Neosurf Appoints Laura Moore as Chief Strategy & Operations Officer – Focus on Global Expansion and Operational Integration

Key Takeaways

Laura Moore Joins Neosurf’s Senior Leadership Team

Neosurf has announced the appointment of Laura Moore as Chief Strategy & Operations Officer. She joins the company’s senior leadership team following a period in which she supported the business as an expert consultant.

In her new role, Moore becomes responsible for shaping Neosurf’s corporate strategy and supporting its next phase of growth. The company states that her mandate includes driving market expansion, identifying future mergers and acquisitions opportunities, and establishing strategic partnerships intended to strengthen its position in the cash to digital payments sector.

Her appointment formalizes an advisory relationship and places her at the center of strategic and operational decision making. According to Neosurf, this step reflects an effort to align long term planning with day to day operational execution.

Operational Oversight Across Global Teams

As Chief Strategy & Operations Officer, Moore will oversee Neosurf’s global operations teams. Her responsibilities include ensuring the delivery of secure and compliant payment services for millions of users worldwide.

The company specifies that her remit extends across core operational functions. These include global settlements, treasury operations, risk management, and regulatory adherence. In addition, she is tasked with re engineering a number of the company’s core business processes.

By consolidating oversight of these areas under one executive role, Neosurf links its strategic objectives with operational control functions. For users and partners, this structure directly relates to how payment services are processed, monitored, and aligned with regulatory requirements.

Focus on Strategy, M&A, and Partnerships

Beyond operational leadership, Moore will spearhead corporate strategy. This includes evaluating expansion opportunities and identifying potential mergers and acquisitions.

The company also states that she will be responsible for forging key strategic partnerships. Such partnerships are intended to support Neosurf as it enters what it describes as the next phase of its growth.

For businesses operating in online payments and digital services, structured partnerships and acquisition strategies can influence product availability, geographic reach, and integration capabilities. Within Neosurf’s framework, these initiatives are positioned as central components of its development plan.

Professional Background in Consumer Tech and Platform Development

Neosurf highlights Moore’s previous experience in consumer technology, platform development, and senior management roles. She has worked for several high profile B2B and B2C companies, including Vodafone and Sky.

This background is cited as a foundation for her dual focus on strategic vision and hands on operational management. According to the company, her experience will support efforts to unify operations and promote continuous improvement across business functions.

In addition to her corporate roles, Moore co founded LIFT as we Climb, an organization dedicated to advancing and celebrating women in technology. Neosurf identifies her as a thought leader in the technology space and notes that her perspective will contribute to its development in the cash to digital payments industry.

Statements from Company Leadership

Laura Moore stated that she is taking on the role at what she described as a key moment in the group’s evolution. She identified her priorities as driving sustainable growth, ensuring operational excellence, and building scalable frameworks necessary for future expansion.

Andrea McGeachin, Global CEO of Neosurf, commented that Moore’s experience as a global strategist and advocate for women in technology positions her to make a significant impact. McGeachin also emphasized the company’s expectations that Moore’s leadership will support its continued growth.

These statements align with the formal scope of the role, which combines strategic direction with operational management.

Implications for Neosurf’s Payment Operations

Neosurf describes itself as a cash to digital payments company with responsible gaming at its core. The Chief Strategy & Operations Officer role therefore sits at the intersection of payment processing, compliance oversight, and long term expansion planning.

By assigning responsibility for settlements, treasury, risk management, and regulatory adherence to a single executive, the company consolidates functions that are central to payment service reliability and compliance standards. For users and business partners, these areas affect transaction security, operational stability, and adherence to regulatory frameworks.

Moore’s mandate to re engineer core processes indicates a review and potential restructuring of existing operational workflows. The company frames this as creating a foundation that supports its long term vision.

Our Assessment

Neosurf’s appointment of Laura Moore as Chief Strategy & Operations Officer centralizes strategic planning and operational control within one executive position. Her responsibilities cover corporate strategy, market expansion, mergers and acquisitions, partnerships, and oversight of key operational functions including settlements, treasury, risk management, and regulatory adherence. The move formalizes her previous advisory role and positions her as a core decision maker as the company advances its global operations and growth plans.

US Court Dismisses Terrorism Lawsuit Against Binance – Judge Finds No Plausible Link to Specific Attacks

Key Takeaways

US District Court Dismisses Claims Under Anti-Terrorism Laws

A judge at the US District Court for the Southern District of New York has dismissed a lawsuit that accused Binance, its former CEO Changpeng Zhao, and Binance.US operator BAM Trading Services of assisting terrorist organizations through cryptocurrency transactions.

