USDC issuer Circle has secured in-principle approval from Abu Dhabi’s financial regulator. This move marks a key step for the fintech giant in expanding its presence across the Middle East and Africa (MEA). Besides, the approval also highlights the UAE’s role as a leading hub for regulated digital finance innovation.
USDC Issuer Circle Wins Major Approval In Abu Dhabi
The stablecoin issuer revealed that it had received initial regulatory clearance from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM). The FSRA approval allows the company to progress toward a full Financial Services Permission (FSP) to operate as a money services business in the UAE.
This marks a major step forward for the USDC issuer, which was formally incorporated in ADGM in December 2024. CEO Jeremy Allaire highlighted the UAE’s openness to regulated innovation. He stated the country is becoming a global model for building a resilient Internet financial system.
Meanwhile, Allaire said this approval helps the fintech firm to build lasting ties in markets that support blockchain-based finance. He also emphasized the firm’s long-term commitment to compliance and transparency, stating that regulatory clarity can drive meaningful innovation.
Dante Disparte, Circle’s Chief Strategy Officer, echoed this sentiment. He said the move is not just a regional milestone but a strong global message that oversight and innovation can go hand-in-hand. According to Disparte, the firm’s infrastructure is designed to support the safe adoption of stablecoins worldwide.
ADGM also welcomed the development. Arvind Ramamurthy, its Chief of Market Development, said the company’s approach fits perfectly with ADGM’s goal to become a global fintech hub. He noted that Circle’s presence will boost the growth of future-ready financial services across the region.
New Collaboration To Boost Fintech Innovation
In addition to the regulatory win, Circle announced a strategic tie-up with Hub71, Abu Dhabi’s global tech ecosystem. The two plan to collaborate on programs inside ADGM’s digital sandbox.
This includes grants, mentorship opportunities, and access to venture capital for startups working in Web3 and digital assets. The fintech firm will also become a part of Hub71’s digital assets network, connecting with over 500 startups and global investors.
Meanwhile, this news follows Circle’s launch of a global payment network last week. The move sparked speculation that the stablecoin issuer may be gearing up to compete with Ripple in the cross-border payment space.
Besides, the broader stablecoin market has also gained notable traction recently. This comes as analysts at Citigroup project the stablecoin market could reach $1.6 trillion by 2030. A recent Bitcoin price analysis also showed that BTC could hit $475K if this Citigroup prediction holds true, reflecting how the stablecoins might influence the market trajectory.
Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.
Grab a coffee to view the market from the eyes of financial experts across TradFi and crypto. Given the more established financial channels, there is growing overlap, with Bitcoin (BTC) inadvertently benefiting from TradFi woes.
Crypto News of the Day: Max Keiser Says Bitcoin and Saylor Are the Future
Warren Buffett made the ultimate case for Bitcoin as the American investor considers stepping down as CEO of Berkshire Hathaway.
Pending board approval, Buffett could step aside at the end of the year, giving way for Greg Abel, vice chair of non-insurance operations, to become Berkshire’s new chief.
This revelation came at Berkshire Hathaway’s annual shareholder meeting on May 3, 2025, where Buffett also offered a stark warning about the long-term value of the US dollar.
He noted that every system eventually debases its currency. According to Warren Buffett, government decisions make paper money lose value over time.
“In the end, if you get people to control the currency, you can issue paper money, and you will,” Buffett told shareholders in Omaha.
Warren Buffett Slams US Fiscal Policy at Berkshire Hathaway Annual Shareholder Meeting
Without naming alternatives such as Bitcoin, the 93-year-old investor cautioned against holding assets denominated in a currency he said was systematically devalued by government policy.
“The natural course of government is to make the currency worth less over time… Some places devalue at breathtaking rates… it’s not evil, it’s just their job,” he added.
The investing icon said that if his late partner, Charlie Munger, had to choose a second area besides stocks, he would have gone into foreign exchange.
These remarks suggested an openness to non-traditional assets. Bitcoin advocate and broadcaster Max Keiser responded to the remarks in an interview with BeInCrypto.
Max Keiser interprets Buffett’s comments as a tacit validation of the thesis behind Bitcoin.
“Executive chairman and co-founder of MicroStrategy Michael Saylor is the Warren Buffett of the 21st century. He saw what Buffett described and built his strategy around it,” Keiser started.
“Warren Buffett built his empire on money printing. Most of his holdings over the years have been in banks, insurance companies, and financial services,” Keiser claimed.
In his view, Buffett benefited from having political leverage in Washington, particularly during the 2008 financial crisis. During this time, Keiser says, his [Buffett] investments in Wall Street institutions aligned with government-led rescue efforts.
Buffett’s Role During The 2008 Financial Crisis Is Well Documented
Michael Saylor, meanwhile, has taken a dramatically different approach. Under his leadership, MicroStrategy (now Strategy) began acquiring Bitcoin in 2020 as part of its corporate treasury strategy. The firm cited concerns about the long-term debasement of fiat currencies.
As of early 2025, the company holds more than 200,000 BTC, worth tens of billions of dollars at current market prices. A recent US Crypto News publication revealed one of Strategy’s latest Bitcoin purchases.
Buffett has long been critical of Bitcoin, famously calling it “rat poison squared” in 2018. However, some in the digital asset space have interpreted his recent comments about currency debasement as aligning with core arguments made by Bitcoin proponents.
Based on his remarks, the American investor and philanthropist is concerned about the US fiscal policy.
