Seeds of Wisdom RV and Economic Updates Tuesday Evening 3-04-25

05/03/2025

Good Evening ,

BRICS: US TO FORGE TRADE DEAL AS NEW NATION FEARS TARIFF THREAT

Amid the ongoing tensions with the BRICS group, the US is set to forge a new trade deal as a new nation comes forward with concerns over the growing threat of tariffs.

Indeed, since his return to the White House, US President Donald Trump has embraced increased import taxes as an aggressive policy to balance out trade.

The efforts have drawn both criticism and concern from the global market. Specifically, a host of nations have expressed worry that the action could lead to a trade war.

Now, that fear may be leading geopolitical alignment to take place on a global scale.

US to Forge New Trade Agreement as BRICS, Canada, and Mexico Face Tariffs

The BRICS economic alliance and the United States are engaged in a notable faceoff. The latter promised to issue 150% tariffs on the collective, citing its de-dollarization as the reason. In response, the bloc’s 2025 chairmanship holder, Brazil, has continued to lean into the necessity of ditching the greenback in global trade.

Both sides have only encouraged continued concerns regarding geopolitical tensions. Moreover, amid the BRICS confrontation, the US has forged a new trade deal as another nation expresses concern over impending Trump tariff threats. The US President reissued those import taxes on Canada and Mexico after pausing the effort last month.

According to a new report, the United States and the UK are set to iron out the details of a new trade agreement. Specifically, a visit from Prime Minister Keir Starmer has seen both sides commit to the new deal. Its purpose looks to be balancing trade and thus avoiding tariffs on the European nation.

After the meeting, Trump expressed his hopes for a “great trade agreement” with the UK. “We’re going to have a great trade agreement, one way or another,” Starmer said. “We’re going to end up with a very good trade agreement for both countries, and we are working on that as we speak.”

@ Newshounds News™

Source: Watcher Guru

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SEC AGREES TO DROP LAWSUIT AGAINST CUMBERLAND DRW, SAYS FIRM

The SEC sued Cumberland DRW in October, claiming it operated as an unregistered securities dealer in handling more than $2 billion in crypto assets.

The US Securities and Exchange Commission will dismiss its case against the Chicago-based Cumberland DRW, the crypto trading firm says.

“Today we signed a joint filing to be made with the Securities and Exchange Commission (SEC) dismissing its case against Cumberland DRW,” Cumberland wrote in a March 4 X post.

Cumberland said the filing was agreed in principle between Cumberland DRW and SEC staff on Feb. 20 and is currently awaiting the agency’s approval.

It’s the latest crypto-related lawsuit the SEC has agreed to drop. It has previously dropped cases against crypto exchanges Coinbase and Kraken, along with crypto firm Consensys.

The regulator has also recently announced it had dropped its investigation into non-fungible token (NFT) companies Yuga Labs and OpenSea, and crypto exchanges Gemini and Uniswap Labs.

“We look forward to continuing our dialogue with the SEC to help shape a future where technological advancements and regulatory clarity go hand in hand,” Cumberland added.

The SEC sued Cumberland DRW on Oct. 10, alleging a single charge of operating as an unregistered securities dealer for more than $2 billion in crypto assets.

The regulator claimed Cumberland acted as an unregistered dealer since March 2018 by buying and selling crypto it deemed to be securities.

The SEC also claimed that five of the tokens that Cumberland handled were securities, including POL. SOL, ATOM. ALGO, and FIL.

The agency was seeking permanent injunctive relief, disgorgement of ill-gotten gains, prejudgment interest and civil penalties.

Cumberland argued it had registered as a dealer-broker in 2019 and was hit with the suit despite engaging in “five years of good-faith discussions” with the SEC, adding it was just “the latest target” of SEC’s “enforcement-first approach to stifling innovation.”

Crypto exchange Coinbase recently filed a request under the Freedom of Information Act (FOIA) to the SEC seeking to discover how much the SEC spent on enforcement action against crypto firms.

@ Newshounds News™