Goldilocks’ Comments and Global Economic News for July 30, 2023
RJ: Good afternoon Dinar Recaps,
Goldilocks posted comments and links on the global financial system:
VIETNAM, July 27 – “HCM CITY — HDBank is one of the first lenders in Việt Nam to have successfully adopted Basel III reforms standards.”
HD Bank in Vietnam has upgraded from Basel 2 to Basel 3 Reforms across the board on all of the requirements it takes to be compliant.
The Basel Committee has recommended this for International Banks since January 1, 2023, and HD Bank is our first International pioneer.
They have reached sustainable goals through Article 4 that we talked about earlier this month in their meeting with the IMF, and they are now able to move forward.
If you remember earlier this month, we talked about Indonesia and Iraq being on a similar track. But today, we celebrate Vietnam being the first out of the gate to make their move.
HDBank, one of the pioneers in Việt Nam, has applied leading international risk management standards.
US Senate Passes National Defense Bill: Here’s How It Affects Crypto
“According to observers, the bill would increase KYC/AML regulations for stablecoin firms, most of which are currently in default.”
This bill is designed to protect the users of the crypto space.
The regulations added to this bill through amendments are created to prevent fraud and abuse.
This bill is designed to promote consumer confidence in crypto adoption.
Blockchain Software Applications: Stellar Development Foundation Shares Latest Ecosystem Updates
The Stellar Anchor Platform announced support for Deposit & Withdrawal services on Stellar (SEP-24), “enabling companies to offer their on and off-ramp services on Stellar and connect to wallets on the network.” This makes it easier for projects “to build on Stellar while decreasing development time and costs.”
As part of the Soroban Adoption Fund, the Soroban Adoption Fund Programs “ramped up activity significantly.”
Follow the money my friends. Liquidity is going to the crypto space and the metal markets at this point. 👇
“The Avalanche Foundation announced its decision to allocate up to $50 million for purchasing tokenized assets minted on Avalanche’s network.
The Foundation’s new program is known as Avalanche Vista, and its intention is to bring new digital versions of traditional investment products to the platform.”
Source: Inside Bitcoins
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