News Roundup — Abu Dhabi’s ADJD To Use Crypto Payments for Legal Fees

Major news stories this week;

1. Abu Dhabi’s ADJD To Use Crypto Payments for Legal Fees
2. Trump Signs GENIUS Act Into Law, Ushering In Crypto’s Integration With US Economy
3. Tether’s USDT Sets New Record Market Cap Above $160 Billion in ‘Mind-Blowing Milestone,’ CEO Paolo Ardoino Says
4. Court Victory Clears Path for First Bitcoin Mortgage in Australia
5. El Salvador, Pakistan Inaugurate Diplomatic Relations To Collaborate on Digital Assets

Story Summaries;

1. The Abu Dhabi Judicial Department is the first in the Middle East to accept AE Coin, an AED-backed stablecoin, for legal service payments, in partnership with Al Maryah Bank. This supports the UAE’s push for digital government services. AE Coin adoption is growing across sectors, including transport and aviation, as the country prepares for more AED stablecoins and a central bank digital currency.
2. President Trump has signed the GENIUS Act into law, marking the first major U.S. legislation for stablecoins. The bill establishes a regulatory framework for issuing and trading stablecoins, opening the door for banks, financial institutions, and major retailers to enter the sector. Celebrated at a high-profile White House ceremony, the move signals growing federal support for crypto, though broader regulatory clarity is still pending as a comprehensive crypto market structure bill advances through Congress.
3. Tether’s USDT has reached a record market cap of over $160 billion, which CEO Paolo Ardoino called a “mind-blowing milestone” highlighting its role as a digital dollar in emerging markets. With most USDT issued on Tron due to its low fees, the stablecoin continues to dominate with a 65% market share. Backed mainly by U.S. Treasurys, Tether posted $13 billion in profit in 2024 and is expanding into AI, energy, and bitcoin mining, aiming to become the largest miner by year-end. Analysts predict stablecoins could grow to a $4 trillion market within a decade.
4. Australia is set to launch its first Bitcoin-backed home loans after fintech Block Earner won a legal battle against the country’s securities regulator. The ruling allows the company to offer crypto-collateralized loans without a financial services license. Borrowers can now use Bitcoin as collateral while retaining ownership, with interest rates starting at 9.5% and flexible repayment options. Block Earner has already seen over $110 million in demand and says the move gives crypto holders a smarter way to enter the property market without liquidating their assets.
5. El Salvador and Pakistan have established diplomatic ties for the first time, with a focus on collaboration in digital assets and blockchain policy. The partnership was formalized during a meeting between El Salvador’s President Nayib Bukele and Bilal Bin Saqib, Pakistan’s crypto advisor. Despite being under a $7 billion IMF program, Pakistan is advancing its crypto agenda, including plans for a Bitcoin reserve and national regulatory body. El Salvador’s pioneering crypto approach is influencing Pakistan’s strategy as it explores blockchain to drive innovation and economic growth.
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And that’s all for last week’s news! Wishing you a great week ahead!