Foreign – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Fri, 29 Aug 2025 09:46:38 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.7 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 Foreign – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 CFTC Clears Path for Foreign Crypto Access to US Traders https://earlybirdsinvest.com/cftc-clears-path-for-foreign-crypto-access-to-us-traders/ https://earlybirdsinvest.com/cftc-clears-path-for-foreign-crypto-access-to-us-traders/#respond Fri, 29 Aug 2025 09:46:38 +0000 https://earlybirdsinvest.com/cftc-clears-path-for-foreign-crypto-access-to-us-traders/

The Commodity Futures Trading Commission (CFTC) has introduced a new set of rules that could allow international crypto exchanges to legally engage with US customers.

On August 28, the agency published an update to its registration framework for foreign commodity exchanges.

This update applies to both traditional and cryptocurrency markets. It outlines how overseas companies can receive approval to offer services to American users.

What is Shiba Inu Coin? (Explained with Animations)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe – We publish new crypto explainer videos every week!

Acting CFTC Chair Caroline D. Pham emphasized that this step addresses confusion created by past regulatory methods. Pham stated that the new policy provides companies with a clear path back into the American market.

She also referred to the update as part of the CFTC’s effort to meet the goals of President Donald Trump’s administration.

Under the previous regulatory environment, US-based exchanges were restricted in the types of services they could provide. For example, they faced limits on offering perpetual futures, leverage, and staking rewards.

As a result, exchanges such as Binance



$12.32B

, Bybit



$4.12B

, and Bitget



$4.5B

, which operate outside the US, have become leaders in the crypto derivatives market.

Pham also shared in a post on X that the CFTC’s decision could help reconnect global exchanges with US markets. She noted that this may influence how these markets evolve in the future.

The announcement came after Kristin Johnson revealed she would be stepping down from her position at the CFTC on August 26. What did she say? Read the full story.


]]>
https://earlybirdsinvest.com/cftc-clears-path-for-foreign-crypto-access-to-us-traders/feed/ 0 55696
Trump’s court victory on foreign aid impoundment, briefly explained https://earlybirdsinvest.com/trumps-court-victory-on-foreign-aid-impoundment-briefly-explained/ https://earlybirdsinvest.com/trumps-court-victory-on-foreign-aid-impoundment-briefly-explained/#respond Thu, 14 Aug 2025 04:27:21 +0000 https://earlybirdsinvest.com/trumps-court-victory-on-foreign-aid-impoundment-briefly-explained/

This story appeared in The Logoff, a daily newsletter that helps you stay informed about the Trump administration without letting political news take over your life. Subscribe here.

Welcome to The Logoff: The Trump administration’s decision to cancel billions in foreign aid can stand, a federal appeals court said today, in a major blow to global humanitarian aid.

What did the court actually decide? A three-judge panel on the DC Circuit Court of Appeals ruled 2-1 that the plaintiffs in the case weren’t eligible to bring the suit in the first place.

The majority found that only the Government Accountability Office can challenge the administration’s decision to withhold congressionally appropriated funds under a specific process laid out in the Impoundment Control Act of 1974.

What’s the context for this decision? Donald Trump and Elon Musk made US foreign aid programs one of their first targets upon taking power in January. Musk boasted about feeding the US Agency for International Development “into the wood chipper,” and Trump withheld billions in spending already authorized by Congress.

A number of humanitarian nonprofits sued to restore the withheld funds, alleging it was an unconstitutional violation of the separation of powers — but today’s ruling punts on that question altogether, instead focusing on procedure.

What will the impact of this freeze be? To put it simply, US foreign aid saves lives, and cutting it will cost them. Among the money the Trump administration will now be allowed to withhold is billions of dollars in funding for HIV/AIDS prevention and other global health programs.

What else should I know? Separate from the human impact, this is a significant decision for the Trump administration’s efforts to impound congressionally appropriated funds, for foreign aid and other purposes. Unless or until the GAO sues over impoundment, the administration can keep at it and keep chipping away at the separation of powers in the process.