The case was brought by hundreds of victims and relatives of victims of terrorist attacks. According to the court filing, the plaintiffs represented 535 individuals connected to 64 attacks that occurred between 2016 and 2024. The attacks were attributed to groups including Hezbollah, Hamas, ISIS, al-Qaeda and Palestinian Islamic Jihad.

The plaintiffs sought damages under the US Anti-Terrorism Act and the Justice Against Sponsors of Terrorism Act. These laws allow victims to pursue claims against entities alleged to have provided assistance to terrorist acts.

Judge Jeannette A. Vargas dismissed the case at the pleading stage. In her ruling, she found that the complaint did not sufficiently establish a connection between Binance’s operations and the specific attacks that caused the plaintiffs’ injuries. While the filing described alleged compliance failures and illicit activity on the platform, the court concluded that it did not plausibly link the exchange’s conduct to the terrorist incidents in question.

The judge stated that any amended complaint must be filed within 60 days.

Plaintiffs Alleged Exchange Facilitated Fund Transfers

The lawsuit argued that attackers or affiliated organizations benefited from cryptocurrency transactions conducted through Binance. According to the complaint, terrorist groups were able to move funds using the exchange’s infrastructure.

However, the court determined that the allegations, as presented, did not meet the legal threshold required to proceed. The decision effectively ends the case in its current form, unless the plaintiffs submit a revised complaint within the timeframe set by the court.

For users of centralized exchanges, the ruling highlights the legal standards required to hold platforms liable under US anti-terrorism legislation. Courts require a direct and plausible link between an exchange’s conduct and specific acts of terrorism, rather than general allegations of illicit activity on a platform.

Changpeng Zhao Responds to Court Decision

Following the dismissal, Changpeng Zhao commented publicly on the case. In a post on X, he stated that centralized crypto exchanges have “zero motive” to assist terrorist organizations.

Zhao argued that the economic structure of crypto trading makes such activity commercially illogical for exchanges. He wrote that terrorist actors are unlikely to generate meaningful trading revenue and would typically deposit funds only briefly before withdrawing them.

His comments addressed the broader question of incentives for centralized exchanges, which generate revenue primarily from trading activity. Zhao’s statement did not introduce new evidence but framed the issue in terms of business incentives.

Ongoing Scrutiny Over Sanctions Compliance

The court ruling comes as Binance faces additional scrutiny in the United States related to transactions involving sanctioned entities.

A group of 11 US senators recently raised allegations that the exchange facilitated transactions linked to Iranian entities. According to media reports referenced in the inquiry, Binance allegedly processed more than $1 billion in cryptocurrency transactions connected to Iranian entities Hexa Whale and Blessed Trust. The reports also claimed that employees who raised concerns internally were dismissed.

In a letter sent to Senators Richard Blumenthal and Ron Johnson, Binance rejected the allegations. The company stated that the February inquiry relied on reports that were “demonstrably false” and lacked credible evidence.

These developments illustrate the regulatory and political scrutiny that large crypto exchanges continue to face in the United States, particularly in relation to anti-terrorism financing rules and sanctions enforcement.

Implications for Crypto Platforms and Users

The dismissal of the lawsuit clarifies that, in this instance, the court did not find sufficient grounds to hold Binance liable under US anti-terrorism statutes based on the claims presented.

For crypto users, including those who use digital assets for trading or payments on online platforms, the case underscores the legal complexity surrounding centralized exchanges. Allegations of illicit finance can lead to significant legal proceedings, even when a case does not proceed beyond the initial stage.

For exchanges operating internationally, the ruling demonstrates the importance of compliance frameworks and the evidentiary standards required in US federal courts when claims relate to terrorist financing.

Our Assessment

The US District Court’s decision dismisses the terrorism-related claims against Binance, Changpeng Zhao and Binance.US at the pleading stage due to insufficient linkage between the platform’s operations and specific attacks. Plaintiffs have 60 days to amend their complaint. At the same time, Binance continues to face separate scrutiny from US lawmakers regarding alleged transactions involving sanctioned Iranian entities, which the company denies. Together, these developments reflect ongoing legal and regulatory examination of large centralized crypto exchanges in the United States.

USDC Surpasses Tether in Monthly Transfer Volume – Stablecoin Activity Reaches $1.8 Trillion Record

Key Takeaways

Stablecoin Transfer Volume Hits All Time High in February

Stablecoin transaction activity reached a new monthly record in February, with total transfer volume climbing to $1.8 trillion, according to data from Allium. The figure represents the highest monthly level recorded for stablecoins, which are cryptocurrencies designed to maintain a stable value, typically pegged to fiat currencies such as the US dollar.

