Iraq Economic News and Points To Ponder Tuesday Morning 7-29-25

Government Program And Economic Policies Revive The Dinar
 
Economic 07/28/2025  Baghdad: Anwar Ayed   In its third year of implementation,  the government program continues to make steady progress toward achieving its economic goals, despite the complex challenges posed by regional and international realities, particularly regarding the  threat of war,fluctuations in energy markets, and volatile global economic cycles.
 
However, national growth indicators remain evident across various infrastructure sectors,
supported by remarkable levels of economic stability, most notably the annual inflation rate remaining below the 3 percent mark.

This indicates the ability of economic policy to absorb shocks and  manage resources relatively efficiently.
 
qualitative transformations 
 
In this context, Dr. Mazhar Mohammed Saleh, the Prime Minister's financial advisor, told Al-Sabah that the parallel currency market has witnessed a qualitative transformation over the past period.
 
Previously, it was governed by "noisy patterns" that generated sudden price fluctuations.
 
Today, it has become more stable and is gradually being driven by the official market. 
 
Saleh attributes this shift to the effective coordination between fiscal, monetary, and trade policies,
     which contributed to the flow of accurate and well-thought-out information signals,
 
enabling the market to shift from a state of volatility and speculation  to a calmer trading environment more in line with the country's economic reality.
 
Integrated procedures 
 
Saleh adds that this positive shift is the result of a series of integrated measures that have contributed to narrowing the gap between the official and parallel dollar rates,  most notably the strict legal ban on dollar use in domestic transactions,  particularly in the real estate market,  which is one of the most sensitive sectors. 

He added,  "The transition to a mechanism for financing foreign trade through global correspondent banks, rather than relying exclusively on the central bank's window, has contributed to reducing compliance risks and decreasing reliance on the informal market."
 
Another factor that has contributed to enhanced market stability, the advisor said,is the entry of small importers into the official dollar financing network,  without the need for money exchange companies.
 
This has facilitated their access to foreign currency at direct official exchange rates,
especially since their trade represents approximately 60 percent of the private sector's foreign trade.
 
Administrative facilities 
 
Dr. Saleh points out that this transformation was achieved through administrative facilitation provided by the government and the reduction of bureaucratic loopholes  that previously hindered import financing and implementation.  

The financial advisor emphasized that the expanding use of electronic payment cards in foreign currency,  particularly among travelers, has been an additional factor in reducing pressure on the cash dollar,     given the availability of cash allocations at the official exchange rate   through banking outlets located throughout airports, and  with flexible and organized compliance mechanisms.

He pointed to the role played by cooperative societies, food baskets, and construction goods,  which are imported in dollars at the official exchange rate of 1,320 dinars,  in supporting the price stability policy.
 
This has enabled the government to use trade as a tool to achieve monetary stability, as part of an integrated strategy for economic policies in implementing the government program.
 
Fluctuations in the US economy
 
In contrast, financial and economic expert Dr. Safwan Qusay pointed out that the Iraqi dinar, despite its relative resilience,  remains vulnerable to the effects of global markets and fluctuations in the US economy. Speaking to Al-Sabah, he pointed out that the new customs restrictions imposed by the US administration on some imports have weakened exports from key countries such as China, Japan, the European Union, and Canada.
 
This has led to a relative decline in the value of the US dollar globally, which opens the way for the Federal Reserve to consider reducing interest rates, which could negatively impact the dollar's attractiveness as a reserve currency.
 
Qusay believes that the Iraqi market is often subsequently affected by these shifts, which may partly explain the recent decline in the dollar's price in the informal market, due to the potential entry of cash dollars into Iraq  via neighboring countries amid these changes.
 
strong bumpers
 
Qusay warns that the continued decline in the value of the dollar could pose future risks to the central bank's reserves, especially with an increasing number of countries  diversifying their reserves away from the US dollar and  resorting to gold or other currencies.