And with that, it’s time to log off…

You know what The Logoff hasn’t featured in a while? That’s right — an animal livestream. Today I’m spotlighting one of my favorites from Brooks Falls in Katmai National Park, Alaska.

The park’s grizzly bear population is currently hard at work catching salmon to fatten up for the winter, and you can watch them do it here (they’re doing a great job). I hope it’s a lighter moment for your evening, and we’ll see you back here tomorrow.

]]>
https://earlybirdsinvest.com/trumps-court-victory-on-foreign-aid-impoundment-briefly-explained/feed/ 0 53100
Why are countries like Spain and South Korea increasing their foreign aid budgets? https://earlybirdsinvest.com/why-are-countries-like-spain-and-south-korea-increasing-their-foreign-aid-budgets/ https://earlybirdsinvest.com/why-are-countries-like-spain-and-south-korea-increasing-their-foreign-aid-budgets/#respond Sun, 03 Aug 2025 11:12:14 +0000 https://earlybirdsinvest.com/why-are-countries-like-spain-and-south-korea-increasing-their-foreign-aid-budgets/

If the world has had enough of helping others, then somebody forgot to tell Spain.

Yes, Spain. The same country that, a little more than a decade ago, desperately accepted billions in bailout money from its European neighbors to keep its economy afloat. That Spain is now doing something almost unthinkable. It’s ramping up aid spending just as the United States notoriously retreats. And in the process, Spain is trying to remind the world why we give back in the first place.

The US Agency for International Development (USAID) — the world’s largest humanitarian aid donor by far, whose work in recent years saved upward of a million lives per year — was officially dismantled earlier this month. Its scattered remains were subsumed by the State Department and its empty headquarters given to the FBI. But America isn’t the only one putting itself first these days. The UK, France, Belgium, and Germany all slashed their development budgets this year thanks to a wave of right-wing populism painting foreign aid as an unnecessary expense against the national interest.

The crisis is steep. The pot of money going to global development is set to shrink by 17 percent, or $35 billion, in 2025, on top of a $21 billion drop the year before, according to the Organization for Economic Cooperation and Development. That’s a $56 billion funding vacuum where global aid for mosquito nets, vaccine research, and food assistance used to be. And the declines are likely to become even steeper in the years ahead, as cuts in the US take full effect.

But while President Donald Trump was gutting USAID, Spain made moves to rebuild its aid agency and committed to more than doubling its aid budget by 2030. Nor is it alone: Ireland, South Korea, and Italy also all made recent pledges to boost their foreign aid budgets.

It’s far from enough to fill the foreign aid gap, however. And while the pain will fall primarily on impoverished recipient countries, foreign aid doesn’t just help the countries that receive it. It helps everyone.

Diseases and conflict don’t recognize legal borders and aid helps keep these deadly problems at bay. Every $100 million spent on preventing tuberculosis, HIV, and malaria helps prevent about 2.2 million new infections total. And global cuts are already expected to exacerbate the spread of diseases; former USAID officials anticipate cuts from the US alone could cause 28,000 new cases of infectious diseases like Ebola and Marburg each year. “Even if you’re in this isolationist mindset, you can’t actually isolate yourself from the rest of the world,” said Rachael Calleja, a research fellow at the Center for Global Development.

The fact that some countries have managed to fight the impulse to isolate — convincing their citizens that problems abroad are interconnected with our problems at home — could help reshape the future of aid for the better. Their decisions point to the possibility of a new future for foreign aid that could be more collaborative and less paternalistic than before.

Aid has long been dominated by a small club of wealthy nations — chief among them the United States, Germany, and the United Kingdom — that give the most, and in doing so, set the tone for how to help the rest of the world. Too often these well-intentioned solutions perpetuated the same exploitative power dynamics that made poor countries poor and one-time colonial powers like Spain and Italy rich in the first place. Western aid often comes with strings attached, like forcing Mali to privatize its cotton industry or requiring that funds be spent on consultants and supplies from the donor country — even though such policies have been shown to make aid less effective and much more expensive.

