Somewhere between the sand and the skyscrapers, America’s mighty Circle has acquired what the officials in Abu Dhabi refer to as “in-principle approval” from the FSRA, which is a bit like being told you may enter the house provided you promise not to touch anything. This, they say, brings Circle a tad closer to acquiring the actual Financial Services Permission, a document so coveted that even poets would weep for it (if only their creditors accepted stablecoins).
Jeremy Allaire, who perhaps gets more headwinds than tailwinds, found a moment’s respite to declare: “This advances our onchain global roots,” a phrase that would terrify most botanists and delight notaries. He went further, speaking of trust and compliance and the “internet financial system”—which is a phrase one expects to read on a fortune cookie for robots. To this, the FSRA responded with a quiet nod and, quite possibly, a cup of tea.
Circle, Hub71, and the Digital Sandbox—Bring Your Pails!
Because two’s company, Circle then made eyes at Hub71, Abu Dhabi’s finest tech hive. The two will frolic in the digital regulatory sandbox, which is just like the sandbox you had as a child but with more lawyers and fewer cats. In this sacred ground, Circle will instruct over 500 tech startups and investors in the ancient art of “not losing everyone’s money.” Magical, isn’t it?
Circle’s wondrous USDC token, second only to that other digital marvel, boasts $62.03 billion in circulation. (It appears people love their digital tokens the way Anton Pavlovich loved a long sentence.) The world, having apparently run out of new hobbies, grows ever fonder of stablecoins. ✨
Abroad, Circle stretches its prodigious limbs even further. In July 2024, it waltzed through MiCA’s regulatory maze in the EU. In Japan, the Circle befriended SBI Holdings and—on a day spring was surely late—launched USDC trading through SBI VC Trade, the very first to do so under Japan’s brandished regulatory sword. You see, if all the world’s a stage, Circle will at least run the box office. 🎭
UAE: Where Web3 Dreams and Real Estate Collide
The United Arab Emirates, never shy of ambition (or architects), is determined to become a kind of Venice for Web3—minus the gondolas, plus more Wi-Fi. In August 2024, they sashayed to third place in the grand crypto adoption index, beating out many and annoying probably more. Meanwhile, Dubai signed an agreement to entwine digital assets and real estate with the hope that one day, people might buy villas with nothing but a smile and a private key.
So, gentle reader, if you find yourself wandering the deserts of fortune, remember: regulation is temporary, cryptocurrency is volatile, but sarcasm is forever. 🐪😉
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2025-04-29 15:54