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Seeds of Wisdom
What to Expect With US Crypto Policy as Congress Returns
Congress comes back into session with crypto market structure, CFTC leadership, and CBDC restrictions all on the table.
Senate Market Structure Push in September
After a month-long recess, lawmakers are returning to Washington with crypto legislation high on the agenda. Republican leaders in the Senate have signaled their priority will be advancing a bill on digital asset market structure.
In July, the House passed the Digital Asset Market Clarity (CLARITY) Act with bipartisan support, sending it to the Senate for further debate. Senator Cynthia Lummis, one of the chamber’s strongest voices for clearer regulation, expects the Senate Banking Committee to advance its version of the market structure bill by the end of September.
She predicted the measure could move through the Agriculture Committee in October and reach President Trump’s desk “before the end of the year.”
At present, neither the Banking nor Agriculture Committee has scheduled hearings.
CFTC Leadership in Flux
The Commodity Futures Trading Commission (CFTC) is also in transition. With Commissioner Kristin Johnson’s departure, Caroline Pham becomes acting chair and the sole remaining commissioner. The White House has nominated Brian Quintenz to lead the agency, but his confirmation remains uncertain.
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The Senate Agriculture Committee delayed a vote on Quintenz before recess, reportedly at the White House’s request. Trump donors Cameron and Tyler Winklevoss — initially supportive of Quintenz — later urged the president to reconsider, questioning whether he would fully advance Trump’s crypto agenda.
The Senate Banking Committee is expected to review several Trump nominations this week, but the Agriculture Committee has not yet set a date for Quintenz.
House Revisits CBDC Ban Through Defense Bill
The House already passed the Anti-CBDC Surveillance State Act in July, though with minimal D--------c backing. Now lawmakers are pursuing another route: adding a CBDC ban to the National Defense Authorization Act (HR 3838).
The revised version of the defense bill would prohibit the Federal Reserve from issuing a digital dollar, echoing provisions of the Anti-CBDC Surveillance State Act.
Whether the ban will survive intact through both chambers remains uncertain, as significant amendments are still likely.
Why This Matters
Congress’ fall session could prove decisive for U.S. crypto policy. The outcomes of the CLARITY Act, the CFTC chair nomination, and the CBDC debate will shape regulatory clarity, market oversight, and the future role of digital dollars in the financial system.
@ Newshounds News™
Source: Cointelegraph
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Gold Demand as Global Reserve Rises Fueled by Digitization: Is Bitcoin Next?
BRICS accumulation drives gold to its highest global reserve share in decades, raising questions about whether Bitcoin could be next.
Gold’s Rise in Global Reserves
The demand for gold as a global reserve currency has surged in the past year, driven by the BRICS nations’ dedollarization push. China, Russia, and their partners have accelerated purchases, boosting gold’s share of global reserves.
By the first quarter of 2025, gold rose 3% to around 24%, marking its highest share in 30 years. In contrast, the U.S. dollar fell 2% to 42%, its lowest level since the 1990s.
Gold overtook the euro in 2024 to become the world’s second-largest reserve asset, solidifying its role as a hedge against geopolitical and monetary risks.
Digitization Bolstering Gold’s Role
A key factor behind gold’s rising relevance is digitization. Tokenized gold on blockchain networks has expanded rapidly, with $2.59 billion in market value and a $492 million daily trading volume, according to CoinGecko.
Leading products like Tether Gold (XAUT) and PAX Gold (PAXG) provide investors and institutions a new way to access gold’s stability with blockchain efficiency. This digital layer further strengthens gold’s position as a modern reserve asset.
Why Bitcoin Could Follow Gold
Bitcoin, often called digital gold, is increasingly viewed by central banks and investors as a reserve alternative. Federal Reserve Chair Jerome Powell has acknowledged Bitcoin’s role as digital gold, reflecting its growing adoption as a hedge against inflation.
Institutional adoption has accelerated, with JPMorgan recently arguing that Bitcoin remains undervalued compared to gold. The bank set a midterm target of $126,000 per BTC, predicting corporate reserves will help fuel demand.
Nation-states are also beginning to follow the U.S. lead in holding strategic Bitcoin reserves. Unlike gold, Bitcoin’s fixed scarcity and real-world utility in payments make it a compelling alternative for the future of global reserves.
Key Takeaway
Gold’s resurgence as a global reserve asset underscores the accelerating move away from the U.S. dollar. With digitization fueling its accessibility, Bitcoin could be next in line to claim a larger role in the international monetary system.
@ Newshounds News™
Source: Coinpedia
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UAE’s RAK Properties to Accept Bitcoin and Other Cryptos for Real Estate Deals
The UAE strengthens its role as a global crypto hub as real estate giant RAK Properties opens the door to digital asset payments.