Ready or not, the old club’s grip on global influence is now breaking down.

”Nobody who works in development sat around saying, ‘The system is great. We’re awesome. Let’s just spend more money to do more of the same,’” said Dean Karlan, who was, until recently, the chief economist at USAID. “There is a blank slate. Let’s put in place a better system.”

Why are some countries bucking the trend?

Spain, Ireland, Italy, and South Korea are all increasing aid — but most have a lot of room for growth.

The United Nations set a lofty goal in the 1970s for wealthy countries to give away 0.7 percent of their gross national income (GNI) as development assistance. Half a century later, almost none do.

That includes this year’s overachievers. Ireland spent 0.57 percent of its GNI — $2.47 billion — on development aid last year. Spain spent 0.25 percent or $4.35 billion, and Italy, 0.28 percent or $6.67 billion. South Korea spent 0.21 percent or $3.94 billion.

It’s not a lot, especially compared to the $63.3 billion the US spent in 2024, although that only added up to 0.22 percent of its GNI. But these countries are moving forward at a time when everyone else seems to be moving backward. According to the global development consultancy SEEK Development’s donor tracker, the US is now projected to spend just 0.13 percent of its GNI on overseas aid this year.

There is a growing recognition that someone has to fill the gaps left by the US, but everybody balks at the price tag, Arturo Angulo Urarte, a Madrid-based development expert, said in Spanish. “It’s like, ‘Yes, but gosh, and how much does that mean? Oh, it means money? Well, then no.’”

Spain’s aid increase, however, has been a long time coming. Spanish activists launched a kind of Occupy Wall Street in favor of overseas aid back in the 1990s. A group of global development workers and grassroots activists staged hunger strikes and protest encampments, chaining themselves to government buildings to demand that Spain give at least 0.7 percent of its GNI to aid. At the time, Spain was giving around 0.24 percent of its GNI to aid, but the protests helped propel the country to double its commitment to a high of nearly 0.5 percent in 2008.

Then the 2008 economic turmoil left Spain once again with a wisp of an foreign aid budget. By the time its economy crawled closer to pre-crisis levels in 2015, its development spending had cratered to 0.12 percent of GNI.

But the idea of Spain becoming a bigger player in global development never really left the public consciousness, remaining broadly popular even during the country’s worst financial straits. In 2023 the country passed a law promising to rebuild its aid agency and bump up spending to 0.7 percent of GNI by 2030 — effectively tripling its current rate.

Spain has since increased its aid budget to about 0.25 percent of its GNI, or $4.4 billion last year — roughly $490 million more than it spent the year prior at 0.24 percent of its GNI — and says it will continue to give more in the year ahead. That’s more money for climate resilience projects in Morocco and Algeria, LGBTQ rights in Paraguay, and HPV vaccine campaigns across Latin America and the Caribbean.

A mother living with HIV since 2017 visits Kuoyo Sub-county Hospital with her child to collect their medications, on April 24, 2025 in Kisumu, Kenya.

A mother living with HIV since 2017 visits Kuoyo Sub-county Hospital with her child to collect their medications, on April 24, 2025 in Kisumu, Kenya.
Michel Lunanga/Getty Images

The dismantling of USAID has destroyed longstanding and hard-won infrastructure for implementing aid programs, especially in critical areas like HIV prevention. There’s little that anyone can do to bring that infrastructure back, but countries like Spain, Ireland, or South Korea have been able to uplift and increase funding to the initiatives most affected by the cuts, like Gavi, the international vaccine alliance, and the Global Fund to Fight AIDS, Tuberculosis and Malaria.

Ireland also aims to increase its aid spending to 0.7 percent of GNI by 2030. It inched closer to that goal this year by boosting its development budget by about $40 million to $925 million. “We wouldn’t expect Ireland to be able to fill the USAID gap in any shape or form,” Jane-Ann McKenna, who heads Dóchas, an umbrella group for Irish development organizations, said. “But that’s where our positioning and our voice becomes more important.”

