Arca first SEC regulated fund Ethereum based

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News Date: July 12, 2020

Asset management firm Arca has announced the first-ever products regulated under current SEC standards(U.S. Securities and Exchange Commission), adhering to the strictest investor protection laws globally.
Financial institutions could potentially use these digital assets for a wide range of use cases, including payments, lending, clearing and settlement, trading and treasury management.
Arca Labs, chose the Ethereum blockchain, one of the largest public blockchains, launching so-called digital securities ArCoin, which uses the ERC-1404 protocol.
Source: www.ar.ca

Hong Kong to Become International Gold Trading Hub

John Lee, Chief Executive of the Hong Kong Special Administrative Region, announced plans to develop Hong Kong into an international gold trading center during his third policy address.
He emphasized that Hong Kong is already one of the largest gold import and export markets by volume.
Given the current geopolitical complexities, Lee highlighted Hong Kong's advantages in security and stability, making it an attractive location for gold investors.
This move is expected to boost related activities such as gold trading, settlement, and delivery.
"This will spur development of the related industry chain, ranging from investment transactions, derivatives, insurance, storage, to trading and logistic services," Lee said.

Saudi Arabia joins SCO

Riyadh joins Shanghai Cooperation Organization as ties with Beijing grow.
Saudi Arabia's cabinet approved on Wednesday a decision to join the Shanghai Cooperation Organization, as Riyadh builds a long-term partnership with China despite U.S. security concerns.
(Reuters)

Basel IV Regulations Impact for Banking Industry

Basel IV Rules Will Arrive and Complicate Bank Lives Even Further.
New Banking Rules Will Tighten Credit Standards, according to Morgan Stanley.
According to Morgan Stanley analysts, the Fed will issue new bank capital regulations between late May and early July, which will be followed by a comment period and a final rule that will be implemented gradually between 2025 and 27.
For their US Large-Cap Banks coverage, they anticipate that the implementation of this Basel IV, often known as the 'Basel III Endgame,' will result in increased risk-weighted assets (RWAs) and capital requirements, with a focus on Global Systemically Important Banks (GSIBs).
The name 'Basel' comes from the city of Basel in Switzerland, where the Basel Committee on Banking Supervision was established in 1974.
The committee is made up of representatives from central banks and regulatory authorities from around the world, and its primary goal is to promote international financial stability by developing and promoting supervisory standards and guidelines for the banking industry.

Russia invites Iraq to join BRICS

The Russian ambassador in Baghdad Elbrus Kutrashev invites Iraq to join BRICS.
He expressed personal ties to the country. Russia pledges support and dismisses any agenda against the U.S.
He recalls Iraq's resistance to American occupation and clarifies Russian companies' interest in Iraq as commercial expansion, not filling voids.
The ambassador denies plans to send Russian forces, emphasizing it's not Russia's approach but the U.S.'s.
Additionally, he mentions Iraq's role in mediating conflicts and affirms Russia's readiness for a solution.

SLD 45 & SpaceX Starlink launch

Congratulations to SpaceX, all the Guardians and Airmen of SLDelta45 that made the Starlink 4-3 launch possible this evening.
This launch kicks off what is sure to be a busy December, with 5 launches slated to close out the year.
Without the dedication from their teammates, this high ops tempo would not be possible!
Source: SpaceForceDoD