Crypto News Summary: Bitstamp Integrates PayPal, Dubai Police Works in Metaverse

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
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Exchange news

• Bitstamp 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 making transactions on Bitstamp right away. They are able to make crypto purchases of up to 2,500 USD/EUR/GBP daily, with 0% trading fee across all coins for their first $1,000 in trading volume over the previous 30-day rolling period. Withdrawals of funds to PayPal “will not be supported for the time being, but we’re planning to introduce this feature in the future,” they added.
• Bitfinex has launched a British Pound (GBP) fiat on-ramp service to enable deposit and withdrawals of GBP, working with fiat on-ramp services provider OpenPayd. In a press release shared with Cryptonews.com. Bitfinex said that it has witnessed “a significant spike” in volume in bitcoin (BTC)/GBP trading activity.
• Coinbase CEO Brian Armstrong announced on Twitter that he would sell off about 2% of his Coinbase holdings over the next year to fund scientific research. “For the avoidance of doubt, I intend to be CEO of Coinbase for a very long time and I remain super bullish on crypto and Coinbase,” he said.
• Coinbase has hired an executive from German fintech firm Solarisbank to lead its European expansion, Bloomberg reported. Daniel Seifert serves as Vice Presidend and the Europe regional managing director. Previously, he was head of operations and customer support at Swiss investment bank UBS Partner.
• Cameron Winklevoss left his spot on Gemini Europe‘s board of directors, AltFi reported, citing “a Companies House filing.” He ceased to be a director of the exchange’s European arm on October 12, while Gillian Lynch, the new head of Ireland and the EU, took the seat of the former UK managing director Blair Halliday (who moved to the Kraken exchange).

Metaverse news

• The United Arab Emirates (UAE)’s Ajman Police in Dubai became the first law enforcement agency to provide its services inside the metaverse, per a tweet by the authority. The Ajman Police General Command also participated in the Dubai Metaverse Forum with a goal to benefit from metaverse technology in the police field, Lieutenant Colonel Mohammed Abdullah Abu Shehab was quoted by the Khaleej Times as saying.

Payments news

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

Regulation news

• The Australian Securities and Investment Commission (ASIC) suspended the offering and distributing of three cryptocurrencies to retail investors on crypto asset manager Holon Investments for 21 days, citing non-compliant target market determinations. These are its bitcoin, ethereum (ETH), and filecoin funds.
• Macau’s Executive Council (CE) has submitted a draft of a regulatory framework, a bill titled “Legal regime for the creation and issuance of currency”, to the Legislative Council for deliberation. It concerns the legal standardization of all currencies in the region, including digital currencies. If passed, “currency with legal tender in [Macau would] cover not only the traditional forms of currency, that is, banknotes and coins, but [would] also include currency in digital format, which has been granted the same status, providing that the respective regime be regulated by special legislation.”
• Investment bank Société Générale’s 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 custody, purchase, sale, and exchange of digital assets.

Blockchain news

• Filecoin Green, the 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 for comprehensive environmental attributes underlying carbon offsets.” Per a press release shared with Cryptonews.com, this free storage utility aims to address the inefficiencies of traditional storage solutions for all types of digital environmental assets.