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The National
2 days ago
- Business
- The National
Amended ADGM rules on digital assets to cut approval time and attract institutional players
The changes by Abu Dhabi's financial hub ADGM to its regulatory framework for digital assets will reduce approval time for tokens and also attract more institutional players, according to analysts. The amendments streamline the process through which virtual assets (VAs) are accepted for use in the financial hub, ADGM's regulator, the Financial Services Regulatory Authority (FSRA), said. They also impose appropriate capital requirements and fees for authorised persons conducting regulated VA activities. The changes will lead to faster token approvals, since the process of adding new VAs to the ADGM's 'Accepted Virtual Assets' list has been streamlined, according to Nic Puckrin, crypto analyst and founder of The Coin Bureau, which publishes independent crypto-educational content. 'Previously, it was a lengthy and arduous process, but it will now take a lot less time, provided the token meets risk, liquidity and transparency standards,' he added. The move signals the maturing of Abu Dhabi's regulatory regime and its ambition to become a global hub for digital assets, said Devesh Mamtani, chief market strategist at Dubai-based Century Financial. These amendments also increase ADGM's competitive standing relative to other financial centres like Dubai, Singapore and Hong Kong. The amendments were implemented after 'extensive' industry engagement and feedback, according to the FSRA. Emmanuel Givanakis, chief executive of ADGM's FSRA, said the changes mark a 'significant milestone' in the evolution of its framework for digital asset regulation. 'We have further enhanced our framework to provide the regulatory certainty that industry participants need, while addressing the evolving risks of the digital asset ecosystem," he added. Several global cryptocurrency players have sought to establish a foothold in the UAE amid the country's focus on the sector. ADGM has been able to attract some of the biggest names, such as eToro and M2, allowing these companies to operate as a broker for securities, derivatives and crypto assets, and platforms for institutional and retail investors to buy, sell and hold custody of virtual assets. In December, the FSRA introduced a regulatory framework for the issuance of fiat-referenced tokens – a category of stablecoins backed by high-quality and liquid assets denominated in the same currency. 'The new amendments refine the institutional framework for digital asset companies entering Abu Dhabi and make it much simpler for them to quickly set up operations,' Mr Puckrin said. 'The timing is particularly important as the US is stepping up its efforts to be a crypto-friendly jurisdiction and many crypto companies are either moving to the US or re-establishing their presence in the US," he said. "So, if the UAE wants to compete, it has to step up, especially when it comes to attracting big institutional players. That means offering more clarity, which this updated framework appears to do, and allowing companies that meet the requirements to fast-track.' However, he warned that the framework is still relatively rigid, so companies that fall outside of the box may still face delays and red tape. The FSRA has also expanded the scope of regulated activities under the new Virtual Asset Regulatory Framework (VARF), which now includes virtual asset lending, borrowing and staking, activities that were previously unregulated, Mr Mamtani explained. "By offering a clear regulatory pathway for these services, Abu Dhabi is likely to attract a wave of digital lending and staking projects and platforms looking for legal certainty and a supportive jurisdiction," he added. The amendments also include revised capital requirements and adjusted regulatory fees to better reflect risk and activity type. This makes rules more consistent across the board and also ensures crypto companies have more buffer to account for potential risks, according to Mr Puckrin. Mr Mamtani said the framework now introduces tiered capital thresholds based on the type and scale of services offered. For instance, custody providers of virtual assets must hold either $250,000 in base capital or six months' audited operating expenses. Multilateral trading facilities handling virtual assets are now required to hold six months' operational expenses plus any additional buffer. Additionally, virtual asset service providers must now comply with enhanced custody and safeguarding rules, with a stronger focus on the segregation of client assets and technological risk management, Mr Mamtani said. The amendments also introduce specific product intervention powers in relation to VAs. The FSRA now has formal authority to restrict or prohibit virtual asset products that pose undue risk to investors or markets. In addition, privacy coins and algorithmic stablecoins remain explicitly prohibited from being listed or used in ADGM. The amendments also expand the scope of investments in which venture capital funds may invest. ADGM-authorised VC funds can now invest more broadly in digital asset businesses, including infrastructure and services. The move positions ADGM as one of the most 'institutionally comprehensive' crypto regulators globally, Mr Puckrin said. This is part of Abu Dhabi's broader strategy to attract institutional digital asset firms and tokenisation projects under 'strong, rule-based supervision', he added.