That said, foreign aid has always been about more than just charity. It’s a geopolitical tool that countries have used for decades to win friends and influence people.

It’s no coincidence that, according to a 2006 study, US aid increased about 59 percent to nations when they temporarily joined the UN Security Council. The birth of PEPFAR — the HIV/AIDS program that saves around a million lives per year, which makes it perhaps America’s most effective ever form of foreign aid — helped boost public opinion of the US across sub-Saharan Africa. Much of Italy’s recent aid budget has gone to its $6 billion Mattei Plan in Africa, which aims to collaboratively influence the continent’s energy development and migration flows, but which some critics contend recreates old colonial patterns by relying too heavily on European priorities — not local expertise — to decide where the money ought to go and how its vision should take shape.

But if you take countries like Ireland and Spain at their word, their approach to foreign aid is not just about soft power anymore. These countries also have something in common that can differentiate them from other larger donors: recent histories of underdevelopment. Some of the newcomers might have been aid recipients rather than donors just a few decades ago.

South Korea received billions in foreign aid in the decades after the Korean War, which helped it grow to the point where it became the first former recipient to join OECD’s forum for major aid providers in 2010. Spain’s wealthier neighbors offered the country major financial support when it began integrating with Europe in the 1980s in the aftermath of the Franco dictatorship.

That dynamic can make it easier, Calleja says, to empathize with others who need aid today. (Though let’s not forget that Spain once colonized much of Latin America and the Caribbean — places that now receive the bulk of Spanish foreign aid — and therefore laid the groundwork for many patterns of exploitation and inequality there that its aid now seeks to resolve.)

Ireland was never a colonizer, but was once colonized itself by Britain. That legacy, McKenna said, means that many Irish people are passionate about human rights abroad and highly supportive of overseas aid.

“We have the history of the famine and we’ve had conflict on the island and we’ve had to engage in a whole peace process ourselves,” McKenna explained. “That’s there in the background of all of our psyches.”

As these smaller players like to say, it’s about “solidarity.” Spain’s own development agency’s four-year plan mentions the word solidarity 84 times. It explicitly calls for a move away from the old model, where wealthy nations dictated terms to grateful recipients, and toward a more equitable and collaborative model built on shared priorities and mutual respect.

Of course, not everybody is buying it.

Henry Morales is an economist and director of the Movimiento Tzuk Kim-Pop, a Guatemalan human rights group. He let out a little laugh when I asked him about Spain’s solidarity plan. After all, he’s seen foreign funders renege on their promises before.

He’s seen European powers pledge numerous times to do more to promote climate resilience in low-income countries before watching them give up when the politics become too difficult. Spain’s plan for development stresses that it aims to approach its funding priorities — like combating climate change and promoting gender equality — from a place of consistency and genuine partnership, the kind that can’t be abandoned on a whim when a new government takes power.

Whether Spain’s plan represents a form of global reparations or just colonialism with better PR remains to be seen, he said, but regardless, the old top-down model is clearly cracking.

Countries who receive aid now want “a voice and a vote, so that the decisions are no longer made by a private club of the big donors, the big traditional financiers,” he said. “But by debates and global agreements that are much more transparent and much more democratic.”

Fifty countries in the Global South now have their own agencies to exchange ideas, technical advice, and reciprocal funds for solving poverty, fighting climate change, and improving education.

Ensuring that recipients have a big say in how aid gets around is not only good for building a better, more democratic system — it can also make it much more efficient. According to Vox’s previous reporting in 2022, aid programs tend to work better when people from the countries they’re targeting play a big role in directing how and where the money’s used. Morales thinks that kind of collaboration is the real future of aid, which he prefers to see not as charity but as “simply the fair distribution of wealth.”

He’s not the only one who thinks so. The director-general of the World Trade Organization, Ngozi Okonjo-Iweala, called foreign aid “a thing of the past” at a meeting with African leaders in February.

For his part, Karlan, the former USAID economist, doesn’t think USAID will ever come back as the acronym or institution it once was, and although that’s mostly a very bad thing, he sees a flicker of opportunity.