However, Qusay emphasized that  Iraq still possesses strong buffers that protect it from these risks,  most notably its massive dollar reserves at the central bank and its possession of more than 116 tons of gold,  which is also witnessing a rise in value globally. He also points out that current oil prices remain at levels sufficient to ensure the stability of the dinar in the long term. near.
 
Qusay believes that maintaining this stability requires the Central Bank to review its reserve anagement strategies and   ensure they are not affected by dollar fluctuations. He also believes that
 
it is necessary to accelerate steps to diversify the economy and  control revenues and expenditures  to avoid any potential repercussions of the dollar's decline on the value of the Iraqi dinar.     https://alsabaah.iq/118107-.html  

Trump & Crypto: Will Bitcoin's Success Translate To The Iraqi Dinar?
 
19th July 2025 in Investment, Iraq Banking & Finance News  By Guest Blogger. https://www.iraq-businessnews.com/custom-search/?searchtext=%22guest+blogger%22&swcfpc=1
 Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News.
 
Trump's Policies and Cryptocurrency: Will Bitcoin's Success Translate to the Iraqi Dinar?
 
The relationship between political leadership and financial markets has rarely been as pronounced as it is today with cryptocurrency.
 
Since Donald Trump's return to the presidency in January 2025, Bitcoin has experienced remarkable gains, prompting investors to wonder whether this success might extend to other alternative investments like the Iraqi Dinar, where some people expect a significant dinar revaluation.
 
However, the fundamental differences between these assets reveal why Bitcoin's trajectory under Trump's administration is unlikely to be replicated by the Iraqi Dinar.
 
Bitcoin's Meteoric Rise Under Trump's Pro-Crypto Policies 
 
Bitcoin has demonstrated extraordinary performance since Trump's re-election, with the cryptocurrency surging approximately 60% since November 2024 and  reaching heights of $111,000. This dramatic increase can be attributed to several specific policy initiatives and strategic decisions by the Trump administration.
 
The foundation of Bitcoin's success lies in Trump's complete reversal from his previous skeptical stance toward cryptocurrency.
 
During his campaign, Trump promised to make America "the crypto capital of the planet," and his administration has delivered on this promise through concrete legislative and regulatory actions.
 
In March 2025, Trump signed an executive order establishing a Strategic Bitcoin Reserve and   U.S. Digital Asset Stockpile,  signaling the federal government's commitment to cryptocurrency adoption.

The administration's approach has been systematically supportive of the cryptocurrency industry.

Congress recently passed the first major crypto legislation in U.S. history, providing regulatory clarity that has been long sought by the industry.
 
This regulatory framework has reduced uncertainty and encouraged institutional investment,
contributing to Bitcoin's price appreciation.
 
Trump's appointees reflect this pro-crypto stance, with one in five top administration picks holding cryptocurrency assets, some worth millions of dollars.
 
This alignment between policy and personal investment demonstrates the administration's genuine commitment to cryptocurrency adoption rather than mere political rhetoric.
 
The Iraqi Dinar: A Fundamentally Different Asset
 
The Iraqi Dinar operates in an entirely different economic and political ecosystem from Bitcoin.
 
While Bitcoin is a decentralized digital asset that responds to global market forces and regulatory changes, the Iraqi Dinar is a sovereign currency tied to Iraq's economic fundamentals and monetary policy decisions.
 
Current exchange rate data shows the Iraqi Dinar trading  at approximately 1,310 dinars per U.S. dollar as of July 2025, representing minimal fluctuation over the past year.
 
The International Monetary Fund projects an average exchange rate  of 1,300 dinars per dollar   for both 2025 and 2026,indicating expectations of stability rather than dramatic appreciation.
 
The Central Bank of Iraq has successfully transitioned to a new trade finance system managed by commercial banks, which has contributed to exchange rate stability.
 
