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? The Dinarian on Locals brings you the latest in news, interviews, in-depth conversations, and stories from across the blockchain and global communities—within and beyond cryptocurrency ?. Experts delve into how blockchain technology is reshaping industries, enhancing business networks ?, transforming transaction workflows, and advancing distributed ledger systems ??. We also explore intriguing topics that may venture into the realm of conspiracies—and so much more!
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September 03, 2022
⚖️The world’s securities law watchdog is scrambling to create ‘common standards’ for crypto⚖️

Never has the question of how securities laws should apply to cryptocurrency been more urgent. That’s the view of Lim Tuang Lee, assistant managing director, capital markets for the Singapore Monetary Authority.

Lim also serves as chair of the fintech task force at the International Organization of Securities Commissions (IOSCO). The task force was recently charged with developing a set of crypto-specific policy recommendations for securities regulators across the globe.

The global crypto regulatory landscape is a patchwork, and jurisdictions vary widely in terms of how lenient they are toward crypto projects that may resemble traditional securities. Some let some firms operate in ways that others deem illegal.

International guidelines are urgently needed, Lim said in a recent speech in London, adding that the dramatic crash of the crypto market earlier this year factored heavily into IOSCO’s decision to produce "common standards." He also cited recent crypto hacks and scams.

The global securities watchdog aims to publish the recommendations by the end of next year. But will they make a difference? While IOSCO is influential, its recommendations won’t be binding. And some argue that it may already be too late.

Urgent problems
First established in 1983, IOSCO is a forum through which national securities regulators exchange information on securities markets. In 1998, the organization — which now has more than 130 member jurisdictions — adopted a set of financial regulatory benchmarks called Objectives and Principles of Securities Regulation. These benchmarks have been endorsed by the G20.

Crypto has been on IOSCO’s radar since at least 2017, when the organization established the initial coin offering network to help members exchange insights about crypto. In 2019, the watchdog issued a statement asserting that stablecoins could fall under the purview of securities regulators.

Now the organization has decided to go a step further. “We believe that time is now … to make this change in approach,” a spokesperson for the IOSCO general secretariat said in an emailed response to The Block’s questions. “There have been significant developments in the crypto sector in terms of product structuring and offerings, the investors in the sector and its global reach.”

It’s not only because of the market crash. In his speech, Lim also said that hacks and scams, which have been a fixture in crypto for years, have highlighted concerns over the crypto market’s fairness and resilience. Attackers have stolen more than $2 billion from DeFi protocols since 2020, according to The Block Research.

“The DeFi market and its participants have … operated either outside the scope of existing regulatory frameworks or are not compliant with applicable regulations,” Lim said.

The traditional financial system works with intermediaries, which have obligations such as fiduciary duties towards investors and best interests for brokers. Traditional financial regulation is geared toward those intermediaries. Since DeFi protocols are peer-to-peer systems without intermediaries, it is not possible to regulate them using traditional frameworks.

'Better late than never'
IOSCO’s new initiative will be led by its fintech task force, which is chaired by the Singapore Monetary Authority and currently has 27 members from IOSCO Board member jurisdictions.

The project will have two workstreams, according to a roadmap issued last month: one focused on crypto and digital assets generally and one focused specifically on DeFi.

The crypto workstream will be led by United Kingdom’s Financial Conduct Authority and will focus on “pushing for a fair and transparent market and orderly training” and “addressing market suitability and manipulation” among other things. The US Securities and Exchange Commission will lead the DeFi workstream, which will focus on “applying IOSCO principles and standards in DeFi common activities, products and services” and “highlighting the links between DeFi, stablecoin and crypto asset trading.”

If successful, IOSCO and its fintech task force might help bring about international harmonization, said Yuliya Guseva, a law professor and the head of Rutgers Law School’s blockchain and fintech program. She says this is needed to stop a “race to the bottom” in which jurisdictions compete to attract crypto companies — even the ones that “may not be good, bona fide businesses” — with lenient regulatory regimes.

Even if the organization rolls out useful recommendations, however, they will be non-binding, meaning that member states can theoretically ignore them — unless other members "name and shame" them for not complying, says Lee Reiners, policy director at the Duke Financial Economics Center.

“If policymakers were really concerned about divergent responses to crypto around the world,” Reiners says, then the finance ministers within G20 would encourage all members to follow IOSCO recommendations.

Either way, it may be too late, acknowledges Guseva. There are already hundreds of DeFi projects and more than $35 billion is deposited in DeFi protocols, according to DeFi Pulse. Guseva says the pandemic has likely contributed to the delay. Still, she says: “I think, better late than never. They need to develop it now.”

“We don’t have time; investors have lost a lot of money already,” Reiners says. “The longer they wait, the more investors will be taken advantage of.”

