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Circle gets Abu Dhabi regulatory nod to expand in Middle East

USDC stablecoin issuer Circle has received in-principle approval (IPA) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM), the company announced on April 29.

The approval moves Circle closer to obtaining a full Financial Services Permission (FSP) license, allowing it to operate as a regulated money services provider in the United Arab Emirates, the firm said in an official press release.

Jeremy Allaire, Circle’s Co-Founder and CEO, said the approval “advances our strategy to establish deep roots in markets embracing the onchain economy.” He added:

“It also underscores Circle’s enduring commitment to global stablecoin oversight—strengthening trust, compliance, and adoption worldwide, while laying a resilient foundation for the internet financial system.”

Circle gets Abu Dhabi regulatory nod to expand in Middle East
Comments from Circle CEO and Chief of Market Development at ADGM regarding the regulatory nod. Source: PR

Related: Circle files for Initial Public Offering planned for April

Circle partners with Hub71

In addition to regulatory progress, Circle announced a partnership with Hub71, Abu Dhabi’s tech ecosystem. As part of the collaboration, the two firms plan to work together on projects within ADGM’s digital regulatory sandbox.

Circle will also join Hub71’s digital assets group, sharing its experience with a community of more than 500 tech startups and investors.

Circle’s flagship USDC token is the second-largest stablecoin in terms of market capitalization. As of now, there are $62.03 billion USDC (USDC) tokens in circulation, according to data from CoinMarketCap.

Meanwhile, Circle has been pushing into new global markets amid rising interest in stablecoins.

In July 2024, Circle became the first global stablecoin issuer to comply with the European Union’s Markets in Crypto-Assets (MiCA) regulation.

In Japan, Circle expanded its presence through a partnership with SBI Holdings. On March 26, 2025, SBI VC Trade, a subsidiary of SBI Holdings, launched USDC trading, making it the first stablecoin approved under Japan’s regulatory framework.

Related: Circle executive denies claims of seeking US banking license

UAE aims to position itself a major Web3 hub

The United Arab Emirates has been actively working to establish itself as a global Web3 hub, leveraging progressive regulation and strategic partnerships to attract leading digital asset firms.

In August 2024, the country ranked third in a crypto adoption index released by Henley & Partners, an investment migration consultancy firm.

On April 6, Dubai’s real estate and crypto regulatory authorities signed a new agreement aimed at expanding digital asset adoption in the real estate sector. The agreement will link Dubai’s real estate registry with property tokenization through a governance system. 

Magazine: Bitcoin price consolidation likely as US Core PCE, manufacturing, and jobs reports print this week

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Palestine Action ban must be explained, Labour peer tells Starmer

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Palestine Action ban must be explained, Labour peer tells Starmer

Ministers must do “much more” to explain why Palestine Action is a proscribed terrorist group, Harriet Harman has said.

Speaking to the Sky News Electoral Dysfunction podcast, the Labour peer said the government looked like it was just “arresting octogenarian vicars who are worried about the awful situation in Gaza”.

Baroness Harman, who was a Labour MP from 1982 to 2024, said the government had a “number of incredibly important duties” with regard to the war in Gaza – including protecting the Jewish community while also permitting free speech.

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She said that as well as ensuring the safety of Jewish venues, such as schools and synagogues, the government also needed to “try and create an atmosphere where the Jewish people should not feel that they are under threat and be asking themselves whether this is the right country for them to live in and be bringing up their families”.

Baroness Harman went on: “They also have to support and uphold the right to free speech and the right of protest. And people have felt so horrified.

“We all have about the devastating loss of life and suffering in Gaza. And so it’s right that people are allowed to protest.”

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A number of protests in support of Palestine Action have been organised in recent months following the group’s proscription under anti-terrorism laws in July, after members targeted RAF Brize Norton and damaged two military aircraft.

Protests against the British government's ban on Palestine Action
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Protests against the British government’s ban on Palestine Action

Last week, there were calls for the demonstrations to be halted following the attack on Heaton Park Synagogue in Manchester, in which two people were killed – but a number took place across the country, including in London.

The Labour peer said the organisers of such protests had a responsibility not to allow people to support a “terrorist organisation” but that the government also needed to do “much, more more” to explain why Palestine Action had been proscribed.

Read more:
What does Trump’s Gaza peace plan look like?
Trump’s Gaza deal may not please everyone – but it offers hope

“At the moment, it just looks like the police are arresting octogenarian vicars who are worried about the awful situation in Gaza,” Baroness Harman said.