However, this stability is precisely what differentiates the Dinar from Bitcoin
 
- the Iraqi currency is managed to maintain purchasing power rather than to serve as a speculative investment vehicle.
 

Why Trump's Crypto Policies Won't Impact the Dinar
 
Several fundamental factors explain why Trump's cryptocurrency-friendly policies cannot replicate Bitcoin's success with the Iraqi Dinar:
 
 Regulatory Jurisdiction: Trump's policies directly impact assets under U.S. regulatory authority.

Bitcoin, as a global digital asset traded on U.S. exchanges and held by U.S. institutions, falls within this sphere of influence.
 
The Iraqi Dinar, however, is governed by Iraq's Central Bank and monetary policy, which operates independently of U.S. cryptocurrency regulations.
 
 Asset Classification: Bitcoin is treated as a digital commodity and investment vehicle, making it responsive to regulatory changes that affect investor sentiment and institutional adoption.
 
The Iraqi Dinar functions as a national currency with exchange rates determined by economic fundamentals such as  oil revenues, trade balances, and  monetary policy decisions.

Market Dynamics: Bitcoin's price appreciation stems from increased institutional adoption,
 regulatory clarity, and  speculative investment driven by Trump's supportive policies.
 
The Iraqi Dinar's value is tied to Iraq's  economic performance, oil exports, and  regional stability 
-factors largely unrelated to U.S. cryptocurrency policy.
 
 Investment Infrastructure: The cryptocurrency ecosystem has developed  sophisticated trading platforms,  custody solutions, and  financial products that respond rapidly to policy changes.
 
The Iraqi Dinar lacks this infrastructure for speculative investment, with most transactions occurring through traditional foreign exchange channels focused on trade and remittances rather than investment.
 
Economic Realities and Market Projections
 
Financial forecasts for the Iraqi Dinar suggest continued stability rather than dramatic appreciation.
 
Market projections indicate potential slight depreciation, with the exchange rate possibly reaching around 1,318 IQD per USD by the end of 2025.
 
These projections reflect expectations of gradual economic adjustments rather than the explosive growth seen in Bitcoin.
 
Iraq's economy remains heavily dependent on oil revenues, which are calculated based on the exchange rate of 1,300 dinars to one dollar in the federal budget.
 
This dependency on  commodity prices and the  government's fiscal management creates a fundamentally different value proposition from Bitcoin's technology-driven and adoption-based appreciation.

The Broader Investment Landscape
 
The contrast between Bitcoin and the Iraqi Dinar illustrates a broader principle about how different asset classes respond to political and regulatory changes.
 
Bitcoin's success under Trump's administration demonstrates the  power of regulatory clarity and institutional support for emerging asset classes.
 
The cryptocurrency's  decentralized nature and  global trading infrastructure  make it particularly responsive to positive policy developments.
 
Traditional currencies,even those from developing economies, operate within established monetary systems designed for stability rather than speculation.
 
The Iraqi Dinar's role as a  medium of exchange and store of value for Iraq's economy necessitates careful management to prevent the volatility  that investors seek in alternative assets.
 
Conclusion
 
While Trump's pro-cryptocurrency policies have created a favorable environment for Bitcoin's remarkable performance, these same policies cannot produce similar results for the Iraqi Dinar.
 
The fundamental differences between a decentralized digital asset and a sovereign currency mean that
each responds to entirely different sets of economic and political factors.
 
Bitcoin's success under Trump's administration reflects the  power of regulatory support and institutional adoption in driving speculative asset prices.
 
The Iraqi Dinar's stability reflects the careful monetary management required to maintain a functioning national currency.
 
Investors considering whether Trump's policies might benefit the Iraqi Dinar should recognize that the two assets exist in fundamentally different economic ecosystems, with success metrics that are not only different but often contradictory.
 
The lesson for investors is clear: while political leadership can significantly impact certain asset classes,
the specific characteristics of each investment determine how it responds to policy changes.