According to IOSCO general secretariat, the goal will be to balance speed with lasting impact. “We need to ensure that our output is reliable and useful in the long term,” the spokesperson said. “We aim to do this phase of our work as quickly as we can.”

https://www.theblock.co/post/167451/the-worlds-securities-law-watchdog-is-scrambling-to-create-common-standards-for-crypto

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👀 Something Historic Just Happened In Colombia

Something historic just happened in Colombia.
An object was recovered, a metallic sphere that defies explanation.

Now it’s the center of an international investigation involving U.S. congressmen, physicists, and Dr. Steven Greer.

The object, called the Buga Sphere, was discovered by a local metal detectorist, Don José.

👉 At first, it weighed 2kg, then 6kg and then 10kg.

The same object, no external changes and weight fluctuations recorded live.

What kind of material behaves like this?

The sphere doesn’t emit radiation, but it does mess with electronics.

People near it reported metallic taste, nausea, and phones going haywire. David Vélez wore an anti-static suit just to touch it.

Not exactly your average scrap metal.

A second sphere showed up in Jumbo, caught on camera by a separate witness.

Same shape, movement, and equatorial line.
Italy’s top UAP analysts reviewed the footage.
The metadata was untouched, it wasn't CGI, it’s real.

Inside the Buga Sphere scientists discovered:

🔹Fused polymers
🔹Optical ...

00:03:33
"The World Order That We Are Coming Into"

If XRP is the neutral bridge for all sovereign currencies, stablecoins, and tokenized assets, then it’s not just facilitating payments, it’s capturing all that value at every level. From smart contracts to tokenized treasuries and digitized assets, XRP forms the foundation and backbone for everything in between.

With cross-border payments representing a multi-trillion-dollar corridor, that’s where the largest capital will flow and the greatest returns will come from.

At this point, you’re the gatekeeper to the digital economy. Everything else follows or fades away once regulations take effect.

You either see it or you won’t until it’s too late.

~The Black Swan Capitalist

00:01:50
Denelle Dixon (Stellar CEO) On Bloomburg 🚀

'Everyone, including Mastercard and Visa, is looking at how this technology can make finance easier for their consumers and their business. I don't think there is going to be a loser, but I do think there will be shake-ups. And ultimately, the consumer is going to win.' - SDF CEO @DenelleDixon on @BloombergTV

00:05:29
👉 Coinbase just launched an AI agent for Crypto Trading

Custom AI assistants that print money in your sleep? 🔜

The future of Crypto x AI is about to go crazy.

👉 Here’s what you need to know:

💠 'Based Agent' enables creation of custom AI agents
💠 Users set up personalized agents in < 3 minutes
💠 Equipped w/ crypto wallet and on-chain functions
💠 Capable of completing trades, swaps, and staking
💠 Integrates with Coinbase’s SDK, OpenAI, & Replit

👉 What this means for the future of Crypto:

1. Open Access: Democratized access to advanced trading
2. Automated Txns: Complex trades + streamlined on-chain activity
3. AI Dominance: Est ~80% of crypto 👉txns done by AI agents by 2025

🚨 I personally wouldn't bet against Brian Armstrong and Jesse Pollak.

👉 Coinbase just launched an AI agent for Crypto Trading
Bloomberg Analysts Increase XRP ETF Approval Odds to 95%

Key Takeaways:

🔹️Spot XRP ETF approval odds increased by Bloomberg analysts.

🔹️The SEC's positive engagement boosts confidence.

🔹️Ripple market could see significant liquidity influx.

https://aicryptocore.com/bloomberg-xrp-etf-approval-95-percent-odds/

🤔 What Happened To Jed McCaleb, The Co-founder and Chief Architect of the Stellar Development Foundation?

Jed McCaleb, the co-founder and Chief Architect of the Stellar Development Foundation (SDF), remains actively involved with Stellar as of 2025. He continues to serve on the SDF’s board and is recognized as the Chief Architect, helping to guide the technical vision and development of the Stellar network. The SDF, under his and other leaders' guidance, is focused on expanding real-world asset tokenization and aims to power $3 billion in real-world asset value on-chain by the end of 2025.

Beyond Stellar, McCaleb is also known for founding the aerospace company Vast, which is developing artificial gravity space stations; he currently serves as Vast’s chairman and sole funder. According to Forbes, McCaleb’s net worth is estimated at $2.9 billion as of April 2025.

In summary, Jed McCaleb is still deeply engaged with Stellar’s ongoing mission of financial inclusion and blockchain innovation, while also pursuing ambitious projects in the space industry.

https://www.vastspace.com/
...

