Good Evening ,
BRICS: BRAZIL REITERATES NEED TO END US DOLLAR, WILL 150% TARIFFS FOLLOW?
The ongoing tension between the global south and west has been a key matter of geopolitical uncertainty. That may only take a step forward as the BRICS 2025 president, Brazil, has reiterated its need to end the US dollar as 150% tariffs loom large over the nation.
Speaking on the alliance’s operations, Brazil president Luiz Inacio Lula Da Silva noted that the group will not cease its de-dollarization approach. However, that may come with steep consequences. Indeed, US President Donald Trump has warned that there will be import taxes levied on nations that he views are seeking to “destroy” the greenback.
Brazil Re-Commited to Ditching the US Dollar: Will It Face Trump’s 150% Tariffs?
The BRICS economic alliance operates on a rotating chairmanship model. This means that the alliance will be under the guidance of a shifting presidency, with one nation taking the mantle at the start of the year. In 2025, it is Brazil that is taking that position, and it is already standing firm on what it expects of the bloc.
Amid the growing tension between BRICS and the United States, Brazil has reiterated its need to end the US dollar dominance despite 150% tariffs being threatened on such countries.
Earlier this year, the bloc rejected a BRICS currency plan. However, that hasn’t forced it to change its tone on the group’s relationship with the greenback.
“US President Donald Trump’s threats of tariffs won’t stop the group’s determination to seek alternative platforms for payments between member countries,” Brazil’s President said. Now, whether or not they face those promised Trump tariffs will depend on how the US President views the action.
Last week, Trump said, “‘Any BRICS state that even mentions the destruction of the dollar will be charged a 150% tariff.” The bloc has yet to claim to be seeking the greenback’s destruction. Therefore, will the pursuit of alternative payment methods trigger the tariff?
Moreover, is Brazil’s position opposing a BRICS currency freeing it from those threats? It certainly became the main focus of the geopolitical sector over the next several months
@ Newshounds News™
Source: Watcher Guru
~~~~~~~~~
SEC DROPS LAWSUIT AGAINST KRAKEN, ENDING ‘POLITICALLY MOTIVATED CAMPAIGN’SEC DROPS LAWSUIT AGAINST KRAKEN, ENDING ‘POLITICALLY MOTIVATED CAMPAIGN’
The dropped lawsuit follows dismissals of other SEC lawsuits and investigations against other cryptocurrency companies like Coinbase and Gemini.
The US Securities and Exchange Commission has agreed to drop its lawsuit against Kraken, the cryptocurrency exchange revealed on March 3. The move ends what the exchange calls a “wasteful, politically motivated campaign” and “clears the path toward a stable, forward-thinking regulatory regime.”
According to Kraken, the lawsuit is being dismissed with prejudice, with no admission of wrongdoing, no penalties paid, and no changes to Kraken’s business. The SEC sued Kraken in November 2023, alleging that the exchange acted as a broker, dealer, exchange and clearing agency without registering with the SEC.
The SEC, under Gary Gensler’s leadership, was prone to a policy of regulation by enforcement, suing or investigating crypto companies, such as Coinbase, Uniswap and non-fungible marketplace OpenSea, for a variety of reasons. This approach was widely criticized in the industry for stifling innovation, targeting legitimate crypto companies instead of going after bad actors and more.
The SEC’s latest actions may reflect the changing environment of the US government regarding crypto. Kraken writes about its case, “This case was never about protecting investors — it and other enforcement actions clouded instead of clarified. It undermined a nascent industry that repeatedly urged clear rules of the road.”
A shifting regulatory climate
Since the change in SEC leadership, the agency has dismissed or is rumored to drop various lawsuits and investigations that began during Gensler’s tenure. On Feb. 27, it dismissed its lawsuit against Coinbase. Previously, it had dropped lawsuits or investigations against Consensys, Uniswap, OpenSea, Gemini and Robinhood.
The moves come as the US is shaping up for increased regulatory clarity surrounding digital assets. On Feb. 7, US lawmakers introduced a stablecoin bill to boost dollar dominance. It is possible that lawmakers may introduce a general crypto regulation bill that is a stronger version of FIT21.
In addition, there are further tailwinds: US President Donald Trump, who has said he wants to make the US the “world capital of crypto,” has announced plans for a crypto strategic reserve consisting of BTC, ETH, XRP, SOL and ADA. The president will be hosting the first White House Crypto Summit on March 7.
@ Newshounds News™
Source: CoinTelegraph
~~~~~~~~~
HESTER PEIRCE ANNOUNCES SEC’S NEW CRYPTO TASK FORCE AMID POLICY SHIFT
The U.S. Securities and Exchange Commission has officially released the list of members for its Crypto Task Force, which brings together advisors from key divisions.
This follows a memo published by Commissioner Hester Peirce on March 3 on the official SEC website. According to the memo, the task force consists of staff from Acting Chairman Mark Uyeda’s office, along with representatives from multiple divisions within the agency.
Peirce highlighted the team’s experience and commitment to addressing complex crypto regulatory challenges, stating that the Crypto Task Force is composed of knowledgeable and dedicated staff focused on developing practical regulatory solutions for the industry.
She also emphasized that the team would collaborate with other SEC experts and engage with the public to shape effective crypto regulations.
SEC’s new crypto-focused team
The task force includes Richard Gabbert as Chief of Staff, Michael Selig as Chief Counsel, and Taylor Asher as Chief Policy Advisor. Additional members include Sumeera Younis (Chief of Operations), Landon Zinda (Senior Advisor), and multiple senior advisors such as Donald Battle, Bernard Nolan, and Laura Powell.
Peirce has long been an advocate for clear and fair regulations in the crypto sector. Her latest initiative follows ongoing calls from industry leaders for more regulatory clarity.
This development aligns with a broader trend within the SEC to reevaluate its stance on cryptocurrency oversight. Under the previous administration, the agency intensified enforcement actions against crypto firms, imposing significant penalties.
For instance, in 2024 alone, the agency imposed fines totaling $4.68 billion on crypto businesses, accounting for 68% of its lifetime penalties in this sector.
However, recent months have seen a notable shift. The SEC has closed investigations into several prominent crypto entities, including Gemini, Coinbase, OpenSea, Uniswap Labs, Robinhood Crypto, Consensys, and lately Kraken. This move suggests a more lenient regulatory approach under the current administration.
@ Newshounds News™
Source: Crypto News
~~~~~~~~~
Seeds of Wisdom Team RV Currency Facts Youtube and Rumble
Newshound’s Podcast Link
Newshound’s News Telegram Room Link
Q & A Classroom Link
Follow the Roadmap
Follow the Timeline
Seeds of Wisdom Team™ Website
Subscribe to Seeds of Wisdom Team™ Newsletter