Stablecoins operate across multiple blockchains and are widely used for trading, settlement and transferring value within the digital asset ecosystem. The February data highlights a sharp increase in onchain movement of these dollar-pegged tokens.

The record volume reflects aggregate transfers across major stablecoins, with two issuers accounting for the majority of activity: Circle’s USDC and Tether’s USDt.

USDC Accounts for 70 Percent of Monthly Stablecoin Volume

USDC recorded $1.26 trillion in transfer volume in February, representing 70 percent of all stablecoin transactions during the month. This marks a new milestone for the second largest stablecoin by market capitalization since its launch in September 2018.

By comparison, Tether’s USDt registered $514 billion in transfer volume over the same period. Despite USDt maintaining a significantly larger market capitalization, USDC has overtaken it in terms of transactional activity.

USDC currently has a market capitalization of $77.4 billion, while USDt stands at $184 billion. The divergence between market capitalization and transfer volume indicates that USDC is being moved onchain more frequently relative to its size.

According to Simon Dedic, founder at Moonrock Capital, USDC has consistently surpassed USDt in transfer volume over the past few months. The February data continues that trend and underscores a shift in transactional dominance, even though USDt remains the larger asset by total supply.

USDC Supply Expands as New Tokens Are Minted

Recent issuance data points to accelerated growth in USDC supply. Market intelligence firm Arkham reported that more than $3 billion in new USDC was minted in the first week of March alone. During the same period, USDt supply remained relatively unchanged.

One reported mint included $250 million in USDC issued on the Solana blockchain. The continued expansion of circulating supply corresponds with the elevated transfer activity recorded in February.

Circle Internet Group, the issuer of USDC, previously reported strong earnings for the fourth quarter of 2025. The company attributed its performance to rapid growth in USDC-related business and expanding payments operations. While detailed financial figures were not disclosed in the available data, the earnings report aligns with the observed increase in usage and supply.

Rising Stablecoin Supply Signals Increased Market Liquidity

Beyond individual token performance, aggregate stablecoin data indicates a broader rise in market liquidity. The Stablecoin Supply Ratio, or SSR, which measures the ratio between Bitcoin’s market capitalization and the total stablecoin market capitalization, has been steadily recovering after declining in February, according to CryptoQuant analyst Sunny Mom.

A lower SSR generally reflects higher relative stablecoin supply compared to Bitcoin’s market value, which can indicate greater available capital for crypto purchases. The recent recovery in the ratio coincided with increased stablecoin inflows to exchanges.

On March 5, approximately $5.14 billion in stablecoins were transferred to exchanges, compared with $1.14 billion on March 1. By Friday of the same week, total stablecoin supply held on exchanges had risen to $66.5 billion, a three week high.

The increase in exchange balances occurred alongside Bitcoin’s latest move toward $74,000. Historically, higher stablecoin balances on exchanges have provided additional buying power for cryptocurrencies, as these tokens are frequently used as base trading pairs.

Implications for Crypto Markets and Platform Users

For market participants, including users of crypto trading and betting platforms that rely on stablecoin liquidity, the shift in transfer volume highlights changes in how capital moves across the ecosystem. USDC’s higher transaction share suggests that it is currently playing a central role in onchain settlement and exchange activity.

The rise in total stablecoin volume and exchange balances also reflects renewed capital movement within the crypto market. Stablecoins often serve as an entry point for trading, hedging and transferring funds between platforms. Higher transactional activity can therefore influence liquidity conditions across exchanges and services that accept crypto payments.

At the same time, the data shows that market capitalization alone does not determine transactional dominance. Although USDt remains the largest stablecoin by supply, USDC led in actual transfer volume during the latest reporting period.

Our Assessment

February marked a record month for stablecoin activity, with $1.8 trillion in total transfer volume. USDC accounted for the majority of that activity, surpassing USDt despite having a smaller market capitalization. At the same time, new USDC issuance and rising stablecoin balances on exchanges coincided with Bitcoin’s move toward $74,000. The data indicates increased onchain activity and higher stablecoin liquidity within the crypto market.

Pakistan Passes Virtual Assets Act 2026 – New Law Formalizes Crypto Oversight and Licensing Framework

Key Takeaways

Parliament Approves Virtual Assets Act 2026

Pakistan’s parliament has passed the Virtual Assets Act, 2026, creating a formal legal framework for the country’s digital asset sector. The bill was approved by both the Senate and the National Assembly and now requires the signature of President Asif Ali Zardari to enter into force.

