Goldilocks’ Comments and Global Economic News Sunday Evening 2-18-24


Goldilocks’ Comments and Global Economic News Sunday Evening 2-18-24

Good Evening ,

The Central Bank of Iraq revealed the mechanism for accepting and studying applications for granting licenses to electronic payment companies, confirming the continued receipt of licensing applications.

The Central Bank specified that the applicant, whether a natural or legal person, must have at least three years of experience in the field of electronic payment and the payments industry, and this includes the founders and participants, indicating that the application includes a detailed explanation of the added value to the electronic payment sector in Iraq that will be provided by the company to be licensed. Especially in the field of modern collection techniques and enriching the Iraqi market with distinguished and applicable service.

The bank stressed the necessity of submitting a request for a detailed technical feasibility study of what the company to be licensed will provide, pointing out that the request includes the minimum standards for accepting applications for obtaining a license to operate as an electronic payment service provider, in addition to what is stated in the electronic money payment services system No. (3). For the year 2014.

The bank confirmed that it will reject all applications that do not meet the aforementioned licensing conditions.


Iraqi Bank Announcement:

The Central Bank of Iraq is currently in process of revealing their electronic mechanism for the new global digital economy.

Going forward, they will be granting license applications for electronic payment companies from around the world.

© Goldilocks


China Plans to Accelerate Cross-border Data Transfersby Implementing Trial Rules in Shanghai Pilot Free Trade Zone

“…cooperation with the Digital Economy Partnership Agreement (“DEPA”) countries in the field of digital trade, actively establishing the Lingang Special Area as a model site of DEPA cooperation[4], and promoting the implementation of new rules such as “paperless trade.”

China is in process of Accelerating Cross-Border Data Transfers through Implementing trial rules in the Shanghai pilot free trade zone.

The transfer of personal data to another country requires the testing of protection laws through controllers to fulfill the needed requirements when transferring personal data across borders.

These new data rules are being tested on the Shanghai Exchange and accelerated to test and implement these new digital monetary policies.

The Shanghai Exchange incorporates much of Asia and the Middle East in trade going across borders from the East to the West.

This test pilot will allow China the ability to comply with the new Digital Asset-Based Trading System data requirements enabling trade on a global scale to move forward.

The Chinese Yuan is utilized on the Shanghai Exchange, and they have already told us they are considering a gold-backed Chinese Yuan to lead the way in trade among the Nations they trade with going forward.

The Shanghai Exchange is the third largest market exchange in the world. It has a market cap of nearly 7 trillion dollars in assets. A Golden Yuan that trades with markets around the world through the Shanghai Exchange will significantly change monetary policies around the world to keep pace with these new developments.

And, we must not forget that the Shanghai-Hong Kong Stock connection will enable their new pilot program on stablecoins to play an important part of the global payment systems around the world to function freely on the Shanghai Exchange that connects to the rest of the global economy.

All roads lead to gold, and “digital gold” will set us free.

© Goldilocks
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