Bitcoin's  technological foundation and  speculative nature  ake it responsive to regulatory developments, while the
 
Iraqi Dinar's role as a national currency requires it to prioritize stability over explosive growth.    
  
https://www.iraq-businessnews.com/2025/07/19/trump-crypto-will-bitcoins-success-translate-to-the-iraqi-dinar/     

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com

Seeds of Wisdom RV and Economic Updates Tuesday Morning 7-29-25.

Good Morning Dinar Recaps,

Ripple, Circle, Fidelity Among 6 Crypto Giants Racing for US Bank Charter
Institutional momentum accelerates as crypto firms pursue national regulatory alignment under a newly permissive OCC framework.

Federal Greenlight Incoming: 6 Crypto Banks Await OCC Approval

A major shift in federal crypto regulation is underway as six digital asset firms have applied for national bank charters with the Office of the Comptroller of the Currency (OCC)—a move that would allow them to operate across the U.S. under a single regulatory umbrella.

The pending license applications, publicly listed on the OCC’s site, mark a sharp rise in institutional interest in offering crypto services within the framework of federally chartered banking. The submissions reflect growing industry alignment with national financial infrastructure as digital assets seek full-scale integration into the U.S. financial system.

The Applicants: Crypto and TradFi Heavyweights

The firms seeking a national charter include some of the most prominent names in digital assets and traditional finance:

• Bitgo Bank & Trust, National Association – Application submitted July 14

• Ripple National Trust Bank – Filed July 2

• First National Digital Currency Bank, N.A. – Filed June 30 by Circle Internet Group

• Erebor Bank, N.A. – Filed June 12

• Fidelity Digital Assets, N.A. – Filed June 11

• National Digital Trust Co. – Filed May 28

These proposed banks are structured as national trust banks, a charter that enables them to custody digital assets, issue stablecoins, and interact with public blockchains—all within a regulated environment that permits operations in all 50 states.

OCC Signals Regulatory Shift: Interpretive Letter 1183

The regulatory landscape dramatically changed in March 2025 with the OCC’s release of Interpretive Letter 1183, which eliminated the requirement for “supervisory non-objection” for national banks engaging in digital asset activities such as:

• Custodying crypto assets

• Managing stablecoin reserves

• Running blockchain nodes

This reversal of earlier guidance now formally permits federally chartered institutions to offer crypto-related services without prior case-by-case approval.

In an official statement issued in May, the OCC declared:

“The federal banking system is well positioned to engage in digital asset activities.”

A Turn Away from Caution: OCC Withdraws from Fed/FDIC Crypto Warnings

In another critical development, the OCC has withdrawn its endorsement of prior joint statements with the Federal Reserve and FDIC, which had urged caution on crypto risks and discouraged use of public blockchains.

By stepping back from these earlier risk bulletins, the OCC is positioning itself to encourage responsible innovation, reduce regulatory friction, and standardize oversight across the federal banking system.

Implications: A Unified Path for Crypto Banking

If approved, these charters would allow Ripple, Circle, Fidelity, and others to operate nationally regulated crypto banks, providing services once siloed by state-by-state licensing frameworks.

This convergence of crypto and traditional banking signals a new era of legitimacy, where federally licensed crypto institutions may soon stand alongside legacy banks, backed by OCC oversight, and free to scale nationwide.

