Ripple Gains First Dubai License
Bitdeer Grows BTC Holdings 75%
El Salvador Keeps Stacking Bitcoin
OCC Grants Banks Crypto Freedom
Ripple’s becomes first blockchain to acquire Dubai regulatory approval for cross-border payment
Ripple has achieved a significant regulatory milestone by securing a license from the Dubai Financial Services Authority (DFSA), making it the first blockchain payment provider to receive such approval.
The announcement on March 13 follows an initial in-principle clearance, paving the way for the company to expand its services in the region.
Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, emphasized that the DFSA approval is pivotal.
He noted that the license enables Ripple to address the growing demand for seamless, cost-effective, and transparent payment solutions in a critical global trade and remittances region.
This development adds to Ripple’s expanding regulatory footprint. The company now holds over 60 licenses worldwide, including a Major Payments Institution license from the Monetary Authority of Singapore (MAS), a Trust Charter from the New York Department of Financial Services (NYDFS), Virtual Asset Service Provider (VASP) registration from the Central Bank of Ireland, and multiple Money Transmitter Licenses (MTLs) across the United States
Why UAE?
This marks Ripple’s first full regulatory license in the Middle East, highlighting its strategic focus on compliance and financial innovation.
The UAE is a key player in global finance, and according to World Bank data, its cross-border payments market is valued at approximately $40 billion.
Ripple noted that the demand for efficient international transactions continues to rise as both digital asset firms and traditional financial institutions seek alternatives to outdated payment infrastructures.
Considering this, Ripple’s approval in the UAE would allow businesses in the region to use its enterprise-grade payment solutions, which are designed to enhance transaction speed, reduce costs, and improve transparency.
Since establishing its regional headquarters at the Dubai International Financial Centre (DIFC) in 2020, Ripple has strengthened its presence in the Middle East.
With the region already accounting for 20% of its global customer base, the new license positions the company for further growth in one of the world’s most active financial corridors.
Bitcoin Miner Bitdeer Increases BTC Holdings by 75% to 1,039 BTC in Two Months
Bitdeer Technologies (BTDR) boosted its bitcoin (BTC) holdings by almost 75% in two months by redirecting some of its mining rigs to self production after customers asked to delay payments for the SEALMINER A2 units during the largest cryptocurrency’s price decline.
The Singapore-based company’s holdings rose to 1,039 BTC as of February 2025, up from 594 BTC in December, it said in a release. The increased holdings position it among the top bitcoin miners when it comes to BTC treasuries. Still, it trails behind the largest holders: MARA
Bitdeer’s main focus is the development of its bitcoin mining chips, and says its new A3 miner achieved significant energy efficiency in recent tests. It posted a $531.9 million net loss for the fourth quarter, attributed to investments in the development of its mining rigs.
The mining firm produced 110 BTC in February, down from 126 BTC in January, in part because of the shorter month. Its total proprietary hash rate increased to 9.4 exahashes per second (EH/s), up from 8.9 EH/s in December.
The company’s shares rose 0.85% to $10.66 in Nasdaq trading.
El Salvador defies IMF, continues Bitcoin purchases amid market downtrend
El Salvador has reinforced its commitment to Bitcoin despite repeated cautions from the International Monetary Fund (IMF).
On March 9, El Salvador’s Bitcoin Office confirmed that the country acquired six BTC for around $500,000
According to the statement, the Nayib Bukele-led country added five BTC to its reserves while purchasing one BTC daily.
Following this acquisition, the country has accumulated 18 BTC—valued at approximately $1.4 million—over the past week.
According to official data, this brings El Salvador’s total Bitcoin purchases in March to around 19 BTC. The country now holds approximately 6,111 BTC, worth over $504 million at current market prices.
Meanwhile, this latest purchase coincides with Bitcoin’s recent market decline of approximately 12%, with prices hovering around $80,000.
Stacy Herbert, director of El Salvador’s Bitcoin Office, highlighted that the country has repeatedly leveraged market downturns to strengthen its holdings. She noted that El Salvador made similar purchases during Bitcoin’s last three major dips.
IMF tensions
Despite initial agreements between both parties, El Salvador’s continued Bitcoin purchases directly challenge the IMF’s conditions tied to a $1.4 billion financial aid package.
Last week, the IMF published a report outlining its proposed agreement with El Salvador after nearly four years of negotiations. The deal required the country to reduce public sector involvement in Bitcoin-related activities and implement stricter digital asset monitoring rules to align with international financial standards.
Additionally, the IMF sought to restrict the Central American country from voluntarily purchasing Bitcoin, including acquisitions through mining operations. The agreement permitted Bitcoin holdings only from seizures, forfeitures, and other legal actions.
Notably, El Salvador had previously adjusted its policies to accommodate international concerns, including revoking the requirement for businesses to accept Bitcoin and scaling back its use for tax payments.
However, its continued purchases suggest a commitment to the top crypto. President Bukele maintains the country’s stance, emphasizing that BTC acquisitions would continue.
OCC Allows Banks to Engage in Crypto Without Prior Approval
The U.S. Office of the Comptroller of the Currency (OCC) has taken a major step in changing how banks interact with cryptocurrency. In a statement released Friday, the OCC confirmed that national banks can now participate in certain crypto-related activities without needing prior approval from regulators.