“So they’ve got to actually be much clearer in why Palestine Action is a terrorist group and that they’re justified in prescribing them and making them illegal.

“But also the police have got to police those marches in stopping them being about the spouting of hatred and inciting violence, with people talking about globalising the intifada, which basically means killing all Jewish people.

“And the police do actually have very wide-ranging powers, not just to arrest people, but to actually ban marches.

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Telegram’s Durov: We’re ‘running out of time to save the free internet’

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Telegram’s Durov: We’re ‘running out of time to save the free internet’

Telegram’s Durov: We’re ‘running out of time to save the free internet’

EU lawmakers have sought to introduce Chat Control, while the UK and Australia are on track for digital ID systems. Pavel Durov warns that these “dystopian” measures must be stopped.

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‘The time is now to stop Reform’ – Plaid Cymru calls on Labour voters to unite behind Welsh nationalists

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'The time is now to stop Reform' - Plaid Cymru calls on Labour voters to unite behind Welsh nationalists

One party has held court over Welsh politics for more than a century.

Welsh Labour MPs have been the largest group sent to Westminster in every general election since 1922 – and the party has been in government in the country for more than a quarter of a century.

But if the polls are accurate, Labour’s long-standing grip on politics in Wales is fading.

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Plaid Cymru and Reform UK are running almost neck and neck, while Labour trails significantly. A recent YouGov poll put Plaid Cymru on 30%, Reform UK on 29% and Labour at 14%.

Plaid Cymru, heading into its conference this weekend, can sense the mood for change in Wales – and intends to show it is ready for government.

Polling last month put Plaid Cymru and Reform UK almost neck and neck in Wales, with just one point between them - while Labour trails
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Polling last month put Plaid Cymru and Reform UK almost neck and neck in Wales, with just one point between them – while Labour trails

The party hopes to capitalise on disillusioned Labour voters feeling let down by their party under Sir Keir Starmer, and use this to tackle the rise of Reform – which is key to getting it into power.

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In his leader’s speech, Rhun ap Iorwerth is expected to position Plaid Cymru as Wales’s progressive force, and the only party capable of taking on Reform.

He will say: “We’re not here to act as Labour’s conscience. We are not here to repair Labour. We are here to replace them.

“If you’ve never voted for Plaid Cymru before, the time is now.

“The time is now to stop Reform and elect a government more radical, more ambitious, more impatient to bring about positive change than any which has gone before it. A government of progress and of progressive values.”

One in five Labour voters in Wales intend to back Plaid Cymru at the Senedd elections in 2026, according to YouGov. But almost a quarter of Labour voters remain undecided on who to endorse.

The topic of independence will no doubt be a contentious issue for voters who are angry about decisions made by Labour in Wales and Westminster, but do not want an independent Wales.

Plaid Cymru supporters outside the Senedd on 8 October
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Plaid Cymru supporters outside the Senedd on 8 October

Mr ap Iorwerth has ruled out an independence referendum if Plaid Cymru wins next year’s elections, signalling that he doesn’t want the campaign to centre on independence.

Throughout the conference, Plaid Cymru will position itself as ready to govern. But voters will expect clear plans for the NHS, education, and the economy. The question for the party, both during this conference and over the coming months, will be whether its proposals can win over Labour voters in its quest to beat Reform.

But Plaid Cymru’s challenge to Nigel Farage’s party faces a critical test sooner than May. Instead, its next battle will be in the Caerphilly Senedd by-election on 23 October.

Historically a Labour stronghold at both Senedd and Westminster levels, Caerphilly has consistently returned Labour representatives, with Plaid Cymru as the main opposition at Senedd elections.

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Farage’s coal pledge in Wales explained

However, this election introduces a new dynamic, as Reform has emerged as a credible challenger, poised to disrupt the traditional two-party contest.

Coming second at this election won’t be a total loss for Plaid Cymru.

If it can come second at the by-election, it will prove the point Mr ap Iorwerth will be making at the conference in Swansea: that his party is the only credible anti-Reform vote.

The full list of candidates standing at the Caerphilly by-election:

  • Labour – Richard Tunnicliffe

  • Plaid Cymru – Lindsay Whittle

  • Reform UK – Llŷr Powell

  • Conservative – Gareth Potter

  • Green Party – Gareth Hughes

  • Gwlad – Anthony Cook

  • UKIP – Roger Quilliam

  • Liberal Democrats – Steve Aicheler

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