The legislation legally formalizes oversight of Pakistan’s crypto industry and confirms the Pakistan Virtual Assets Regulatory Authority, or PVARA, as the central regulatory body for digital assets. PVARA had already been established in July 2025. With the new act, its role and powers are now anchored in law.

For crypto users and companies operating in or evaluating the Pakistani market, the passage of the act signals a transition from policy announcements to a structured regulatory regime backed by legislation.

PVARA Granted Licensing and Enforcement Powers

Under the new framework, PVARA is authorized to enforce licensing requirements and exercise oversight over digital asset service providers. This includes the power to regulate entities operating within Pakistan’s crypto ecosystem.

The authority is also tasked with setting and enforcing anti money laundering rules and ensuring compliance with international sanctions obligations. According to PVARA Chairman Bilal Bin Saqib, the regulator has already issued no objection certificates and is developing banking rails in coordination with the State Bank of Pakistan.

Bin Saqib stated that the country is moving toward a comprehensive licensing framework aligned with global anti money laundering and financial integrity standards. This indicates that regulatory supervision will extend beyond registration to ongoing compliance obligations.

For exchanges, custodians, and other service providers, licensing and compliance requirements are expected to become central operational conditions once the law takes effect.

Shift From Previous Resistance to Formal Integration

The passage of the Virtual Assets Act follows a broader policy shift that began in November 2024. At that time, the government moved to regulate cryptocurrencies as legal tender, reversing earlier resistance from regulators who had stated that crypto would not be legalized or integrated into the financial system.

Since that reversal, Pakistan has taken additional steps that signal institutional engagement with digital assets. These include the announcement of a Bitcoin strategic reserve and the allocation of 2,000 megawatts of electricity for Bitcoin mining and AI data centers.

At the Bitcoin MENA conference in December 2025, Bin Saqib described digital assets as a new financial rail for the global south and referred to blockchain technology as critical infrastructure. These remarks align with the government’s decision to formalize oversight through legislation.

Pakistan also ranks near the top of the 2025 Global Crypto Adoption Index published by Chainalysis, reflecting high levels of crypto usage relative to other countries.

International Cooperation and Stablecoin Exploration

In January, Pakistan signed a memorandum of understanding with SC Financial Technologies, an affiliate of World Liberty Financial. The decentralized finance platform was founded by the sons of US President Donald Trump.

The collaboration aims to explore the use of the USD1 stablecoin for digital payments, including cross border transactions and remittances. While the memorandum does not in itself create binding regulation, it reflects Pakistan’s interest in integrating stablecoin based payment solutions into its financial ecosystem.

Such initiatives are taking place alongside the development of domestic regulatory structures under PVARA. For users and service providers, this combination of legislative action and international cooperation indicates that digital assets are being addressed at both policy and operational levels.

Outlook for Pakistan’s Position in the Digital Asset Sector

Changpeng Zhao, co founder of Binance, has stated that Pakistan could emerge as a global hub for digital assets by 2030 if it continues its current pace of development and regulatory progress. While this statement does not constitute official policy, it reflects external attention to Pakistan’s regulatory developments.

With the Virtual Assets Act now passed by parliament, the immediate next step is presidential approval. Once signed, the law will provide the formal legal basis for licensing, compliance monitoring, and enforcement actions by PVARA.

For international crypto businesses, payment providers, and platforms assessing market entry, the existence of a defined regulator with statutory authority reduces uncertainty around oversight structures. For users, the introduction of licensing and anti money laundering standards may affect how platforms operate, particularly in relation to onboarding, verification, and transaction monitoring.

Our Assessment

The passage of the Virtual Assets Act, 2026 establishes a formal legal framework for digital asset regulation in Pakistan and confirms PVARA as the central supervisory authority. The law introduces licensing requirements and mandates anti money laundering and sanctions compliance for digital asset service providers. Combined with earlier steps such as recognizing cryptocurrencies as legal tender, announcing a Bitcoin strategic reserve, allocating energy for mining, and exploring stablecoin based payments, the act marks a structured move toward regulated integration of digital assets into Pakistan’s financial system.

