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LevelField Financial To Become First FDIC-Insured Bank to Offer Traditional Banking And Bitcoin Services

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LevelField Financial is set to acquire Burling Bank in a move that would enable access to bitcoin for traditional banking customers.

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  • Once the acquisition is approved by regulatory authorities, LevelField Financial will be able to expand its services and products nationwide.
  • The firm would offer customers a full suite of products and services, from traditional banking services to digital asset services, all within an FDIC-insured institution.
  • LevelField Financial will also benefit from the expertise of the senior management team of Burling Bank, which will join the LevelField Financial leadership team.
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Korean Financial Services Commission Chair Announces Security Tokens

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After hinting at sharing the guidelines in September 2022, the Korean Financial Services Commission (FSC) announced a Security Token offering issuance. This comes after observing a spike in demand for tokenized digital assets. In addition, the institution will create a systematic structure for the distribution, management, and administration of the Security Token Offerings (STO). 

Brokerage Firms To Enter The Security Token Offerings Market

With the Korean government’s offering, entities in the brokerage market can also deal in the STO market. This will pump more funds into the STO market and help compensate for the higher demand in Korea and abroad.   Read more...

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Crypto Markets Today: Galaxy Digital Expands Brokerage Services With GK8 Acquisition

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The cryptocurrency-focused financial services firm won an auction to buy the company from crypto lender Celsius, which filed for Chapter 11 bankruptcy protection. Crypto Markets Today is CoinDesk’s daily newsletter diving into what happened in today’s crypto markets.
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Wasabi Bitcoin Wallet Releases Update To Restore Services Amid Tor Attack

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The bitcoin wallet is using exit nodes that anonymously route traffic, rather than relying on the backend of Tor while raising funds to support the network.

Tor, a privacy network protocol utilized for anonymity services, has been under a distributed denial-of-service (DDoS) attack for months, and Wasabi Wallet has created a solution for its users, per a release sent to Bitcoin Magazine.

A number of projects in the Bitcoin ecosystem use Tor in their infrastructure to provide anonymity to their clients. Thus, as this ongoing attack has made leveraging the platform difficult, many of these projects have struggled to reliably deliver their products, Wasabi being among those who have struggled.  Read more...

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Singapore’s Largest Bank To Expand Bitcoin, Crypto Services Amid Bear Market

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DBS Group Holdings is looking to expand its digital asset exchange to 300,000 of its wealthiest clients across Asia and build out new products.

  • DBS bank in Singapore wants to expand its digital asset offerings to more of its 300,000 users.
  • The bank is also looking to upgrade its mobile application to make the process more user-friendly.
  • DBS holds $ 488 billion in total assets as of December 31, 2021.

DBS Group Holdings, Singapore’s largest bank, is looking to expand its bitcoin and cryptocurrency services to 300,000 of its wealthiest users, per a report from the Financial Times.  Read more...

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Babylon Finance Announces Termination Of Services Following A Ruinous Hack

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According to a statement made on August 31 by Babylon Finance company’s founder Ramon Recuero, the company will stop offering its services for the DeFi asset management protocol on November 15.

Babylon Finance Shuts Down Services

Ramon Recuero, founder of Babylon Finance, disclosed the decision on Twitter in the late hours of Wednesday. The software engineer revealed that the asset management protocol would finally be shutting down in November of this year.

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Crypto ATM Company BitBase To Launch Services In Venezuela

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Bitbase is a cryptocurrency store and ATM company which has now decided to launch its ATM operations in Venezuela this year.

Bitbase is currently planning to hire employees for its stores and the crypto ATMs that are to be introduced.

This could make the ATM company one of the first international exchanges that have planned to open an office within the country.

At the moment, Latin American countries have been chosen as a lucrative destiny for cryptocurrency exchanges and companies owing to how prevalent crypto assets have become in those countries.  Read more...

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Brazil’s Largest Broker XP Just Launched Bitcoin Trading Services

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The broker has 3.6 million users and its new trading platform developed in partnership with the Nasdaq can scale to support one million users for bitcoin trading.

  • The largest broker in Brazil has launched bitcoin trading services for its clients.
  • XP has over 3.6 million users.
  • The company has a goal of 200,00 users by year end with a scalable capacity of one million users.

XP Inc., Brazil’s largest broker when measured by market value, has officially launched bitcoin trading services enabling its 3.6 million users to buy, sell and hold bitcoin, per a report from Brazilian publication ISTOE.  Read more...

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Bitwage Partners With Casa, Edge Wallet For Streamlined Bitcoin Payroll Services

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The payroll provider will leverage the wallets of Casa and Edge to streamline and automate payroll in bitcoin for businesses and governments.

  • Bitwage has partnered with two Bitcoin wallet providers to streamline its onboarding process.
  • Casa and Edge Wallet helped Bitwage develop a UI to integrate each of the wallets onto its payroll platform.
  • These partnerships will allow Bitwage to automate the process of onboarding businesses from start to finish.

Bitwage, a bitcoin payroll provider, is partnering with Bitcoin security company Casa and Edge Wallet to ease the process of onboarding businesses to a Bitcoin standard, according to a press release sent to Bitcoin Magazine.  Read more...

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Dutch Central Bank Fines Binance Over Unauthorised Services

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The Dutch Central Bank has imposed a 3.3 million euros ($ 3.4 million) fine on Binance for extending unauthorised services to Dutch citizens.

The crypto exchange did not have proper registration but still continued to provide services. This comes as a setback to the exchange’s campaign to win over the European regulators.

