US-based Burling Bank, acquired by LevelField Financial earlier this month, has been approved to offer cryptocurrency custody and trading services, Healthy Pockets' Hugo Botto reported. This and more news in this handy daily summary so that you are always informed with the most recent events that occur within the crypto world.
Burling Bank authorized to launch cryptocurrency services
📍Burling Bank receives authorization from the U.S. Federal Deposit Insurance Corporation (FDIC) to offer cryptocurrency services. Clients of Burling Bank, which was acquired by LevelField Financial earlier this month, will be able to trade crypto assets directly.
According to Hugo Botto, founder of the Healthy Pockets channel, Burling Bank has become the first retail bank in the country authorized to offer custody and trading services for cryptocurrencies and digital assets.
LevelField had expressed interest in the cryptocurrency market when it acquired the US bank, which is regulated and supervised by the FDIC.
Crypto solidarity with those affected by the earthquake in Syria and Türkiye
📍The crypto industry is offering aid to those affected by the earthquake in Syria and Türkiye. Thousands of families have lost their lives and homes following the powerful earthquakes that struck Syria and Turkey early Monday morning. The crypto industry and its participants are standing in solidarity with the affected people, offering their help and solidarity.
Cryptocurrency exchange companies such as Binance, Gateio, and Bitfinex, among others, are joining forces and coordinating their efforts to send aid packages in support of those affected by the earthquake. This is what they have done expressed cryptocurrency exchanges and their CEOs from their official Twitter accounts.
Interpol on alert for possible crimes in the Metaverse
📍As the Metaverse grows and expands, so too could the number of crimes, abuse cases and illicit activities, Interpol noted. The international police organization is preparing to combat crimes in the virtual world. Interpol launched its own metaverse platform last year, to offer users a space to file complaints for cyber and financial crimes.
The international agency will now focus on monitoring activities occurring within the metaverse to prevent crime, including cases of sexual harassment and abuse, assault, money laundering, terrorist financing, and more.
Jurgen Stock, Secretary General of Interpol, said The BBC reported that criminals are becoming sophisticated and professional and are adapting very quickly to the new technological tools available, such as the metaverse, to commit their crimes, so the police must also be prepared to combat crime within any virtual space or environment.
Hong Kong to expand supervision of crypto industry
📍Hong Kong's Securities and Futures Commission to strengthen virtual assets team China's special administrative region's securities regulator will expand its virtual asset-focused task force, adding four new employees, to meet growing demand from companies looking to become virtual currency service providers.
The Commission seeks to enhance and expand its oversight efforts to ensure compliance and mitigate potential risks.
It should be noted that Hong Kong seeks to establish itself as an important global center at the forefront of cryptocurrency innovation and technological development.
Louis Vuitton to launch new NFT collection
📍The luxury brand has teamed up with artist Yayoi Kusama to launch a new collection of NFT tokens. Kusama is a Japanese artist known for her thematic interest in psychedelia, patterns, dots and colorful art. Louis Vuitton's new crypto collection will be launched in commemoration of its 200th anniversary.
Continue reading: A company uses methane from the oil industry to mine Bitcoin
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