Utexo Raises $7.5 Million Seed Round – Aiming to Enable Native USDT Settlement on Bitcoin

Key Takeaways

Seed Funding Backed by Tether and Institutional Investors

Utexo, a startup focused on Bitcoin-native stablecoin settlement infrastructure, has secured $7.5 million in a seed funding round. The round was co-led by Tether, Big Brain Holdings, and Portal Ventures. Additional participants included Franklin Templeton, Maven11 Capital, Fulgur Ventures, Alchemy VC, Ethereal Ventures, Auros Ventures, Arcanum Capital, Paper Ventures, Axia8, FlowTraders, Plan B, Gate Ventures, Sats Ventures, and strategic angel investors from companies such as Ledger, Hyperion, BTC Turk, Echo, Legion, and SOLV.

The funding is intended to support the development and rollout of infrastructure that enables USDT transactions to settle directly on Bitcoin. According to the company, the goal is to address what it describes as a longstanding gap in the cryptocurrency ecosystem: production-ready payment rails for stablecoins operating natively on Bitcoin.

Focus on Native USDT Settlement Over Bitcoin

Utexo’s core objective is to allow USDT, the stablecoin issued by Tether, to settle directly on Bitcoin rather than relying on alternative networks. The company positions its system as a way to route stablecoin transactions over Bitcoin-native rails while maintaining compatibility with existing custody, compliance, and user interface setups.

Paolo Ardoino, CEO of Tether, stated that Bitcoin has been central to the company’s long-term vision for USDT. He emphasized the importance of resilient and open settlement infrastructure, describing Utexo’s technology as a layer that makes Bitcoin-native USDT settlement viable at scale. According to Ardoino, this strengthens Bitcoin’s function as a settlement rail for dollar-denominated transactions.

For platforms that handle significant volumes of USDT, including exchanges, wallets, payment service providers, and high-frequency trading firms, the ability to route stablecoin flows over Bitcoin without altering operational workflows may reduce integration friction. Utexo states that partners integrate its API once and can then route USDT over Bitcoin while retaining control over cost structures.

Technical Architecture: API Abstraction and Atomic Settlement

Historically, technologies such as the Lightning Network and RGB protocols have offered technical capabilities for Bitcoin-based payments. However, their complexity has limited broader production adoption. Utexo aims to abstract these complexities through a single API layer.

According to co-founder Chris Hutchinson, the system is designed to allow USDT to move instantly and with predictable costs. The infrastructure supports atomic settlement, meaning transactions are either fully completed or not executed at all. The company states that settlement occurs in USDT and is anchored to Bitcoin’s security model, with completion times under one second.

Another co-founder, Viktor Ihnatiuk, noted that the system enables wallets to offer free USDT transactions while potentially increasing adoption of Bitcoin-native stablecoins. The infrastructure also supports privacy-preserving execution and predictable fees that remain independent of network congestion.

A distinguishing feature described by Utexo is transaction encryption. The company states that all on-chain transactions are encrypted, preventing disclosure of counterparties and wallet addresses. This differs from public transaction graphs on other networks, where transaction flows can be more easily traced.

Alignment With Tether’s Broader Bitcoin Strategy

The investment in Utexo reflects Tether’s continued focus on Bitcoin-based infrastructure. In February 2026, Tether open-sourced MiningOS, a modular operating system for managing and automating bitcoin mining operations. The system, unveiled at the 2026 Plan B Forum in San Salvador, provides unified control over hardware, energy, and site infrastructure using a peer-to-peer architecture.

By backing Utexo, Tether extends its involvement beyond mining software into settlement infrastructure. The stated objective is to enable reliable and predictable dollar-denominated payments anchored to Bitcoin’s security model. Rather than launching a speculative layer-2 solution, Utexo focuses on routing existing USDT flows over Bitcoin.

For market participants, particularly those handling large USDT volumes, infrastructure that allows stablecoin settlement on Bitcoin without operational restructuring may influence how payment rails are selected. Exchanges, trading firms, and payment providers often prioritize settlement speed, fee predictability, and system compatibility when choosing blockchain infrastructure.

Implications for Stablecoin Payment Infrastructure

Stablecoins such as USDT are widely used for trading, cross-platform transfers, and payment settlement. Infrastructure developments that alter how and where these tokens settle can affect transaction routing decisions for platforms and users.

Utexo’s model centers on predictable fees, atomic settlement, and encrypted transaction execution. If implemented as described, these features could offer an alternative routing option for USDT flows that emphasizes Bitcoin’s base-layer security model.

The company targets institutional and high-volume operators rather than retail users directly. However, infrastructure changes at the operator level can influence transaction costs, settlement times, and network exposure for end users, including those interacting with exchanges, wallets, and platforms that accept USDT.

