Bitstamp Integrates PayPal, Dubai Police Works in Metaverse

Get your daily, bite-sized summary of cryptoassets and blockchain-related news – examine the stories that fly under the radar of today’s crypto news.
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Exchange news

• Bit stamp announced that it has integrated PayPal “for millions of people to buy, sell and trade crypto through a secure, regulated platform. Per an announcement, users who already have a PayPal account can start transacting on Bitstamp right away. They are able to make crypto purchases on up to 2,500 USD/EUR/GBP daily, with 0% trading fee across all coins for their first $1,000 in trading volume during the previous 30-day rolling period.Withdrawals to PayPal “will not be supported at this time, but we are planning to introduce this feature in the future,” they added.
• Bitfinex has launched a British Pound (GBP) fiat on-ramp service to enable deposits and withdrawals of GBP, in partnership with the fiat on-ramp service provider OpenPayd. In a press release shared with Cryptonews.com. Bitfinex said it has witnessed “a significant increase” in volume in bitcoin (BTC)/GBP trading activity.
• Coin base CEO Brian Armstrong announced on Twitter that he would sell about 2% of his Coinbase holdings over the next year to fund scientific research. “For the avoidance of doubt, I intend to be the CEO of Coinbase for a very long time, and I remain super bullish on crypto and Coinbase,” he said.
• Coin base has hired a manager from the German fintech company Solaris bank to lead its European expansion, Bloomberg reported. Daniel Seifert serves as Vice President and Europe Regional Managing Director. Previously, he was head of operations and customer support at the Swiss investment bank UBS partner.
• Cameron Winklevoss left his seat Gemini Europeboard of directors, AltFi reported, citing “a Companies House filing.” He stood down as director of the stock’s European arm on 12 October, while Gillian Lynch, the new head of Ireland and the EU, took the seat of former UK chief executive Blair Halliday (who moved to Kraken Exchange).

Metaverse news

• The United Arab Emirates (UAE) Ajman Police in Dubai became the first law enforcement agency to provide its services in the metaverse, according to chirping by the authority. The Ajman Police General Command also participated in the Dubai Metaverse Forum with an aim to take advantage of metaverse technology in the police field, Lieutenant Colonel Mohammed Abdullah Abu Shehab was quoted by Khaleej Times as saying.

Payment news

• Payment giant MasterCard plans to announce a program on Monday that will help financial institutions offer cryptocurrency trading, the company told CNBC. Mastercard will act as a “bridge” between Paxos (PAX), and it will handle regulatory compliance and security.

Regulatory news

• The Australian Securities and Investment Commission (ASIC) suspended the offering and distribution of three cryptocurrencies to retail investors at crypto asset managers Holon Investments for 21 days, citing non-compliant target market regulations. These are the bitcoin, ethereum (ETH) and filecoin funds.
• Macau’s The Executive Council (CE) has sent a draft of a set of regulations, a bill entitled “Legal Regime for the Creation and Issuance of Currency”, to the Legislative Council for consideration. It concerns the legal standardization of all currencies in the region, including digital currencies. If approved, “legal tender currency i [Macau would] cover not only the traditional forms of currency, i.e. notes and coins, but [would] also includes currency in digital format, which has been given the same status, provided that the respective regime is regulated by special legislation.”
• The investment bank Societe Generaleits crypto division SG Forge has received approval from French l’Autorité des Marchés Financiers (AMF) to operate digital asset services in France. The registration covers the storage, purchase, sale and exchange of digital assets.

Blockchain News

• Filecoin Greenit Protocol Labs initiative to decarbonize the blockchain-based storage network Filecoin Network (FIL), announced the launch of CO2.Storage, a Web3 data storage solution to “enable transparency of comprehensive environmental attributes underlying carbon offsets.” Per a press release shared with Cryptonews.comthis free storage tool aims to address the inefficiency of traditional storage solutions for all types of digital environmental resources.