UAE AI Bank Zand Receives Crypto Custody License

Zand, the UAE’s first fully licensed AI-powered digital bank, has secured a crucial license to offer digital asset and crypto custody services. The Virtual Assets Regulatory Authority (VARA) in Dubai approved Zand’s application, making it the first UAE bank to provide institutional-grade crypto custody under its banking license. This development signals a growing acceptance of digital assets within the region.

Senator’s Vote on SEC Commissioner Looms

Meanwhile, the US Senate is facing a tight deadline for a vote on SEC Commissioner Caroline Crenshaw’s renomination. The vote, initially scheduled for an earlier date, has been postponed and now needs to take place within the next few days. This delay and the potential for opposition from the crypto industry could significantly impact crypto regulation and could lead to single-party control of the SEC. The confirmation outcome is critical for the future of cryptocurrency regulation, particularly regarding cases like the ongoing Ripple lawsuit.

Crypto News & Trends

In other cryptocurrency news, the Eigen Foundation is investing 1% of its EIGEN tokens in Ethereum Layer 1 Research & Development through the Protocol Guild. This initiative aims to boost engagement and reward stakers and operators within the EigenLayer. Furthermore, the market is anticipating a potential crypto bull run in 2025. Discerning investors are actively seeking tokens poised for significant growth as Bitcoin and altcoins reach new heights.

The combined news highlights the evolving landscape of cryptocurrency regulation, technological advancements, and market trends in the digital asset space.