@ Newshounds News™
Source: Bitcoin.com

~~~~~~~~~

Rakbank and Bitpanda Launch UAE’s First Bank-Backed Crypto Trading Platform for Retail Customers
Strategic partnership signals UAE's accelerating push into regulated digital finance, bridging banking and blockchain through mobile-accessible crypto services.

Historic Milestone: Rakbank Becomes First Traditional UAE Bank to Offer Crypto Trading

The National Bank of Ras Al Khaimah (Rakbank) has officially become the first conventional bank in the United Arab Emirates to launch crypto trading for retail clients, in partnership with Bitpanda, a regulated Austrian digital asset infrastructure provider.

Through its mobile banking app, Rakbank now enables customers to buy, sell, and swap cryptocurrencies directly from their dirham-denominated current or savings accounts, eliminating the need for foreign exchange conversions or transfers to external crypto platforms.

This development marks a significant advancement in the UAE’s drive to become a global hub for digital finance, offering fully regulated, bank-backed crypto access for everyday investors.

How It Works: Seamless, AED-Denominated Crypto Brokerage

The crypto service is powered by Bitpanda Broker MENA DMCC, a Dubai-based entity licensed by the Virtual Assets Regulatory Authority (VARA). Bitpanda’s infrastructure enables:

• Real-time crypto trading in AED (United Arab Emirates dirham)

• No foreign exchange or remittance fees

• Custody and execution under regulatory compliance

• Mobile app integration for direct access from Rakbank accounts

By leveraging Bitpanda’s secure backend, Rakbank has removed the complexity traditionally associated with accessing crypto markets, offering a streamlined and compliant digital asset experience.

“We are proud to be the first conventional bank in the UAE to enable simple, secure, and regulated access to a world-class digital assets platform,” — Raheel Ahmed, Group CEO, Rakbank

Strategic Vision: UAE as a Blockchain and Crypto Hub

The new offering is currently available by invitation only, with a phased public rollout planned in the coming months.

Rakbank’s initiative follows its 2023 partnership with Bitpanda to co-develop a broader digital asset management platform, underscoring the bank’s belief that digital assets represent the future of finance.

“This partnership is a big moment for digital assets in the region,” — Lukas Enzersdorfer-Konrad, Deputy CEO, Bitpanda

Bitpanda, already working with Deutsche Bank, Raiffeisen Bank, and N26 in Europe, brings global institutional experience to the UAE’s crypto ecosystem.

Regulatory Tailwinds: UAE's Pro-Crypto Posture Strengthens

Rakbank’s crypto launch coincides with broader moves by UAE authorities to establish the region as a blockchain innovation leader:

• Over 600 crypto companies have registered in the Dubai Multi Commodities Centre free zone.

• The Dubai International Financial Centre (DIFC) and One Central are attracting global digital finance players.

• In June, the Dubai Financial Services Authority (DFSA) approved Ripple’s RLUSD stablecoin, reinforcing confidence in the jurisdiction's regulatory framework.

Conclusion: A Bank-Led Bridge Between Traditional Finance and Digital Assets

With this move, Rakbank sets a precedent for mainstream crypto adoption via conventional banking, offering UAE residents secure, regulated, and user-friendly access to digital assets—all in local currency and through existing banking relationships.

The Rakbank–Bitpanda collaboration is more than a feature update; it represents a transformative step toward the institutionalization of crypto in the Middle East—where banking and blockchain are no longer siloed, but seamlessly integrated.

@ Newshounds News™

Sources:

• Cointelegraph

• Bitcoin.com

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's News Telegram Room Link

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Thank you Dinar Recaps

Iraq Economic News and Points To Ponder Monday Evening 7-28-25

Economist: 10 Reasons Behind The Decline In The Dollar Exchange Rate Against The Iraqi Dinar

Monday, July 28, 2025 14:38 | Economic Number of reads: 217  Baghdad / NINA / Economic expert, Manar Al-Obaidi, confirmed on Monday that the continuous decline in the dollar exchange rate against the Iraqi dinar is due to ten main reasons, noting that these factors are intertwined, and their varying impact has collectively contributed to strengthening the dinar in the parallel market.

