🟥 The Office of the Comptroller of the Currency in the United States announced on Tuesday that banks will be allowed to act as intermediaries in cryptocurrency transactions, in a new step by President Donald Trump's administration to bridge the gap between the traditional financial sector and digital currency activities.
📌 The office stated in new guidelines that banks can participate in what is known as "risk-free intermediary transactions," which involve crypto assets, without undergoing additional scrutiny from the regulator.
📌 In this type of transaction, banks effectively act as intermediaries, purchasing assets from one party and then entering into a deal to sell them directly to another party, without holding these assets in inventory except in rare cases, according to the Office of the Comptroller.
News about the relocation of the headquarters of Binance cryptocurrency company to Abu Dhabi 🇦🇪
The official headquarters is now the Cayman Islands.
Binance has obtained 3 licenses from the Abu Dhabi Global Market (ADGM):
1- Trading platform: to operate a fully licensed cryptocurrency exchange 2- Custody and settlement services: to securely store investors' funds and assets 3- Financial broker-dealer: to execute large transactions off the platform
What does this mean? This means that Binance is now able to manage all of its operations from Abu Dhabi legally, from trading to custody to settlement.
--- - Binance currently holds about 35% of the global cryptocurrency market - The UAE is considered one of the first countries to grant it a license of this magnitude
And it invested a huge amount of $2 billion from the MGX fund, chaired by Sheikh Tahnoun bin Zayed Al Nahyan
$BTC $ETH ⭕️ The most prominent developments within the Federal Reserve
⬅️ Recent reports indicate that divisions within the Federal Reserve have reached their highest levels in years, with a clear disagreement among members regarding interest rate cuts in December. Bank of America estimates that an interest rate cut is likely, with additional cuts possible in mid-2026 if the labor market remains weak.
⬅️ The latest minutes also revealed a shift in the positions of some members who now oppose a third cut this year due to inflation risks. At the same time, the discussion about nominating Kevin Hassett to lead the Federal Reserve is generating widespread controversy, with some viewing him as a proponent of rapid cuts and others fearing his impact on the independence and calmness of monetary policy.
⚠️ Clear internal tension… and December decisions may bring surprises for the markets.
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Some of the largest banks in America 🇺🇸 are experiencing a state of concern and urgency to assess the implications of a major breach targeting one of the providers, which could lead to the exposure of sensitive customer data.
⚠️ The provider, SitusAMC, is used by hundreds of banks and lenders to assist in the creation and collection of funds related to mortgage loans and mortgages.
⭕ Breaking | U.S. President Donald Trump accused Ukraine again on Sunday of being "ungrateful" for Washington's support against the Russian invasion, at a time when senior representatives from the United States and Ukraine were meeting in Geneva to discuss a proposal to end the war. ⬅️ Trump wrote on his platform "Truth Social" that "Ukrainian leadership has not expressed any gratitude for our efforts," while reiterating his frustration over the "humanitarian disaster" caused by the war and attacking his predecessor Joe Biden, but he did not offer any direct condemnation of Moscow.