What Is Stronghold? 🤔

👀 Current Price: $0.01183 👀
👉All Time High: $0.05931

Website: https://stronghold.co/
Whitepaper: https://docsend.com/view/dftxunt
Coin: SHX
Coinmarketcap: https://coinmarketcap.com/currencies/stronghold-token/
Max Supply: 100B SHX
Circulating Supply: 5.79B SHX
Stellar Contract Address: GDSTRSHXHGJ7ZIVRBXEYE5Q74XUVCUSEKEBR7UCHEUUEK72N7I7KJ6JH

👇 How to buy: Swap XLM --> SHX via the StellarX Dex 👇
https://www.stellarx.com/swap/native/SHX:GDSTRSHXHGJ7ZIVRBXEYE5Q74XUVCUSEKEBR7UCHEUUEK72N7I7KJ6JH

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Musk Turns On Starlink to Save Iranians from Regime’s Internet Crackdown

Elon Musk, the world’s richest man and a visionary behind SpaceX, has flipped the switch on Starlink, delivering internet to Iranians amid a brutal regime crackdown.

This move comes on the heels of Israeli strikes targeting Iran’s nuclear facilities, as the Islamic Republic cuts off online access.

The former Department of Government Efficiency chief activated Starlink satellite internet service for Iranians on Saturday following the Islamic Republic's decision to impose nationwide internet restrictions.

As the Jerusalem Post reports, that the Islamic Republic’s Communications Ministry announced the move, stating, "In view of the special conditions of the country, temporary restrictions have been imposed on the country’s internet."

This action followed a series of Israeli attacks on Iranian targets.

Starlink, a SpaceX-developed satellite constellation, provides high-speed internet to regions with limited connectivity, such as remote areas or conflict zones.

Elizabeth MacDonald, a Fox News contributor, highlighted its impact, noting, "Elon Musk turning on Starlink for Iran in 2022 was a game changer. Starlink connects directly to SpaceX satellites, bypassing Iran’s ground infrastructure. That means even during government-imposed shutdowns or censorship, users can still get online, and reportedly more than 100,000 inside Iran are doing that."

During the 2022 "Woman, Life, Freedom" protests, Starlink enabled Iranians to communicate and share footage globally despite network blackouts," she added.

MacDonald also mentioned ongoing tests of "direct-to-cell" capabilities, which could allow smartphone connections without a dish, potentially expanding access and supporting free expression and protest coordination.

Musk confirmed the activation, noting on Saturday, "The beams are on."

This follows the regime’s internet shutdowns, which were triggered by Israeli military actions.

Adding to the tension, Israeli Prime Minister Benjamin Netanyahu addressed the Iranian people on Friday, urging resistance against the regime.

"Israel's fight is not against the Iranian people. Our fight is against the murderous Islamic regime that oppresses and impoverishes you,” he said.

Meanwhile, Reza Pahlavi, the exiled son of Iran’s last monarch, called on military and security forces to abandon the regime, accusing Supreme Leader Ayatollah Ali Khamenei in a Persian-language social media post of forcing Iranians into an unwanted war.

Starlink has been a beacon in other crises. Beyond Iran, Musk has leveraged Starlink to assist people during natural disasters and conflicts.

In the wake of hurricanes and earthquakes, Starlink has provided critical internet access to affected communities, enabling emergency communications and coordination.

Similarly, during the Ukraine-Russia conflict, Musk activated Starlink to support Ukrainian forces and civilians, ensuring they could maintain contact and access vital information under dire circumstances.

The genius entrepreneur, is throwing a lifeline to the oppressed in Iran, and the libs can’t stand it.

Conservative talk show host Mark Levin praised Musk’s action, reposting a message stating that Starlink would "reconnect the Iranian people with the internet and put the final nail in the coffin of the Iranian regime."

"God bless you, Elon. The Starlink beams are on in Iran!" Levin wrote.

Musk, who recently stepped down from leading the DOGE in the Trump administration, has apologized to President Trump for past criticisms, including his stance on the One Big Beautiful Bill.

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GENIUS Act lets State banks conduct some business nationwide. Regulators object

The Senate passed the GENIUS Act for stablecoins last week, but significant work remains before it becomes law. The House has a different bill, the STABLE Act, with notable differences that must be reconciled. State banking regulators have raised strong objections to a provision in the GENIUS Act that would allow state banks to operate nationwide without authorization from host states or a federal regulator.

The controversial clause permits a state bank with a regulated stablecoin subsidiary to provide money transmitter and custodial services in any other state. While host states can impose consumer protection laws, they cannot require the usual authorization and oversight typically needed for out-of-state banking operations.

The Conference of State Bank Supervisors welcomed some changes in the GENIUS Act but remains adamantly opposed to this particular provision. In a statement, CSBS said:

“Critical changes must be made during House consideration of the legislation to prevent unintended consequences and further mitigate financial stability risks. CSBS remains concerned with the dramatic and unsupported expansion of the authority of uninsured banks to conduct money transmission or custody activities nationwide without the approval or oversight of host state supervisors (Sec. 16(d)).”