Al-Obaidi explained in a post on his official Facebook page that the most prominent of these reasons are the state of "economic contraction and declining consumer confidence," the suspension of government investment expenditures, and the tightening of control over border crossings, in addition to traders' shift to official banking platforms, the decline in re-export operations, and the settlement of some foreign companies' dues in petroleum products instead of cash.

He pointed out that "preparations for the electoral process played a role in increasing the supply of the dollar after political blocs resorted to converting their cash reserves into dinars to finance their campaigns, while the increase in the number of foreign arrivals and the cessation of illegal trade with Syria contributed to increasing the availability of the dollar in the markets."

Al-Obaidi pointed out that: “The Central Bank’s withdrawal of a portion of the monetary supply in dinars created additional demand for the local currency, which led to a gradual decline in the dollar,” stressing that: “The arrangement of these reasons reflects the extent of each of their impact on the parallel market, without denying the existence of other undisclosed factors that may contribute to this decline.” /End   https://ninanews.com/Website/News/Details?key=1243368

The Dollar Exchange Rate In Baghdad And Erbil Remains Stable.

Stock Exchange  The dollar exchange rate stabilized against the Iraqi dinar on Monday afternoon in the markets of Baghdad and Erbil, coinciding with the closing of the stock exchange.

The dollar exchange rate stabilized at the close of trading on the Al-Kifah and Al-Harithiya stock exchanges, recording 139,200 dinars per $100, the same rate as this morning.

As for the selling prices at exchange offices in Baghdad's local markets, they remained stable, with the selling price reaching 140,250 dinars for $100, while the buying price reached 138,250 dinars for $100.

In Erbil, the dollar also remained stable, with the selling price reaching 138,975 dinars per $100 and the buying price reaching 138,950 dinars per $100. https://economy-news.net/content.php?id=58015

An Economic Expert Told NINA: Terminating The Iraq-Turkey Oil Pipeline Contract Poses Major Economic Challenges To Iraq.

Monday, July 28, 2025, 15:40 | Economic Number of reads: 242  Baghdad / NINA / Economic expert Raad Twaij considered the termination of the Iraq-Turkey oil pipeline contract a negative step for the Iraqi side, stressing the need for Iraq to be prepared to develop alternative routes to Turkey, at a lower cost.

Twaij said in a statement to the National Iraqi News Agency ( NINA ): "The suspension of the pipeline transporting Iraqi oil through Turkish territory next year may coincide with new developments or new obligations that may be presented in any new agreement."

He explained that the Turkish strategic perspective is based on the fact that Turkey is a profitable country, and that the comparative advantage in exporting oil is for both Iraq and Turkey.

Therefore, Turkey is trying to obtain the maximum benefit from this pipeline by imposing higher tariffs for the arrival of oil to the Turkish port of Ceyhan, thus turning a historical page on this pipeline, which was marred by some obstacles in Kirkuk's production or the use of the pipeline by other parties, which Turkey considers an "unfavorable tariff."

The economic expert stressed that the Iraqi negotiator must prepare early for this issue and attempt to obtain a favorable transportation cost from the other side, which proposed increasing the fee per barrel to $2.50.

He also stressed the need to work on transporting as much as possible through the pipeline to reduce the cost of transporting each barrel, and to use an accompanying pipeline to transport gas from northern Iraq and export it to Europe via Turkey.

He also emphasized the need to take advantage of the new Turkish proposal to benefit from Turkish investment and propose a partnership in the field of petrochemicals and hydrocarbon production, linking it to the development path within the framework of a comprehensive agreement.

Ankara announced last week the termination of the oil pipeline agreements with Iraq, effective July 2026.

The decision, issued by presidential decree and published in the Turkish Official Gazette, could mark the beginning of a new phase in the Kirkuk-Ceyhan pipeline, which for years has served as a vital artery for Iraqi oil exports to the Mediterranean.

This announcement raises major questions about its political and economic repercussions and poses serious challenges to Iraq in its search for strategic alternatives.