Our Assessment

Utexo has secured $7.5 million in seed funding, co-led by Tether, to develop infrastructure enabling native USDT settlement on Bitcoin. The system introduces API-based integration, atomic settlement, encrypted transactions, and sub-second completion times. Tether’s participation aligns with its stated strategy to expand Bitcoin-based infrastructure for USDT. The development focuses on routing existing stablecoin flows over Bitcoin rather than introducing a new token or speculative network layer, targeting exchanges, wallets, and high-volume payment operators.

Zerohash Applies for US National Trust Bank Charter – Move Would Expand Custody and Settlement Services for Digital Assets

Key Takeaways

Zerohash Seeks Federal Trust Status to Expand Crypto Infrastructure Services

Chicago based digital asset infrastructure provider Zerohash has filed an application with the Office of the Comptroller of the Currency for a national trust bank charter. The move would allow the company to operate a federally regulated trust entity focused on digital assets and related financial services.

Zerohash provides backend crypto infrastructure to banks, brokerages and fintech platforms. According to its website, clients include prediction markets platform Kalshi and asset manager BlackRock. By obtaining a national trust charter, the firm aims to expand its role in digital asset custody and settlement.

The proposed national trust bank would provide custody for digital assets, fiat currency and other assets. It would also offer custodial staking, transfer agent services and stablecoin management. Stephen Gardner, the company’s chief legal officer, is listed as the proposed chief executive officer of the trust bank.

For users of crypto platforms, custody structure and regulatory status influence how assets are held and administered. A national trust charter would place Zerohash under federal oversight by the OCC, aligning it with other trust institutions that specialize in safeguarding assets rather than operating as full service commercial banks.

What a National Trust Bank Charter Allows and Restricts

A national trust bank differs from a traditional bank in several key aspects. Trust banks cannot accept deposits or issue loans. Instead, their primary function is to hold and administer assets on behalf of clients.

In the crypto sector, this structure has become relevant for firms focused on digital asset custody, settlement and related services such as staking and stablecoin administration. Federal trust status provides a uniform regulatory framework across US states, rather than requiring multiple state level licenses.

Zerohash joins a group of crypto and fintech firms that have recently pursued similar federal charters. In December, the OCC granted conditional approval for trust charters requested by Circle Internet Group Inc., Ripple, BitGo Inc., Fidelity Digital Assets and Paxos. These approvals signal that federal regulators are processing applications from digital asset companies seeking trust status, although final approvals remain subject to regulatory conditions.

For international users evaluating crypto service providers, federal trust status can affect how assets are legally segregated and supervised within the United States. While a trust charter does not permit lending or deposit taking, it formalizes custody and administrative activities under federal banking law.

Mastercard Explored Acquisition as Zerohash Remains Independent

Earlier this year, Mastercard considered acquiring Zerohash in a deal reportedly valued at up to 2 billion US dollars. The company chose to remain independent and rejected an outright purchase.

According to reports, the two companies are now discussing a strategic investment. Such an arrangement would allow Mastercard exposure to Zerohash’s technology and client base while preserving Zerohash’s autonomy.

This context highlights Zerohash’s position within the broader digital asset infrastructure market. Rather than operating a consumer facing exchange or wallet, the company focuses on providing regulated backend services to financial institutions and fintech platforms that integrate crypto functionality for their users.

Kraken Secures Federal Reserve Master Account for Direct Dollar Settlement

In a separate development, crypto exchange Kraken announced that it has secured a Federal Reserve master account. The approval was granted to Kraken Financial by the Federal Reserve Bank of Kansas City.

A master account allows Kraken to access the US central bank’s core payment infrastructure directly. Through Fedwire, the company can settle US dollar transactions without relying on intermediary banks.

However, Kraken will not receive all the benefits associated with traditional banks. The company will not earn interest on reserves held at the Federal Reserve and will not have access to the Fed’s lending facilities. The arrangement reflects discussions around so called skinny master accounts, which provide limited access to payment systems without full banking privileges.

Access to the Federal Reserve payment system has historically been restricted, and crypto firms have sought similar approvals. Other companies, including Ripple and Custodia Bank, have pursued comparable access, although approvals have been selective.

For users, direct access to Fedwire can affect how efficiently US dollar transactions are processed within a platform’s banking structure. It also reduces reliance on third party correspondent banks for settlement.

Regulatory Positioning Becomes Central for Crypto Infrastructure Providers

Both Zerohash’s trust bank application and Kraken’s master account approval reflect a broader focus on regulatory positioning among crypto infrastructure providers in the United States.