Still, he isn’t sure if he believes that a real change to the aid paradigm is afoot. “Solidarity strikes me as a little bit of a softer way of saying soft power,” he mused, even if countries like Spain or Ireland aren’t necessarily “looking for flyover rights for the military.”

What he is sure of is that the US is moving in a very different direction. If Spain’s soft power is softening, then the United States’ is calcifying into something more toxic, more transactional, and — as Karlan likes to add — less efficient than before.

“Imagine a marriage in which you never did something considerate for your partner just because you cared about them,” he said. Instead, everything is a negotiation. “That isn’t a healthy relationship. What we’re risking is losing these long-term relationships, those long-term friendships.”

By the time the US is ready to reopen the door on them, it may find a world that has already moved on.

]]>
https://earlybirdsinvest.com/why-are-countries-like-spain-and-south-korea-increasing-their-foreign-aid-budgets/feed/ 0 51228
European Commission to ease rules on foreign stablecoins despite ECB opposition https://earlybirdsinvest.com/european-commission-to-ease-rules-on-foreign-stablecoins-despite-ecb-opposition/ https://earlybirdsinvest.com/european-commission-to-ease-rules-on-foreign-stablecoins-despite-ecb-opposition/#respond Wed, 25 Jun 2025 21:43:45 +0000 https://earlybirdsinvest.com/european-commission-to-ease-rules-on-foreign-stablecoins-despite-ecb-opposition/

The European Union is preparing to relax its stance on foreign-issued stablecoins, potentially allowing U.S. dollar-backed tokens like USDC and USDT to circulate freely within the bloc, the Financial Times reported on June 25.

According to the report, the European Commission will soon issue formal guidance enabling stablecoins issued outside the EU to be treated as equivalent to their European-registered counterparts.

The move would clear a key regulatory hurdle that has so far limited the reach of dollar-backed stablecoins in Europe’s financial markets.

The shift comes despite repeated warnings from the European Central Bank, which has cautioned that unrestricted access to foreign stablecoins could undermine financial stability.

ECB President Christine Lagarde previously urged policymakers to tighten restrictions on stablecoin issuers, citing the risk of capital flight and reduced monetary sovereignty.

Under the EU’s Markets in Crypto-Assets (MiCA) regulation, stablecoin issuers are currently required to maintain most of their reserves in EU-based banks and ensure euro-denominated redemption rights.

The proposed changes would allow global issuers to bypass those limitations for branded versions of their tokens already operating under EU supervision.

The U.S. Senate’s recent passage of the GENIUS Act, which establishes a national framework for stablecoin oversight, has increased pressure on other jurisdictions to keep pace.

The Financial Times cited several unnamed officials familiar with the matter, who indicated that the Commission’s guidance aims to avoid a scenario in which the EU becomes a “flyover zone” for digital assets, left behind by faster-moving markets in the U.S. and Asia.

The ECB has not publicly commented on the upcoming guidance, but sources told the FT that internal opposition remains strong. EU officials are reportedly working on a compromise that would give national regulators more discretion in assessing the risks associated with foreign stablecoins.

If enacted, the new approach could mark a turning point for the role of U.S. dollar-backed stablecoins in Europe, reinforcing the dollar’s dominance in digital asset markets while signaling the EU’s desire to remain a competitive hub for crypto innovation.

Mentioned in this article
]]>
https://earlybirdsinvest.com/european-commission-to-ease-rules-on-foreign-stablecoins-despite-ecb-opposition/feed/ 0 44103
$659,191,000,000 Bank Says Foreign Exporters No Longer Want To Be Paid in Dollars, Preferring Euros, Chinese Renminbi, Canadian Dollar and Mexican Peso: Report https://earlybirdsinvest.com/659191000000-bank-says-foreign-exporters-no-longer-want-to-be-paid-in-dollars-preferring-euros-chinese-renminbi-canadian-dollar-and-mexican-peso-report/ https://earlybirdsinvest.com/659191000000-bank-says-foreign-exporters-no-longer-want-to-be-paid-in-dollars-preferring-euros-chinese-renminbi-canadian-dollar-and-mexican-peso-report/#respond Thu, 19 Jun 2025 18:05:02 +0000 https://earlybirdsinvest.com/659191000000-bank-says-foreign-exporters-no-longer-want-to-be-paid-in-dollars-preferring-euros-chinese-renminbi-canadian-dollar-and-mexican-peso-report/

Foreign exporters are reportedly less interested in being paid in US dollars due to the currency’s recent volatility, according to US Bank.