His comments allude that while he may not like Bitcoin, he clearly understands why it exists. Sentiment on X (Twitter) shows that community members took notice.
Responses suggest that if Warren Buffett understands money and its flaws manifested in fiat form, why does he not endorse Bitcoin as the solution?
“Warren Buffet talks about the virtues of Bitcoin without mentioning Bitcoin,” one user on X quipped.
Meanwhile, others hope Buffett’s prospective replacement as CEO will see the next Berkshire Hathaway chief to lead the company in a different direction, potentially adopting Bitcoin.
A spokesperson for Berkshire Hathaway did not immediately respond to a request for comment on Keiser’s remarks.
Elsewhere, and in line with Buffett’s statement about foreign exchange, QCP Capital analysts cite a remarkable 8% rally in the Taiwanese Dollar (TWD) on Monday.
They cite this as the TWD’s sharpest move in decades, alongside gains in other APAC currencies with strong current account surpluses. According to the analysts, speculation over a potential US-Taiwan trade deal drove this rally, as did insurer-hedging flows, pushing TWD’s 1Y NDF spread to its widest since 2008.
While Taiwan’s trade surplus supports the TWD, capital outflows have historically balanced it. This shift mirrors past foreign exchange dislocations like the 2023 JPY carry unwind.
For crypto, the move signals possible macro volatility ahead, with gold up 3% and BTC facing a binary path tied to global capital flows and trade diplomacy.
“In a market where correlations are fraying, FX may once again be the canary in the macro coalmine,” wrote QCP analysts.
Chart of the Day
US dollar index (DXY) performance year-to-date. Source: TradingView
The chart shows the US Dollar Index (DXY) trend from 2025, reflecting fluctuations in the value of the US dollar against a basket of major currencies. It indicates a downward movement from February to May, with a recent slight recovery.
Byte-Sized Alpha
Here’s a summary of more crypto news to follow today:
A new discussion draft introduces a framework to reduce market concentration and foster innovation. The bill clarifies jurisdiction between the SEC and CFTC, emphasizing decentralized systems and providing regulatory clarity for digital asset markets.
Texas Bitcoin Reserve proposal passed a Senate vote with 25 out of 30 votes in favor. It will require another vote in the House of Representatives to reach the Governor and become law, but the progress is very encouraging.
Several other state-level reserve proposals failed due to Republican Party defections. In Texas, however, most Democrats voted in favor. This bill does not trigger mandatory Bitcoin purchases yet, which was a major sticking point with fiscal conservatives.
“The Texas Bitcoin Reserve Bill passed the Senate with some Democrat support. (The final vote was 25 – 5, and there are 11 Democrat Senators). If there is similar cross-aisle support in the House, then the bill’s prospects for success are good,” a legislative watchdog claimed on social media.
The effort to pass a Bitcoin Reserve in Texas has been an important piece of crypto regulation for several reasons. Obviously, Texas is a large and economically vital area, with the second-largest GDP of all US states.
Additionally, this effort represents a crucial chance to defeat a losing streak in state-level Reserve bills.
Essentially, these bills would trigger up to $23 billion in Bitcoin purchases nationwide, which thrilled the crypto community. There’s just one problem: the Republican Party values fiscal conservatism.
However, approval at this stage does not inevitably trigger this sort of spending, and now Texas can join states like Utah and Arizona as the leaders in this race.
Texas’ Position in the Bitcoin Reserve Race. Source: Bitcoin Laws
What’s Next for the BTC Reserve Bill in Texas?
Despite today’s win, the fight for a Texas Bitcoin Reserve is far from over. The bill will now move to the state’s House of Representatives, which has more than five times as many members.
More specifically, the Texas House of Representatives has 89 Republican members and 62 Democrats. In theory, this should be a clear win, as Republicans are largely pro-crypto.
However, this wasn’t the case in Montana, North Dakota, South Dakota, Pennsylvania, and Wyoming, where several Republican members voted against the respective BTC reserve bills.
The Texas bill passed the Senate with near-unanimous support, but it might be more contentious before a larger body. In any event, it’s a win, and the Bitcoin Reserve efforts could use a victory right now.
Donald Trump announced today that he’s instituting a 90-day pause on all tariffs except those on China. Bitcoin has surged over $80,000, while altcoins like XRP, Solana, and Cardano surged more than 10% in just minutes of the announcement.
The Dow Jones and stock market reacted similarly, surging by 2,000 points after the news. The US President has now added a total of 125% tariff on China, while pausing others.
Today, however, Trump has made a surprising reversal. Although he is increasing tariffs against China to 125%, he is repealing those on other nations.
Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately. At some point, hopefully in the near future, China will realize that the days of ripping off…
— Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) April 9, 2025
This news immediately caused a substantial rally in the markets. At 1:30 PM Eastern Time, the Dow Jones responded by shooting upwards over 2000 points, and this was mirrored in other high-profile stocks.
Dow Jones Reacts to Tariff Relief. Source: Google Finance
Still, the erratic nature of Trump’s tariff strategy has left more than a few open questions. In his announcement, Trump only mentioned China’s retaliation strategy by name, lumping all other countries together.
However, a few crucial markets, like the EU, also retaliated. It is currently unclear how Trump will treat other actors, as China is his main target.
Open questions like this may continue to cause market uncertainty. As analyst Joe Wiesenthal pointed out, Trump has already caused a lot of economic chaos with his tariff threats alone.
Will he retaliate against nations other than China? Will former allies continue pulling away from the US? These live questions may frustrate long-term economic gain
