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Goldilocks "Banking and Crypto News" Monday 5-1-2023

 Goldilocks and Seeds of Wisdom

Thank you RJ

RJ:  Good morning Dinar Recaps,

Goldilocks posted comments and links this morning:

Regulators are seizing First Republic and JP Morgan is going to acquire all of the bank deposits and buy them out.

Last year, we talked about this happening in the future. Banks would be consolidating towards the end of the old financial system.

Many of the big banks are well prepared to move forward into the new age of technology.

JP Morgan was given the task of heading up the crypto space and moving the banking system into Web 3.

As we integrate our banking system into the new digital asset-based trading decentralized system, we are going to witness banks who have prepared themselves for this transformation move forward and those who have not be absorbed into those who have.

© Goldilocks

https://www.reuters.com/business/finance/california-financial-regulator-takes-possession-first-republic-bank-2023-05-01/#:~:text=May%201%20(Reuters)%20%2D%20JPMorgan,to%20fail%20in%20two%20months.

"IOTA, Ripple and Stellar to conquer trillion-$-market with SWIFT under ISO 20022 reglation – Report"

Iota, Ripple, Stellar, and the Swift System are currently merging together to work as one.

The merging of these new and traditional banking systems will allow cross-border payments to move more efficiently and much faster.

Ripple is the banking coin that will move money. Stellar will move money through a digital ledger transmission system recording on both sides of a trade the transaction. Yet, most people know so little about Iota.

IOTA is a smart contract platform designed to move payment transactions between digital devices connected to the internet. Iota will be responsible to ensure that both sides of a trade have adequate funds to secure the transaction and fulfill it.

Other changes may be taking place going forward, but this is how we will begin our journey into the new digital banking system taking what we have learned from the old financial system to move forward into the new one.

© Goldilocks

https://www.crypto-news-flash.com/iota-ripple-and-stellar-to-conquer-trillion-market-with-swift-under-iso-20022-reglation-report/

~~~~~~~~~~

Stablecoin regulation is moving forward, but it is moving slower than was expected at the first of the year.

"The United States House of Financial Services Committee (HFSC) and the House Agricultural Committee (HAC) are putting together legislation that would supervise the crypto sector."

The US Government is expected to have legislation in place by the end of June.

This just so happens to be the end date for the revaluation of everything.

June 30th, just so happens to be the end of Libor contracts and the complete movement into SOFR lending contracts.

A pause on interest rate hikes is not expected in May, but it is expected in June. This will allow a shifting in price corrections on the market and in the banking system that will allow us to reset our economy.

 Read the full story here. 

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