Zerohash is seeking a federal trust structure to formalize custody, staking and stablecoin services under OCC supervision. Kraken, through its banking arm, has secured direct access to the US payment system while operating under limited banking privileges.

For international users of crypto trading, betting or payment platforms, these developments matter because infrastructure providers often sit behind consumer facing services. Custody arrangements, settlement mechanisms and access to fiat payment rails influence how platforms manage client funds and process transactions.

Our Assessment

Zerohash’s application for a national trust bank charter would, if approved, place its digital asset custody and settlement services under federal oversight by the OCC. Trust status would allow the company to hold and administer assets but not to accept deposits or issue loans.

Kraken’s approval for a Federal Reserve master account grants direct access to US dollar settlement infrastructure, while limiting traditional banking benefits such as interest on reserves or central bank lending.

Together, these developments show that major crypto infrastructure providers are pursuing formal regulatory frameworks and direct payment access within the United States, shaping how digital assets and fiat transactions are managed at the institutional level.

Bitcoin Rises Above $72,000 – ETF Inflows and Short Covering Support Price Amid Middle East Tensions

Key Takeaways

Bitcoin Breaks Above $72,000 After Prolonged Downtrend

Bitcoin traded above $72,000 during Asian trading hours on March 4, marking its highest level in one month. The move followed a period of sustained weakness, with six straight weekly losses and five consecutive months of price declines.

The previous day, the asset had approached $70,000 but failed to move decisively above that level. The breakout occurred as market participants adjusted positions after weeks of defensive trading.

According to reporting by Bitcoin Magazine, the rebound reflected a shift in positioning rather than a wave of new bullish demand. Many traders had built significant short positions amid concerns that tensions involving Iran could escalate into a wider regional conflict. When the situation did not broaden as feared, those bearish bets were unwound, contributing to upward price pressure.

At the time of writing, Bitcoin was trading near $71,700, slightly below the session high but still above the $71,000 threshold highlighted by market analysts.

ETF Inflows Provide Institutional Support

Institutional flows through U.S.-listed spot Bitcoin exchange-traded funds contributed to market support. Over the past five trading days, these products recorded approximately $1.45 billion in net inflows.

Daily figures remained elevated. On March 3, net inflows reached $225 million, following $458 million the day before. These inflows coincided with the price rebound and suggest sustained institutional participation during a period of broader market uncertainty.

For users of crypto platforms and betting services that rely on Bitcoin liquidity, ETF-driven demand can affect short-term price stability and trading volumes. Increased inflows typically correspond with higher spot market activity, which may influence transaction timing and hedging strategies for operators managing crypto exposure.

Derivatives and On-Chain Data Signal Cautious Stabilization

On-chain and derivatives data indicate that market conditions have stabilized, though traders remain cautious.

Glassnode reported that Bitcoin’s relative strength index rose to 41, up from 36 the previous week. This change points to improving momentum after an extended period of weakness. Spot trading volume increased to $9.6 billion from $6.6 billion, reflecting renewed activity in the underlying market.

However, derivatives markets continue to show defensive positioning. Perpetual futures funding rates remain negative, indicating that short positions still dominate in certain segments. Open interest in major contracts has grown, suggesting that traders are adjusting or rolling positions rather than aggressively entering new long trades.

Nicolai Sondergaard, Research Analyst at Nansen, told Bitcoin Magazine that holding above $71,000 through the upcoming U.S. nonfarm payrolls release could materially shift the current trading range. He noted that a softer payrolls number might reinforce expectations of rate cuts ahead of the March 18 Federal Open Market Committee decision. Conversely, if the $71,000 level fails to hold, the previously established $60,000 to $71,000 range would remain intact.

Stablecoin Legislation Debate Adds Regulatory Context

Alongside market movements, regulatory developments in the United States remain in focus. President Trump recently criticized the banking industry, stating that the stablecoin legislation signed last year, known as the GENIUS Act, is being threatened and undermined by banks.

The dispute centers on a provision that bars stablecoin issuers from paying interest directly to holders. Banks argue that this creates a loophole for third-party reward programs. Crypto advocates maintain that such rewards are necessary for stablecoins to compete effectively in payment markets.

The disagreement has slowed progress in the Senate on related market structure legislation, including the Clarity Act. Meetings led by the White House between banking and crypto representatives have not yet resolved the standoff.

For users of crypto betting platforms and online gambling services that rely on stablecoin transactions, regulatory clarity in the United States can influence product design, payment features, and cross-border usability.