RAK Properties Embraces Crypto
RAK Properties, one of the largest publicly traded real estate companies in the Ras Al Khaimah emirate, announced it will now accept cryptocurrency payments for international property transactions.
The firm will support Bitcoin (BTC), Ether (ETH), Tether’s USDt (USDT), and other digital assets. Payments will be processed by Hubpay, a regional global payments platform that converts crypto into UAE dirhams before settlement.
“By enabling and supporting the use of digital assets, we are engaging with a new ecosystem of digitally and investment savvy customers,” said Rahul Jogani, Chief Financial Officer of RAK Properties.
Expanding Portfolio and Growth
RAK Properties, listed on the Abu Dhabi Securities Exchange since 2005, has a market capitalization of 4.7 billion dirhams ($1.3 billion). The developer is expanding aggressively in 2025 with 12 new projects underway.
In 2024, the company posted a 39% year-over-year net profit increase, reaching 281 million dirhams compared to 202 million dirhams the year prior.
UAE’s Crypto-Friendly Environment
The United Arab Emirates has become a global hotspot for crypto adoption thanks to clear regulations and a tax-free framework for digital asset profits.
Crypto adoption is accelerating across the country:
- Chainalysis data shows small retail crypto transactions in the UAE grew by over 75% year-over-year as of mid-2024.
- DeFi Technologies board member Chase Ergen predicts crypto could become the UAE’s second-largest sector within five years.
With its business-friendly policies and growing Web3 ecosystem, the UAE is positioning itself as a global hub for digital asset innovation and investment.
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Key Takeaway
By accepting crypto for property deals, RAK Properties is tapping into a growing base of international investors while reinforcing the UAE’s leadership in digital asset adoption.
@ Newshounds News™
Source: Cointelegraph
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Source: Dinar Recaps
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BRICS Could Worsen US Debt & Deficit Crisis, JPMorgan Reports
De-dollarization trends may deepen America’s $36 trillion debt burden as foreign financing dries up.
BRICS Dedollarization and US Fiscal Risks
JPMorgan has warned that the BRICS bloc’s push away from the U.S. dollar could exacerbate America’s growing debt and deficit crisis. With the U.S. deficit exceeding $36 trillion, reduced foreign appetite for Treasury bonds is creating a fragile outlook for U.S. borrowing costs.
According to the bank, global financing for U.S. debt is waning as BRICS accelerate dedollarization efforts. JPMorgan cautioned that this could trigger bond market disruptions “within months or even years.”
Tariffs Backfire, Strengthening BRICS Unity
The Biden administration’s 50% tariffs on India and Brazil have had unintended consequences, reinforcing BRICS solidarity rather than weakening it.
- India suspended arms purchases from the U.S.
- Brazil deepened coordination with BRICS partners.
Brazilian President Luiz Inácio Lula da Silva underscored the bloc’s anti-dollar stance:
“I do not need to continuously bow to the dollar.”
Meanwhile, China’s yuan now accounts for over 50% of its cross-border transactions, up from 25% in 2020. Globally, dollar reserves have fallen from 70% to about 58%, while DBS Bank reported a 30% surge in yuan trade settlements.
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Foreign Financing of U.S. Debt Declines
JPMorgan highlighted that foreign holdings of U.S. Treasuries have fallen to just 30% of total outstanding bonds, amplifying financing pressures.
The bank wrote:
“As the US government seeks to cut taxes to offset the impact of tariffs, financing needs are rising. Yet the world is now less willing to finance America’s deficit.”
Jamie Dimon’s Bond Market Warning
JPMorgan CEO Jamie Dimon echoed concerns about America’s fiscal trajectory, warning that the U.S. is running $2 trillion annual deficits—double the pre-pandemic levels of 2019.
“It’s a big deal, you know it is a real problem, but one day… the bond markets are gonna have a tough time. I don’t know if it’s six months or six years.”
Key warning signs:
- Interest expenses now exceed U.S. defense spending and Medicare costs.
- Moody’s downgraded the U.S. credit rating, citing debt ratios far above comparable sovereigns.
Reform Solutions for a BRICS-Driven Crisis
Dimon urged Washington to adopt growth-focused reforms to mitigate the impact of dedollarization and deficits:
- Pro-business deregulation and permitting reform
- Skills development and workforce expansion
- Anti-fraud and efficiency measures in government programs
“The real focus should be growth… that’s the best way,” Dimon said, stressing that reforms need not harm the vulnerable but should reduce waste and a---e.
Why This Matters
JPMorgan warns that if BRICS de-dollarization continues, the U.S. could face a permanent erosion of its borrowing power. Rising borrowing costs and shrinking foreign support for Treasuries risk pushing America into a cycle of higher deficits, weaker trade flows, and diminished dollar dominance—outcomes with profound global consequences.
@ Newshounds News™
Source: Watcher.Guru
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Source: Dinar Recaps
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