The Blockchain Bulletin April 26: The Fed Eases Crypto Rules for Banks

Hey folks! Welcome again to our Blockchain Bulletin, which has the latest happenings in the market for the last 24 hours. The Federal Reserve Board on Thursday took a major step by rolling back its 2022 and 2023 crypto-asset guidance, opening new doors for banks wishing to engage with digital assets. According to the Fed’s press release, the earlier supervisory letter and joint statements with the FDIC and OCC required state member banks to notify regulators in advance before diving into crypto activities like holding Bitcoin on balance sheets. Now, those hurdles have been removed, and banks will be supervised under standard regulatory frameworks rather than through targeted pre-approvals, signaling a more mature, albeit cautious, acceptance of digital assets within the U.S. banking system.

As regulators loosen their grip, it appears not everyone is playing by the same honest rulebook. Across the Atlantic—or rather across cyberspace—North Korean hackers tied to the notorious Lazarus Group are getting a little too creative. In research reported by cybersecurity firm Silent Push, hackers legally set up two shell companies—BlockNovas LLC in New Mexico and SoftGlide LLC in New York—using fake names and suspicious addresses like a vacant lot in South Carolina and a modest tax office in Buffalo. The companies were fronts to launch malware attacks specifically targeting cryptocurrency developers, blending regulatory loopholes with sharp cyber sabotage. A third group, Angeloper Agency, linked to the operation, added an extra layer of deceit, demonstrating how global cyber threats continue to evolve hand-in-hand with the blockchain industry’s expansion.

While the U.S. grapples with regulatory reforms and cybersecurity battles, the UAE is quietly scripting a new chapter in Islamic finance history. Ruya, a digital-first Islamic bank in the United Arab Emirates, has become the world’s first Islamic bank to offer direct Bitcoin access through its mobile app. Powered by a collaboration with Fuze, a licensed digital asset infrastructure provider in the UAE, the platform promises not only security and efficiency but also Shari’ah-compliant investing. As CEO, Christoph Koster emphasized, Ruya’s goal is to fuse modern finance with Islamic principles, targeting responsible, long-term engagement with virtual assets, a move many call a significant bridge between traditional ethics and futuristic opportunities.

Meanwhile, if you’re looking for a crypto holiday—or perhaps your next blockchain business headquarters—Ljubljana, the charming capital of Slovenia, might be your dream destination. According to the Crypto Friendly Cities Index 2025 by global mobility platform Multipolitan, Ljubljana scored an impressive 173 out of 180 points, clinching the title of the world’s most crypto-friendly city. The report highlights criteria such as taxation, regulatory environment, digital infrastructure, and real-world crypto utilities like Bitcoin ATMs and retail acceptance, noting how urban centers embracing blockchain innovation are reaping the rewards in terms of talent, innovation, and economic growth.

Back on the blockchain itself, Ethereum investors appear to be channeling their inner hodlers with remarkable determination. Despite being “underwater,” meaning many are sitting on unrealized losses, Ethereum wallets have collectively accumulated a record 449,000 ETH according to early 2025 market data. Analysts pinpoint $1,895 as a critical resistance level to break for momentum to build, while $2,142 remains the golden number for a full bullish reversal. Yet the steady accumulation trend, particularly over recent months, speaks volumes about the underlying confidence investors continue to place in Ethereum’s long-term trajectory.