Paula Comings, head of FX sales at US Bank, says in a new interview with Bloomberg that American importers have been reporting to her that their foreign export partners want to be paid in the euro, Chinese renminbi, the Mexican peso and the Canadian dollar.

Comings notes that exporters want to limit their exposure to the dollar’s price movement.

“A lot of clients previously were reluctant because dollars were sacred in the eyes of the supplier. Now the vibe from overseas vendors seems to be, ‘Just give us our currency.’”

For example, one US Bank client, a lumber company from the Midwest, now uses euros to purchase hardwood imports from Europe, while a second, a homeware retailer, now plans to pay for imports from China with yuan. Both firms previously used dollars to pay exporters.

The US Dollar Index (DXY) is trading at 98.92 at time of writing. The index is up 5% in the past five days but down nearly 9% year to date.

US Bank has $659.191 billion in total assets as of March 31st, 2025, per statistics from the Federal Reserve.

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

]]>
https://earlybirdsinvest.com/659191000000-bank-says-foreign-exporters-no-longer-want-to-be-paid-in-dollars-preferring-euros-chinese-renminbi-canadian-dollar-and-mexican-peso-report/feed/ 0 42962
Tether Will Stay Focused on Foreign Markets While US Deals With Regulations, According to CEO Paolo Ardoino: Report https://earlybirdsinvest.com/tether-will-stay-focused-on-foreign-markets-while-us-deals-with-regulations-according-to-ceo-paolo-ardoino-report/ https://earlybirdsinvest.com/tether-will-stay-focused-on-foreign-markets-while-us-deals-with-regulations-according-to-ceo-paolo-ardoino-report/#respond Mon, 26 May 2025 21:41:37 +0000 https://earlybirdsinvest.com/tether-will-stay-focused-on-foreign-markets-while-us-deals-with-regulations-according-to-ceo-paolo-ardoino-report/

Tether chief executive Paolo Ardoino reportedly says that the stablecoin issuer will stay focused on foreign markets as a stablecoin regulatory bill works through Congress.

According to a new report by Bloomberg, Ardoino says that even though the Genius Act, an industry-backed bill to regulate dollar-pegged crypto assets in the US, is making its way through Congress, Tether will remain focused overseas.

“It is important for us to see how the Genius Act is distinguishing between foreign issuers and domestic issuers. For us, the main interest will remain outside of the US. We are looking at the Genius Act in a way that will allow us to be compliant. We can be compliant while still having a strong focus on foreign markets.”

Tether, which is based in El Salvador, is the largest stablecoin issuer in the world but stopped serving customers in the US in 2018.

However, the report says that if Tether were to focus on the US, it may run into issues such as backing USDT with Bitcoin (BTC), which currently isn’t allowed due to regulations.

Ardoino goes on to say that since Tether isn’t focused on the US, the firm isn’t worried about major banks – such as JPMorgan Chase, Bank of America, Citigroup, Wells Fargo – venturing into the world of stablecoins and issuing their own.

“We are not worried about the competitors coming from big banks, because they will look at the Western world. Our customer base are the 3 billion people unbanked that are not touching the banking system.”