The National Conference of State Legislatures expressed similar concerns in early June, stating:

“We urge you to oppose Section 16(d) and support state authority to regulate financial services in a manner that reflects local conditions, priorities and risk tolerances. Preserving the dual banking system and respecting state autonomy is essential to the safety, soundness and diversity of our nation’s financial sector.”

Evolution of nationwide authorization

Section 16 addresses several issues beyond stablecoins, including preventing a recurrence of the SEC’s SAB 121, which forced crypto assets held in custody onto balance sheets. However, the nationwide authorization subsection was added after the legislation cleared the Senate Banking Committee, with two significant modifications since then.

Originally, the provision applied only to special bank charters like Wyoming’s Special Purpose Depository Institutions or Connecticut’s Innovation Banks. Examples include crypto-focused Custodia Bank and crypto exchange Kraken in Wyoming, plus traditional finance player Fnality US in Connecticut. Recently the scope was expanded to cover most state chartered banks with stablecoin subsidiaries, possibly due to concerns about competitive advantages.

Simultaneously, the clause was substantially tightened. The initial version allowed state chartered banks to provide money transmission and custody services nationwide for any type of asset, which would include cryptocurrencies. Now these activities can only be conducted by the stablecoin subsidiary, and while Section 16(d) doesn’t explicitly limit services to stablecoins, the GENIUS Act currently restricts issuers to stablecoin related activities.

However, the House STABLE Act takes a more permissive approach, allowing regulators to decide which non-stablecoin activities are permitted. If the House version prevails in reconciliation, it could result in a significant expansion of allowed nationwide banking activities beyond stablecoins.

Is it that bad?

As originally drafted, the clause seemed overly permissive.

The amended clause makes sense for stablecoin issuers. They want to have a single regulator and be able to provide the stablecoin services throughout the United States. But it also leans into the perception outside of crypto that this is just another form of regulatory arbitrage.

The controversy over Section 16(d) reflects concerns about creating a regulatory gap that allows banks to operate interstate without the oversight typically required from either federal or state authorities. As the two Congressional chambers work toward reconciliation, lawmakers must decide whether stablecoin legislation should include provisions that effectively reduce traditional banking oversight requirements.

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If you find value in my content, consider showing your support via:

💳 PayPal: 
1) Simply scan the QR code below 📲
2) or visit https://www.paypal.me/thedinarian

🔗 Crypto – Support via Coinbase Wallet to: [email protected]

Or Buy me a coffee: https://buymeacoffee.com/thedinarian

Your generosity keeps this mission alive, for all! Namasté 🙏 Crypto Michael ⚡  The Dinarian

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Dubai regulator VARA classifies RWA issuance as licensed activity
Virtual Asset Regulatory Authority (VARA) leads global regulatory framework - makes RWA issuance licensed activity in Dubai.

Real-world assets (RWAs) issuance is now licensed activity in Dubai.

~ Actual law.
~ Not a legal gray zone.
~ Not a whitepaper fantasy.

RWA issuance and listing on secondary markets is defined under binding crypto regulation.

It’s execution by Dubai.

Irina Heaver explained:

“RWA issuance is no longer theoretical. It’s now a regulatory reality.”

VARA defined:

- RWAs are classified as Asset-Referenced Virtual Assets (ARVAs)

- Secondary market trading is permitted under VARA license

- Issuers need capital, audits, and legal disclosures

- Regulated broker-dealers and exchanges can now onboard and trade them

This closes the gap that killed STOs in 2018.

No more tokenization without venues.
No more assets without liquidity.

UAE is doing what Switzerland, Singapore, and Europe still haven’t:

Creating enforceable frameworks for RWA tokenization that actually work.

Matthew White, CEO of VARA, said it perfectly:

“Tokenization will redefine global finance in 2025.”

He’s not exaggerating.

$500B+ market predicted next year.

And the UAE just gave it legal rails.

~Real estate.
~Private credit.
~Shariah-compliant products.

Everything is in play.

This is how you turn hype into infrastructure.

What Dubai is doing now is 3 years ahead of everyone else.

Founders, investors, ecosystem builders:

You want to build real-world assets onchain.

Don’t waste another year waiting for clarity.

Come to Dubai.

It’s already here.

 

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🙏 Donations Accepted 🙏

If you find value in my content, consider showing your support via:

💳 PayPal: 
1) Simply scan the QR code below 📲
2) or visit https://www.paypal.me/thedinarian

🔗 Crypto – Support via Coinbase Wallet to: [email protected]

Or Buy me a coffee: https://buymeacoffee.com/thedinarian

Your generosity keeps this mission alive, for all! Namasté 🙏 Crypto Michael ⚡  The Dinarian

 

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