Yahoo
25-05-2025
- Business
- Yahoo
Bitcoin, Dogecoin Green But XRP Struggling On Wednesday Morning
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Cryptocurrency markets are stable on Wednesday morning, with Bitcoin retreating to $106,000 after tapping $108,000 during Asia trading Price Gains +/- Bitcoin (CRYPTO: BTC) $106,244.58 +0.95% Ethereum (CRYPTO: ETH) $2,519.57 +0.13% Solana (CRYPTO: SOL) $168.03 +0.7% XRP (CRYPTO: XRP) $2.33 -0.6% Dogecoin (CRYPTO: DOGE) $0.2251 +1.9% Shiba Inu (CRYPTO: SHIB) $0.00001443 +1.1% Notable Statistics: IntoTheBlock data shows Bitcoin and Ethereum daily active addresses increased by 5.5% and 6.4%, respectively. BTC's large transaction volume went up by 10%. Coinglass data shows 90,882 traders were liquidated in the past 24 hours for $257.09 million. SoSoValue data shows $329 million in net inflows into spot Bitcoin ETFs and $64.9 million net inflows into spot Ethereum ETFs. Trader Notes: Nic Puckrin, co-founder of CoinBureau, noted a wave of limit orders above $107,500 caused a sharp rejection at $108,000. He warned that the road to new all-time highs would remain volatile. Trending: — no wallets, just price speculation and free paper trading to practice different also highlighted that $1.01 billion in short positions are set to be liquidated at $108,000. If triggered, these shorts could fuel a rapid BTC surge as bears are forced to buy back into the market. Dogecoin continues to defy broader market inertia. Javon Marks compared the current cycle to previous bull runs and projected a 215% rally, taking DOGE to a minimum of $0.73905. IncomeSharks remains bullish on Ethereum, sticking to a $3,000 target—and even eyeing $4,000, provided the $2,515 support holds. He admitted his only regret is not being more bullish on ETH earlier. Crypto Bitlord made a bold prediction: "If Bitcoin hits $400,000, then XRP at $80 becomes not just possible, but easy." He dismissed ETH and Solana as "too safe," suggesting they won't produce the generational wealth this cycle could offer. Read Next: New to crypto? Get up to $400 in rewards for successfully completing short educational courses and making your first qualifying trade on Coinbase. A must-have for all crypto enthusiasts: Sign up for the Gemini Credit Card today and earn rewards on Bitcoin Ether, or 60+ other tokens, with every purchase. Send To MSN: Send to MSN This article Bitcoin, Dogecoin Green But XRP Struggling On Wednesday Morning originally appeared on Sign in to access your portfolio
Yahoo
11-05-2025
- Business
- Yahoo
Bitcoin, Ethereum, XRP Surge As Experts Predict BTC To $112,000 Soon
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Bitcoin (CRYPTO: BTC) is pushing toward the $100,000 mark once again, with analysts forecasting a potential breakout to $112,000 and beyond, while warning that altcoins remain structurally weak amid rising dominance and macro shifts favoring BTC. What Happened: At the time of writing, Bitcoin trades at $99,350, up 2.5% in the last 24 hours after hitting a session high of $99,868. The broader crypto market is showing signs of bullishness, with Ethereum (CRYPTO: ETH) climbing 7.5% to $1,965, Solana (CRYPTO: SOL) up 5.4%, BNB (CRYPTO: BNB) gaining 1% and XRP (CRYPTO: XRP) rising 4%. Still, the divergence between Bitcoin and altcoins remains stark. Trending: — no wallets, just price speculation and free paper trading to practice different strategies. What Experts Are Saying: According to Nic Puckrin, analyst and founder of The Coin Bureau, Bitcoin's current momentum is driven more by geopolitical developments than monetary policy. "Markets this morning are reacting to President Donald Trump's hint at a major UK trade deal, not Fed policy," he said. "If the announcement is concrete, today could be the day BTC cracks $100,000 again." Puckrin added a note of caution for short-term traders. "BTC is rallying on low volume, and if Trump's announcement lacks specifics, we could see volatility spike." Longer term, however, Puckrin remains optimistic. "ETF inflows remain strong, and legislative momentum like reserve bills in New Hampshire and Arizona, continues to build. Add to that China's recent liquidity moves, and it's shaping up to be a very strong month for Bitcoin." Technical signals also point to more upside. FxPro's chief market analyst Alex Kuptsikevich noted that the crypto market has broken above its 200-day moving average and now targets $3.2 trillion in total market cap. "Bitcoin reaching $99,000 sets up a Fibonacci extension that could push it past $112,000, with broader upside aiming toward $162,000," he said. That bullishness stands in stark contrast to the altcoin sector, which