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

]]>
https://earlybirdsinvest.com/tether-will-stay-focused-on-foreign-markets-while-us-deals-with-regulations-according-to-ceo-paolo-ardoino-report/feed/ 0 38476
Lee Jae-myung Backs Won Stablecoin to Cut Fees, Limit Foreign Crypto Dependence https://earlybirdsinvest.com/lee-jae-myung-backs-won-stablecoin-to-cut-fees-limit-foreign-crypto-dependence/ https://earlybirdsinvest.com/lee-jae-myung-backs-won-stablecoin-to-cut-fees-limit-foreign-crypto-dependence/#respond Tue, 20 May 2025 12:37:12 +0000 https://earlybirdsinvest.com/lee-jae-myung-backs-won-stablecoin-to-cut-fees-limit-foreign-crypto-dependence/

A leading presidential candidate in South Korea has proposed launching a stablecoin backed by the Korean won.

Lee Jae-myung, head of the Democratic Party, stated that a local stablecoin would allow people to move money on blockchain networks without relying on foreign options like USDT
USDT


$0.9981

or USDC
USDC


$0.9980

.

Currently, South Korean law does not allow anyone to issue stablecoins linked to the won. As a result, local crypto exchanges must depend on US dollar-based stablecoins instead.

How to Store NFTs in 2023 (3 Most Secure Ways Explained)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe – We publish new crypto explainer videos every week!

According to a May 20 report by The Korea Herald, between January and March, crypto platforms in the country saw roughly 56.8 trillion won (about $40.8 billion) flow out. Lee stated:

We need to establish a won-backed stablecoin market to prevent national wealth from leaking overseas.

Lee’s campaign also suggests giving major institutions, like the National Pension Fund, access to crypto investments only after clear price stability rules are in place. He recommends creating a system that monitors crypto activity across platforms and lowers trading fees to improve access under government oversight.

However, Shin Bo-sung, a senior researcher at the Korea Capital Market Institute, cautioned that such coins could increase the overall money supply and shift financial control away from public institutions. She explained:

Stablecoins are essentially another form of banking, creating money out of nothing.

Meanwhile, on May 7, Arizona Governor Katie Hobbs signed House Bill 2749 into law. What does the bill cover? Read the full story.

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.


]]>
https://earlybirdsinvest.com/lee-jae-myung-backs-won-stablecoin-to-cut-fees-limit-foreign-crypto-dependence/feed/ 0 37294
Republican Senators Call on Treasury To Ease Crypto Tax Laws To ‘Level Playing Field’ With Foreign Companies https://earlybirdsinvest.com/republican-senators-call-on-treasury-to-ease-crypto-tax-laws-to-level-playing-field-with-foreign-companies/ https://earlybirdsinvest.com/republican-senators-call-on-treasury-to-ease-crypto-tax-laws-to-level-playing-field-with-foreign-companies/#respond Thu, 15 May 2025 05:39:47 +0000 https://earlybirdsinvest.com/republican-senators-call-on-treasury-to-ease-crypto-tax-laws-to-level-playing-field-with-foreign-companies/

Pro-crypto Republican Senator Cynthia Lummis of Wyoming is pressing the US Treasury to ease crypto tax laws as a means of evening out the playing field with foreign companies.

In a new thread on the social media platform X, Lummis says that the US’s competitive advantage in digital finance is at risk due to US companies being taxed more than their foreign counterparts, a loophole she and Republican Senator Bernie Moreno of Ohio are trying to close.

“Our edge in digital finance is at risk if U.S. companies are taxed more than foreign competitors. [Representative Bernie Moreno] and I urged the US Treasury to lift an unintended tax burden on U.S. digital asset companies. To lead the world in digital assets, we need a level playing field.”

In their letter to Treasury Secretary Scott Bessent, Lummis and Moreno say that when the Biden Administration signed the Inflation Reduction Act into law, they created a new tax known as the corporate alternative minimum tax (CAMT), which imposed a 15% tax burden on certain companies, creating a disadvantage for US firms.

“Corporations that own enough appreciated digital assets to be subject to CAMT must now pay taxes on unrealized gains in the value of those digital assets…

Neither Congress nor the Financial Account Standards Board (FASB) planned this outcome – it is the unintended result of a tax liability on decisions by a private organization that is focused on financial statement accounting standards, not principles of taxation.”