This marks a shift from previous policies, particularly those under the Biden administration, which required banks to get clearance from supervisors before engaging in crypto activities. The newly issued Interpretive Letter 1183 states that banks are allowed to offer crypto-asset custody, conduct some stablecoin-related transactions, and participate in distributed ledger networks without first getting a regulatory sign-off.
Acting Comptroller of the Currency Rodney Hood stressed that while banks now have more freedom, they must still have solid risk management measures in place.
“The OCC expects banks to have the same strong risk management controls in place to support novel bank activities as they do for traditional ones,” Hood said. “Today’s action will reduce the burden on banks to engage in crypto-related activities and ensure that these bank activities are treated consistently by the OCC, regardless of the underlying technology.”
Alongside this clarification, the OCC has rescinded earlier guidance that required banks to prove they had sufficient risk controls before offering digital asset services. The agency also withdrew from past joint statements with other U.S. regulators that had warned about the risks of banking with cryptocurrencies.
One such statement from 2023 highlighted the sector’s “significant volatility” and warned that banks engaging in crypto would face close scrutiny.
The timing of the announcement is no coincidence. It came on the same day as a crypto summit at the White House and just hours after President Donald Trump signed an executive order to create a strategic reserve for Bitcoin and other major cryptocurrencies. This shift signals a more welcoming stance toward digital assets in the U.S. financial system, making it easier for banks to enter the crypto space.
The Office of the Comptroller of the Currency recently lifted prior limits, granting national banks broader entry into cryptocurrency. The Office of the Comptroller of the Currency just rolled back some old rules, giving national banks the green light to jump into cryptocurrency in a bigger way.
This could mean digital cash starts showing up more in the banking we all use. But banks aren’t rushing in blind—they’ve got to keep their guard up, setting up strong protections against the ups and downs of this crazy market.
Crypto Summit Highlights: Donald Trump Reveals Major Plans for Crypto industry
The White House hosted its first-ever crypto summit on March 7, 2025, marking a pivotal moment in the U.S. government’s stance toward digital assets. President Donald Trump, during the crypto summit, unveiled a series of major initiatives aimed at reshaping the crypto landscape in America.
With an audience of top executives from leading crypto companies including Ripple CEO Brad Garlinghouse, Donald Trump made it clear that his administration is set to bring a new era of support for the digital asset industry.
Donald Trump Promises End of Operation Chokepoint 2.0
One of the key announcements at the crypto summit was President Donald Trump’s pledge to end “Operation Chokepoint 2.0.” This initiative had seen regulatory pressure on banks, leading them to close accounts of crypto businesses. Trump expressed strong disapproval of these actions, stating that the government had “weaponized” the banking system against the industry.
He assured crypto CEOs that this era of resistance would soon be over, emphasizing that the government’s stance on crypto would now be more favorable. The president also called for continued legislative efforts to provide regulatory certainty for the crypto market, particularly regarding stablecoins.
President Donald Trump highlighted the importance of stablecoin legislation, which he hopes to sign before Congress goes on its summer break in August. He noted that the growth and innovation in the financial sector would benefit from clear rules surrounding these assets. Many of the major players in the crypto space, including executives from Coinbase, Gemini, and Ripple, were present at the summit, reinforcing the industry’s support for these developments.
Launch of Bitcoin Reserve Initiative
A major highlight of the crypto summit was reflecting on the announcement of a strategic Bitcoin reserve by the President Donald Trump’s administration yesterday. The reserve will be seeded with Bitcoin already held by the U.S. government, largely obtained through criminal and civil asset forfeitures.
The president referred to this reserve as a “digital Fort Knox for digital gold” and made it clear that the government would not sell the Bitcoin in its possession. This move is part of a broader strategy to position the U.S. as a leading nation in the cryptocurrency space.
President Donald Trump stressed that holding Bitcoin would not only serve as a store of value but would also demonstrate the U.S.’s commitment to the digital asset ecosystem.
The reserve is expected to play a significant role in the government’s strategy for managing its digital asset holdings. It is worth noting that the reserve’s creation does not involve taxpayer money, as the Bitcoin being held was obtained through non-taxpayer sources.
Future Expansion of the U.S. Crypto Stockpile
Alongside the Bitcoin reserve, Trump’s administration revealed plans to create a broader U.S. crypto stockpile. This stockpile will include digital assets beyond Bitcoin, with the U.S. government maintaining a reserve of assets seized through criminal or civil proceedings.
Although Bitcoin is the primary focus for now, the government may consider adding other digital assets such as Ethereum, XRP, Solana, and Cardano in the future.
The strategic intent behind these initiatives is to position the U.S. government to benefit from the long-term potential of digital assets. President Donald Trump’s administration views digital assets, particularly Bitcoin, as valuable for both economic growth and innovation. As part of the strategy, officials have also stated that no taxpayer funds will be used for future acquisitions of Bitcoin or other digital assets. Treasury Secretary Scott Bessent mentioned that the reserve would begin with seized assets but could expand further depending on future government decisions.
Concurrently, throughout the crypto summit, President Donald Trump expressed his support for legislative efforts aimed at clarifying the regulatory framework for the cryptocurrency industry. In addition, the president urged lawmakers to continue their efforts, acknowledging the importance of getting the regulatory landscape right to foster economic growth and innovation.
