Goldilocks’ Comments and Global Economic News for July 28, 2023

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The House Financial Services Committee, and now, the US House Agriculture Committee passes pro-crypto bill.

These two committees had portions to approve this week before they could go before the House and the Senate of the new crypto clarity bill. This bill has currently moved to the House at this point for a vote.

This gives regulators a clear path to transition from seeing digital assets as a security to a commodity-based system.

And now, we have Basel 3 proposals accepted and ready to move forward as of yesterday as well.

Once these two bills become law, you are going to see changes happen in the marketplace come about with tokenized assets bringing everything in the new economy to real values.

© Goldilocks

https://www.theblock.co/post/241508/democrats-oppose-crypto-market-overhaul-but-stablecoin-deal-possible

https://crypto.news/us-house-agriculture-committee-passes-pro-crypto-bill/

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On July 28, 2023 By Awake-In-3D

There’s been much hype in GCR Land about the Basel 3 “Endgame”. It’s been framed as a turning point in Our GCR as much as SOFR and FedNow were. Yet here we are, still waiting for anything significant to change.

Unfortunately, and with much disservice to our GCR Land community, many RV/GCR “information providers” throw these terms and events out there with little explanation or context. In the end, all this does is place additional confusion and anxiety onto an already difficult GCR landscape. This is unfortunate, so let’s figure this out together without the Hopium or hype.

So What is the Basel 3 “Endgame” All About?

Regulatory agencies have recently unveiled a proposal to fortify the banking system by making modifications to capital requirements for large banks. This substantial endeavor, known as the Basel III endgame, seeks to increase the strength and resilience of the financial sector. By better reflecting underlying risks and enhancing risk measurement consistency, the proposal aims to safeguard against future turmoil and ensure a more stable banking environment.

The Basel 3 Endgame in Non-Financial Terms

In simpler terms, the Basel III endgame proposal is a comprehensive plan to strengthen the banking system and make it more resilient. By implementing modifications to capital requirements and risk measurement, regulators intend to ensure that banks are better prepared to weather financial downturns. The proposal aims to create a safer financial environment, reducing the likelihood of future banking crises and promoting stability in the global economy.

By adhering to a standardized framework and considering the risks associated with various activities, regulators aim to create a more stable banking environment, ultimately benefiting the overall economy and safeguarding against future financial turmoil.

Related Awake-In-3D Articles:

• Clarifying the Basel III Accords – History, Key Banking Changes, and Impact on Physical Gold
• The FedNow Rollout and Its Implications for a US $CBDC
• Understanding SOFR: The New Benchmark for Global Credit Markets
• The Intersection of FedNow, SOFR, Basel III, and CBDCs: Unveiling the Fed’s Real-Time Control of the Financial System – Is This Our GCR?