Our Assessment

Bitcoin’s move above $72,000 follows months of sustained declines and coincides with significant inflows into U.S.-listed spot ETFs. The rebound was driven in part by short covering linked to geopolitical concerns that did not escalate further. On-chain indicators show improving momentum, while derivatives markets remain defensively positioned. At the same time, unresolved U.S. stablecoin legislation highlights ongoing regulatory discussions that may affect broader crypto market structure. Together, these factors frame the current environment for market participants and crypto platform users.

Malta Gaming Authority Invites Licensees to Contribute to EU AML Standards Consultation – New Draft Rules Target Customer Due Diligence and Reporting Obligations

Key Takeaways

Malta Gaming Authority Alerts Licensees to EU-Level AML Consultations

The Malta Gaming Authority has informed its licensees and other relevant stakeholders that the European Union has opened public consultations on new draft anti-money laundering standards. The consultations are being conducted by the newly established EU Anti-Money Laundering Authority, which is responsible for developing technical standards under the updated EU framework.

According to the Authority, the draft measures are directly relevant to the non-financial sector, which includes gaming. By notifying authorized persons, the regulator is encouraging early engagement with proposals that may shape future compliance obligations for gaming operators licensed in Malta.

The consultation phase comes as the European Union advances toward a more unified and risk-sensitive legislative regime for anti-money laundering and counter-terrorist financing. For operators offering online gambling and related services, including those accepting digital payments, changes at EU level can influence operational processes, customer verification requirements, and reporting structures.

Three Draft Regulatory Technical Standards Under Review

The public consultations concern three separate draft Regulatory Technical Standards.

The first draft, issued under Article 28(1) of the Anti-Money Laundering Regulation – Regulation (EU) 2024/1624 – focuses on customer due diligence. This area covers how businesses verify the identity of their customers and assess risk in ongoing relationships.

The second draft, issued under Article 19(9) of the same Regulation, sets out criteria for identifying business relationships, occasional transactions, and linked transactions. It also addresses the determination of lower thresholds. These provisions are relevant for defining when customer due diligence measures must apply and how transactions are categorized under the regulatory framework.

The third draft standard is issued under Article 53(10) of the Anti-Money Laundering Directive – Directive (EU) 2024/1640. It relates to the reporting of material weaknesses. In practice, this concerns how obliged entities, including gaming operators, would report significant deficiencies in their internal controls or compliance systems.

Together, these draft standards form part of the EU’s broader anti-money laundering framework, which aims to harmonize obligations across Member States and sectors.

Deadlines and Participation Process for Gaming Operators

Two separate deadlines have been set by the EU Anti-Money Laundering Authority.

Feedback on the draft Regulatory Technical Standard under Article 53(10) of the Anti-Money Laundering Directive must be submitted by Monday, March 9, 2026. Responses to the two draft standards issued under Articles 28(1) and 19(9) of the Anti-Money Laundering Regulation are due by Friday, May 8, 2026.

The Malta Gaming Authority has encouraged licensees and stakeholders to review the draft texts carefully and to submit their responses directly to the EU authority through the designated consultation channels. It has also invited stakeholders to share written feedback with the Authority itself, which will use this input to inform its continued engagement as the EU legislative process progresses.

According to the regulator, this consultation stage represents an important legislative step for the gaming sector. It marks a point at which the EU-level authority is actively consulting on non-financial activities, including gaming.

Relevance for the Gaming and iGaming Sector

The Malta Gaming Authority has stated that early and informed participation can help ensure that the resulting technical standards remain proportionate and appropriately calibrated to sector-specific risks. For licensed gaming operators, anti-money laundering rules form a core part of regulatory compliance and are subject to ongoing supervision.

The proposed standards address operational areas that directly affect how gaming companies onboard customers, monitor transactions, and manage internal compliance systems. Requirements on customer due diligence and transaction classification can shape how platforms design verification processes. Obligations to report material weaknesses may also influence internal governance and risk management procedures.

By calling for engagement at this stage, the Maltese regulator is positioning its licensees to contribute to the development of detailed technical rules before they are finalized at EU level.

Our Assessment

The Malta Gaming Authority’s notice highlights that the EU Anti-Money Laundering Authority has entered a public consultation phase on three draft Regulatory Technical Standards relevant to the gaming sector. The drafts address customer due diligence, identification of business relationships and transactions, and reporting of material weaknesses under the updated EU anti-money laundering framework. With specific submission deadlines in March and May 2026, licensed operators have a defined window to provide feedback before the standards move further in the legislative process.