The Kirkuk-Ceyhan pipeline is one of Iraq's main oil export routes, transporting crude oil from oil fields in northern Iraq, particularly in the Kurdistan Region and Kirkuk, to the Turkish port of Ceyhan on the Mediterranean.

The original agreement between Iraq and Turkey was signed on August 27, 1973, and the pipeline became operational in 1977. Its goal was to enable Iraq to export its oil to global markets via the Mediterranean, bypassing the Strait of Hormuz. https://ninanews.com/Website/News/Details?key=1243380

Iraqi Oil Maintains Gains At The Start Of Weekly Trading.

energy  Economy News – Baghdad  Iraqi oil prices remained remarkably stable during the opening of trading on Monday on the global market, exceeding $70 per barrel at the start of trading.

According to the data, Basra Medium crude reached $70.48 per barrel, while heavy crude reached $67.43 per barrel, with both prices changing by +0.57%.

The data also showed a decline in global oil prices, with British Brent crude reaching $68.85 per barrel, while US West Texas Intermediate crude reached $65.51 per barrel, both down +0.41%. https://economy-news.net/content.php?id=57986

For current and reliable Iraqi news please visit:  https://www.bondladyscorner.com

Seeds of Wisdom RV and Economic Updates Tuesday Morning 7-29-25

Good Morning Dinar Recaps,

Ripple, Circle, Fidelity Among 6 Crypto Giants Racing for US Bank Charter
Institutional momentum accelerates as crypto firms pursue national regulatory alignment under a newly permissive OCC framework.

Federal Greenlight Incoming: 6 Crypto Banks Await OCC Approval

A major shift in federal crypto regulation is underway as six digital asset firms have applied for national bank charters with the Office of the Comptroller of the Currency (OCC)—a move that would allow them to operate across the U.S. under a single regulatory umbrella.

The pending license applications, publicly listed on the OCC’s site, mark a sharp rise in institutional interest in offering crypto services within the framework of federally chartered banking. The submissions reflect growing industry alignment with national financial infrastructure as digital assets seek full-scale integration into the U.S. financial system.

The Applicants: Crypto and TradFi Heavyweights

The firms seeking a national charter include some of the most prominent names in digital assets and traditional finance:

• Bitgo Bank & Trust, National Association – Application submitted July 14

• Ripple National Trust Bank – Filed July 2

• First National Digital Currency Bank, N.A. – Filed June 30 by Circle Internet Group

• Erebor Bank, N.A. – Filed June 12

• Fidelity Digital Assets, N.A. – Filed June 11

• National Digital Trust Co. – Filed May 28

These proposed banks are structured as national trust banks, a charter that enables them to custody digital assets, issue stablecoins, and interact with public blockchains—all within a regulated environment that permits operations in all 50 states.

OCC Signals Regulatory Shift: Interpretive Letter 1183

The regulatory landscape dramatically changed in March 2025 with the OCC’s release of Interpretive Letter 1183, which eliminated the requirement for “supervisory non-objection” for national banks engaging in digital asset activities such as:

• Custodying crypto assets

• Managing stablecoin reserves

• Running blockchain nodes

This reversal of earlier guidance now formally permits federally chartered institutions to offer crypto-related services without prior case-by-case approval.

In an official statement issued in May, the OCC declared:

“The federal banking system is well positioned to engage in digital asset activities.”

A Turn Away from Caution: OCC Withdraws from Fed/FDIC Crypto Warnings

In another critical development, the OCC has withdrawn its endorsement of prior joint statements with the Federal Reserve and FDIC, which had urged caution on crypto risks and discouraged use of public blockchains.

By stepping back from these earlier risk bulletins, the OCC is positioning itself to encourage responsible innovation, reduce regulatory friction, and standardize oversight across the federal banking system.

Implications: A Unified Path for Crypto Banking

If approved, these charters would allow Ripple, Circle, Fidelity, and others to operate nationally regulated crypto banks, providing services once siloed by state-by-state licensing frameworks.

This convergence of crypto and traditional banking signals a new era of legitimacy, where federally licensed crypto institutions may soon stand alongside legacy banks, backed by OCC oversight, and free to scale nationwide.

@ Newshounds News™
Source: Bitcoin.com