has been heavily under Next: According to a new report from 10x Research, the top 140 altcoins are down an average of 58% since their December 2024 peak, while Bitcoin has dropped just 3% over the same period. The divergence, analysts say, is explained by a mix of supply gluts and lackluster narratives. "$57 billion in annual token unlocks have overwhelmed demand," the report notes. "With venture capital tightening and no breakout use case, altcoins are stuck in a structural downtrend." As a result, Bitcoin dominance has surged to 64.5%, the highest since ETF approvals began, while Ethereum gas fees have fallen from 16 Gwei to just 3 Gwei, highlighting collapsed on-chain activity. Even as major altcoins show modest daily gains, their cumulative performance paints a more fragile picture. Meanwhile, $376 million in liquidations over the past 24 hours, $86 million in longs and $290 million in shorts, suggest ongoing volatility as traders adjust to the new market structure. Read Next: New to crypto? Get up to $400 in rewards for successfully completing short educational courses and making your first qualifying trade on Coinbase. A must-have for all crypto enthusiasts: Sign up for the Gemini Credit Card today and earn rewards on Bitcoin Ether, or 60+ other tokens, with every purchase. Image: Shutterstock Send To MSN: Send to MSN This article Bitcoin, Ethereum, XRP Surge As Experts Predict BTC To $112,000 Soon originally appeared on Sign in to access your portfolio
Business Mayor
04-05-2025
- Business
- Business Mayor
There's No Altseason Without These 3 Key Indicators, Analyst Says
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure CEO and Co-founder of crypto education media firm Coinbureau, Nic Puckrin has shared a 'realistic' take on the altseason. The former TradFi entrepreneur and prominent digital asset advocate has highlighted three necessary conditions to usher in an altseason. Altseason Still On Ice: What Needs To Change The altseason defines a period in the crypto bull market where altcoins significantly outperform Bitcoin. It is an entirely anticipated event, presenting investors with the opportunity to register massive profits due to the smaller market caps of altcoins compared to Bitcoin. However, the potential of altseason in the current bull cycle has been previously questioned, with analysts citing the rising number of altcoins compared to previous cycles. In contributing to this discourse, Puckrin states that an altseason usually occurs 320 days after the Bitcoin halving, a target that has been met following the last halving in April 2024. However, Pukrin explains an altseason for this current bull cycle can only occur following the development of three crucial signals. Firstly, the analyst states that Bitcoin dominance must fall below 54%. The Bitcoin dominance measures BTC's share of the total crypto market. It represents the percentage of crypto investment that is in Bitcoin. Notably, an altseason only occurs after Bitcoin Dominance begins to fall, indicating that investors are rotating their capital into altcoins. Nic Puckrin explains that Bitcoin Dominance must stop rising and fall below the 54% threshold to confirm this rotation. However, despite the need for this fall in BTC Dominance, the Coin Bureau boss further states that Bitcoin must break above its current all-time high to induce an altcoin bull market. However, the premier cryptocurrency must achieve this feat without pulling all the liquidity from the market. It is worth noting that in prior cycles, an altcoin market rally comes after Bitcoin establishes market dominance, then consolidates, giving room for investors to move their liquidity to lower-cap speculative assets. Nic Puckrin's final condition states the US Federal Reserve must cease all Quantitative Tightening (QT) measures and confirm incoming rate cuts to counter the current interest rates above 4%. In doing so, the Fed can induce in rise in market liquidity, which is necessary for altseason. Crypto Market Overview At the time of writing, the total crypto market has now reclaimed the $3 trillion mark following the general bullish swing in the past week. Meanwhile, market trading volume is down by 16.82% and valued at $68.83 billion. Notably, the altcoin season index is still at 21, indicating that Bitcoin still outperforms a large percentage of the altcoin market, and there is no altseason in view for now. Historically, altseasons occur when the index is above 75, which indicates broad-based strength across altcoins. Total crypto market cap valued at $2.96 trillion on the daily chart | Source: TOTAL chart on Featured image from Pexels, chart from Tradingview
