Bank of Israel Governor Amir Yaron signaled that the country is preparing for far more active oversight of stablecoins, CoinDesk.com reported. Speaking at the Bank of Israel’s Payments in the Evolving Era conference in Tel Aviv, Yaron framed private digital dollars as a payments force that regulators can no longer treat as peripheral. Yaron stressed that stablecoins have already become deeply embedded in global money flows, noting a market capitalization above $300 billion and more than $2 trillion in monthly transaction volume.
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The families of 300 U.S. citizens hurt or killed in the Oct. 7 attack on Israel sued Binance, claiming the cryptocurrency exchange aided Hamas and other terrorist groups by transferring more than $1 billion among accounts they controlled, the New York Times reported. The lawsuit, filed in federal court in North Dakota on Monday, comes about a month after President Trump pardoned Changpeng Zhao, Binance’s founder, who was convicted of money laundering in 2023.
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Voluntary Liquidation of LLCs in the UAE: Treatment of Insufficient Assets and Shareholder Liability
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The European Union plans to propose a partial suspension of the bloc’s trade agreement with Israel as pressure piles on the institution to take a harder line on Gaza, the Wall Street Journal reported. “We will propose sanctions on the extremist ministers and on violent settlers, and we will also propose a partial suspension of the association agreement on trade-related matters,” EU President Ursula von der Leyen said, addressing the crisis in Gaza that has divided European states.
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Syria will issue new banknotes, removing two zeros from its currency in an attempt to restore public confidence in the severely devalued pound, Reuters reported. The step is intended to strengthen the Syrian pound after its purchasing power collapsed to record lows following a 14-year conflict that ended with President Bashar al-Assad's ouster in December. The Syrian pound has lost more than 99% of its value since war erupted in 2011, with the exchange rate now at around 10,000 pounds to the U.S. dollar, compared to 50 before the war.
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The newly established Bankruptcy Court marks a pivotal shift toward faster, more transparent resolution of financial distress cases, according to legal and economic experts, the Khaleej Times reported. Established by the Ministry of Justice and headquartered at the Abu Dhabi Federal Court of First Instance, the Bankruptcy Court will streamline complex procedures and reduce delays, according to Asma Siddiqui, a senior associate at BSA LAW.
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Morocco's central bank was exploring the use of its own digital currency for peer-to-peer and cross border payments, bank governor Abdellatif Jouahri said on Monday, Reuters reported. A central bank digital currency (CBDC) is controlled by the central bank, in contrast to cryptocurrencies that are usually decentralised. Cryptocurrencies have been banned in Morocco since 2017, but the public continues to use them underground, circumventing restrictions.
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