~~~~~~~~~

Rakbank and Bitpanda Launch UAE’s First Bank-Backed Crypto Trading Platform for Retail Customers
Strategic partnership signals UAE's accelerating push into regulated digital finance, bridging banking and blockchain through mobile-accessible crypto services.

Historic Milestone: Rakbank Becomes First Traditional UAE Bank to Offer Crypto Trading

The National Bank of Ras Al Khaimah (Rakbank) has officially become the first conventional bank in the United Arab Emirates to launch crypto trading for retail clients, in partnership with Bitpanda, a regulated Austrian digital asset infrastructure provider.

Through its mobile banking app, Rakbank now enables customers to buy, sell, and swap cryptocurrencies directly from their dirham-denominated current or savings accounts, eliminating the need for foreign exchange conversions or transfers to external crypto platforms.

This development marks a significant advancement in the UAE’s drive to become a global hub for digital finance, offering fully regulated, bank-backed crypto access for everyday investors.

How It Works: Seamless, AED-Denominated Crypto Brokerage

The crypto service is powered by Bitpanda Broker MENA DMCC, a Dubai-based entity licensed by the Virtual Assets Regulatory Authority (VARA). Bitpanda’s infrastructure enables:

• Real-time crypto trading in AED (United Arab Emirates dirham)

• No foreign exchange or remittance fees

• Custody and execution under regulatory compliance

• Mobile app integration for direct access from Rakbank accounts

By leveraging Bitpanda’s secure backend, Rakbank has removed the complexity traditionally associated with accessing crypto markets, offering a streamlined and compliant digital asset experience.

“We are proud to be the first conventional bank in the UAE to enable simple, secure, and regulated access to a world-class digital assets platform,” — Raheel Ahmed, Group CEO, Rakbank

Strategic Vision: UAE as a Blockchain and Crypto Hub

The new offering is currently available by invitation only, with a phased public rollout planned in the coming months.

Rakbank’s initiative follows its 2023 partnership with Bitpanda to co-develop a broader digital asset management platform, underscoring the bank’s belief that digital assets represent the future of finance.

“This partnership is a big moment for digital assets in the region,” — Lukas Enzersdorfer-Konrad, Deputy CEO, Bitpanda

Bitpanda, already working with Deutsche Bank, Raiffeisen Bank, and N26 in Europe, brings global institutional experience to the UAE’s crypto ecosystem.

Regulatory Tailwinds: UAE's Pro-Crypto Posture Strengthens

Rakbank’s crypto launch coincides with broader moves by UAE authorities to establish the region as a blockchain innovation leader:

• Over 600 crypto companies have registered in the Dubai Multi Commodities Centre free zone.

• The Dubai International Financial Centre (DIFC) and One Central are attracting global digital finance players.

• In June, the Dubai Financial Services Authority (DFSA) approved Ripple’s RLUSD stablecoin, reinforcing confidence in the jurisdiction's regulatory framework.

Conclusion: A Bank-Led Bridge Between Traditional Finance and Digital Assets

With this move, Rakbank sets a precedent for mainstream crypto adoption via conventional banking, offering UAE residents secure, regulated, and user-friendly access to digital assets—all in local currency and through existing banking relationships.

The Rakbank–Bitpanda collaboration is more than a feature update; it represents a transformative step toward the institutionalization of crypto in the Middle East—where banking and blockchain are no longer siloed, but seamlessly integrated.

@ Newshounds News™

Sources:

• Cointelegraph

• Bitcoin.com

~~~~~~~~~

Seeds of Wisdom Team RV Currency Facts Youtube and Rumble

Newshound's News Telegram Room Link

Follow the Roadmap

Follow the Timeline 

Seeds of Wisdom Team™ Website

Thank you Dinar Recaps