The Central Bank stated that the crypto exchange had violated the rules which was needed by the digital asset company to be able to have a registration that would facilitate the exchange to offer services in Netherlands.  Read more...

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Chicago Based Brokerage Firm M1 Finance To Render Crypto Trading Services

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The bear market has left a sour taste for crypto investors, and most are worrying about the current trend in the market. Many firms are also fighting to sustain operations amid issues of insolvency, liquidity shortage, and compulsory workforce downsizing.

But even with all these issues, innovations and developments keep emerging, proving that the industry is not dead. One recent notable development is the plan to create accounts and trading services by M1 Finance.

The online brokerage company plans to expand its operations by including these two services. According to the team, the launch will likely occur in some weeks. M1 Finance has been operating since 2015, and according to them, the firm now has above $ 5 billion AUM (assets under management).  Read more...

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Bithoven Cryptocurrency Exchange Announces Its New Margin Trading Services For Users

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Bithoven, a recognized cryptocurrency exchange, is currently offering margin trading services for users on its platform. The information was released by the company with the intention to offer the services traders request the most. With this new feature, individuals will be able to improve their trading strategy and potentially increase their profits.  Bithoven Adds Support […]

The post Bithoven Cryptocurrency Exchange Announces Its New Margin Trading Services For Users appeared first on CCN Markets

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John McAfee Over the Moon, Offers His Services to Cuba on Crypto

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The nation of Cuba has formally announced plans to utilize cryptocurrency on an international scale, and one resident couldn’t be happier. John McAfee, who is currently hiding out somewhere in Havana, praised the decision by the Cuban government and offered his help. Cuba is planning to use Cryptocurrency to get around the 63 years of […]

The post John McAfee Over the Moon, Offers His Services to Cuba on Crypto appeared first on CCN Markets

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Apps, Services and Devices That Put Every Bitcoiner in the Driver’s Seat

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In the beginning, there was Bitcoin Core. Satoshi Nakamoto’s seminal software implementation for the Bitcoin network was a one-stop shop for early users: For the earliest adopters, it functioned as a full node, wallet and miner.

Ten years and a few moons later, the Bitcoin service industry is undergoing a technical renaissance. Today, applications and hardware abound that give bitcoiners a greater degree of flexibility over how they manage their coins than ever before. From mixing services to plug-and-play nodes, hardware wallets to browser extensions, these tools have made Bitcoin more private, safer and easier to use, expanding its use cases along the way.  Read more...

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Man Sentenced for Illegal Money Transmission Services on LocalBitcoins

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LocalBitcoins

U.S. citizen Morgan Rockcoons has been sentenced to fines and prison time for running unlicensed money exchange services on LocalBitcoins.

Advertising himself on the peer-to-peer bitcoin trading network, Rockcoons made more than 1,000 transactions with hundreds of different users. The U.S. Department of Justice (DoJ) pursued him on charges of not registering his business with the Financial Crimes Enforcement Network (FinCEN).

Rockcoons’ sentencing marks the end of a somewhat protracted legal battle, following his arrest in February 2018. Rockcoons attempted to sell 10 BTC to an undercover law enforcement officer for $ 14,500 in cash after the officer explicitly told him that the money was acquired through the production and sale of controlled substances.  Read more...

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PR: MoneyToken Launches VIP Services for Big Crypto Investors

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MoneyToken Launches VIP Services for Big Crypto Investors

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

Some great news today for all crypto-holders and investors: top crypto-lending platform MoneyToken has just released a unique VIP Customer Service Program for major asset holders and institutions.

MoneyToken’s VIP clients gain exclusive access to their own Personal Manager who will provide them with a 24/7 high-quality service and access to a list of benefits not found anywhere in the crypto lending world.  Read more...

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Indian Crypto Exchange Wazirx Taking Auto-Matching P2P Services Global

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Indian Crypto Exchange Wazirx Taking Auto-Matching P2P Services Global

Cryptocurrency exchange Wazirx is expanding globally. “While India has a banking ban,” the CEO of the exchange told news.Bitcoin.com, “we realized there’s banking trouble in a lot more countries.” Over 40 cryptocurrencies will be available to all major countries, with the exchange’s auto-matching P2P services to launch one country at a time based on user demand.

Also read: Indian Government Confirms Cryptocurrency Regulation in Final Stages

Wazirx Going Global

Wazirx has announced its plans to expand to international markets. CEO Nischal Shetty told news.Bitcoin.com on Sunday:  Read more...

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Ban Hammer Remains: South Korea’s Financial Services Commission Refuses to Lift ICO Ban

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The ban on initial coin offerings in South Korea will stay, the country’s financial regulator has said in a statement. The decision by the South Korean Financial Services Commission (FSC) follows a survey which the regulator commissioned. Among the findings of the survey include the fact that some ICO projects misrepresented themselves. For instance, some had claimed to be fundraising abroad but they went on to involve South Koreans. Dirty Tricks Employed to Evade ICO Ban According to the FSC, the projects did this by registering in Singapore in order to circumvent South Korea’s ICO ban. Some of the evidence  Read more...

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Double Down Your Bitcoin Security by Utilizing 2FA Services

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After obtaining your first bitcoins on an exchange, you’ll want to keep them safe, even if the funds are only sitting there temporarily. One way to keep your crypto secure online is by using two-factor authentication (2FA). Security is of utmost importance when it comes to storing cryptocurrency in an online wallet and 2FA adds another layer of protection over and above a strong password.

Also read: Regulations Have Ruined the Physical Bitcoin Industry  Read more...

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