News Roundup — Dubai Government-Owned Bank Emirates NBD Offers Crypto Trading Through Liv X App

Major news stories this week;

1. Dubai Government-Owned Bank Emirates NBD Offers Crypto Trading Through Liv X App
2. ‍Trump Signs Order to Create a ‘Crypto Reserve’‍
3. USDC Becomes First Dollar-Pegged Stablecoin Approved in Japan‍
4. Binance Announces Community Voting Mechanism for Token Listings‍
5. Colombian Lawmakers Reintroduces Bill to Regulate Crypto With 16 Provisions

Story Summaries;

1. ‍Emirates NBD, Dubai's government-owned bank, is offering crypto trading through its digital banking app, Liv X. The service utilizes infrastructure from Aquanow, a digital asset platform licensed by Dubai's Virtual Assets Regulatory Authority (VARA). This move highlights Dubai's growing role as a crypto hub, with clear licensing rules attracting major exchanges.‍
2. President Trump signed an executive order to create a national Bitcoin reserve, primarily based on seized Bitcoin worth up to $17 billion. The order also directs the U.S. to buy more Bitcoin, aiming to establish the U.S. as the "crypto capital of the world." While some critics express concern over cryptocurrency volatility, supporters see it as a move toward greater adoption and economic dominance.‍
3. USDC has become the first dollar-pegged stablecoin approved for use in Japan, with crypto exchange SBI set to distribute it to Japanese investors. The approval follows Japan's 2023 stablecoin legislation, which requires stablecoins to be linked to legal tender and issued by licensed entities. USDC, with a market cap of $56 billion, is now available for trading to a limited number of users starting March 12.‍
4. Binance has introduced a community voting system for token listings, allowing users to vote on which projects to list or delist. This comes amid the rapid growth of new cryptocurrencies, prompting exchanges like Coinbase to rethink their listing processes, with Coinbase considering an "allow-list" and "block-list" approach.‍
5. Two Colombian regulators have proposed a crypto bill with 16 provisions, including a VASP licensing system, anti-money laundering measures, and rules on marketing and taxation. The bill aims to protect users and attract investment by formalizing the crypto industry, addressing risks from unregulated firms.
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And that’s all for last week’s news! Wishing you a great week ahead!