According to Lummis, the Treasury should use its power to change the law by either changing the tax burden owed or by excluding unrealized gains from the formula, because, as things stand now, corporations may be discouraged from holding large amounts of crypto assets.

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Hoowy/80’s Child

]]>
https://earlybirdsinvest.com/republican-senators-call-on-treasury-to-ease-crypto-tax-laws-to-level-playing-field-with-foreign-companies/feed/ 0 36298
Bank of America Says Investors Pulled $8,900,000,000 out of US Markets in One Week, Fleeing to Foreign Markets: Report https://earlybirdsinvest.com/bank-of-america-says-investors-pulled-8900000000-out-of-us-markets-in-one-week-fleeing-to-foreign-markets-report/ https://earlybirdsinvest.com/bank-of-america-says-investors-pulled-8900000000-out-of-us-markets-in-one-week-fleeing-to-foreign-markets-report/#respond Thu, 08 May 2025 11:46:48 +0000 https://earlybirdsinvest.com/bank-of-america-says-investors-pulled-8900000000-out-of-us-markets-in-one-week-fleeing-to-foreign-markets-report/

Data from Bank of America (BofA) reportedly shows that investors appear to be fleeing US markets in the wake of tariff-induced volatility.

The financial giant notes in a new analysis that US equities witnessed an $8.9 billion outflow in the week leading up to April 30th, CNBC reports.

European equities, by contrast, witnessed a $3.4 billion inflow in the week leading up to April 30th, and Japanese stocks saw a $4.4 billion inflow.

BofA also notes that for every $100 worth of inflow into the US stock market since the presidential election last November, there was $5 worth of outflow in the past three weeks.

The crypto sector witnessed inflows of $2.3 billion in the past week, and high-yield bonds saw inflows of $3.9 billion, suggesting investor appetite for risk, according to BofA. Gold and Treasuries, by contrast, saw a combined $6 billion worth of outflows.

The bank notes that its clients are now more worried about deflation than inflation and have been adjusting their portfolios accordingly, acquiring shares of utilities and low-volatility, high-dividend exchange-traded funds (ETFs).

Last month, Bank of America’s team of market strategists warned that the US stock market’s recovery could be short-lived, advising clients to “sell into rallies in US stocks and the dollar.”

The bank strategists said debasement of the US dollar is the “cleanest investment theme to play.”

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

]]>
https://earlybirdsinvest.com/bank-of-america-says-investors-pulled-8900000000-out-of-us-markets-in-one-week-fleeing-to-foreign-markets-report/feed/ 0 35060
Why bond markets are more important than ever for US foreign policy https://earlybirdsinvest.com/why-bond-markets-are-more-important-than-ever-for-us-foreign-policy/ https://earlybirdsinvest.com/why-bond-markets-are-more-important-than-ever-for-us-foreign-policy/#respond Sun, 13 Apr 2025 17:55:19 +0000 https://earlybirdsinvest.com/why-bond-markets-are-more-important-than-ever-for-us-foreign-policy/

Scott Bessent’s Bond Strategy: Foreign Policy and the New Financial Order for the United States 10 Years

Experts at the Bitcoin Policy Institute unlock the 10-year Treasury yields at the heart of Donald Trump’s policy ambitions and US Treasury Secretary Scott Bescent’s economic strategy.

It features Matthew Pines, executive director of Bitcoin Policy Institute, Head of Policy Zach Shapiro and Growth Associate Zach Cohen.

They explore how bond market dynamics affect US profit payments, trade policy, and the feasibility of industrial disasters. As America confronts growing debt burdens and financial constraints, understanding the yield curve will become important in navigating US monetary policy and the role of Bitcoin within it.

From episode #1 of Bitcoin Policy Hour: “The War of Mar-a-Lago Accord: Tariffs, Bitcoin, Stablecoins.”

]]>
https://earlybirdsinvest.com/why-bond-markets-are-more-important-than-ever-for-us-foreign-policy/feed/ 0 30603