTS ‘BIGGER ISSUE’
▪️ Legal experts clarify Ripple-SEC lawsuit is not over; Judge Torres denied motions due to procedural errors.
▪️ False online claims spark confusion; attorneys warn XRP community to avoid premature conclusions about the case status.
There’s been a lot of chatter online lately about the status of the long-running legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). While some legal experts following the case closely believe it might take a few more months before a final verdict is reached, misleading claims and rumours continue to spread on social media.
Recently, a user named Altcoin Bale posted on X, claiming that the case was already closed, banks were quietly buying XRP, and retail investors would soon be priced out. But this statement didn’t sit well with pro-XRP attorney Bill Morgan, who has been actively tracking the lawsuit.
Bill quickly responded, saying, “FFS the case is not closed, or did you miss the news last week about an unsuccessful motion for an indicative ruling and an Appeal and Cross-appeal in abeyance but not over.”
Another user replied to Bill, saying that the case had hit a procedural snag because both Ripple and the SEC submitted a dismissal request using the wrong form. According to them, this technical error led the judge to reject it.
However, former SEC lawyer Marc Fagel stepped in, clarifying that the situation was far more serious than just a simple paperwork issue. “That is not an accurate description at all. It’s a far bigger issue than that,” he commented.
Bill Morgan, expressing his frustration, remarked, “The XRP community don’t want to listen. They want to hear ‘case closed, XRP to the moon.’”
So What Actually Happened?
For the unversed, here’s what actually happened: Judge Analisa Torres denied both parties’ motions for an indicative ruling. In simple terms, the judge stated that if the court’s jurisdiction were restored, she would deny the motion as it was filed under the wrong procedural rule.
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This means Ripple and the SEC will likely have to refile the motion correctly, and possibly plead their case once again.
While XRP supporters are eagerly awaiting good news, it’s clear from the legal experts’ comments that the lawsuit is still ongoing — and there are a few more legal hurdles to clear before any final outcome.
@ Newshounds News™
Source: Coinpedia
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BRICS: US HITS INDIA WHERE IT HURTS THEM THE MOST: REMITTANCE TAX
US President Donald Trump is looking to hit BRICS member India where it hurts them the most — the remittance tax. The new tax proposal by House Republicans could impact a significant number of Non-Resident Indians (NRIs), as the bill aims to levy a 5% tax on remittances sent to India from the US.
The bill was first introduced last Monday, where international transfers from non-citizens to BRICS country India will face a 5% tax. The bill, if passed, will affect workers who send money back to their families in India. The 5% tax will be used to help fund tax breaks and also tighten border security measures.
5% Remittance Tax Could Soon Hit BRICS Member India
Trump has publicly called the legislation “great” and “one big beautiful bill”, and is also ensuring that Republicans pass the legislation. The 5% tax on remittances to BRICS country India will potentially fund billions to the US Treasury.
The latest report highlights that Indian workers send close to $83 billion a year in remittances back to their families in India.
Therefore, a 5% tax could add close to $4.15 billion to the US Treasury if the new bill is passed. Currently, BRICS member India is the world’s top recipient of remittances.
If $100,000 is sent back home, then the IRS gets $5,000 through the remittance tax. Until 2025, remittance was never taxed in the US, making it a first-of-its-kind policy.
Legislation Timeline and Enforcement
The House Republicans aim to pass the bill on Memorial Day, May 26, 2025. Lawmakers hope to get the law signed and roll into action by July 4, Independence Day.
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Every financial institution and money transfer service will be tasked to collect the 5% remittance tax for money going to BRICS member India.
The rule will have no limit, and every transfer, including both big and small, will be subject to taxes.
@ Newshounds News™
Source: Watcher Guru
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Source: Dinar Recaps
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